AEI Services LLC (ticker: **AEI, exchange: Privately Held)
News Release -
Ashmore Energy International Completes Acquisition of Indirect Controlling Interest in Power Distribution Business located in El Salvador, Distribuidora de Electricidad Del Sur, S.A. ("DelSur") from PPL Corporation
Ashmore Energy International (AEI) announced today that it completed the acquisition of an indirect 86.41% interest in Distribuidora de Electricidad Del Sur, S.A. ("DelSur") from PPL Global LLC, an affiliate of PPL Corporation (PPL) for USD 180 million.
DelSur serves approximately 291,000 customers in the central and southern regions of El Salvador and operates a distribution network of over 6,000 km. The company sold approximately 1,100 GWh in 2006. DelSur was rated AAA (local scale) by Fitch Ratings.
As previously announced, the transaction further strengthens AEI's position as one of the key players in the Central American energy markets, as the Company already had a significant presence in the region through power generation businesses totaling over 480 MW installed capacity in Guatemala, Nicaragua and Dominican Republic, as well as Elektra Noreste in Panama, a power distribution company that delivers electricity to approximately 300,000 customers.
AEI owns and operates essential energy infrastructure in emerging markets. AEI manages interests in a group of 20 energy assets with operations in 17 countries and more than USD 2.5 billion in revenues (pro forma) and 10,000 employees. The Company serves over 8 million customers worldwide by operating businesses in Power Distribution, Power Generation, and Natural Gas Transportation, Distribution and Services, with more than 37,000 km of gas and liquids pipelines, 120,000 km of power distribution lines, and a gross installed capacity of 1,675 MW. You can visit the AEI website at www.ashmoreenergy.com.