AEI Services LLC (ticker: **AEI, exchange: Privately Held)
News Release -
AEI Acquires Additional Interest in Puerto Quetzal Power and Corinto
Houston, September 17, 2007 - Ashmore Energy International (AEI), a company that owns and operates essential energy infrastructure assets in emerging markets, announced today a series of transactions that resulted in the acquisition of additional indirect interest in Puerto Quetzal Power LLC in Guatemala (PQP) and Empresa Energética Corinto LTD in Nicaragua (Corinto). The transactions closed today, and terms of the agreements were not disclosed.
In the first transaction, AEI acquired a 25% additional indirect interest in PQP and a 30% additional indirect interest in Corinto by exercising its right of first refusal under an agreement with subsidiaries of Globeleq Ltd. Subsequently, AEI acquired an additional 20% indirect interest in PQP from Centrans Energy Services (Centrans). In addition, AEI sold to Centrans 15% of the newly acquired interest in Corinto, half of the interest acquired through the right of first refusal exercise. Upon closing of the transactions, AEI increased its indirect ownership in PQP from 55% to 100%, and its indirect ownership in Corinto from 35% to 50%.
Roberto Figueroa, AEI's Vice President responsible for the company's operations in both countries, stated, "We are pleased with the opportunity to increase our commitments in both Guatemala and Nicaragua, reinforcing our position in the Central American market. Both PQP and Corinto have a history of providing dependable power and a safe working environment, which are AEI's top priorities as an operator."
AEI owns and operates essential energy infrastructure assets in emerging markets worldwide. AEI manages interests in a group of 35 energy assets with operations in 17 countries and more than $2.3 billion in revenues (pro forma) and approximately 14,000 employees. The Company serves more than 8.8 million customers worldwide by operating businesses in Power Distribution, Power Generation, Natural Gas Transportation and Services, Natural Gas Distribution, and Retail Fuel, with more than 60,000 km of gas and liquids pipelines, 134,000 km of power distribution lines, over 1,300 gasoline stations and a gross installed capacity of 1,675 MW. You can visit the AEI website at www.ashmoreenergy.com.