Market Overview

AES to Sell Cameroon Businesses to Actis for $220M

The AES Corporation (NYSE: AES) announced that it has signed agreements
to sell its electric generation and distribution businesses in Cameroon
to Actis, a global pan-emerging market investor, for $220 million of net
equity proceeds. AES Société Nationale d'Electricité (AES-SONEL), an
affiliate of AES, entered the Sub-Saharan country of Cameroon in 2001
and began investing in the country's electricity sector. AES has also
signed agreements to sell its wind generation assets in India and its
wind development pipeline in Poland. Total net equity proceeds from the
three sales are expected to be $236 million. Subject to customary
regulatory, lender and other local approvals, these transactions are
expected to close by the first quarter of 2014.

See full press release

Posted-In: News Guidance Contracts Asset Sales Management M&A Global

 

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