By Houston Business Journal

AEI Services LLC, a major international Houston-based energy infrastructure company, has decided to sell its 10 operating companies in nine separate deals for a total of $4.8 billion and reorganize as a power generation company.

The deal represents 80 percent of the companyâ¿¿s total assets.

Houston-based AEI said it had been looking for strategic business moves after pulling out of an initial public offering in 2009. It has about 11,550 employees.

The company was not immediately available for comment.

⿿We concluded that AEI should sell the vast majority of its regulated assets, return the capital to our shareholders, and plan to reorganize the company around a smaller business focused on power generation,⿝ Jim Hughes, CEO of AEI, said in a statement released on Jan. 19.

Included in the sale are:

â¿¢ 99.68 percent of Elektro in Brazil to Iberdrola;

â¿¢ Sale of 52.13 percent of Promigas in Colombia to Corporacion Financiera Colombiana SA, Fondo de Capital Privado Corredores Capital I, Fondo de Capital Privado por Compartimenos CP-Val, and Empresa de Energia de Bogota SA ESP;

â¿¢ Sale of 60 percent of Calidda in Peru to EEB;

â¿¢ Sale of 50 percent of Chilquinta in Chile and 37.97 percent of Luz del Sur in Peru to Sempra Pipelines & Storage;

⿢ Sale of 51 percent of ENSA in Panama and 86.41 percent of DelSur in El Salvador to Empresas Públicas de Medellin ESP;

â¿¢ Sale of 90 percent of EDEN, 77.1 percent of EMDERSA, and certain other assets, all in Argentina, to Pampa Energia SA; and,

â¿¢ Sale of 100 percent of ENS in Poland to Kulczyk Group.

The restructured company will include AEIâ¿¿s remaining assets in Asia, Central America and the Caribbean, and South America, and will continue as planned with power plant development projects in Guatemala, Peru, Argentina, Chile and China. The business will represent about 2,236 megawatts of operating facilities.

Copyright 2011 American City Business Journals

http://www.bizjournals.com/houston/news/2011/01/20/aei-to-sell-operating-companies-for.html?ana=thestreet

Copyright bizjournals.com 2010