IC Power has acquired stakes in AEI Nicaragua and AEI Jamaica for $54 million.
Israel Corporation (TASE: ILCO) subsidiary IC Power Ltd. has acquired stakes in two subsidiaries of AEI Power Ltd., one in Jamaica and the other in Nicaragua, for $54 million in cash. AEI Power's subsidiaries - AEI Nicaragua Holdings Ltd. and AEI Jamaica Holdings Ltd. - own power stations with a total output of 245 megawatts, including wind farms with an output of 63 megawatts.
IC Power, through its subsidiary, Inkia Ltd., will indirectly own stakes in the power stations' operating companies: 100% of Jamaica Private Power Company Ltd.; 61.35% in Nicaragua's Consorcio Eolico Amayo SA; 64.58% in each of Consorcio Eolico Amayo (Fase II) SA, Empresa Energ'etica Corinto Ltd., and Tipitapa Power Company Ltd.
Published by Globes [online], Israel business news - www.globes-online.com - on February 19, 2014
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