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Pampa Energia To Buy $276M AEI Assets

Pampa Energia is acquiring a number of electricity companies from U.S. multinational company, Ashmore Energy International.

Pampa Energia is acquiring a number of electricity companies from U.S. multinational company, Ashmore Energy International (AEI), The Wall Street Journal reports. The Argentine electricity provider will pay a total of $276 million for the acquisition.

Pampa will take a 90% stake in Empresa Distribuidora de Energia Norte and 77.2% stake in Empresa Distribuidora Electrica Regional. Pampa will pay $140 million for the companies and $136 million for all the bonds defaulted on eight years ago by Compania de Inversiones de Energia.

Click here for the story from The Wall Street Journal.

Click here for additional coverage from Reuters.

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