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.
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