Globeleq completes sale of operating power businesses in Latin America
18 June 2007, Houston - Globeleq, the emerging markets power company, announced today that it has completed the sale of its operating power businesses in Latin America. The company expects that the sale of its businesses in North Africa and Asia will be completed in the third quarter of 2007. Both transactions were announced on 28 May 2007.
This closing includes Globeleq’s interests in six countries which have been sold to a consortium of D.S. Constructions Limited of India and Israel Corporation Limited for total consideration of $542 million. Two of Globeleq’s interests, both minority holdings, are subject to additional closing conditions.
Founded in 2002, Globeleq is the only operating power company solely focused on the emerging markets of Africa, the Americas and Asia. Globeleq is actively pursuing new project development opportunities.