Globeleq announces new directors
LONDON, 2 October 2006 – Globeleq, the emerging markets power company, today announced the appointments of Alistair Mackintosh and Michael Till to its board of directors.
Mr Mackintosh, Managing Partner and Chief Investment Officer of Actis, the private equity fund manager specializing in emerging markets, will succeed John Baker as Chairman. Mr Baker will continue as an advisor to the board until his term expires at the end of 2006. Mr. Mackintosh joined Actis in 2004 from PPM Ventures Ltd, the international private equity business of Prudential Plc., and has 17 years' experience as a private equity investor.
Michael Till, who runs energy and infrastructure activities for Actis, has been appointed a director and will replace Roger Witcomb, a board member since 2004. Mr Till has over 10 years of investment experience focusing on natural resources and Latin America.
“I am delighted to take on this role as Globeleq rises to the challenge of developing and building new generating capacity to meet the needs of the emerging markets,” said Alistair Mackintosh. “I look forward to working with Globeleq management and the board to help capitalize on the company’s unique position as the leading power investor in its markets .”
“Alistair Mackintosh and Michael Till bring a wealth of investment experience in our markets, complementing the impressive industry expertise of the current board,” said Torbjorn Caesar, CEO of Globeleq. “The original board of Globeleq, including Chairman John Baker, former CEO and Founding Partner Robert Hart, and director Roger Witcomb, has overseen the development of a very successful emerging markets operating power company. ”
Both Mr Mackintosh and Mr Till were appointed by CDC Group plc, the UK government owned fund-of-funds investor focused on the emerging markets of Asia, Africa and Latin America which is Globeleq’s sole shareholder. CDC’s investment in Globeleq is managed by Actis.
With assets valued at over $1.5 billion, Globeleq is the only operating power company solely focused on the emerging markets of Africa, the Americas and Asia. The company has investments in generating companies with a total of more than 5,000 megawatts (MW) of capacity, and one national power distribution company and is actively pursuing further acquisitions and new project development. Globeleq Ltd, the parent of the Globeleq group of companies, is a Bermuda limited company.
