This acquisition brings together the expertise and knowledge base of both companies to create an exceptional management team and access to capital.
"Through this transaction, AEI gains a portfolio of leading energy companies in markets that have solid growth potential and establishes us as a leading international energy company," said Mark Coombs, Chairman, AEI. "AEI is focused on building, assimilating and managing essential energy infrastructure assets in emerging markets."
The first stage of the transaction closed May 25th, and the second stage was consummated today after AEI secured 14 required consents and regulatory approvals. As a result AEI now owns 100 percent of Prisma Energy. In the coming months the two companies will merge and going forward the name of the company will be Ashmore Energy International Limited.
AEI is a responsible provider of reliable and cost effective energy in emerging markets. AEI manages interests in a group of 20 energy assets located in 12 countries with more than US $2 billion in revenue and 7,000 employees. The company serves approximately 6.5 million customers worldwide by operating through three business segments: Natural Gas Services, Power Distribution and Power Generation with approximately 34,188 KM of oil and gas pipelines, 121,372 KM of electric transmission and distribution lines, and a gross installed capacity of approximately 1,914 MW.