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he AES Corporation announced that the Company has signed agreements to sell electric generation and distribution businesses in Cameroon to Actis, a global market investor. AES-Sonel, Kribi Power Development Corporation (KPDC) and Dibamba Power Development Corporation (DPDC) are therefore given up by the AES Corporation.
Actis will pay $ 220 million, including $ 180 million for the completion of the operation. Prior to this, the former National Electricity Company (Sonel) was privatized in 2001 in favor of the American AES. After the complicated first years of activity, AES finally invested in new production capacity by constructing the above-mentioned independent power plants. The decision made by the Arlington group to sell AES electricity production and distribution assets in Cameroon is justified by the desire to make more readable the group’s strategy and to streamline its international expansion (Jeune Afrique 2013).
AES National Electricity Corporation (AES-Sonel) was created July 18, 2001 after the concession of Sonel. Its mission is providing the largest number of Cameroonian reliable and clean energy, not only through the upgrade of existing electrical installations but mainly through the addition of new electrical connections (AES & MINEE 2013). The transaction is expected to be closed by the first quarter of 2014…
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