When AEI moved to sell off its Latin American power and gas distribution business and focus only on power generation, the unloading of 80% of its assets, worth some $4.7 billion, was not an easy task. Several decisions needed to be made against a complicated market backdrop, making the sale, known as project Amapola, one of last year’s most complex.
Executives decided on the strategy shortly after the group, formerly known as Ashmore Energy International, attempted an initial public offering of shares in October 2009. Facing markets in turmoil and analyst concerns about AEI’s debt load and its exposure to political and operational risks in...
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