EDMONTON, Alberta, November 8, 2011 /PRNewswire/ --
Alberta Investment Management Corporation ("AIMCo") is pleased to announce that it has agreed on behalf of its clients to acquire Morgan Stanley Infrastructure Partners 50% interest in Inversiones Grupo Saesa Limitada ("Grupo SAESA"), a regulated electricity transmission and distribution company in Chile. AIMCo looks forward to working alongside the other 50% owner, Ontario Teachers' Pension Plan.
AIMCo CEO Leo de Bever says, "AIMCo is pleased to acquire a 50% interest in Grupo SAESA a company that will be a vital part of the continued growth and development of the Chilean economy. We believe that through investments in core infrastructure like transmission and distribution, AIMCo can contribute to the ongoing growth story in Chile alongside our existing investment in Autopista Central." Further, Mr. de Bever stated, "AIMCo believes Chile's well-established and stable regulatory environment provides strong support for private capital investment to meet the needs of a rapidly growing Chilean economy."
Robert Mah, AIMCo SVP Infrastructure & Timber, further states, "We are excited to own, on behalf of our clients, an electricity transmission and distribution business that will become a cornerstone holding for AIMCo in a country that has proven over many decades to be extremely attractive for foreign investment."
Grupo SAESA is the second largest electricity distributor in Chile and comprised of seven subsidiaries primarily involved in electricity distribution and transmission. The company delivers electricity to 16% of Chile's population in a concession area measuring over 44,000 square kilometers. The company owns and operates over 53,500 kilometers of distribution and transmission lines and serves approximately 700,000 customers.
For a Spanish translation of this press release please visit http://www.aimco.alberta.ca.
About Alberta Investment Management Corporation
AIMCo is one of Canada's largest and most diversified investment managers. AIMCo was established on January 1, 2008 with a mandate to provide superior long-term investment results for its clients. AIMCo operates independently from the Government of Alberta and invests globally on behalf of 26 pension, endowment and government funds in the Province of Alberta, including the Alberta Heritage Savings Trust Fund. For more information about AIMCo, visit http://www.aimco.alberta.ca.
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Alberta Investment Management Corporation
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SOURCE Alberta Investment Management Corporation