NEW YORK, June 24 /PRNewswire-FirstCall/ -- AIG Investments and
Highstar Capital (Highstar) today announced that AIG Highstar Capital II,
L.P. (AIG Highstar II) and certain of its investment affiliates have agreed
to sell their 50% ownership interest in InterGen N.V. (InterGen) to GMR
Infrastructure Limited (GMR), one of India's leading private sector
infrastructure developers, for an undisclosed amount.
InterGen N.V., headquartered in the Netherlands, is a leading global
power generation company with operating power plants located across five
countries with total gross capacity of 12,766 MW (8,086 MW of operational
capacity and 4,680 MW of projects under development). InterGen's operating
plants are located in the UK, The Netherlands, Mexico, Australia and the
Philippines. These facilities include 5,280 net equity MW in operation, 428
MW under construction, 523 MW under agreement.
InterGen was formed in 1995 and was purchased by Highstar and the
Ontario Teachers' Pension Plan (Teachers') in 2005.
Commenting on the transaction, Highstar Founder and Managing Partner
Christopher H. Lee stated, "The sale of our interests in InterGen continues
a decade-long track record of successfully investing in infrastructure
assets and businesses with sustainable downside protection, coupled with
upside potential."
Lee added that, "The investment was led for Highstar by Partners John
Stokes and Michael Miller, who were instrumental in working with InterGen
management to add value, including hands-on practical input to the
business' operations. We exit our investment leaving InterGen as a strong,
well-capitalized company under the exceptional leadership of current CEO
Neil H. Smith and his very capable team. We have greatly enjoyed working
with management and our partners at OTPP during our ownership of InterGen.
We are confident that GMR will be a great new partner for InterGen as it
continues to the next level of well-deserved success."
The transaction is expected to close in the third quarter of 2008,
subject to regulatory approvals.
Lehman Brothers acted as financial advisor to Highstar and Sidley
Austin LLP acted as [1] [2] 下一页
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