Actis Inks $220M Deal For AES’ Cameroon Energy Assets

Law360, New York (November 8, 2013, 8:20 PM EST) -- U.K. private equity house Actis LLP will pay $220 million to pick up all three of American energy giant AES Corp.’s assets in Cameroon, including a majority interest in the African country’s national power grid, according to an announcement Friday.

The deal lands Actis a 56 percent stake in Cameroon’s national integrated utility, Societe Nationale d’Electricite, or SONEL, and two independent power plants, Kribi and Dibamba, according to a statement.

Under the deal, $180 million must be paid at closing while the remaining $40 million will...
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