Conduit Capital Announces Sale of Power Plant in Colombia.NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of -- Conduit Capital Partners LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control , a private equity investment firm focused on the independent electric power industry in Latin America Latin America, the Spanish-speaking, Portuguese-speaking, and French-speaking countries (except Canada) of North America, South America, Central America, and the West Indies. and the Caribbean, today announced the sale of Latin Lat·in n. 1. a. The Indo-European language of the ancient Latins and Romans and the most important cultural language of western Europe until the end of the 17th century. b. Power I & II's 81.83% stake in Termotasajero, a 155 MW pulverized pul·ver·ize v. pul·ver·ized, pul·ver·iz·ing, pul·ver·iz·es v.tr. 1. To pound, crush, or grind to a powder or dust. 2. To demolish. v.intr. coal power plant in Colombia Colombia (kəlŭm`bēə, Span. kōlōm`byä), officially Republic of Colombia, republic (2005 est. pop. 42,954,000), 439,735 sq mi (1,138,914 sq km), NW South America. Bogotá is the capital and largest city. . The purchasers were a Chilean investment fund and a number of Colombian pension funds. Conduit's involvement with Termotasajero spans from 1998-1999, when the Funds purchased their stakes. Termotasajero is one of the most efficient thermal power generators in the Colombian grid because of its strategic location and its access to vast quantities of high-quality indigenous coal. It is these factors that made the plant very attractive to numerous potential suitors. "This transaction is important as it's the first time, after several tries, that the local pension funds have succeeded in winning an asset of this magnitude in Colombia and we are very pleased to have worked with them and their Chilean partner. This deal opens an alternative exit door to sophisticated investors in the country and demonstrates the depth and development of the Colombian pension system over the past few years," said Juan F. Paez, a Partner at Conduit. The sale price of $173 million reflects not only the strategic location of this plant, but also that the plant has been completely renovated and updated and now complies with all Colombian and World Bank environmental standards. The plant was constructed in 1984 and was originally owned by the Colombian Government. About Conduit Capital Partners Based in New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. , Conduit Capital Partners, LLC is a private investment firm focused exclusively on the independent electric power and pipeline industries in Latin America and the Caribbean through its management of the Latin Power Funds, founded in 1993. Latin Power I was the first private equity fund exclusively dedicated to infrastructure investments. The Funds have made investments in Mexico, Chile, Peru, Brazil, Argentina, Colombia, Jamaica, Honduras and Guatemala. Conduit is presently investing its $393 million Latin Power III fund. |
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