AEI announced today that GIC Special Investments Pte Ltd ("GICSI") has made an equity investment in AEI.
GICSI is the private equity investment arm of the Government of Singapore Investment Corporation Pte Ltd, a global investment management company established in 1981 to manage Singapore's foreign reserves.
GICSI, through its nominated investment vehicle, purchased shares from AEI and from some of its shareholders, paying a total of US$400 million for an 11% ownership interest in AEI. A nominee of GICSI has also been appointed to AEI's Board of Directors.
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AEI is a company that owns and operates essential energy infrastructure businesses in emerging markets worldwide, earning more than $3.2 billion in revenues during 2007. AEI manages interests in a group of 36 energy companies with operations in 19 countries and approximately 13,700 employees. The Company serves more than 6.3 million customers worldwide by operating businesses in Power Distribution, Power Generation, Natural Gas Transportation and Services, Natural Gas Distribution, and Retail Fuel, with approximately 42,000 km of gas and liquids pipelines, 162,000 km of power distribution lines, over 1,750 gasoline stations and a gross installed capacity of 1,735 MW.
Government of Singapore Investment Corporation Pte Ltd (GIC) is a global investment management company established in 1981 to manage Singapore's foreign reserves. It is among the world's largest fund management companies and manages more than US$100 billion in assets, in equities, fixed income, foreign exchange, commodities, money markets, alternative investments, real estate and private equity.
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