On June 17, 2008, Morgan Stanley Infrastructure, Inc. and Ontario Teachers' Pension Plan announced that they will acquire SAESA Group, U.S. energy company PSEG's (Public Service Enterprise Group Inc.) Chilean group of distribution companies. The deal has an equity value of US$870 million, with the consortium buyers also to assume US$400 million of SAESA's debt.
SAESA is Chile's second-largest distribution company by geographical coverage, and the unit also owns and operates electricity generating plants and transmission lines. It was bought by PSEG in 2001. The acquisition is Morgan Stanley Infrastructure's first investment in Latin America, while Ontario Teachers' Pension Plan already has numerous interests in the region.
The deal won the Canadian Dealmakers Utilities Award.
Further information is found on Reuters.