OREANDA-NEWS.   The Company is pleased to announce that Inkia, a subsidiary of IC Power,  wholly  owned  by  the  Company, entered into  an  agreement with AEI Power Ltd.  for the  purchase of its shares in the companies: AEI Nicaragua Holdings Ltd.  and AEI Jamaica Holdings Ltd.  (the "Companies") in  comsideration of approximately - USD 54 million in cash.
The Companies  holds  and operates, through  its subsidiaries, power plants in  Nicaragua and  Jamaica with a total capacity of about 245 MW, and include power plants operated  by wind  energy with a capacity of 63 MW.
Below are the names of the subsidiaries which hold and operate the power plants: Consorcio Eolico Amayo S.A. (“Amayo”), Consorcio Eolico Amayo (Fase II), S.A. (“Amayo II)  Empresa Energ'etica Corinto Ltd. (“Corinto”), Tipitapa Power Company Ltd. (“Tipitapa”)  Jamaica Private Power Company Limited (“JPPC”).
Under this agreement, Inkia  will acquire,  indirectly,  100% of the shares  of  JPPC (currently holds 15.6% of the shares of this company), 61.35% of the shares  of  Amayo and 64.58% of the shares  of Amayo II, Tipitapa and Corinto.
The transaction is subject to customary  conditions precedent  in  such transactions  such  as  third  parties’ approvals.