AEI Acquires Controlling Interest in DHA Cogen

AEI, a natural gas and power distributor, has acquired a controlling interest in DHA Cogen, which is located in Pakistan. AEI now holds up to a 52.99% interest in DHA Cogen.

According to the company, closing of the acquisition, which includes AEI’s right to hold up to a 52.99% interest in DHA Cogen, occurred in July 2008. The terms of the transaction have not been disclosed.

While the transaction marks AEI’s first venture into the Middle East, the DHA Cogen acquisition strengthens AEI’s overall Asian presence, the company said.

AEI recently acquired Luoyang Yuneng Sunshine Cogeneration in China, and previously acquired gas distribution franchises through the acquisitions of Beijing MacroLink Gas and Tongda Energy.

Emilio Vicens, vice president of business development at AEI, said: “We are pleased to enter the Pakistani market and establish a presence in this fast-growing economy. This acquisition strengthens our presence in Asia and demonstrates our commitment to growing AEI’s platform in this region.”