Arroyo Energy Investors LP Completes Acquisition of Delta Power Company
Posted on: Thursday, 25 January 2007, 15:01 CST
Arroyo Energy Investors LP, a unit of The Bear Stearns Companies Inc. (NYSE:BSC) announced today that it has completed its previously announced acquisition of Delta Power Company, LLC, a privately-held owner and manager of power generation projects. Included in the sale were interests in 17 power projects, with a total of 1,217 gross MW. Further terms of the transaction were not disclosed.
The remaining assets of Delta Power Company, LLC not purchased by Arroyo Energy, including six operating power plants and the operations service business, were transferred to a newly formed entity Olympus Power, LLC based in Morristown, New Jersey.
About Arroyo Energy Investors:
Arroyo Energy Investors LP, a wholly-owned subsidiary of The Bear Stearns Companies Inc., makes principal investments in energy-related assets. Located in Houston, Texas, Arroyo's specialized expertise in energy M&A--combined with Bear Stearns' world-class investment platform--offers distinct advantages to companies seeking successful transactions. More information about Arroyo Energy is available at www.arroyoenergy.com
Source: Business Wire
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