The US’ InterGenhas mandated ANZ Investment Bankto act as financial adviser on its proposed exit from the build-own-operate-transfer (BOOT) Sidi Krier power project. It is understood that talks are already well under way with an unnamed party.

InterGen, a joint venture between the Royal Dutch/Shell Groupand the US’ Bechtel, holds a 61 per cent stake in the 650-MW project: Italy’s Edison Internationalis the other major shareholder.

The original financing package comprised $139.2 million in equity and a $317 million commercial debt package. The debt was divided into a $187 million local tranche lead arranged by Commercial International Bankand National Bank of Egypt. The $130 million international tranche was lead arranged by Banque Paribas (now part of BNP Paribas), ABN Amro, Societe Generale, Dresdner Kleinwort Bensonand Export Development Corporation of Canada (MEED 18:6:99).