Intergen eyes Sidi Krier exit

30 July 2004
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.
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).

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