LatAmOil: AES sells Panamanian, Dominican LNG assets to Grupo Linda

US-based AES has announced plans to expand its partnership with Grupo Linda, a company based in the Dominican Republic, through the sale of minority stakes in its Dominican and Panamanian assets.

In a statement, AES explained that it had agreed to sell 20% of its AES Colon subsidiary to Grupo Linda. This transaction will make the Dominican company a minority shareholder in AES Colon, which controls Panama’s first LNG import complex. This facility is capable of handling 1.5mn tonnes per year (tpy) of LNG and also includes associated infrastructure.

AES will also sell 10% of its subsidiary AES Andres, which controls a 1.7mn tpy LNG import terminal and associated infrastructure, to Grupo Linda and its subsidiary, AFI Popular. The transaction will boost the Dominican company’s holdings, since Grupo Linda has been a shareholder in AES Andres since 2014. It will also allow AES to form a new partnership with AFI Popular through a closed-end fund.