I Squared Capital is exploring a sale of its Latin American power producer Inkia Energy, according to people with knowledge of the matter.
(Bloomberg) — I Squared Capital is exploring a sale of its Latin American power producer Inkia Energy, according to people with knowledge of the matter.
The Miami-based infrastructure-investment firm is considering selling the company as a whole or in parts, said the people, asking not to be named because the matter is private. Inkia could attract energy companies and infrastructure investors and fetch more than $2 billion, one of the people said.
A representative for I Squared declined to comment. An Inkia spokesperson didn’t immediately respond to a request for comment.
I Squared acquired the Latin American and Caribbean business in 2018 for more than $1 billion. In 2020, I Squared sold units of Inkia that included more than 740 kilometers of power transmission lines in Peru for $158.5 million.
Inkia has 2.2 million customers in seven Latin American countries including Peru, where its headquarters is located, according to its website. Assets include hydroelectric, wind farms, cycle thermal power plants and natural gas processing facilities, it says.
I Squared in April said it raised $15 billion for its largest global infrastructure fund to date and has about $34 billion in assets under management.
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