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Friday, October 30, 2009
AIE Scraps $750 Million IPO For Now
By Steve Gelsi
MarketWatch Pulse
NEW YORK -- AEI said late Thursday it would scrap its initial public offering because of market conditions. The overseas natural gas and electricity seller owned by U.K. investment firm Ashmore had hoped to raise about $750 million in its IPO. In a statement AEI said it "decided not to proceed" with the IPO. "We continue to see a number of attractive opportunities in owning and operating essential energy infrastructure businesses in emerging markets worldwide," said AEI, which is comprised of energy companies once held by Enron's international unit. "Our exclusive focus on providing critical services to the development of these markets as well as the continued strong support of our major shareholders position us well to continue to grow."
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