Sale of Fenosa’s Assets in Nicaragua Denied

While presidential advisor Bayardo Arce announced that the Spanish company has already sold its shares in the distributor Disnorte-Dissur, an industry spokesman has denied it.

Wednesday, January 16, 2013

Bayardo Arce Castano, economic adviser to the president of Nicaragua, announced yesterday that Gas Natural Fenosa had closed the sale of an 84% stake in Disnorte-Dissur-the remaining 16% belonging to the Nicaraguan state-without disclosing the buyer or the figures in the agreement.

Meanwhile, sources close to the Spanish company denied that the deal had been finalized, admitting that there are ongoing negotiations.

Lajornadanet.com reported that "It is estimated that the Spanish company costs more than $100 million but this is not official. Since 2007 talks have been held between the government of Nicaragua with Union Fenosa to improve its system energy leakage and fraud as well as distribution and undertaking major investments in the country but it all ended in a process of the shares being sold, it is not known to whom. Everything indicates that the commercial transaction of sale of Natural Gas-Union Fenosa was given, it is an indication that the government of Nicaragua does not want to have state control of 100% of the energy market as it was before the fall of Somoza and nationalization during stage 80, after the Sandinista triumph. "

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Gas Natural Fenosa Sells Its Shares in Nicaragua

February 2013

The Spanish company has signed the sale agreement for $57.8 million in shares in the electricity distributors Disnorte and Dissur, to the Nicaraguan company Melfosur TSK-International.

From a statement by Gas Natural Fenosa:

Gas Natural Fenosa has sold its interests in electricity distribution companies in Nicaragua

Nicaragua: Gas Natural Fenosa to Sell Distributors

December 2012

An announcement has been made that the Nicaraguan subsidiary of Gas Natural Fenosa will probably sell its shares in the electricity distributors Dissnorte and Dissur.

Three companies are interested in marketing power in Nicaragua, and if an agreement is reached, the energy companies Disnorte-Dissur will have new owners.

Nicaragua on Board of Gas Natural - Fenosa

June 2011

The government has announced that it has taken a seat on the board of the power distribution company Gas Natural-Fenosa, a subsidiary of Union Fenosa.

The Nicaraguan government made the announcement three years after acquiring 16% of the subsidiary’s shares.

According to an article in Elnuevodiario.com, "The Nicaraguan Parliament recently ratified a memorandum of understanding signed three years ago between the Government and Union Fenosa, whereby the distributor gave the state 16% of its shares in exchange for a debt of more than 11 million of dollars. "

Nicaragua: Fenosa Would Buy Production of Future Geothermal Plant

May 2010

Gas Natural Fenosa entered into a letter of intent with Ram Power Corp to Purchase 157MW from future geothermal power plant “Casita”.

Ram Power, Corp. has entered into a Letter of Intent (the "LOI") with Disnorte-Dissur, a Gas Natural Fenosa company to negotiate a Power Purchase Agreement for energy that will be produced by a new geothermal power plant under development in Nicaragua.

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