Israel Corp buys stakes in power plants in Nicaragua, Jamaica
TEL AVIV Feb 19 (Reuters) - Israeli conglomerate Israel Corp said a subsidiary agreed to buy AEI Power Ltd's shares in power plants in Nicaragua and Jamaica for $54 million in cash.
AEI Nicaragua Holdings and AEI Jamaica Holdings will be acquired by Inkia, a subsidiary of Israel Corp unit IC Power, Israel Corp said in a statement on Wednesday.
The plants combined produce 245 megawatts of power, including 63 megawatts of wind energy.
Inkia already owns 15.6 percent of Jamaica Private Power Co.
The transaction is subject to various approvals.
(Reporting by Tova Cohen)
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