Empresa Distribuidora de Electricidad de San Luis

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Empresa Distribuidora de Electricidad de San Luis distributes electricity in the Province of San Luis, Argentina. The provincial government of San Luis privatized the company in 1993 when a consortium formed by Exxel (81%), Union Fenosa (9%), and PPP (10%) bought the company. During the first years after privatization Union Fenosa was responsible for the management and operation of the company. By 2001, Edesal was owned by GPU International (90%) through its subsidiary GPU Arg. Holdings, Inc and by PPP (10%). The company had 81,000 customers in 1994 to whom it provided 489 GWh. In 2001 GPU International merged with First Energy and therefore control over Emdersa (parent company of Edesal) moved to First Energy. In April 2003, in response to the peso devaluation, First Energy spun off Emdersa –the holding company of electricity distributors Edesal, Edelar and Edesa. In September 2005, Emdersa was acquired by a group of local (40%) and U.S. investors (60% Nextar fund). In 2009, Ashmore Energy International [USA] increased its shareholding to 77.10% of Emdersa, the parent company of Empresa Distribuidora de San Luis SA, or EDESAL (project #749), Empresa Distribuidora de La Rioja SA, or EDELAR(project #506), and Empresa Distribuidora de Salta SA, or EDESA (project #96)for approximately US $82 million. In March 2011, AEI sold its shares in holding company EMDERSA to Pampa Energia SA [Argentina] through Pampa's subsidiary Edenor.