Transba SA

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Transba was created from the transmission assets that the state-owned company Servicios Electricos del Gran Buenos Aires (Segba) had in the Province of Buenos Aires. The company's assets included 5,448km of high tension lines and 11 connection points within the National Interconnection System in 1997. Transba was privatized in July 1997 when the government sold a 90% equity stake for $220 million to Transener, the biggest Argentinean transmission company in the electricity sector. The remaining 10% equity stake was reserved to be sold to Transba's employees. Transener was in turn partially owned by the UK's National Grid Transco and the Brazil's Petrobras. As of December 31, 2008, Transba's was owned 90% by Transener SA. Transener The ownership structure of Transener SA as of December 31, 2008 was: Pampa Energia SA, a subsidiary of Dolphin Fund Management 26.325%; %, Electroingenieria SA 13.1625%; ENARSA 13.1625%; and Others 47.35%. Investments in Transba are recorded in its parent and 90% shareholder, Transener, project #55