London, UK, July 1, 2021. ANDINA PLC (“APLC” or the “Company”) a British energy company
which specializes in the development of attractive opportunities in the electricity and regulated
services sectors announces its participation in the Empresa Distribuidora y Comercializadora
Norte S.A (“EDENOR”) acquisition.
APLC announces its 23.40% equity participation in South American Energy LLP, owner of
Empresa de Energía del Cono Sur SA (“EDELCOS”), the purchaser of a 51.00% controlling stake
in EDENOR, resulting in an indirect participation of 11.93% of the stock and voting power of
The acquisition by EDELCOS of the above mentioned controlling stake in EDENOR involves a
purchase price of USD 100,000,000, to be paid as follows: (i) USD 10,000,000 have been paid upon
execution of the share purchase agreement on December 28, 2020; (ii) USD 50,000,000 have been
paid at the closing of the share purchase agreement on June 30, 2021; and (iii) the balance in the
amount of USD 40,000,000 shall be financed by the seller for a one-year term from the closing,
bearing interest at an annual rate of 10%.
“This strategic, transformational transaction allows us to further expand our regulated electricity
asset base in Argentina providing electricity distribution services to about 3.6 million customers in
Buenos Aires City and Mendoza Province. EDENOR is an extraordinary asset, well managed and
has a great customer base and also our experienced board member Neil Bleasdale has taken the
position of CEO and chairman of EDENOR” said Jorge Rosenblut, Chairman of APLC.
EDENOR is the largest electricity distribution company in Argentina in terms of number of
customers and electricity sold. The company holds a concession to distribute electricity exclusively
in the northwestern zone of the greater Buenos Aires metropolitan area and the northern part of the
city of Buenos Aires, which has a population of approximately 9 million people and an area of
4,637 sq. km.
The company is listed on the Buenos Aires Stock Exchange (BCBA: EDN) and its ADRs
(American Depositary Receipts) shares (each ADR representing 20 Class “B” shares) are listed on
the New York Stock Exchange (NYSE: EDN) since 2007.
For more information visit: https://ir.edenor.com/en
About ANDINA PLC
Andina is a company focused on the development & operation of renewable energy projects,
generation plants and distribution of electricity energy and regulated public services.
Energy is its core business, it produces 150 GWh of renewable hydro energy, it distributes energy to
almost 3.6 million customers, and it develops renewable energy projects throughout Argentina.
In a future characterized by the expansion of electrification, Andina is committed to developing and
managing sustainable infrastructure solutions to help people use and manage energy more
efficiently, focusing on the incorporation of technological advance and innovative solutions to make
energy more reliable and affordable.
Mission: To provide sustainable, reliable and affordable energy through renewable sources and
smart grids and support its customers into the new role dwellings have and will have in the
pandemic and post- pandemic world.
Values: To always act in a competent and honest manner in order to be trusted. To devote its energy
responsibly to serve people’s needs and to anticipate future opportunities through innovation and