TORONTO & NEW YORK–(EMWNews)–The Ontario Teachers’ Pension Plan (Teachers’)

and Morgan Stanley Infrastructure (MSI) have completed the transaction

to jointly acquire SAESA Group (SAESA), a Chilean electricity

distribution, transmission and generation company from Public Service

Enterprise Group (PSEG) for a purchase price of US$887 million. Under

the agreement announced with PSEG on June 17, Teachers’

and MSI each own 50% of the company and have assumed approximately

US$400 million in existing company debt. The enterprise value of the

company is US$1.3 billion.

“As an international infrastructure investor,

we are very pleased to be a new, long-term shareholder of SAESA’s

diversified electricity assets,” said Stephen

Dowd, Teachers’ Senior Vice-President,

Infrastructure. “We invest in companies with

stable cash flows linked to inflation to help pay inflation-indexed

pensions. SAESA is an excellent fit for our portfolio and we look

forward to supporting Francisco Mualim and his management team both

strategically and financially to foster the company’s

future growth and success.”

“We are pleased to have SAESA as part of our

portfolio of infrastructure investments,”

said Ron Lepin, Chief Operating Officer of MSI. “SAESA

operates in a high-growth market within a favorable regulatory

environment, which allows for long-term predictable cash flows that fit

our investment objectives. We look forward to working closely with SAESA’s

experienced management team to extend the company’s

strong track record and sector performance.”

SAESA is the second largest electricity distributor in Chile in terms of

geographical coverage, and is the main provider of electricity in the

rapidly growing southern regions of the country. The company serves 16%

of Chile’s population, providing electric

service to approximately 2.6 million people. In addition, SAESA owns and

operates 135MWs of wind, hydro, and thermal power generation capacity,

and through its transmission company, owns and operates 950 km of

transmission lines. Francisco Mualim, Chief Executive Officer, and his

management team will continue to operate SAESA’s

electricity assets from the company’s head

office in Osorno, Chile.

About the Ontario Teachers’ Pension Plan

The Ontario Teachers’ Pension Plan is the

largest single-profession pension plan in Canada, with C$108.5 billion

(US$107.1 billion) in net assets as of December 31, 2007. An independent

corporation, it is responsible for investing the pension fund’s

assets and administering the pensions of Ontario’s

278,000 active and retired teachers. Teachers’

Infrastructure portfolio was initiated in 2001 and focuses on the

acquisition and long-term retention of assets that have a long economic

life and offer low-risk, reliable returns linked to inflation to pay

indexed pensions. More information is available at www.otpp.com.

About Morgan Stanley Infrastructure

Morgan Stanley Infrastructure is a global investment platform that

focuses on long-term investments associated with providing essential

public goods and services to societies across the globe. With offices in

North America, Europe and Asia, Morgan Stanley Infrastructure is part of

the Merchant Banking Division within Morgan Stanley Investment

Management. Morgan Stanley Investment Management has US$605 billion in

assets under management as of May 31, 2008. For further information

about Morgan Stanley Infrastructure, please visit www.morganstanley.com/infrastructure.

Major Newsire & Press Release Distribution with Basic Starting at only $19 and Complete OTCBB / Financial Distribution only $89

Get Unlimited Organic Website Traffic to your Website 
TheNFG.com now offers Organic Lead Generation & Traffic Solutions