The investment fund PointState Argentum LLC, through its affiliate Argentum Investments I LLC, and laig, through its subsidiary Prado Largo SA, reported having acquired 42.71% and 7.29%, respectively, of Genneia SA belonging to Fides Group SA, Alejandro Ivanissevich and Juan Manuel Arias. In turn, the other shareholders, Jorge Brito, Jorge Pablo Brito, Dolphin Energy LLC Carballo and Fintech, reported the purchase of all shares belonging to Andreas Keller Sarmiento 11.64%, so that as a whole they will have 50% of the share capital of Genneia SA PointState income LLC Argentum and this change of shareholder participation is proof of confidence in the plans of consolidation and growth of the company. Laig is present in Genneia since 2007, while Jorge Brito, Jorge Pablo Brito, Dolphin Energy LLC Carballo and Fintech are shareholders since 2011. Genneia, which currently owns and operates 9 Thermal Generating Plant (276 MW) and the Rawson Wind park (77.4 MW), has planned to develop in stages the Puerto Madryn Wind park 220 MW by commercial operation of a first module 50 MW in approximately 20 months (construction will begin in the first quarter of 2016), a second 50 MW, about 30 months and three modules for a total of 120 MW in the next 42 months . In order to accompany these investment plans, Genneia shareholders committed to a capitalization of the Company for the equivalent of 50 million dollars in the coming days. Confident in the support of its shareholders and based on the opportunities presented by the country's renewable energy development, Genneia continue its investment plan new wind farms. In addition to the extension to 100 MW WIND FARM Rawson, the company has over 300 MW "ready to build" fit to be offered to the market for the sale of energy to those private companies that must comply with the new objectives under the recently passed law reform 27,191 Legal Regime National Renewable Energy Promotion. Thus, Genneia and its shareholders reaffirm their strong commitment to investment in the Argentine energy sector. Moreover, also especially grateful to Alejandro Pedro Ivanissevich, its President and mentor, his vision to create and transform Genneia the leading company in renewable energy development in our country. About Genneia and PointState GENNEIA S.A. is a leader in providing sustainable energy solutions, which concentrates its activities in the generation market and puts special emphasis on investment and development of projects involving the use of renewable resources. PointState Argentum LLC is an investment fund dedicated to investing in assets in our country.
