10 October, 2019 Colombia

Dutch company buys stake in Colombia’s only LNG import facility

Corporate / M&A

White & Case LLP in Miami and Mexico City and Gómez-Pinzón in Bogotá have helped holding company Baru and property management group Augusta sell their shares in Colombia’s only liquefied natural gas (LNG) import facility to Dutch tank storage company Vopak.

The buyer relied on De Brauw Blackstone Westbroek in Amsterdam and Philippi Prietocarrizosa Ferrero DU & Uría (Colombia) for the deal, which closed on 11 September. Vopak now holds a 49% share in Sociedad Portuaria el Cayao (SPEC).

The value of the deal remains confidential.

Located in Cartegena, SPEC is an import facility that includes an LNG jetty, onshore infrastructure and a 9.2-kilometre gas pipeline connecting the facility to Colombia’s natural gas grid. It has been operating since 2016.

Colombian pipeline operator Promigas owns the remaining 51% of SPEC.

Counsel to Royal Vopak

– De Brauw Blackstone Westbroek

– Philippi Prietocarrizosa Ferrero DU & Uría (Colombia) 

Partners Hernando Padilla, Javier Valle and Diego Cardona, and associates Ana Estrada, Pedro Arango and Federica del Llano in Bogotá

Counsel to Baru Holding and Augusta Management

– White & Case LLP

Partners Christian Hansen and Sean Goldstein, and associate Mikel Irurita in Miami; and local partner Mauricio Valdespino in Mexico City

– Gómez-Pinzón

Partner Patricia Arrázola and associates María Fernanda Restrepo and Álvaro Rueda in Bogotá

Source: Latin Lawyer

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