31 January, 2018 Chile

EDF and Andes Mining fund energy acquisition

Corporate / M&A - Infrastructure and Projects

Larraín y Asociados has helped energy companies EDF Energy and Andes Mining & Energy obtain a US$175 million loan to fund their acquisition of four thermal power stations.

The borrowers also hired local firms Moreno Sáez Avilés and Philippi Prietocarrizosa Ferrero DU & Uría (Chile) for advice on environmental and transactional matters.

The lenders enlisted Milbank, Tweed, Hadley & McCloy LLP in New York and Garrigues (Chile). Echeverría Ilharreborde in Santiago advised on environmental matters. The deal, which was made through the companies’ joint venture Generadora Eléctrica Santiago, closed on 28 December.

The proceeds were used to fund EDF and Andes Mining’s US$300 million acquisition of Chilean power company AES Gener’s subsidiary, Sociedad Eléctrica Santiago. The deal, which handed EDF and Andes Mining four thermal power stations with a combined capacity of 750 megawatts, closed on 21 December. Philippi Prietocarrizosa advised EDF and Andes Mining and Claro & Cía helped AES Gener.

Counsel to EDF Energy and Andes Mining & Energy

In-house counsel to Generadora Eléctrica Santiago – Mauricio Riesco

In-house counsel to Andes Mining & Energy – Sarah Birrell

Larraín y Asociados

Partners Ricardo Peña and Patricio Montes, and associate Joaquín Larrain in Santiago

Moreno Sáez Avilés

Partner Andrés Sáez in Santiago

Philippi Prietocarrizosa Ferrero DU & Uría (Chile)

Partner Carlos Alberto Reyes and associates Mario Mozó, Mario Fava and Diego Bunster

Counsel to Credit Agricole Corporate and Investment Bank; Bank of Nova Scotia; Bank of Tokyo-Mitsubishi; Sumitomo Mitsui Banking Corporation and BNP Paribas Securities

Milbank, Tweed, Hadley & McCloy LLP

Partner Daniel Bartfeld and associates Jaime Ramirez* and Jeeseon Ahn in New York

Garrigues (Chile)

Partner Pedro Garcia and associates Antonio Morales, Francisco Irarrázaval and Federico Espinosa,

Echeverría Ilharreborde

Partners José Domingo Ilharreborde and José Pedro Scagliotti in Santiago

*partner as of 1 January 2018

The article was updated on 31 January to add Philippi Prietocarrizosa Ferrero DU & Uría (Chile) as counsel to EDF Energy and Andes Mining & Energy

Source: Latin Lawyer

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