21 March, 2019 Colombia

Hydro company purchases electricity distributor in Colombia

Corporate / M&A

Philippi Prietocarrizosa Ferrero DU & Uría in Bogota has helped a hydroelectric subsidiary of Colombian energy company Celsia acquire local electricity provider Enertolima for US$534 million.

PPU counsel to Celsia’s subsidiary, Empresa de Energia del Pacifico, centred on the structuring and negotiation of regulatory agreements along with the associated corporate and M&A advice. The deal was signed on 8 March.

DLA Piper Martínez Beltran is thought to have advised Enertolima, but this could not be confirmed prior to publication.

The deal consolidates EPSA’s position in the Colombia energy market as an integrated hydroelectric company. With the acquisition, it has increased the amount of energy it produces every year by approximately 46% to 995 gigawatt hours.

Counsel to Empresa de Energia del Pacifico

In-house counsel – Santiago Arango and Gabriela Montoya

Philippi Prietocarrizosa Ferrero DU & Uría (Colombia)

Partners Claudia Barrero, Carolina Rozo, Sandra Manrique and Diego Cardona, and associates Juan Castaño, Daniela Hernandez and Esteban Rubio.

Source: Latin Lawyer

Link to publication