Alfa Desarrollo’s $1.295 Billion Acquisition of Colbún Transmisión

Carey advised Celeo Redes and APG Energy & Infra Investments; Barros & Errázuriz advised Colbún S.A. on the transaction. White & Case LLP advised Alfa Desarrollo SpA.
Shearman & Sterling advised JPMorgan Chase Bank, N.A., as lead arranger, in connection with the financing.

Alfa Desarrollo SpA, a special purpose vehicle 80% owned by APG Energy & Infra Investments SLU, a part of the Dutch pension fund APG, and 20% owned by Celeo Redes SLU, the power transmission operator owned by the Spanish company Elecnor S.A, executed its $1.295 billion acquisition of Colbún Transmisión from Colbún SA.

Colbún Transmisión is one of the largest transmission platforms in Chile, owns and operates 899 km of power transmission lines and 27 power substations in the National Electric System (Sistema Eléctrico Nacional) of the Republic of Chile.

The financing will consist of a senior secured term loan facility, the proceeds of which will be applied by Alfa Desarrollo for the acquisition of 100% of all outstanding shares in Colbún Transmisión from its current sole shareholder, Colbún S.A.

Carey advised Celeo Redes and APG Energy & Infra Investments with José Miguel Bustamante (Picture), Cristián Eyzaguirre, Claudio Lizana, Matías Vergara y Manuel José Garcés, Constanza Trisotti, Daniela Pfeffer, Fernando Noriega, Ignacio Alfaro, José Tomás Hurley, Juan Pablo Vukasovic, Manuel José Barros, Ricardo Edwards, Rocío Véliz and Valentina Mendoza.

Barros & Errázuriz advised Colbún S.A. with José Tomás Errázuriz Grez, Bernardo Simian Soza, Enrique Barros Vial, Carola Trucco Hortwitz, Carlos Ducci González, Cristóbal Pellegrini, Ignacio Urbina, Verónica Vergara, Martín Errázuriz, Jerónimo Amenábar Vial, Martín Vial Correa, Catalina Vergara and Agustina Montt.

Shearman & Sterling advised JPMorgan Chase Bank, N.A., as lead arranger, in connection with the financing with a team including Alexandro M. Padrés, Gregory Tan, Grissel Mercado, Maria Marulanda Larsen and Cindy Garo.

The White & Case team that advised on the transaction was led by partners Thomas Pate in New York, Jeannine Acevedo in Miami and John Anderson in São Paulo, with support from partner Carlos Viana and associates Adrian Leal, Mariana Seixas and Helena Buitrago, all in Miami; associate Monaliza da Silva in New York; and partner John Guzman in São Paulo.

 

 

Involved fees earner: Jerónimo Amenábar Vial – Barros & Errázuriz Abogados; Enrique Barros – Barros & Errázuriz Abogados; Catalina Berrios – Barros & Errázuriz Abogados; Carlos Ducci – Barros & Errázuriz Abogados; Martín Errázuriz – Barros & Errázuriz Abogados; José Tomás Errázuriz – Barros & Errázuriz Abogados; Agustina Montt – Barros & Errázuriz Abogados; Cristobal Pellegrini – Barros & Errázuriz Abogados; Bernardo Simian – Barros & Errázuriz Abogados; Carola Trucco H. – Barros & Errázuriz Abogados; Ignacio Urbina – Barros & Errázuriz Abogados; Veronica Vergara – Barros & Errázuriz Abogados; Martín Vial Correa – Barros & Errázuriz Abogados; Ignacio Alfaro – Carey; Manuel José Barros – Carey; José Miguel Bustamante – Carey; Ricardo Edwards – Carey; Cristián Eyzaguirre – Carey; Manuel José Garcés – Carey; José Tomás Hurley – Carey; Claudio Lizana – Carey; Valentina Mendoza – Carey; Fernando Noriega – Carey; Daniela Pfeffer – Carey; Constanza Trisotti – Carey; Rocío Véliz – Carey; Matías Vergara – Carey; Juan Pablo Vukasovic – Carey; Cindy Garo – Shearman & Sterling; Maria Marulanda Larsen – Shearman & Sterling; Grissel Mercado – Shearman & Sterling; Alexandro Padrés – Shearman & Sterling; Gregory Tan – Shearman & Sterling; Jeannine Acevedo – White & Case; John Anderson – White & Case; Helena Buitrago – White & Case; John Guzman – White & Case; Adrián Leal – White & Case; Thomas Pate – White & Case; Mariana Seixas – White & Case; Carlos Viana – White & Case;

Law Firms: Barros & Errázuriz Abogados; Carey; Shearman & Sterling; White & Case;

Clients: APG Asset Management N.V.; Celeo Redes Operación Chile S.A.; Colbun S.A; JP Morgan Chase & Co.;

Giulia Di Palma

Author: Giulia Di Palma