State Grid International Development Limited’s $2.23 Billion Acquisition of Sempra Energy Chilean businesses


Carey and Claro & Cia. advised on the transaction

Sempra Energy (NYSE:SRE) tentered into an agreement to sell its equity interests in its Chilean businesses, including its 100% stake in Chilquinta Energía S.A. (Chilquinta Energía), to State Grid International Development Limited (SGID).

Sempra Energy’s interests will be sold for $2.23 billion in cash, subject to adjustments for working capital and net indebtedness and other adjustments. The sale also will include Sempra Energy’s 100% interest in Tecnored S.A., which provides electric construction and infrastructure services to Chilquinta Energía and third parties, and its 50% interest in Eletrans S.A., which owns, constructs, operates and maintains power transmission facilities.

Carey advised State Grid International Development Limited (SGID) with a team including Claudio Lizana (Picture), Francisco Ugarte, Alberto Cardemil and Daniela León.?????

Claro & Cia. advised Chilquinta Energía S.A. with Rodrigo Ochagavía Eguiguren, Ariel Mihovilovic, José María Eyzaguirre Fernández, Santiago Bravo, Josefina Covarrubias, Bastián Cabrera and Juan Pablo Celis.

Involved fees earner: Alberto Cardemil – Carey; Daniela León – Carey; Claudio Lizana – Carey; Francisco Ugarte – Carey; Santiago Bravo – Claro y Cia; Bastián Cabrera – Claro y Cia; Josefina Covarrubias – Claro y Cia; José María Eyzaguirre – Claro y Cia; Juan Pablo Celis – Claro y Cia; Ariel Mihovilovic – Claro y Cia; Rodrigo Ochagavía – Claro y Cia;

Law Firms: Carey; Claro y Cia;

Clients: Chilquinta Energia SA; State Grid International Development;

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Author: Ambrogio Visconti.