Marval advises GE on YPF Energía Eléctrica stake sale



Argentinian law firm Marval, O’Farrell & Mairal has advised General Electric (GE), through its subsidiary EFS Global Energy, in the transfer of its 24.99 per cent stake in YPF Energía Eléctrica to UK-based BNR Infrastructure Co-Investment joint venture.

After the transaction, which took place on July 23, GE will continue to exercise voting rights at YPF Energia Electrica, also known as YPF Luz.


BNR is a joint venture in which GE has a 50 per cent indirect stake, and China’s Silk Road Fund holds the remaining stake. 


YPF Energía Eléctrica is the renewable energy division of Argentina’s state oil company YPF, which specialises in the generation, transport, distribution and commercialisation of electricity through the construction of new thermal generation plants and renewable energy parks.



Marval’s team comprised partners Santiago Carregal (pictured) and Diego Chighizola, and associates Karen Maulhardt and Josefina Griot.


Shearman & Sterling advised GE in New York and São Paulo, with partners Robert Freedman and Jonathan E. Kellner, and associates Filipe Lima, Diana Balassiano, Christian Rudloff and David Avila.


Clifford Chance and Estudio Beccar Varela advised BNR Infrastructure Co-Investment Limited.