TozziniFreire advises Cemig SIM on SPE acquisition
TozziniFreire Advogados has advised Cemig Soluções Inteligentes em Energia (Cemig SIM) on its acquisition of all shares in Potenza SPE 1, Potenza SPE 2, and Potenza SPE 3 from Potenza Energias.
The transaction, valued at BRL 155,264,282, involved the transfer of eleven photovoltaic distributed generation plants located across the Brazilian state of Minas Gerais. Azevedo Sette Advogados acted as legal counsel to the seller.
The three target companies collectively own the following solar plants: UFV São Romão 1, UFV São Romão 2, UFV São Romão 3, UFV Riachinho 1, UFV Riachinho 2, UFV Brasilândia 1, UFV Brasilândia 2, UFV Brasilândia 3, UFV Brasilândia 4, UFV Brasilândia 5, and UFV Porteirinha.
The transaction required obtaining approval from the Brazilian Administrative Council for Economic Defense (CADE), as well as structuring and implementing asset financing through the issuance of Real Estate Receivables Certificates (CRI).
The deal also involved reorganizing the conditions precedent to allow the acquisition of assets free and clear of encumbrances at closing, reassigning contracts among the target companies, and contributing assets through capital increases.
TozziniFreire Advogados was led by partners João Ribeiro da Costa (pictured left), Oswaldo Dalla Torre and Laura Garcia de Freitas Souza, supported by associates Diana de Almeida Rodrigues, Isabelle Montezano Ziolkowski, and Giovana Vitor Dantas.
Azevedo Sette Advogados represented the seller with a team comprising partner Luis Ricardo Miraglia (pictured right), lawyers Deborah Avelar Freitas, and Jade Marinho Nasser Valadares Paiva,
