Barros & Errázuriz advises on the sale of Colbún Transmisión
Barros & Errazuriz has advised Colbun on the sale agreement for 100% of the shares of Colbun Transmisión
Barros & Errázuriz has advised Colbun S. A. on the agreement to sell 100% of the shares of Colbún Transmisión S. A to Alfa Desarrollo SpA (controlled by the Dutch pension fund APG) and the Spanish company Celeo Redes Chile, making it to date the largest operation of the year in Chile.
The agreement involves the sale of the subsidiary Colbun Transmisión S.A. to the company Alfa Desarrollo SpA, a consortium 80% controlled by APG Energy and Infra Investments, S.L. (part of APG, Dutch pension fund) and 20% by Celeo Redes, S.L.U (a subsidiary of Celeo, Concesiones e Inversiones S.L.). The closing of the transaction is subject to compliance with the usual conditions for this type of operation, including the approval of the Fiscalía Nacional Económica (FNE the National Economic Competition Authority).
The agreed price for the operation is $ 1,295 million dollars notwithstanding the standard adjustments for this type of transaction stipulated in the respective contract.
The agreement represents the successful culmination of a process that began on September 9th, 2020, when Colbún informed the market of the decision of its Board of Directors to invite local and international actors to explore their interest in entering the Colbun Transmisión S.A. ownership, either as the majority strategic partner or acquiring up to all the shares of the company.
Barros & Errazuriz team was led by partners José Tomás Errazuriz (pictured top left), Carlos Ducci (pictured bottom left), Carola Trucco (pictured top right), Enrique Barros (pictured bottom right) , Bernardo Simian, counsel Cirstobal Pellegrini, and associates Agustina Montt, Jeronimo Amenamar, Ignacio Urbina, Martín Vial, Martín Errazuriz, Veronica Vergara and Catalina Vergara.
