Carey and Claro & Cía instructed on $219m energy transaction in Chile

Carey advised Chilquinta on the acquisition of Compañía Transmisora del Norte Grande. The sellers retained Claro.

Chilquinta is an electricity provider focusing on the cities of Valparaiso and Viña del Mar in central Chile. It is part of Sempra Energy, the energy multinational based in San Diego, US. 

Compañía Transmisora del Norte Grande is owned by AES Gener and its subsidiary Eléctrica Angamos and operates transmission lines located in the regions of Antofagasta, Valparaíso and the capital. 

Carey conducted the due diligence process and the review of the rights over the lands that cover the transmission assets, the permits applicable to the development, construction, operation and maintenance, and the terms and conditions of the contracts under which they are administered. The law firm also reviewed the regulatory aspects of the deal, tax matters of the purchase and contingencies related to antitrust, together with the preparation of the documents.

Partner Claudio Lizana and Juan Francisco Mackenna fronted the team at Carey working on this deal. 

The Claro team advising the sellers was led by partners Rodrigo Ochagavía and Ariel Mihovilovic.