Carey counsels Enel Chile on sale of shares to Sonnedix
Carey has counselled Enel Chile on the negotiation and execution of a share purchase agreement, pursuant to which it was agreed to sell to Sonnedix all of the shares owned by Enel and issued by its subsidiary Arcadia Generación Solar for approximately USD $550 million.
This transaction was signed on 11 July and involved the jurisdictions of Chile and Italy. Morales & Besa and White & Case advised Sonnedix, while Banchile acted as financial advisor.
Arcadia Generación Solar operates and owns a portfolio of 416 MW of generation through four solar plants named “Diego de Almagro”, “Carrera Pinto”, “Pampa Solar Norte” and “Domeyko”.
In parallel, Sonnedix successfully closed a $624 million acquisition financing facility with BNP Paribas, SMBC and Société Generale, which acted as Joint Lead Arrangers, Joint Bookrunners and Green Loan Coordinators. Crédit Agricole CIB acted as Senior Mandated Lead Arranger and DNB Bank acted as Arranger. These entities were advised by by Milbank and Guerrero Olivos (legal), DNV (Market), Marsh (insurance), G-Advisory (IE) and EY (Tax and Model Audit).
Domingo Valdés, Natalia Fernández, Alfredo Montes and Josefa Rodríguez acted as in-house counsels to Enel Chile, Enel Generación and Enel.
Morales & Besa’s team included partners Michel Diban and Juan Carlos Valdivieso, and associates Vicente Valdés and Vicente Carrillo.
Guerrero Olivos’ tema comprised partners Sebastián Abogabir and Miguel Coddou, along with associates Ignacio Chomalí, Teresa Trucco and Juan Ignacio Peribonio.
Carey’s team was led by partners Cristián Figueroa (pictured right) and Alfonso Silva (pictured left), with support from counsel Eduardo Martin and associates Angélica De la Carrera and Borja Ochagavía.
