Carey counsels Enel on sale of stake in Enel Transmisión Chile
Carey has counselled Enel Chile in a bidding process to sell its stake in Enel Transmisión Chile for US $1.35 billion.
The advice also included the negotiation of purchase and sale agreements and other related documents and the sale of intercompany debt.
The transaction, which closed on 9 December, is subject to several conditions precedent, including obtaining the relevant antitrust approvals.
Arteaga Gorziglia acted as advisor to Grupo Saesa. Rothschild acted as financial advisor.
The process of this operation began as an international tender, in which several parties submitted very competitive bids. Negotiations were conducted in record time to facilitate the possibilities of closing during 2022. This involved the need for collaborative work between the company’s executives, lawyers, financial advisors and experts. Once the conditions were met, the transaction materialised through a takeover bid.
Enel Transmisión Chile is an open corporation that operates and owns 683 kilometres of transmission lines. In addition, it operates 57 substations of its own; and owns and operates assets that are installed in three substations owned by third parties.
Domingo Valdés, Mónica Fernández, Isabel Cabeza and Macarena Navarro acted as in-house lawyers for Enel Chile.
Arteaga Gorziglia’s team included partners Ignacio Arteaga, Luciano Cruz and Andrés Ossandón.
Carey’s team comprised partners Alfonso Silva and Cristián Figueroa, counsel Eduardo Martin and associates Vicente Yubini and Borja Ochagavía.
