Cuatrecasas assists CGE in its split into two companies
Cuatrecasas has advised Compañía General de Electricidad on its separation of businesses and creation of CGE Transmisión
Cuatrecasas, through its Santiago de Chile office, has assisted Compañía General de Electricidad in the separation of the electricity distribution and transmission businesses. Thanks to this division, a new company, CGE Transmisión, has been created, which will concentrate the assets and operations of the electricity transmission business and other non-distribution services.
The division, whose definitive formalisation is subject to the Financial Market Commission’s approval of CGE Transmission and its subsequent registration on a stock exchange, will take place for accounting purposes as of 1 October 2021.
With this separation of business lines, the company is complying with Law 21.194, published on 21 December 2019, which incorporated a new article 8 ter to the General Electricity Services Law, which establishes that electricity distribution companies must have a single and exclusive line of business.
Cuatrecasas’ team included partners Roberto Guerrero V., Tomás Kubick and Macarena Ravinet, together with associates Martín Dell’Oro, Tomás Montes and Isidora Opazo.
