Cuatrecasas assists Natixis in financing VGMobility

Cuatrecasas, through its team in Bogotá, has assisted Natixis (New York Branch) in a US$95 million financing granted to VGMobility in connection with the Fontibón, Perdomo and Suba projects, three initiatives that are part of the provision of electric buses to Bogotá’s Integrated Public Transport System.

Under these three projects, VGMobility delivered 406 electric buses to Bogotá’s Integrated Public Transport System and built a 33,000 m2 yard for the maintenance, washing and charging of the electric cars.

Gómez-Pinzón acted as counsel to VGMobility, while Mendoza Abogados advised Financiera de Desarrollo Nacional (FDN) in connection with the concessions to acquire the buses.

Thanks to this operation, Bogotá is positioned as the Latin American city with the most electric buses in circulation. The company expects the delivered vehicles to generate annual savings of 30,000 tons of CO2, which is equivalent to planting 180,000 trees per year.

Cuatrecasas’ team included partner Manuel Quinche (pictured left), senior associate Natalia Arango (pictured right), associate Laura Salazar and intern Manuela Gaitán.