PPU advised EDF on Chile acquisition
Philippi, Prietocarrizosa Ferrero DU & Uría acted for EDF and AME on their $300 million acquisition of Eléctrica Santiago.
Eléctrica Santiago is a subsidiary of AES Gener, Chile´s second largest electricity generation company. AME (Andes Mining & Energy) operates energy project developments in Chile and Peru. The company owns and operates Generadora Metropolitana together with French energy multinational EDF.
Media reports noted that AES Gener would boost earnings by $65 million with the sale and that the funds would go toward strengthening the company’s capital structure.
Partner Carlos Alberto Reyes led the PPU team advising the buyers. Partner Guillermo Infante was involved in the tax and corporate structuring of the transaction.
Eléctrica Santiago instructed Claro y Cía and AES Gener relied on in-house counsel.