PPU represents Terna in sale in favour of CDPQ

PPU Peru has advised Terna SpA on the sale of its electricity concessionaires in Peru to Caisse de Dépôt et Placement du Québec

 Philippi Prietocarrizosa Ferrero DU & Uría has represented Terna SpA, together with Curtis, Mallet-Prevost, Colt & Mosle (Italy), Posadas, Posadas & Vecino (Uruguay) and Veirano Advogados (Brazil) in the sale of Terna SpA’s electricity concessionaires in Peru, Uruguay and Brazil to Caisse de Dépôt et Placement du Québec (CDPQ) in a share purchase agreement subject to Brazilian law.

The transaction was signed on 29 April, and closing is still pending. CDPQ’s advisors were Pinheiro Neto in Brazil, Rebaza, Alcázar & de las Casas in Peru and Ferrere in Uruguay.

This was a complex transaction due to the regulation of the electricity sector in the different jurisdictions involved, the merger control dossier to be carried out, and the sale of assets in three different jurisdictions.

Terna is an independent Italian power transmission company established in 1999 and based in Rome that develops, builds, operates and maintains high and extra-high voltage power transmission networks and manages around 75,000 km of transmission lines.

Curtis, Mallet-Prevost, Colt & Mosle’s team included partner Dino Dima, and associates Simone Castelli, Francesca Angelilli and Erica Sotgiu.

Veirano Advogados was represented by partners Robson G. Barreto and Tiago Kummel Figueiro.

Posadas, Posadas & Vecino was composed of partners Tomás Gurmendez, Diego Cuenca and Diego Gamarra, together with associate Karina Souza.

Pinheiro Neto’s team consisted of partners Eduardo Paoliello and Roberta Demange, and associate Gabriella Florner.

PPU’s team was led by partner Rafael Boisset (pictured left), with support from principal associate Raúl Vizcarra (pictured top right), senior associate Alessandro Mussio (pictured bottom right), as well as principal associates Alexa Adriazola (tax) and Romina Stucchi (energy).