Several firms advise on the sale of Enel Distribución Perú to CSGI
Rebaza Alcázar & De Las Casas and Hogan Lovells have advised Enel, and Miranda & Amado and A&O Shearman advised China Southern Power Grid (CSGI), on the sale of Enel’s energy distribution business in Peru for USD 3.1 billion to CSGI.
The transaction, closed on 12 June, consisted of the sale by Enel of its shareholding in Enel Distribución Perú (approx. 83.15%) and Enel X Perú (100%) to North Lima Power Grid Holding, a wholly-owned subsidiary of China Southern Power Grid International (CSGI), for USD 3.1 billion.
The transaction was previously signed on 7 April 2023, when the agreement between the parties to proceed with the transaction was announced. Subsequently, the transaction was authorised by INDECOPI under the merger control regime applicable in Peru, as well as by the Chinese governmental entities that authorise outbound direct investments.
China Southern Power Grid International (HK) operates as a Chinese energy investment company with the State-owned Assets Supervision and Administration Commission of China (SASAC) as a shareholder.
The Enel Group is a multinational energy group headquartered in Rome, Italy, and is a major player in the global electricity and gas sectors. Founded in 1962, Enel operates in more than 30 countries on five continents and has a diversified energy portfolio that includes wind, solar, geothermal, hydro, nuclear and thermal power plants. The decision to sell its distribution assets in Peru is part of its overall divestment strategy to reduce consolidated debt and focus on other markets, such as Italy, Spain, the US, among others.
Rebaza Alcázar & De las Casas’ team included partners Luis Miguel Elías (pictured top left) and Alberto Rebaza (pictured top centre, left), and senior associates Rafael Santín, David Baracco, Pedro Díaz and Josefina Arana.
Hogan Lovells’ team comprised partner Luca Picone (picture top centre, right), together with counsel Pierluigi Feliciani, and senior associates Francesco De Michele and Martino Filippi.
Miranda & Amado’s team was led by partner Bruno Amiel (pictured bottom left), with support from partners Enrique Felices (pictured bottom centre) and Fiorella Zumaeta (pictured bottom right), and associates Fátima Moquillaza, Pedro A. Morales and César Ramírez.
A&O Shearman’s team was represented by partner Ling Li (pictured top right) and counsel Lucia He.
