Skadden, TozziniFreire and White & Case instructed on Duke Energy asset sale in Brazil
Skadden, Arps, Slate, Meagher & Flom advised Duke Energy on the $1.2 billion sale of its Brazilian assets. TozziniFreire and White & Case acted for the buyers, China Three Gorges.
Duke Energy has eight hydroelectric plants with 2,057 megawatts of capacity on the border between the states of Sao Paulo and Parana. The company also owns two small hydroelectric plants, each with a capacity of 17 megawatts, on the Sapucai Mirim River, in the northern part of the Sao Paulo state.
The deal is part of Duke Energy’s asset sale in Latin America. The company also instructed Skadden for the sale of its business in Peru, Chile, Ecuador, Guatemala, El Salvador and Argentina.
China Three Gorges (CTG) is the world’s largest producer of hydroelectric power and has a presence in 40 countries. The company is most famous for building and operating the world’s largest hydropower plant: the Three Gorges in the Yangtze River, China.
Partners Pedro Luis Galvao Seraphim, João Busin, Reinaldo Guang Ruey Ma, Jerry Levers de Abreu and Heloisa Ferreira Andrade Scaramucci led the TozziniFreire team providing Brazilian counsel to CTG.
CTG also instructed White & Case lawyers in the New York, São Paulo, Singapore, Beijing and Shanghai offices of the firm.
Partners Pankaj Sinha, Katherine Ashley and Cliff Gross at Skadden in DC advised Duke Energy.
