PPU represents EDF EN Chile in sale to AES Andes

Philippi Prietocarrizosa Ferrero DU & Uría has represented EDF EN Chile Holding, as seller, and Helio Atacama Tres in the negotiation and execution of a share purchase and subscription agreement, whereby EDF EN Chile and Marubeni Corporation sold all of their shares in the company to AES Andes as buyer.

This transaction was closed on 9 June. Garrigues Chile acted as advisor to Marubeni Corporation, while Barros & Errázuriz acted as advisor to AES Andes and Ashurst acted as advisor to the lenders.

The company owns a 146 MW solar plant, called “Bolero”, which includes an electrical substation and a 220 Kv transmission line.

The total value of the transaction amounts to USD 112.7 million, paid through a capital increase in the company by AES Andes, used to acquire the sellers’ shares in the company and to prepay outstanding debt and other financial obligations under a financing provided by a syndicate of banks to fund the project.

PPU’s team was led by partner Andrés Sanfuentes, with support from associates Guillermo Vial and Pedro Pablo Valenzuela.


The Latin American Lawyer