Gómez Pinzón has advised Empresa de Energía del Pacífico EPSA in the acquisition from its parent company, Celsia, of two operative hydroelectric plants (Hidromontañitas and Rio Piedras) located in Antioquia, one hydroelectric construction project (San Andrés) also located in Antioquia and more than 15 real estate properties for the construction of solar energy farms located in Bolivar, Santander and Tolima. The $205m deal closed November 21st.
The acquisition included a majority stake in the issued and outstanding shares of Begonia Power S.A.S., a corporation organized under the Colombian law, which carry out a wind energy project with construction of wind farms, located in la Guajira, Colombia.
In addition, the transaction also involved the subscription of a representation agreement between EPSA and Celsia to buy energy and operate a thermoelectric plant (Meriléctrica) located in Santander, and represent Celsia before the Colombian energy market. The deal took three years to get the agreement of buyer, seller, and shareholders.
Gómez Pinzón was the legal counsel of Empresa de Energía del Pacífico EPSA, who acted as buyer in the transaction, with a team led by partners José Luis Suárez, Felipe Mariño Dueñas and Patricia Arrázola, assisted by associate Juan Camilo Varón Álzate and junior associate Santiago Medellín.
Brigard & Urrutia was the legal counsel of Celsia, who acted as the seller in the transaction, with a team led by partners Sergio Michelsen and Darío Laguado Giraldo, assisted by directors Tomás Holguín Mora and Claudia Navarro, assisted by Juan Pablo Malaver.