Gómez-Pinzón Abogados acted as counsel for Hydro Global Investment Limited, a company owned by China Three Gorges Corporation and EDP - Energias de Portugal, in the acquisition of 80% stake in Talasa Projectco S.A.S. E.S.P. and Talasa Conexión S.A.S. (the target companies), as well as the 80% of the rights and obligations under certain shareholder loan agreements into by the target companies and the sellers.
The transaction involved the jurisdictions of New York, Colombia, China (Hong Kong), and Cayman Islands and closed November 19th.
The target companies were acquired from Macquarie Development Corporation (sellers), a corporation owned by Macquarie Capital, China Communications Construction Company and Banco Modal.
The target companies will jointly undertake the Talasa Project, which foresees the construction of three run-of-river hydroelectric plants with a combined capacity of 170.9 mw in Rio Atrato in the Department of Choco, Colombia and classified as a project of strategic national importance.
The transaction represents the first investment made by Hydro Global Investment Limited in Colombia.
The Gómez team was made up of partner Andrés Hoyos, senior associate Juan David Quintero, associates Natalia Villamizar and junior associate Juan Sebastián Parra.
Baker McKenzie acted as counsel to the sellers, Philippi Prietocarrizosa Ferrero DU & Uria served as counsel to the target companies, while Garrigues acted for Universal Stream S.A.S. E.S.P. (participating party).