Nueva Atacama (formerly known as Aguas Chañar) is a water treatment and distribution provider for several cities in the Atacama desert region of Chile. The plant manages production and distribution of drinking water and the collection, treatment, and final disposal of sewage.

The system’s water piping networks run for a total of 859km, providing service to 96,000 clients, including some mining companies. In 2019, the plant produced and treated 26 million cubic meters of drinking water and sewage.

Nueva Atacama is the holder of the right to exploit the concessions of the public utilities for the production and distribution of drinking water and the collection and disposal of sewage in the towns of Copiapó, Chañaral, Caldera, El Salado, Diego de Almagro, Inca de Oro, Tierra Amarilla, Vallenar, Freirina and Huasco, in Chile’s Atacama region.

This acquisition is part of the divestment process being carried out by Toesca Infrastructure Investment Fund, which will be ongoing until March 2024.

The closing of the transaction is subject to the fulfillment of certain usual conditions for this type of operations, including the favorable pronouncement of the free competition authorities in accordance with the notification regime of concentration operations according to the current legislation on the matter.

Subject to certain adjustments according to the final closing date, the total price for the acquisition of the shares will be 27.62 billion pesos (around $34.3 million). In addition, Toesca Infrastructure Investment Fund will assign to Aguas Nuevas or the company it designates, a demand credit granted by Toesca to Nueva Atacama S.A. on July 30, 2018, in the amount of 18.02 billion pesos ($22.3 million).

Chilean law firm Russi & Eguiguren | Quadrant acted as legal advisors to Aguas Nuevas, with a team led by José Miguel Sanhueza and Jaime Salas.

Toesca Infraestructura Fondo de Inversión was represented by Matías de Marchena and Juan León of Chilean law firm Claro & Cía.