Business & Leadership

Polaris Infrastructure Acquires Union Energy Group Corp

Hernandez & Cía Abogados, Cassels Brock & Blackwell and Harneys advised Polaris Infrastructure, Inc. in the acquisition of Union Energy Group Corp. (UEG), a Peru-based developer of run-of-river hydro projects.

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Hernandez & Cía Abogados, Cassels Brock & Blackwell and Harneys advised Polaris Infrastructure, Inc. in the acquisition of Union Energy Group Corp. (UEG), a Peru-based developer of run-of-river hydro projects.


The deal closed October 30th and included the jurisdictions of the United States, Canada, Peru and the British Virgin Islands, and involved six banks and 12 law firms.

 

UEG’s portfolio includes 344MW hydropower projects, including the 5MW Canchayllo hydropower plant under operation and the 8MW El Carmen and 19MW 8 de Agosto hydropower projects under construction.

 

The deal included the restructuring of a senior loan granted by FMO and DEG to Generación Andina SAC, for which Polaris was assisted by Peru’s Hernandez & Cía Abogados and Canada’s Borden Ladner Gervais. In addition, the deal gives Polaris direct and indirect control acquisition of 17 corporations owned by UEG.

 

The Hernández & Cia team was made up of partners Brendan Oviedo and Fernando Nuñez, assisted by international associate Julien Labory-Alicq, senior associate Evelyn Lopez and associates Daniela Falcone and Andrés Marcos.

 

Hernandez & Cía Abogados, Cassels Brock & Blackwell, Borden Ladner Gervais, Harneys, Grant Thornton and Taylor Wessing acted for Polaris

 

DLA Piper Pizarro Botto Escobar and Becker, Glynn, Muffly, Chassin & Hosinski served as Peruvian and US counsel to FMO and DEG, respectively.

 

Casahierro Abogados acted as legal counsel to Oikocredit Ecumenical Development Cooperative Society, Rodrigo, Elías & Medrano Abogados as counsel to Inversiones Capital Global, while Rebaza, Alcázar y De las Casas as counsel to Inter-American Investment Corporation and Patton, Moreno & Asvat as Uruguayan counsel to UEG.

 

C.G.L.

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