VIP Green Mobility acquires Colombia’s Celsia Move

Colombian energy company Celsia, part of Grupo Argos, has sold its electric transportation unit Celsia Move to VIP Green Mobility for 122.5 billion Colombian pesos ($30.4 million).

Posted vendredi, décembre 17 2021
VIP Green Mobility acquires Colombia’s Celsia Move

Electric vehicle leasing company VIP Green Mobility is a subsidiary of Vitol, a Geneva-based energy and commodities trader, while Celsia Move is the concessionaire for Empresa de Transporte del Tercer Milenio to provide a fleet of 120 electric buses for Colombia’s capital Bogotá.

The closing of the transaction occurred on November 30th, and has been approved by the country’s Superintendence of Industry and Commerce watchdog.

The transaction included the negotiation of a bridge loan with Natixis, the funds from which were used to pay part of the acquisition price.

This is the first transaction in Colombia involving the acquisition of a concessionaire of the country’s public transport system.

“The creation of Celsia Move and participation in the first Transmilenio tender with the award of 120 electric buses allowed us to actively work to promote the arrival of mass electric transport options to the country, as we had already done in Cali,” Celsia said in a statement.  

“This sale marks the new direction that Celsia will have in electric mobility, focused on the development and operation of the electrical infrastructure necessary for the connection of charging stations, chargers, batteries, storage and the supply of electricity for different initiatives of sustainable mobility in Colombia,” it added.

VIP Green Mobility was advised on the transaction by Colombian law firm Gómez-Pinzón, whose team featured partner Natalia García Arenas, senior associates Juan Antonio Ucrós Pinzón and Paola Valderrama Ortiz, associate Andrea Stephanou Cruz and junior associate Juan Felipe Sáenz Dussán.

Celsia was advised by Contexto Legal, with a team led by partner Guillermo H. Villegas Ortega, with senior associates Sara Marcela Aldana and Daniela Perez Otalvar.

Celsia’s in-house counsel was Verónica Toro Álvarez.