Blue Water Advisors LP Announces Agreements with Grupo Energía Bogotá with Respect to the Electro Dunas Group, Blue Water’s Electricity Distribution, Generation, and Services Platform in Peru

Source Press Release
Company Grupo Energía Bogotá S.A. E.S.P. 
Tags Corporate Deals, Deals, Refining & Marketing Activities
Date February 19, 2019

Blue Water Worldwide LLC, a fund managed by Blue Water Advisors LP (BWA), and its subsidiary Electro Dunas Cayman Holdings Ltd. have reached an agreement with Grupo Energía Bogotá S.A. E.S.P. (GEB) pursuant to which GEB will initiate, upon satisfaction of certain conditions, a public tender offer in the Lima Stock Exchange for the acquisition of 100% of the shares of Dunas Energía S.A.A. (DESAA), a company listed in the Lima Stock Exchange. DESAA owns 99.96% of the shares of Electro Dunas S.A.A.

In addition, Blue Water announced that its subsidiary PPC Cayman Holdings has reached an agreement with GEB for the sale of 100% of the shares of PPC Peru Holdings S.R.L. and Cantalloc Peru Holdings S.R.L.

Both transactions are subject to certain customary conditions, including the approval by the National Institute of the Defense of Competition and Intellectual Property Protection of Peru. The consummation of the transfer of the shares of DESAA to GEB will be subject to the successful completion of the public tender offer to be initiated by GEB.

Company Description

The Electro Dunas Group is a group of companies (Dunas Energía S.A.A., PPC Peru Holdings S.R.L., and Cantalloc Peru Holdings S.R.L., and their respective subsidiaries) whose principal activity is the distribution and commercialization of electricity in the Ica region as well as part of the Huancavelica and Ayacucho regions of Peru. Electro Dunas serves approximately 240,000 customers, and it has the highest quality of service indicators of any electricity distribution utility in Peru. The group also provides distributed generation solutions as well as construction, operation, and maintenance services for power infrastructure and equipment.

Advisors

Credit Suisse served as BWA’s financial advisor. Simpson Thacher & Bartlett LLP and Santivañez Abogados served as BWA’s U.S. and Peruvian legal counsel, respectively. Zuzunaga Assereto & Zegarra Abogados served as BWA’s Peruvian tax advisor.

Credicorp Capital served as GEB’s financial advisor and Philippi, Prietocarrizosa, Fererro DU & Uría and Estudio Rubio Leguía Normand as legal counsel. Calden advised GEB on regulatory and commercial matters and Mott MacDonald on technical issues. KPMG served as GEB’s tax advisor.

Source: EvaluateEnergy® ©2019 EvaluateEnergy Ltd