IFLR1000

China Three Gorges $1.39 billion acquisition of Empresa de Generación Huallaga

25/4/2019
Private acquisition
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$ 1.39 billion

Completed

25/4/2019

Overview:

  • A consortium led by China Three Gorges, a Chinese state-owned power company, has acquired Empresa de Generación Huallaga, developer and permanent concessionaire of Peru's Chaglla hydroelectric power plant, for $1.39 billion, from Odebrecht.
  • The Chaglla plant has a capacity of 456MW. 
  • This was China Three Gorges' first acquisition in Peru. 
  • The consortium undertook $850 million syndicated facility to finance the acquisition.

Rani Mehta - Latin America Editor

Jurisdictions:

Peru
China

Deal type:

Private acquisition

Practice area:

M&A

Industry sector:

Energy

Firms:
Allen & Overy

Party: Bank of China Ltd (Lead arranger)

Lawyers: Bruno Soares, Yvonne Ho

Estudio Muñiz - Muñiz Olaya Meléndez Castro Ono & Herrera Abogados

Party: China Three Gorges (Acquirer)

Lawyer: Jorge Otoya

Hernández & Cía

Party: Bank of China Ltd (Lead arranger)

Lawyer: Brendan Oviedo

Loyens & Loeff

Party: China Three Gorges (Acquirer)

Lawyer: Marco Toni

Miranda & Amado

Party: Odebrecht (Seller)

Lawyer: Luis Marcelo De Bernardis

Rodrigo Elías & Medrano Abogados

Party: Inter-American Development Bank (Lender)

Party: BNDES (Lender)

Party: Deutsche Bank (Lender)

Lawyer: Juan Diego De Vinatea

Sullivan & Cromwell

Party: China Three Gorges (Acquirer)

Lawyers: Chun Wei, Sergio Galvis, Werner Ahlers

White & Case

Party: Odebrecht (Seller)

Lawyer: Oliver Brahmst

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