Enel agrees to sell its generation business in Peru to Actis
On November 22, 2023, Enel group announced that its subsidiaries, Enel Americas S.A. and Enel Perú S.A.C., reached an agreement with Niagara Energy S.A.C., a company controlled by the British fund Actis, for the sale of their shares representing approximately 86.96% of Enel Generación Perú S.A.A. and 100% of Compañía Energética Veracruz S.A.C. for a total of USD 1.4 billion, subject to price adjustments common in such transactions due to the time elapsed between signing and closing. The transaction is expected to close in the second quarter of 2024, subject to customary conditions, including the prior approval of concentration control by INDECOPI, the regulatory authority for competition matters in Peru.
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Legal advisors for Enel:
- Rebaza Alcázar & De las Casas: Partners Luis Miguel Elías and Alberto Rebaza. Senior Associates Pedro Díaz, David Baracco, and Rafael Santín. Associates Josefina Arana, Fiorella Wismann, Fernando Rodríguez, and Rosario Miranda.
- Hogan Lovells: Partner Luca Picone. Counsel Pierluigi Feliciani. Senior Associate Martino Filippi.
Legal advisors for Actis:
- Garrigues: Partners Sergio Amiel and Thomas Thorndike. Counsel Héctor Zegarra. Senior Associates Miluska Gutiérrez and Mónica Irrazabal. Associates María José Cardoza and Stefano Valer.
- Milbank: Partners Aaron Stine, John Franchini, and Stine, Aaron. Counsels Ross Shepard and John Garces. Associates Joysheel Shrivastava, Christina Welch, and Christina Sonageri.