Energia Bogota to acquire Dunas Group

Grupo Energía Bogotá SAESP (GEB) and Electro Dunas Cayman Holdings Ltd., a subsidiary of Blue Water Worldwide (BWW), a private equity fund based in New York, reached an agreement under which GEB undertakes to present a takeover bid on the Lima Stock Exchange for 100% of the shares of Dunas Energía SAA (DESAA), which in turn holds 99.96% of the shares of Electro Dunas SAA. Likewise, GEB and PPC Cayman Holdings, another subsidiary of BWW, reached an agreement for the acquisition by GEB of 100% of PPC Perú Holdings SRL and Cantalloc Perú Holdings SRL.

These agreements are subject to compliance with the usual terms and conditions for this type of transaction, including, among others, the authorization of the National Institute for the Defense of Competition and Intellectual Property in Peru. For its part, the effective closing of the acquisition of the shares of DESAA will depend on the success of the public offering that GEB will present in the Lima Stock Exchange to carry out said acquisition on the basis of the agreement subscribed.

Both agreements followed a rigorous process of due diligence and analysis advanced by GEB and by a group of specialized advisors including Credicorp Capital, in financial aspects; Philippi, Prietocarrizosa, Fererro DU & Uría and Estudio Rubio Leguía Normand in legal matters; Calden on regulatory and commercial issues; Mott MacDonald in technical aspects and KPMG in tax issues.

Once closed, this investment will represent an important growth movement for the GEB, consolidate its position as one of the main investors in the Peruvian energy sector, add value to its shareholders and open a new segment for the operation of the group (distribution and commercialization of electric power in Peru).