Grupo Energía Bogotá concludes acquisition of Electro Dunas Group

Grupo Energía Bogotá S.A. E.S.P. (GEB) and Blue Water Worldwide LLC, a fund managed by Blue Water Advisors LP (Blue Water), have announced  that Electro Dunas Cayman Holdings Ltd., a subsidiary of Blue Water, had completed the transfer to GEB of 100% of the shares of Dunas Energía S.A.A. (DESAA), a company listed in the Lima Stock Exchange, through a public tender offer in the Lima Stock Exchange. DESAA owns 99.96% of the shares of Electro Dunas S.A.A.

In addition, GEB and Blue Water announced that GEB had completed the acquisition of 100% of the shares of PPC Peru Holdings S.R.L. and Cantalloc Peru Holdings S.R.L. from PPC Cayman Holdings, a subsidiary of Blue Water.

The Electro Dunas Group is a group of companies (DESAA, 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.

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

Kallpa Securities Sociedad Agente de Bolsa S.A. served as intermediary agent of GEB and Blue Water.