White & Case Advises Sempra Energy on US$2.23 Billion Divestiture of Chilean Businesses
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Global law firm White & Case LLP has advised Sempra Energy on the completion of the sale of its Chilean businesses, generating approximately US$2.23 billion in total cash proceeds, subject to post-closing adjustments. The sale to State Grid International Development Limited (SGID) includes Sempra Energy’s 100 percent stake in Chilquinta Energía S.A. (Chilquinta Energía).
The sale also includes a 100 percent interest in Tecnored S.A., which provides electric construction and infrastructure services to Chilquinta Energía and third parties, and a 50 percent interest in Eletrans S.A., which owns, constructs, operates and maintains power transmission facilities.
Chilquinta Energía is the third-largest distributor of electricity in Chile. Chilquinta Energía provides electricity to a population of approximately two million in the regions of Valparaíso and Maule in central Chile and is active in the development and operation of electric transmission lines.
The White & Case team that advised on the transaction was led by partners Thomas Lauria and Marwan Azzi, and included partners Greg Pryor, Michael Deyong, David Dreier, Henrik Patel, Arlene Arin Hahn and Seth Kerschner, as well as associates Jennifer Djavaherian, Jason Krause, Arian Mossanenzadeh and Grayson Weeks in New York; partner Vivian Tsoi in Shanghai; and partner Grace Fan-Delatour, local partner Shaohui Jiang and associate Xiaofeng (Allison) Gong in Beijing.
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