Mattos Filho, Veiga Filho, Marrey Jr e Quiroga Advogados has helped UK private equity group Actis acquire three Brazilian power transmission assets from Portuguese EDP Energias for 1.3 billion reais (US$237 million).
L O Baptista Advogados advised the seller, which acted through its local subsidiary EDP Energias do Brasil.
The parties signed the deal on 19 October. It is pending approval by antitrust watchdog CADE and electricity regulator ANEEL. The sale is expected to close before the end of the year.
The deal hands Actis total control over EDP Transmissão, EDP Maranhão I and EDP Maranhão II. The transmission assets cover 439 kilometres and have an annual allowable revenue (RAP) of 131 million reais (US$23.5 million).
Actis is a leading investor in sustainable infrastructure and is frequently involved in Latin American energy transactions. In August, the British fund sold Mexican private power generator Saavi Energía to US investment fund Global Infrastructure Partners (GIP) for US$275 million. Before that, it obtained a US$67 million loan to build solar plants in northeastern Brazil, while it also sealed a power purchase agreement (PPA) with US company Dow Chemicals.
Lisbon-headquartered EDP has over 20 years of experience operating in Brazil and is one of the world’s largest private electricity companies. In South America’s largest economy, it serves some 3.5 million customers in the states of São Paulo and Espírito Santo and employs more than 10,000 people. Last month, it agreed to purchase Brazilian state-owned electricity company Celg Transmissão (Celg-T) for 1.9 million reais (US$361 million).
Counsel to Actis
Mattos Filho, Veiga Filho, Marrey Jr e Quiroga Advogados
Partner Victor Gelli Cavalcanti and associates Maria Clara Vargas Vieira Astrachan and Anna Luiza Pires da Costa Braga
Counsel to EDP Energias do Brasil
L O Baptista Advogados
Partners Marta Rodrigues, Maria Beatriz Grella Vieira, Renata Castro Veloso and Patricia Agra Araujo, and associate Kemil Raje Jarude