Prime Energía Colombia S.A.S and Prime Colombia Barranquilla, S.A.S. entered into an agreement to acquire Zona Franca Celsia S A E S P from CELSIA S.A. E.S.P. for $420 million.
August 08, 2019
Share
Prime Energía Colombia S.A.S and Prime Colombia Barranquilla, S.A.S. entered into an agreement to acquire Zona Franca Celsia S A E S P from CELSIA S.A. E.S.P. (BVC:CELSIA) for $420 million on August 9, 2019. Prime Energía Colombia S.A.S and Prime Colombia Barranquilla, S.A.S will purchase 100% shares in Zona Franca contingent on the fulfillment of certain criteria. This transaction includes Flores I and Flores IV gas fired generation plants located in the city of Barranquilla and includes some additional assets necessary for its operation and expansion. Bancolombia, Société Générale, Intesa, and Itau provided a senior secured term loan facility and a working capital facility to Termoflores power plant, owned by Zona Franca Celsia, in connection with the transaction. The transaction is expected to be completed within about two months. Robert Leung and Mike Huang of Paul Hastings acted as legal advisors to Glenfarne Group and its subsidiary EnfraGen on the transaction. Andrés Hoyos Ramírez and Patricia Arrázola-Bustillo of Gómez-Pinzón Abogados acted as legal advisor for Prime Energía Colombia and Prime Colombia Barranquilla. Jaime Robledo Vásquez of Brigard & Urrutia S.A.S. acted as legal advisor for CELSIA S.A. E.S.P.
Celsia SA ESP, formerly Compania Colombiana de Inversiones SA ESP, is a Colombia-based company primarily engaged, through its subsidiaries, in the generation and distribution of electric energy. The Company has an installed capacity of over 1,700 megawatts (MW), which includes two thermal power stations: Zona Franca and Merilectrica, and the hydroelectric plant of Rio Piedras, as well as it also active in the transport and distribution of natural gas. In addition, the Company is involved in the development of such hydraulic projects as Alto Tulua, Hidromontanitas, Bajo Tulua and Cucuana. The Company owns such subsidiaries as Colener SAS, Empresa de Energia del Pacifico SA ESP, Compania de Electricidad de Tulua SA ESP and Colinversiones ZF SA ES.
Prime Energía Colombia S.A.S and Prime Colombia Barranquilla, S.A.S. entered into an agreement to acquire Zona Franca Celsia S A E S P from CELSIA S.A. E.S.P. for $420 million.
CELSIA S.A. E.S.P. 
