Garrigues and Durán & Osorio advised on the transaction
Enel Américas, in its capacity as controlling shareholder of Colombian subsidiaries Emgesa S.A. ESP and Codensa S.A. ESP, signed on Friday a new investment framework agreement with Grupo Energía de Bogotá SA ESP (GEB), its partner in these subsidiaries. This latest investment framework agreement, which will only become effective by meeting certain conditions and obtaining the required corporate authorizations from both partners, seeks to govern the future shareholder relationship between Enel Américas and GEB.
This new framework agreement would allow the integration of the renewable business into their joint investments. The definition of new corporate governance rules is more in line with this current stage’s unique objectives and opportunities. The parties would propose settlement agreements for the existing arbitration claims between them.
The economic effects of this agreement are not quantifiable at this date.
Garrigues advised Enel Américas S.A. with Ignacio Londoño (Picture) and Paola Valderrama Ortiz.
Durán & Osorio advised Grupo de Energía Bogotá S.A. E.S.P. with Jorge Gabriel Taboada, Álvaro José Gasca, Camila Angulo and Diego Duarte.
Involved fees earner: Diego Duarte – Duran & Osorio; Álvaro José Gasca – Duran & Osorio; Jorge Gabriel Taboada – Duran & Osorio; Ignacio Londoño Rivera – Garrigues; Paola Valderrama Ortiz – Garrigues;