Spanish energy company Iberdrola′s acquisition of Elektro Eletricidade e Serviços from AEI in Brazil has closed – almost five months after the US company announced it was selling the bulk of its assets in Latin America.

Iberdrola′s US$2.4 billion acquisition gives it almost 100 per cent of Elektro′s capital.

Schmidt, Valois, Miranda, Ferreira & Agel Advogados and Machado, Meyer, Sendacz e Opice Advogados advised Iberdrola on negotiations with AEI, as well as obtaining approval from Brazil′s regulatory agencies ANEEL and the CADE and closing procedures.

As Latin Lawyer previously reported in January, international counsel in the deal was provided by Spain′s Garrigues Abogados, as well as US firm Latham & Watkins LLP, which also assisted Sempra Pipelines & Storage in its acquisition of AEI operations in Chile and Peru.

In the deal, which closed on 27 April, Iberdrola paid US$2.4 billion for a 99.68 per cent of Elektro′s capital.

AEI hired Pinheiro Neto Advogados in Brazil and UK firm Clifford Chance LLP.

Elektro supplies electricity in 228 municipalities within the state of Sao Paulo as well as in the state of Mato Grosso do Sul.

Counsel to Iberdrola


Latham & Watkins LLP

Partner David Kurzweil and associates Liliana Párias Neuburg and Justin Smith


Schmidt, Valois, Miranda, Ferreira & Agel Advogados

Partners Guilherme Schmidt, Marcos Gleich, Tacito Matos and Felipe Kfuri

Machado, Meyer, Sendacz e Opice Advogados

Partners Ivandro Sanchez, Ricardo Assaf and Eliana Chimenti


Garrigues Abogados

Partners Rafael Gonzalez-Gallarza and Daniel Armesto, and associates Jose Luis Ortin Romero and Antonio Matute

Counsel to AEI

In-house counsel to AEI - Maureen Ryan and Jeffrey Burk

In-house counsel to Elektro - Jessica Reaoch


Clifford Chance LLP

Partner David Brinton and associates Louis Sarok and Yeon Yoon


Pinheiro Neto Advogados

Partners Marcos Chaves Ladeira and Giancarlo Matarazzo, and associates Fernando Zorzo, Rodolfo Schreuders and Tiago Rocha

(Latin Lawyer 12.05.2011)

(Notícia na Íntegra)