Leading global law firm in Latin America, Baker McKenzie, recently brokered a historic sale of Colombian electric company Empresa de Energía de Boyacá (“EBSA”). Representing Brookfield Infrastructure, 99.2% of EBSA was sold to Northland Power Inc. for over USD 700 milllion (including existing debt) subject to certain purchase price adjustments following receipt of final approval of EBSA’s tariff by the regulator. This sale marks a shift in ownership in one of Colombia’s top players in the energy market.
The deal was a joint success between the Baker McKenzie offices in Bogotá, Colombia, and New York. The Firm’s global footprint allowed for regional collaboration for clients involved in the deal. The complete team included Andrés Crump (lead partner), and associates Natalia Gutiérrez de Larrauri, Natalia Ponce de León, and Felipe Sanclemente from Colombia and partners Mark Mandel and Nicholas Marchica, as well as associate Laura Estrada-Vasquez from the Baker McKenzie New York office.
“Colombia is one of the key markets in Latin America, as the energy sector continues to grow throughout the region,” explains Lead Partner Andrés Crump from Baker McKenzie. “Our partnership with Brookfield Infrastructure in this historic deal with Northland Power, demonstrated the breadth of Baker McKenzie’s regional knowledge and attention to client detail.”
EBSA provides energy for an estimated 1.3 million people in the department of Boyacá and surrounding areas.