Fontus España acquired Six Renewable Operating Assets in Panama and Costa Rica from CELSIA S.A. E.S.P..
November 15, 2023
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Fontus España entered into an agreement to acquire Six Renewable Operating Assets in Panama and Costa Rica from CELSIA S.A. E.S.P. (BVC:CELSIA) for approximately $190 million on May 5, 2023. SIGMA Law Firm in Panama, and Dentons Muñoz in Costa Rica acted as legal advisors to EnfraGen, parent of Fontus España in the deal. Robert W. Leung and Mike F. Huang of Paul Hastings LLP acted as legal advisor to EnfraGen. Paola Lozano, Emilia Arango, Alejandro González Lazzeri and Jose Nicolas Perez-Sierra of Skadden, Arps, Slate, Meagher & Flom acted as legal advisors for CELSIA. Alcogal acted as Celsia?s advisor in Panama and BLP as its advisor in Costa Rica. Arias & Muñoz, El Salvador acted as legal advisor to Fontus. Bancolombia S.A. (BVC:BCOLOMBIA) acted as financial advisor to CELSIA.
Fontus España acquired Six Renewable Operating Assets in Panama and Costa Rica from CELSIA S.A. E.S.P. (BVC:CELSIA) on November 16, 2023. Jaime Ramirez and Dan Bartfeld, Kristina Hokenberg from Milbank LLP represented the lenders and hedge counterparties in connection with the financing of EnfraGen, LLC?s acquisition of six assets in Panama and Costa Rica.Afry AB (OM:AFRY) provided technical due diligence to EnfraGen LLC parent of Fontus España in the transaction.
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.
CELSIA S.A. E.S.P. 
