Blue Water Advisors LP Announces Agreements with Grupo Energía Bogotá with Respect to the Electro Dunas Group, Blue Water’s Electricity Distribution, Generation, and Services Platform in Peru

Blue Water Worldwide LLC, a fund managed by Blue Water Advisors LP (BWA), and its subsidiary Electro Dunas Cayman Holdings Ltd. have reached an agreement with Grupo Energ­a Bogot¡ S.A. E.S.P. (GEB) pursuant to which GEB will initiate, upon satisfaction of certain conditions, a public tender offer in the Lima Stock Exchange for the acquisition of 100% of the shares of Dunas Energ­a S.A.A. (DESAA), a company listed in the Lima Stock Exchange. DESAA owns 99.96% of the shares of Electro Dunas S.A.A.

In addition, Blue Water announced that its subsidiary PPC Cayman Holdings has reached an agreement with GEB for the sale of 100% of the shares of PPC Peru Holdings S.R.L. and Cantalloc Peru Holdings S.R.L.

Both transactions are subject to certain customary conditions, including the approval by the National Institute of the Defense of Competition and Intellectual Property Protection of Peru. The consummation of the transfer of the shares of DESAA to GEB will be subject to the successful completion of the public tender offer to be initiated by GEB.

Company Description

The Electro Dunas Group is a group of companies (Dunas Energ­a S.A.A., PPC Peru Holdings S.R.L., and Cantalloc Peru Holdings S.R.L., and their respective subsidiaries) whose principal activity is the distribution and commercialization of electricity in the Ica region as well as part of the Huancavelica and Ayacucho regions of Peru. Electro Dunas serves approximately 240,000 customers, and it has the highest quality of service indicators of any electricity distribution utility in Peru. The group also provides distributed generation solutions as well as construction, operation, and maintenance services for power infrastructure and equipment.

Advisors

Credit Suisse served as BWAs financial advisor. Simpson Thacher & Bartlett LLP and Santiva±ez Abogados served as BWAs U.S. and Peruvian legal counsel, respectively. Zuzunaga Assereto & Zegarra Abogados served as BWAs Peruvian tax advisor.

Credicorp Capital served as GEBs financial advisor and Philippi, Prietocarrizosa, Fererro DU & Ur­a and Estudio Rubio Legu­a Normand as legal counsel. Calden advised GEB on regulatory and commercial matters and Mott MacDonald on technical issues. KPMG served as GEBs tax advisor.

About

Blue Water Advisors

Blue Water Advisors LP (BWA) is a private equity firm focused on acquiring and developing real asset-based businesses. In addition to flexible, long-term capital, the firm leverages its technical expertise in its acquisitions and to drive long-term value creation. BWAs management team possesses significant experience in acquiring, developing, and operating real asset-based businesses and have partnered with world class executives and entrepreneurs to build platform companies that are leaders in their respective markets. For more information, please visit: www.bwalp.com

Grupo Energ­a Bogot¡

With more than 120 years of history, Grupo Energ­a Bogot¡ (GEB) is a holding company that is a leader in transmission and distribution of energy, and transportation and distribution of natural gas in Colombia, Peru, Brazil, and Guatemala. In Colombia, its transmission unit develops electrical energy projects and, through TGI, is number 1 in natural gas transportation, with more than 4,000 kilometers of gas pipelines. In addition, GEB has equity participations in Codensa, Emgesa, Vanti, and Emsa. In Peru, GEB is number 1 in natural gas distribution through its subsidiaries Calidda and Contugas; and, through ISA REP and ISA Transmantaro, in which GEB has an equity participation of 40%, the Group is a leader in the transmission of energy. In Brazil, through Gebbras, in association with Furnas, the Group has 1,100 kilometers of transmission lines. In Guatemala, GEB is number 1 in transmission of energy with its subsidiaries TRECSA and EEBIS.

Media
Dan Gagnier / Jeff Mathews
Gagnier Communications
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