Chadbourne & Parke represented the AES Corporation (AES), a global power company, in connection with the sale of its entire interest in three businesses in Cameroon to emerging markets investor Actis for US$202 million. The sale was completed on June 12, 2014. The transaction included the sale of a 56 percent equity interest in Société Nationale d’Electricité, Cameroon’s integrated electricity utility, and in two independent power plants: Kribi, a 216 MW gas-fired power plant, and Dibamba, an 86 MW heavy fuel oil-fired plant, in Cameroon.
“We are very pleased to have reached a successful conclusion for all parties in this complex, cross-border sale,” said partner Charez Golvala, who led the Chadbourne corporate team. “We are particularly delighted to have worked with AES on another of its strategic disposals, having represented it on the sale of its power distribution businesses in Ukraine. These deals are closely aligned to Chadbourne’s strengths in the energy sector and emerging markets.”
The Chadbourne team included Charez Golvala, Paul White, Alexandra Neovius, Marc Norman, Henry Andreae and Sayjel Revell.
Baker Botts served as co-counsel on the transaction.
