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

NEW YORK–(BUSINESS WIRE)–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 Energía Bogotá 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 Energía 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 Energía 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 BWA’s financial advisor. Simpson Thacher &
Bartlett LLP and Santivañez Abogados served as BWA’s U.S. and Peruvian
legal counsel, respectively. Zuzunaga Assereto & Zegarra Abogados served
as BWA’s Peruvian tax advisor.

Credicorp Capital served as GEB’s financial advisor and Philippi,
Prietocarrizosa, Fererro DU & Uría and Estudio Rubio Leguía Normand as
legal counsel. Calden advised GEB on regulatory and commercial matters
and Mott MacDonald on technical issues. KPMG served as GEB’s 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. BWA’s
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 Energía Bogotá

With more than 120 years of history, Grupo Energía Bogotá (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.

Contacts

Media
Dan Gagnier / Jeff Mathews
Gagnier Communications
Tel :
+1-646-569-5897
Email: [email protected]

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