China’s State Grid Acquires Chilquinta Energía

Paul, Weiss advised China-based State Grid International Development Limited in its $2.23 billion acquisition of Chilean power company Chilquinta Energía S.A. from Sempra Energy, a North American energy infrastructure company. State Grid is a wholly-owned subsidiary of the State Grid Corporation of China, the world’s largest utility company.

The acquisition includes Sempra Energy’s 100 percent interest in Tecnored S.A., which provides electric construction and infrastructure services to Chilquinta and third parties, and its 100 percent interest in Eletrans S.A., which owns, constructs, operates and maintains power transmission.

The Paul, Weiss team included corporate partner Judie Ng Shortell and counsel Kit Mak and Margot Wagner; tax partner David Sicular; litigation partner Chris Boehning; and antitrust counsel Marta Kelly.