China’s State Grid to Acquire Chilean Utility Company Compania General de Electricidad for $3 Billion

Paul, Weiss is advising China-based utilities company State Grid International Development Limited in its $3.04 billion acquisition of Compania General de Electricidad S.A. (CGE) from Naturgy Energy Group S.A. The acquisition will include Naturgy Energy’s 96 percent holding in CGE, the largest distribution network and second-largest transmission network in Chile. This is the largest transaction signed in Chile this year, and State Grid’s second major recent acquisition in Chile; a $2.23 billion transaction, on which Paul, Weiss also advised, closed in June.

The Paul, Weiss team included, among others, corporate partner Judie Ng Shortell.