Marubeni dips toe in Peruvian water

August 04, 2009 3:24 PM

Japan's Marubeni Corporation has acquired a stake in a local water company in Peru. Marubeni is a.o. preference shareholder of Aqualectra Curacao and shareholder of Curacao Utilities Co(BOO).

Peruvian law firms Payet Rey Cauvi Abogados and Estudio Bellido Saco-Vértiz & Bellido have helped Japan's Marubeni Corporation acquire a stake in a local water company.
Estudio Bellido advised the Japanese trading group in its purchase of a 29 per cent stake in Consorcio Agua Azul, which operates a water treatment plant in northern Lima servicing 800,000 people. Payet Rey Cauvi represented the seller, Peruvian private equity fund AC Capitales.

The deal, announced on 27 July, represents Marubeni's second waterworks investment in South America, following its 2006 takeover of Aguas Decima, a wastewater services company in Valdivia, northern Chile.

The value of the transaction has not been disclosed. Consorcio Agua Azul is valued at US$50 million, with annual sales of US$13 million. Its other shareholders include Italy's Acea and Impregilo infrastructure groups, who sold AC Capitales its stake in 2006.

AC Capitales is owned by Peru's Apoyo consultancy group.

Counsel to Marubeni Corporation

* Estudio Bellido Saco-Vértiz & Bellido

Partner Carlos Saco-Vértiz Tudela

Counsel to Consorcio Agua Azul

* Payet Rey Cauvi Abogados

Partner Juan Antonio Egüez and associate Héctor Zegarra

(Source: Magazine Latin Lawyer)

August 4, 2009