mARCH 2012
www.lawyer-monthly.com DEAL REPORT
AIMCO COMPLETES ACQUISITION OF 50% INTEREST IN GRUPO SAESA
Alberta Investment Management Corporation (AIMCo) has agreed on behalf of its clients to acquire Morgan Stanley Infrastructure Partners 50% interest in Inversiones Grupo Saesa Limitada (Grupo SAESA), a regulated electricity transmission and distribution company in Chile. AIMCo looks forward to working alongside the other 50% owner, Ontario Teachers’ Pension Plan. AImCo CEO, Leo de Bever said: “AImCo is pleased to acquire a 50% interest in Grupo
SAESA a company that will be a vital part of the continued growth and development of the Chilean economy. We believe that through investments in core infrastructure like transmission and distribution, AImCo can contribute to the ongoing growth story in Chile alongside our existing investment in Autopista Central.” Further, mr. de Bever stated: “AImCo believes Chile’s well-established and stable
regulatory environment provides strong support for private capital investment to meet the needs of a rapidly-growing Chilean economy.” Grupo SAESA is the second largest electricity distributor in Chile and comprised of
seven subsidiaries primarily involved in electricity distribution and transmission. The company delivers electricity to 16% of Chile’s population in a concession area measuring over 44,000 square kilometres. The company owns and operates over 53,500 kilometers of distribution and transmission lines and serves approximately 700,000 customers. Robert mah, AImCo SVP Infrastructure & Timber further states: “We are excited to
own, on behalf of our clients, an electricity transmission and distribution business that will become a cornerstone holding for AImCo in a country that has proven over may decades to be extremely attractive for foreign investment.” LM
Legal Transactions 99
DEAL REPORT
NESTLE ACQUIRES 60% STAKE IN HSU FU CHI INTERNATIONAL LIMITED
Nestlé has entered into a partnership agreement with the founding family of Hsu Fu Chi, a leading manufacturer and distributor of confectionery products in China, listed in Singapore (HFCI:SP). Under the proposed agreement, Nestlé intends to acquire 60% of Hsu Fu Chi whilst the Hsu family will own the remaining 40%. Hsu Fu Chi’s current CEO and Chairman, Mr. Hsu Chen, will continue to lead the company in the new partnership. Nestlé CEO Paul Bulcke: “This partnership will greatly reinforce our presence in
a 60% stake in Hsu Fu Chi International Limited (Hsu Fu Chi) for S$2.1 billion. The transaction involves the acquisition of a 43.52% interest from Hsu Fu Chi’s independent shareholders by way of a scheme of arrangement and a 16.48% interest from the individual shareholders. This is possibly the second-largest foreign acquisition of a mainland firm in 2011. Partners David Chong and Ho Ying ming advised on the transaction. LM
China. It combines Hsu Fu Chi’s strong brands, its large portfolio of products at affordable price points, its efficient operations and entrepreneurship with our proven innovation and renovation capabilities, supported by our R&D Centres in China. It also demonstrates our long-term commitment to China and enhances our ability to grow our portfolio of international and local brands in this dynamic market.” Shook Lin & Bok advised Nestlé S.A. as Singapore counsel in its acquisition of
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