S&C LatAm Partner Sergio Galvis Quoted by Inframation on Peru Investment ClimateAugust 28, 2019
S&C partner Sergio Galvis, who heads the Firm's Latin America practice, was quoted in an Inframation article titled “Case Study: When China Three Gorges went to Peru.” The article examines China's Latin America investment strategy through the lens of the decision by a Chinese consortium headed up by state-owned power company and S&C client China Three Gorges to purchase Peru's Chaglla hydroelectric plant. It's a strategy that makes sense, as Sergio explained: “Peru is one of the Latin American countries that provides long-term growth potential with a relatively well-developed and stable legal regime and an open view toward foreign investment,” he told Inframation.
Sergio, together with S&C partners Werner Ahlers in New York and Chun Wei in Hong Kong, advised the CTG-led consortium in the $1.39 billion purchase, which was completed in May. Partners Jamie Logie, Garth Bray and Kay Ian Ng in Hong Kong advised on financing matters, including securing the bridge loan and the credit facility. The acquisition is CTG's first purchase in Peru, as the presence of Chinese energy companies continues to grow in Latin America. Jamie Logie recently discussed the deal on the S&C Critical Insights podcast series—click here to listen.