News & Events

Simpson Thacher has represented PPL Corporation ("PPL") in connection with the divestiture of its Latin American regulated electric delivery businesses in Bolivia, Chile and El Salvador, for a total consideration of $851 million. The final sale was completed on November 6, 2007 with the sale of PPL's interest in its Chilean electricity delivery business to Compañía General de Electricidad S.A. ("CGE") for $660 million. Through a stock purchase agreement, CGE has acquired PPL’s 95.4 percent interest in Empresas Emel S.A., which is headquartered in Santiago and has 575,000 customers in central and northern Chile. Previous sales, all completed this year, included the sale of PPL's controlling interest in its El Salvadorean electricity business to Ashmore Energy International, and the sale of PPL's controlling interest in its Bolivian electricity delivery business and a related construction company to a group organized by the management team and employees.

The Simpson Thacher team working on this transaction included Vince Pagano, Brian Chisling and Pierre-Luc Arsenault (Corporate); and Peter Rosen (Tax).