Miami, Florida, June 18, 2008 Bilzin Sumberg Baena Price & Axelrod LLP announces that it represented Energeticos S.A., a Panamanian company, in the sale of its interests in Tipitapa Power Company, Ltd. ("Tipitapa") to AEI, a privately-owned company that manages, operates and owns interests in energy infrastructure businesses throughout the world. The acquisition was successfully completed on June 11, 2008.
Richard M. Goldstein, Partner in Bilzin Sumberg's Corporate & Securities Group and Co-Chair of the Tax Group led the Bilzin Sumberg team which handled the overall structuring, negotiation and documentation of the transaction on behalf of Energeticos S.A. The overall transaction also included the sale of Texas El Pasos interest in Tipitapa to AEI, as well as AEI's acquisition of an Inter-American Development Bank loan.
Tipitapa operates a 50.9 megawatts diesel power plant in Nicaragua, which was funded in 1998 by a loan from the Inter-American Development Bank. Bilzin Sumberg advised Tipitapa in the original creation and financing of the joint venture with Coastal Power Nicaragua, Ltd., an affiliate of Coastal Power Company.
About Bilzin Sumberg
Bilzin Sumberg Baena Price & Axelrod LLP is a commercial law firm based in Florida. The firm’s core practices include Business Finance & Restructuring, Corporate, Environmental, International, Land Development & Government Relations, Litigation, Real Estate and Tax. For more information, please visit bilzin.com.