Garrigues advise Celsia on the energy sector assets in Panama and Costa Rica of
Celsia acquired the energy sector assets in Panama and Costa Rica of GDF Suez for a company value of USD 840 million. Garrigues advised Celsia for certain key matters related to the corporate and tax structuring of the transaction. We were not the advisors of Celsia for the transaction documentation (it was governed by New York law).
The matter is important because it involved a deep multi-jurisdictional analysis of tax and corporate matters. As a result of this transaction, Celsia's energy generation capacity will increase by 535 MW and Celsia will become Panama's second largest energy generator in terms of installed capacity.