Campos Mello Advogados advises Starboard in joint acquisition of Pampa Sul power plant in deal worth approximately BRL$2.2 billion

Campos Mello Advogados (CMA), in cooperation with DLA Piper, advised Grafito Fundo de Investimento em Participações Infraestrutura (Starboard), an investment fund managed by Starboard, in the joint acquisition of the Pampa Sul thermal power plant with Perfin.

Starboard and Perfin agreed to acquire 100 percent of Pampa Sul from Engie, one of the largest coal thermoelectric plants in operation in Brazil, for BRL$450 million and assuming a debt equivalent to BRL$1.8 billion.

Located in Candiota, Rio Grande do Sul, Pampa Sul has an installed capacity of 345 megawatts and serves about 1.3 million people in the region. The plant has long-term contracts for the sale of energy in the regulated market until 2044.

“Congratulations to Starboard in its joint acquisition of the Pampa Sul power plant. It was an honor collaborating with their team and bringing together our deep M&A and corporate transactions capabilities in the energy sector,” said Camila Caetano, the partner who co-led the team that represented Starboard.

In addition to Caetano (Rio de Janeiro), the deal team was co-led by Oduvaldo Lara Júnior (São Paulo) and included partners Victor Kampel, Humberto Marini, Marcio Meira, Rafael Jordão Bussière, Vilmar Luiz Graça Gonçalves, Alexandre Bittencourt Calmon (all of Rio de Janeiro), and Felipe Hermanny, Luciana Martorano, Ricardo Caiado Lima, Marcella Hill and Jaqueline Suryan (all of São Paulo); and associates Tatiana Pasqualette and Bruno Santoro (both of Rio de Janeiro).

With more than 1,000 corporate lawyers globally, DLA Piper helps clients execute complex cross-border transactions seamlessly while supporting clients across all stages of development. The firm has been rated number one in global M&A volume for 11 consecutive years, according to Mergermarket.

DLA Piper's Energy sector lawyers advise regulators, the regulated, investors and other industry participants on the implications of the regulatory framework during the planning, development and operational stages of many energy assets and transactions. For decades, the firm has represented organizations operating in the sector throughout the world, with a global team serving clients in the power, oil and gas, renewable, nuclear, energy trading, climate change and water markets. In addition to energy companies, the firm’s clients also include project sponsors, corporations, developers, financial institutions, governments, utilities and regulatory bodies.

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