GE transfers 24.99% of its stake in YPF Luz to a JV with Chinese fund
Marval, O'Farrell & Mairal advised General Electric, through its subsidiary EFS Global Energy B.V., in the transfer of its 24.99% stake in YPF Energía Eléctrica S.A. to the BNR Infrastructure Co-Investment joint venture.
After the transaction, which took place on July 23, 2019, General Electric will continue to exercise voting rights at YPF Energia Electrica S.A., also known as YPF Luz.
BNR is a private company incorporated in the United Kingdom, in which GE has a 50% indirect stake and China’s Silk Road Fund has the remaining stake.
YPF Energía Eléctrica S.A. is a renewable energy division of the Argentine state oil company YPF S.A., which specializes in the generation, transport, distribution and commercialization of electric energy, through the construction of new thermal generation plants and renewable energy parks.
Marval, O'Farrell & Mairal advised General Electric in Argentina with partners Santiago Carregal and Diego Chighizola, and associates Karen Maulhardt and Josefina Griot.
Shearman &Sterling LLP advised General Electric in New York and Sao Paulo with partners Robert Freedman and Jonathan E. Kellner, and associates Filipe Lima, Diana Balassiano, Christian Rudloff and David Avila.
Clifford Chance LLP and Estudio Beccar Varela advised BNR Infrastructure Co-Investment Limited.