Marubeni Buys into Peru Water Company

Japan’s Marubeni says it has acquired a 29% stake in Peruvian water utility Consorcio Agua Azul from local private equity shop AC Capitales, which is exiting the utility. Terms were not disclosed and the sellers were not available for comment, as Monday was a public holiday in Peru. However, Marubeni says the acquisition makes it the largest shareholder in the utility. AC acquired the stake in late 2006 for $8.4m from Italian companies Impregilo and Acea, according to Peru-based law firm Payet, Rey, Cauvi, which acted as legal counsel on the acquisition in December 2006. Rodrigo, Elias, Medrano, also based in Peru, had originally advised Impregilo and Acea on the sale of the stake to AC Capitales, and acted as the seller’s legal advisor on the sale of the stake to Marubeni, a source close to the shop tells LatinFinance.