Panama, June 26, 2020. Morgan & Morgan Legal represented Seven Seas Water Corporation (“Seven Seas”) in a US$163,000,000.00 financing with Deutsche Bank AG and Comvest Credit Partners, as lenders, and subsequent acquisition, through affiliate AquaVenture Capital Limited, Sembcorp Investments Limited, which wholly owns Aguas de Panamá, S.A. (“APSA”). Seven Seas is a portfolio of desalination and water supply projects in Latin America and the Caribbean, managed by Morgan Stanley Infrastructure Partners. APSA is a company that holds a 30-year concession for the design, construction, operation and maintenance of a potable water plant located at Laguna Alta in Arraiján, Panama. Consideration for the sale was over US$ 47,000,000.00.
Partner Ramón Varela, Senior Associate Ana Carolina Castillo and International Associate Miguel Arias M. advised Seven Seas in the transaction.