Chadbourne & Parke LLP advised I Squared Capital on the purchase of Duke Energy’s Latin American businesses in Peru, Chile, Ecuador, Guatemala, El Salvador and Argentina for a US$1.2 billion enterprise value.
The businesses that I Squared Capital’s ISQ Global Infrastructure Fund will acquire include hydroelectric and natural gas generation plants, transmission infrastructure and natural gas processing facilities. With over 2,300 MW of hydroelectric and thermal generation, 730 km of 220kV transmission lines and natural gas processing facilities, the businesses represent one of the largest privately owned electricity generation portfolios in Latin America.
I Squared Capital is an independent global infrastructure investment manager focusing on energy, utilities, and transport. The purchase represents a part of the company’s strategy to expand its global portfolio of clean power generation across the Americas, Europe and Asia.
The transaction is subject to customary closing conditions and approvals and is expected to close in the coming months.
The Chadbourne team was led by international partner Marwan Azzi, with assistance from M&A partners Charlie Hord and Kevin Smith, finance partner Noam Ayali, project finance partner Raquel Bierzwinsky and tax partner Erez Tucner. Further assistance was provided by partners Claude Serfilippi and Marjorie Glover; counsels Noah Pollak, Christy Rivera and Sue Cowell; and associates Michael Masri, J. Patrick Narvaez, Richard Wright, Ross Shepard, Jose Avila, Carson Sieving, Matthew Harris, Deanne Barrow and Amanda Sewell. The team also included partner Charez Golvala from Chadbourne’s London office, international partner Mario Piana and senior associate Javier Félix Muñoz from Chadbourne’s Mexico City office.
About Chadbourne & Parke
For more than a century, Chadbourne & Parke has counseled innovators around the world. We are a full-service law firm that leverages the extraordinary talent from our global network to offer the highest caliber client service in more than 80 countries on six continents. Today, we are recognized internationally for our groundbreaking work in emerging economies and our deep experience in energy and infrastructure, corporate and finance transactions, international disputes, and bankruptcy and financial restructuring.