EY advised I Squared Capital on the Peruvian aspects of its acquisition of the Latin American assets of Kenon. Consortium Legal acted for I Squared in Nicaragua. Kenon instructed Skadden on the global deal.
I Squared Capital is an independent global infrastructure investment manager focusing on energy, utilities, and transport in the Americas, Europe, and other high growth economies. Kenon Holdings is a Singapore-headquartered holding company with Israeli roots and business interests in the energy and automotive industry. Its subsidiary, IC Power operates energy assets in Bolivia, Chile, República Dominicana, El Salvador, Guatemala, Jamaica, Nicaragua, Panamá and Perú through its Inkia Energy division.
The deal, valued at $1,2 billion, gives I Squared control of Inkia operations in Latin America and the Caribbean. The buyer will also assume Inkia’s $450 million of bonds, which were issued in November 2017.
This is I Squared´s second blockbuster energy deal in Latin America in little over a year, it acquired the Latin American assets of Duke Energy in October 2016.
The transaction spanned 9 countries. Fernando Tori and Edwin Sarmiento led the team at EY Peru which acted for I Squared in structuring the Peruvian assets for the deal.
Rodrigo, Elías & Medrano provided corporate counsel under Peruvian law to I Squared, with a team fronted by partners Luis Enrique Palacios, Jorge Trelles and Jose Talledo. The buyers also instructed Santivañez Abogados in Peru.
In Nicaragua, I Squared instructed a team at Consortium Legal led by partner Rodrigo Taboada.
Elsewhere, the buyers instructed Norton Rose Fulbright as global counsel; Carrillo & Asociados in Guatemala; Espino Nieto & Asociados in El Salvador; Ferrere in Bolivia; Guerrero Olivos in Chile and Jiménez Cruz Peña in the Dominican Republic.
Skadden, Arps, Slate, Meagher & Flom advised Kenon on the global deal. In Chile, the company retained a team at Carey led by partner Pablo Iacobelli while in Peru, Miranda & Amado Abogados acted as local counsel.
Note: this has been updated to include other law firms which acted as local and global counsel.
Partner Pablo Iacobelli, counsel Patricia Silberman and associates Josefina Marshall and Carolina Said in Santiago
Miranda & Amado Abogados
Partner Luis Marcelo De-Bernardis and associates Armando Corrales, Anahí Pazos Aramburú and José Miguel Mazuré in Lima