Duke Energy announced the sale of its assets in Latin America and instructed Skadden for the deals. Chadbourne in NY and Rodrigo, Elias & Medrano in Peru advised the buyer I Square Capital.
Duke Energy is an electric power holding company headquartered in Charlotte, North Carolina, with assets in the United States, Canada and Latin America.
I Squared Capital is an independent global infrastructure investment manager focusing on energy, utilities, and transport in the Americas, Europe, and select high growth economies.
The transaction, valued at $1.2 billion, covers 100% of the assets of Duke Energy in Peru, Chile, Ecuador, Guatemala, El Salvador and Argentina and includes hydro and thermal generation plants, transmission lines and natural gas processing facilities.
The deal will trigger a change of control in Duke’s subsidiaries in Latin America and is part of the company’s asset divestiture program which also includes the $1.2 billion sale of its holdings in Brazil to China Three Gorges Corporation.
Duke Energy instructed Skadden, Arps, Slate, Meagher & Flom in New York for both transactions.
I Squared Capital retained Chadbourne & Parke in NY; Rodrigo, Elias & Medrano in Peru; Estudio O’Farrell in Argentina; Bambach y Campos Abogados and Vial & Fernández Abogados in Chile; Pérez, Bustamente & Ponce in Ecuador; Carrillo & Asociados in Guatemala and Espino Nieto & Asociados in El Salvador.
The company also instructed Sativañez Abogados as additional Peruvian counsel for regulatory and oil and gas matters.
Partners Luis Enrique Palacios, José Talledo and Jorge Trelles led the team at Rodrigo, Elias & Medrano.