Latham & Watkins instructed on Latin America´s largest equity offering of 2016

Latham & Watkins advised Infraestructura Energética Nova (IEnova) on its $1.6 billion follow-on equity offering, the largest equity offering in Latin America in 2016 so far.

IEnova is the Mexican subsidiary of Sempra Energy and will use the proceeds to fund the purchase of Pemex´s stake in Gasoductos de Chihuahua and the acquisition of the Ventika wind generation facilities, Mexico’s largest wind farm.

The offering, priced at 80.00 pesos per share or approximately US$4.22 per share, included an international private offering and a concurrent public offering through the Mexican Stock Exchange.

IEnova is a long standing client of the firm, the company retained Latham on its 598 million IPO in 2013, the first public offering in Mexico and listing on the Mexican Stock Exchange by an energy company.

Partners Roderick Branch and Michael Sullivan led the Latham team advising IEnova on both the 2016 follow-on equity offering and 2013 IPO. 

Ignacio Abella