MEXICO CITY – Feb. 28, 2024 – Greenberg Traurig’s Latin America Practice and Project & Infrastructure Finance team in Mexico City represented Mexico Infrastructure Partners (MIP), the leading manager of investment funds in the infrastructure and energy sectors in Latin America, in the financed acquisition of a portfolio comprising 12 combined cycle power plants and a wind farm with a capacity of 8,539 megawatts, owned by Iberdrola, a leading Spanish energy group, for US$6.2 billion.
This transaction is crucial for the development of Mexico’s current federal energy policy and is the largest and most complex transaction in the history of the country’s energy sector since its privatization.
Greenberg Traurig’s team served as lead international and Mexican legal counsel to MIP and the trust through which the acquisition was consummated, advising on the entire acquisition process, including obtaining regulatory and antitrust approvals; entering into ancillary agreements, including power purchase agreements, and transition services agreement, among others; and acting as special legal counsel to MIP in the acquisition financing process granted by Mexican development banks and several commercial banks.
The Greenberg Traurig team was led on the New York and Mexican law aspects of the acquisition by José Antonio Butrón, shareholder of the Latin America Practice and head of the Mexico City Project & Infrastructure Finance Practice, supported by Project & Infrastructure Finance Practice Shareholder Gabriela Palomino and Associate Luis Torres. Other key attorneys on the team included Antitrust Litigation & Competition Regulation Shareholder Miguel Flores and Energy, Environmental, and Regulatory & Compliance Shareholder Erick Hernández, as well as Associate Luis Akle together with Law Clerks from the Mexico City office Natalia Mejía, Diana Cortés, Francisco de Rosenzweig and Paula de Uriarte.