Actis Capital’s $1.3 Million Acquisition of InterGen NV – Mexico Portfolio


Milbank, Galicia Abogados and Shearman & Sterling advised on the deal

Cometa Energía, S.A. de C.V., a special purposes veicle of Actis, finalized the acquisition of InterGen N.V. Mexican assets.

Actis Capital is a private equity firm focused on investments in emerging markets. Actis segments its investment activity into three areas. These include private equity, energy, and real estate. The Firm is based in London.

InterGen NV is a global power generation platform in Europe, Australasia and Mexico with 12 power plants representing an equity share of 6,252 MW of production capacity.

Milbank advised Actis with John Franchini (Picture), Daniel Bartfeld, Roland Estevez, Carlos Albarracín, Aaron Stine, Javad Ashgari, Oliver Irwin, Benjamin Pridgeon, Daniel Ríos, Kelsey Craig, Andrés Osornio and Ben García.

In Mexico, Galicia Abogados advised Actis with Francisco Fernández Cueto, José Visoso, Ricardo García, Maurice Berkman, Christian Lippert, Carlos Chávez A., Mariana Herrero, Jessica Hurtado, Javier Arreola, Pablo Preciado, Ernesto Partida, Ana Pérez Borja, Guillermo Parra, Cecilia Díaz de Rivera, Erick Santín, Phillip Ersfeld, Mónica Ricardo Pedroza, Juan Carlos Burgos, Maite Celorio, Adriana Peralta, Carlos Escoto, Erika Alarcón, Sebastián Morales, Paulina Pérez, José Alejandro Cortés, Sofía Montes de Oca, Mónica Sánchez and Nicole Galante.

Skadden advised InterGen with Lance Brasher, Ethan Schultz, Linda Davies, Peter Huang, Stacy Kanter, Sean Shimamoto, Steven Messina, J. Alexander Cooke, Mark Schlackman, Leah Chacon, Tereza Widmar and Corinne Noel.

In Mexico, Creel, García-Cuéllar, Aiza y Enríquez advised InterGen with Santiago Sepúlveda Mauricio Serralde, Aleine Obregón and Mónica Cabeza de Vaca.

Actis secured financing for the acquisition through a Rule 144A/Regulation S offering of $860 million 6.375% senior secured notes due 2035 issued by, and senior secured credit facilities made available to, Cometa Energía, S.A. de C.V.

Shearman & Sterling advised BNP Paribas, Citigroup, J.P. Morgan, Scotiabank and SMBC Nikko, as Joint Lead Arrangers and Joint Bookrunners on the offering with a team including Gregory Tan, Grissel Mercado, Stuart K. Fleischmann, Donna J. Bobbish, Jeffrey Tate, Robert E. O’Leary, Andry Zinsou, Simon Barrell, Erica Kassman, Maria Marulanda Larsen, Rita Ghanem, Marika Mikuriya and Michael J. Daly.

In Mexico, González Calvillo Abogados S.C. advised the underwriters with Jorge Cervantes, Rodrigo Rojas Robleda, Jaime Cortés Alvarez, Diego Hernández Schmidt-Tophoff, Thomas E. Heather, Cecilia Sarabia, Víctor Nakakawa, Francisco Javier Álvarez, Pedro Lladó and Paulina de Rosenzweig.

Involved fees earner: Jorge Cervantes – Gonzalez Calvillo Abogados; Rodrigo Rojas – Gonzalez Calvillo Abogados; Thomas Heather Fletcher – Gonzalez Calvillo Abogados; Cecilia Sarabia De León – Gonzalez Calvillo Abogados; Jaime Cortés Alvarez – Gonzalez Calvillo Abogados; Diego Hernández Schmidt-Tophoff – Gonzalez Calvillo Abogados; Francisco Javier Alvarez Campos – Gonzalez Calvillo Abogados; Victor José Nakakawa Trejo – Gonzalez Calvillo Abogados; Pedro Lladó Camarillo – Gonzalez Calvillo Abogados; Paulina Poo Romano – Gonzalez Calvillo Abogados; Santiago Sepúlveda – Creel, García-Cuéllar, Aiza y Enriquez SC; Aleine Obregón Natera – Creel, García-Cuéllar, Aiza y Enriquez SC; Mónica Cabeza de Vaca – Creel, García-Cuéllar, Aiza y Enriquez SC; Mauricio Serralde – Creel, García-Cuéllar, Aiza y Enriquez SC; Francisco Fernández Cueto – Galicia Abogados, S.C; Carlos Chávez – Galicia Abogados, S.C; Jessica Hurtado – Galicia Abogados, S.C; Jose Visoso – Galicia Abogados, S.C; Christian Lippert H. – Galicia Abogados, S.C; Pablo Preciado P. – Galicia Abogados, S.C; Ricardo García Giorgana – Galicia Abogados, S.C; Maurice Berkman – Galicia Abogados, S.C; Mariana Herrero S. – Galicia Abogados, S.C; John Franchini – Milbank; Daniel Bartfeld – Milbank; Aaron Stine – Milbank; Roland Estevez – Milbank; Oliver Irwin – Milbank; Ben Pridgeon – Milbank; Carlos Albarracín – Milbank; Kelsey Craig – Milbank; Andres Osornio Ocaranza – Milbank; Ben Garcia – Milbank; Lance Brasher – Skadden Arps Slate Meager & Flom; Ethan Schultz – Skadden Arps Slate Meager & Flom; Linda Davies – Skadden Arps Slate Meager & Flom; Peter Huang – Skadden Arps Slate Meager & Flom; Corinne Noel – Skadden Arps Slate Meager & Flom; Stacy Kanter – Skadden Arps Slate Meager & Flom; Alexander Cooke – Skadden Arps Slate Meager & Flom; Mark Schlackman – Skadden Arps Slate Meager & Flom; Leah Chacon – Skadden Arps Slate Meager & Flom; Tereza Widmar – Skadden Arps Slate Meager & Flom; Sean Shimamoto – Skadden Arps Slate Meager & Flom; Steven Messina – Skadden Arps Slate Meager & Flom; Gregory Tan – Shearman & Sterling; Donna Bobbish – Shearman & Sterling; Robert O’Leary – Shearman & Sterling; Andry Zinsou – Shearman & Sterling; Simon Barrell – Shearman & Sterling; Grissel Mercado – Shearman & Sterling; Stuart Fleischmann – Shearman & Sterling; Erica Kassman – Shearman & Sterling; Maria Marulanda Larsen – Shearman & Sterling; Rita Ghanem – Shearman & Sterling; Marika Mikuriya – Shearman & Sterling; Jeffrey Tate – Shearman & Sterling; Michael Daly – Shearman & Sterling;

Law Firms: Gonzalez Calvillo Abogados; Creel, García-Cuéllar, Aiza y Enriquez SC; Galicia Abogados, S.C; Milbank; Skadden Arps Slate Meager & Flom; Shearman & Sterling;

Clients: BNP Paribas; Citigroup Inc.; JP Morgan; Scotiabank; Smbc Nikko Capital Markets Limited; Actis Capital LLP; InterGen;

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Author: Ambrogio Visconti