Carmen Corporation’s acquisition of an additional 8,07% Interest in Transportadora de Gas del Perú S.A.


Payet, Rey, Cauvi, Pérez, Sullivan & Cromwell, Chadbourne & Parke, Stikeman Elliott and Torys have advised on the transaction

Carmen Corporation – subsidiary of Canada Pension Plan Investment Board – has acquired an additiona 8.7% Interest in Transportadora de Gas del Perú S.A. from International Power, S.A.

Canada Pension Plan Investment Board (CPPIB) is a professional investment management organization that invests the funds not needed by the Canada Pension Plan (CPP) to pay current benefits on behalf of 18 million Canadian contributors and beneficiaries. In order to build a diversified portfolio of CPP assets, CPPIB invests in public equities, private equities, real estate, infrastructure and fixed income instruments. Headquartered in Toronto, with offices in London, Hong Kong, New York City and São Paulo, CPPIB is governed and managed independently of the Canada Pension Plan and at arm’s length from governments. At December 31, 2013, the CPP Fund totalled C$201.5 billion.

TgP is the largest transporter of natural gas and natural gas liquids in Peru. In 2012, TgP delivered approximately 95% of both the country’s total volume of natural gas and natural gas liquids extracted from Blocks 88 and 56 of the Camisea gas fields located in the Peruvian Amazon. TgP’s customers include the largest power generators, natural gas distributors and industrial companies in Peru. In addition, one of its customers, Peru LNG, is the largest gas exporter in Peru and one of the largest gas exporters in Latin America.

In Perù, Payet, Rey, Cauvi, Pérez has advised Canada Pension Plan Investment Board with a team including Susan Castillo Loo, Iván Chu Del Águila, Andrea Tejeda Benza and Carla Sinchi Tuesta.

In NY, Sullivan & Cromwell has advised Canada Pension Plan Investment Board with Werner Ahlers (Picture), Christopher Mann, David Spitzer, Miguel Oría, Kyra Ayo Caros, Benjamin Kent, Katherine Zhang and Max O’Neill.

Chadbourne & Parke LLP has advised International Power S.A. with Daniel Spencer, Patrick Dorime and Jaime Huertas.

In Vancouver, Stikeman Elliott LLP has advised International Power S.A. with Rachel Hutton, John Anderson and Denise Duifhuis.

In Toronto, Torys has advised International Power S.A. with Jamie Becker and Michele Cousens.

Involved fees earner: Susan Castillo – Payet, Rey, Cauvi, Pérez, Mur; Carla Sinchi – Payet, Rey, Cauvi, Pérez, Mur; Iván Chu – Payet, Rey, Cauvi, Pérez, Mur; Tejeda Benza – Payet, Rey, Cauvi, Pérez, Mur; Jamie Becker – Torys LLP; Michele Cousens – Torys LLP; Rachel Hutton – Stikeman Elliott; John Anderson – Stikeman Elliott; Denise Duifhuis – Stikeman Elliott; Daniel Spencer – Chadbourne; Patrick Dorime – Chadbourne; Jaime Huertas – Chadbourne; Werner Ahlers – Sullivan & Cromwell; Kyra Ayo Caros – Sullivan & Cromwell; Benjamin Kent – Sullivan & Cromwell; Christopher Mann – Sullivan & Cromwell; David Spitzer – Sullivan & Cromwell; Max O’Neill – Sullivan & Cromwell; Miguel Oría – Sullivan & Cromwell;

Law Firms: Payet, Rey, Cauvi, Pérez, Mur; Torys LLP; Stikeman Elliott; Chadbourne; Sullivan & Cromwell;

Clients: Canada Pension Plan Investment Board; International Power S.A.;

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Author: Ambrogio Visconti.