ContourGlobal’s $774 Millioon Acquisition of Combined Heat and Power Portfolio in Mexico from Alpek


Galicia and Mijares, Angoitia, Cortés y Fuentes advised on the deal

ContourGlobal plc has reached agreement with Alpek S.A.B. de C.V, (BMV:ALPEKA) to acquire Alpek’s portfolio of two natural gas-fired combined heat and power plants, together with development rights and permits for a third plant, for $724 million in cash. An additional payment at closing estimated at $77 million represents the Value Added Tax (VAT) assessed for the transaction and is expected to be refunded in full within 12 months of closing. The two CHP plants will provide electricity and steam under long-term contracts to subsidiaries of Alfa S.A.B. de C.V (BMV: ALFAA), a leading Mexican industrial conglomerate, and other commercial and industrial customers.

The CHP plants are located on sites adjacent to, and interconnected with, Alpek’s industrial facilities and have a gross installed capacity of 518MW. Additionally, ContourGlobal will be acquiring the development rights and permits for a third adjacent plant with a planned capacity of 414MW.

Galicia Abogados, S.C. advised ContourGlobal PLC with Héctor Kuri Q. (Picture), Carlos De María, Mariana Herrero Saldivia, Guillermo Pérez Santiago, Nadia González, Ernesto Partida F., José Alejandro Cortés Serrano, Jessica Hurtado, Lucía Manzo F., Diana González, Héctor Salazar and Mariana Islas.

Mijares, Angoitia, Cortés y Fuentes advised Alpek S.A.B. de C.V with Ricardo Maldonado Yáñez, Patrick Meshoulam, Carlos Orcí Berea, Jaime Ostos Rincón Gallardo, Paula Pérez Benítez, Federico del Río and Fernando Ruíz.

Involved fees earner: José Alejandro Cortés Serrano – Galicia Abogados, S.C; Carlos De Maria y Campos – Galicia Abogados, S.C; Nadia González Elizondo – Galicia Abogados, S.C; Mariana Herrero S. – Galicia Abogados, S.C; Jessica Hurtado – Galicia Abogados, S.C; Héctor Kuri – Galicia Abogados, S.C; Lucía Manzo F. – Galicia Abogados, S.C; Ernesto Partida F. – Galicia Abogados, S.C; Guillermo Pérez Santiago – Galicia Abogados, S.C; Federico Andrés del Río Abundis – Mijares, Angoitia, Cortés y Fuentes, S.C.; Ricardo Maldonado-Yáñez – Mijares, Angoitia, Cortés y Fuentes, S.C.; Patrick Meshoulam Águila – Mijares, Angoitia, Cortés y Fuentes, S.C.; Carlos Orcí Berea – Mijares, Angoitia, Cortés y Fuentes, S.C.; Jaime Ostos Rincón Gallardo – Mijares, Angoitia, Cortés y Fuentes, S.C.; Paula Pérez Benítez – Mijares, Angoitia, Cortés y Fuentes, S.C.; Fernando Ruíz Berrenechea – Mijares, Angoitia, Cortés y Fuentes, S.C.;

Law Firms: Galicia Abogados, S.C; Mijares, Angoitia, Cortés y Fuentes, S.C.;

Clients: Alpek SAB de C.V.; ContourGlobal;

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Author: Ambrogio Visconti.