Milbank LLP advised Singapore-based AGP International Holdings Pte. Ltd. (“AG&P”) on its sale of a 20% minority stake to Osaka Gas Co. Ltd. (“Osaka Gas”) and Japan Bank for International Cooperation (“JBIC”).
The equity investment is valued at US$100 million.
AG&P is a leading provider of gas logistics for commercial and individual end users as well as engineering and construction services for highly complex gas projects, including LNG liquefaction, refineries, petrochemical facilities and utilities.
It is anticipated that AG&P will use the funds to develop several global liquefied natural gas (“LNG”) initiatives, including small- and medium-scale LNG import terminals and AG&P’s City Gas Distribution business in India. The investment is also expected to further AG&P’s longstanding partnership with Osaka Gas on the development of LNG infrastructure projects throughout the Americas and southern Asia.
The Milbank team was led by Global Capital Markets partner David Kuo (Picture) and counsel Paul Pery, with associate Ari Singzon.
Law Firms: Milbank;
Clients: AGP International Holdings;