IC Power sells its operations in LatAm and the Caribbean

December 7, 2017, by - LATIN LAWYER

Norton Rose Fulbright in New York has acted as lead counsel for global investment manager I Squared Capital in its US$1.2 billion acquisition of IC Power’s entire Latin American energy portfolio.

In Latin America, I Squared hired Carrillo & Asociados in Guatemala City; Consortium Legal (Nicaragua); Espino Nieto & Asociados in San Salvador; Ferrere (Bolivia); Guerrero Olivos in Santiago; Jimenez Cruz Peña in the Dominican Republic; and Rodrigo, Elías & Medrano Abogados and Santivañez Abogados in Lima. Arias (Panama) is also thought to have advised I Square Capital, but this could not be confirmed prior to publication.

IC Power’s parent company, Kenon Holdings, hired Skadden, Arps, Slate, Meagher & Flom LLP in London and Washington, DC; Carey in Santiago and Miranda & Amado Abogados in Lima. Latin Lawyer was unable to identify further counsel to Kenon. Sullivan & Cromwell LLP in New York advised Bank of America Merrill Lynch, which was Kenon’s financial adviser.

The deal, which was conducted though IC Power’s Peruvian subsidiary, Inkia Energy, was signed on 24 November.

Inkia Energy’s portfolio includes hydroelectric, wind and thermal facilities as well as an electricity distribution company serving 1.7 million people. These assets, which have a combined installed capacity of 3.4 gigawatts, are spread across Bolivia, Chile, the Dominican Republic, El Salvador, Guatemala, Jamaica, Nicaragua, Panama and Peru.

Counsel to I Squared Capital

Norton Rose Fulbright
Partners Marwan Azzi, Charlie Hord and William Cavanagh, counsel Richard Wright and associates Jennifer Huh, David Finkelstein and Patrick Narvaez in New York, and partner Brian Greene in Washington, DC

Carrillo & Asociados

Partner Rodolfo Alegría and associates Melida Pineda, Pamela Arrechea, Axel Beteta and Maria Lourdes Villanueva in Guatemala City

Consortium Legal (Nicaragua)

Partners Rodrigo Taboada, Carlos Taboada, Darliss Gordon and Bertha Xiomara Ortega, and associates Carlos Castrillo, Silvio Arguello, Yahoska Melendez, Maria Lizeth Prado, Queenie Bendaña, Ana Carolina Alvarez and Ulises Tapia in Managua

Espino Nieto & Asociados

Partners Rafael Mendoza and Daniel Olmedo in San Salvador

Ferrere (Bolivia)
Partners Carlos Pinto and Lindsay Sykes, and associates Mattias Garrón, María René Suarez, Delma Paz, Estefanía Paz and Yomara Ardaya in La Paz

Guerrero Olivos
Partner Juan Enrique Allard and associates Benjamín Pérez, Miguel Coddou, Jaime Barahona and Macarena Toro Aguirre in Santiago

Jiménez Cruz Peña

Partners Katherine Rosa and Marcos Peña, and associates Jennifer Beauchamps, Gisselle Valera and Ricardo Gonzalez in Santo Domingo

Rodrigo, Elías & Medrano Abogados
Partners Luis Enrique Palacios, Jorge Trelles and Jose Talledo and associates Nicolas Cornejo, Mariana Delgado, Jose Diego Ruiz Huidobro, Soleil Castro, Mariana Gonzalez-Prada, Sergio Silva, Alejandro Araujo and Diego Price in Lima

Santivañez Abogados

Partners Roberto Santivañez, Karim Kahatt, Paul Sumar, and Maria Teresa Capella, and associates Abel Venero, Jose La Torre, Noelia Carreras, Percy Samaniego, Cecilia Azerrad, Cesar Delgado, Guissella Guerrero, Ruben Lopez, Boris Pacheco, and Karen Flores in Lima

Counsel to Kenon Holdings

Skadden, Arps, Slate, Meagher & Flom LLP

Partners Scott Simpson and James McDonald in London and Pankaj Sinha in Washington, DC

Partner Pablo Iacobelli, counsel Patricia Silberman and associates Josefina Marshall and Carolina Said in Santiago

Miranda & Amado Abogados
Partner Luis Marcelo De-Bernardis and associates Armando Corrales, Anahí Pazos Aramburú and José Miguel Mazuré in Lima

Counsel to Bank of America Merrill Lynch

Sullivan & Cromwell LLP

Partner Stephen Kotran and associates Kathy Wang and So Yeon Kim in New York

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