Global power generation firm InterGen has announced that it has entered into an agreement with investment firm Actis to sell its business interests in Mexico for an enterprise value of US$1.256 billion. Milbank advised Actis in the transaction which is expected to close in the second quarter of 2018.
InterGen’s Mexico portfolio includes 2,200 megawatts in operation with six combined-cycle gas turbine projects and a 155 megawatt wind project with partner IEnova. InterGen also owns and operates three gas compression stations and one 65-km gas pipeline in Mexico.
The Milbank team was led by Corporate partner John Franchini and Project, Energy and Infrastructure Finance partners Dan Bartfeld and Roland Estevez with Corporate associates Aaron Stine and Renee Stern and Project, Energy and Infrastructure Finance senior associate Oliver Irwin and associate Javad Asghari.