Milbank LLP advised Prime Infrastructure Capital, Inc. ("Prime Infra") on its acquisition of SierraCol Energy Limited ("SierraCol Energy"), an independent oil and gas company in Colombia, from The Carlyle Group.
Prime Infra is a leading infrastructure developer and operator focused on building and operating assets that support critical infrastructure priorities, including dependable energy supply, access to clean water and modern waste management. SierraCol Energy is a full-cycle oil and gas exploration and production company headquartered in Bogotá, Colombia, with operations in conventional onshore oil assets in the Llanos, Middle Magdalena and Putumayo basins.
Milbank previously advised Prime Infra on its acquisition of a 60% stake in the gas power plant assets and LNG terminal of First Gen Corporation, further expanding Prime Infra's diverse asset portfolio critical to the Philippines' energy security.
"Prime Infra has once again demonstrated its ability to identify and execute on high-quality, strategic opportunities in essential energy assets,” said James Grandolfo, Milbank’s Hong Kong office managing partner. “This acquisition marks an important milestone in Prime Infra’s global expansion and reflects the strength of its platform, capital base, and highly skilled management team. We are honored to serve as trusted counsel to Prime Infra.”
"Combined with their ongoing development of large-scale renewable energy projects – including the 600 MW Wawa and 1,400 MW Ahunan pumped storage hydroelectric power projects – Prime Infra is positioning itself to support both immediate energy needs and long-term transition goals across the regions it serves,” added Andrew Whan, Milbank Global Corporate partner.
The Hong Kong-based Milbank team was led by partners James Grandolfo and Andrew Whan, with senior associate Cesareo Singzon and associate Brian Ho.
Additional support was provided by Hong Kong-based Leveraged Finance partner John Bona and Hong Kong associates York Wu, Flora Wang, Julo Lim and David Zhu; New York-based Corporate partners Francisco Nunez and Ross Shepard and associates Francisco Troconis and Jacklyn Weon; Tax partner Edward Lemanowicz and associate Michelle Song; Executive Compensation and Employee Benefits partner Mike Shah and special counsel Jameson Frazier; and London-based Tax partner Alan Rafferty and special counsel Shaul Steinberg, and Corporate partner Andrew Nuthall with associates Michael Brown and Mhairi Sinclair.
