August 25, 2021
Global Infrastructure Partners (GIP), a leading global infrastructure private equity manager, and Actis, a leading global investor in sustainable infrastructure, have jointly announced that Actis has sold 100% of Saavi Energía (Saavi), the fourth largest independent power producer and the largest privately held stand-alone power generator in Mexico, to GIP. Terms of the transaction were not released.
GIP’s acquisition of Saavi follows its investment in the Company’s US$325 million Secured Term Loan in 2020, which was refinanced as part of this transaction, and marks GIP’s first direct equity investment in Mexico. GIP focuses on managing infrastructure investments in its core sectors. The significant need for infrastructure provision in developing markets presents opportunities for GIP to further extend its operating expertise, sector knowledge and ESG focus across these emerging global economies.
Latham & Watkins LLP advised GIP in the transaction with a deal team led on corporate matters by New York M&A partner and Latin America Practice Global Chair Tony Del Pino and Washington, D.C. counsel Aaron Hullman and on finance matters by Washington, D.C. project finance partner David Penna, New York associate Costanza Garcia and international visiting associate Andres Fonseca. Advice was also provided on energy regulatory matters by Washington, D.C. partner Tyler Brown, with associate Richard Griffin; on tax matters by London partner Sean Finn; on employment and benefits matters by Washington, D.C. partner Adam Kestenbaum and counsel Laura Szarmach; on insurance matters by Los Angeles partner Drew Levin, with associate Hannah Cary; on Bureau of Land Management license matters by Washington, D.C. partner Janice Schneider; on CFIUS matters by Washington, D.C. partner James Barker; on real estate matters by San Diego partner Robert Frances; and on environmental matters by Orange County partner Chris Norton.