Thursday, 03 October 2019 15:45

Baker McKenzie advises CYPC on $3.6bn purchase of Sempra Energy's Peru business

Baker McKenzie has advised China Yangtze Power Company (CYPC) on its $3.59 billion purchase of Sempra Energy's Peruvian businesses, including its 83.6 per cent stake in Luz del Sur.

CYPCIn terms of contract value, this deal is the largest overseas M&A transaction by a Chinese company so far this year, and the sale is expected to be completed in the first quarter of 2020, the law firm said.
 
Luz del Sur is a utility company serving the southern region of Lima, and is [the largest listed power company in the country. 

This acquisition represents CYPC’s first purchase of power distribution assets from a mature market overseas and is an important step for the company’s high quality and sustainable development. Sempra Energy is a US-based energy and pipeline company.
 
CYPC is the largest hydropower company in the world and is headquartered in Beijing.  
 
Partner Lewis Popoff in Chicago and counsel Federico Cuadra Del Carmen in Miami led the Baker McKenzie team advising CYPC. In addition, partner Chai Jie and associate Grace Ma of the Tiayn Yuan law firm served as China Counsel to CYPC, and partner Andres Kuan-Veng of Muñiz was Peru counsel. 

Citi served as financial advisor to CYPC on the deal.

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Iberian Lawyer
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The Latin American Lawyer
N.9 • September 16, 2019

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