Cuatrecasas & BM advise on Enagás and Elecnor’s €154m sale to Macquarie

Baker McKenzie has advised Enagás and Elecnor on its €154 million Mexican gas pipeline sale. Cuatrecasas advised the buyer Macquarie

Enagás and Elecnor have signed an agreement to sell jointly and in equal parts the Mexican companies Gasoducto de Morelos and Morelos O&M, to Macquarie for a total amount of €154.2 million, as reported in separate notices sent to the National Securities Market Commission (CNMV).

The purchase of the Mexican companies was made by MIP V International, a wholly owned subsidiary of the Macquarie Infraestructure Partners fund, managed by Macquarie. The firms advising on the operation were Baker McKenzie, Cuatrecasas, Vision & Elkins and Gómez Calvillo.

Phase I of the project has a length of 123 kilometers, begins with the interconnection of the CFE CCC in Cuautla Morelos (Morelos) and ends in Huejotzingo (Puebla). Phase II has a length of 48 kilometers and goes from an interconnection located in Huejotzingo to Tlaxcala to interconnect with the Zempoala (Santa Ana) gas pipeline.

For its part, Enagás has indicated that the operation is part of the asset rotation process announced by the company in its Strategic plan.

The team from Cuatrecasas advising the buyer Macquarie on the deal were Santiago Ferrer (pictured top left), partner of the Mercantile team, León López Iglesias (pictured top middle), partner of the Finance team, Marco Antonio de la Peña (pictured top right), partner of the Energy team, Carolina Pérez Rendón, associate of the Finance team, Rafael Rodríguez Curiel associate of the Energy team and Fernando Ruiz Barrenechea, associate of the Mercantile team.

The team from Baker McKenzie advising on the transaction was led by Antonio Morales (pictured bottom left), partner, Jose Morán (pictured bottom middle) partner, Juanjo Corral (pictured bottom right), partner and Carlos Suárez, associate.