Baker McKenzie, White & Case Handle $3.6B Chinese Outbound Energy Deal
The transaction is the largest Chinese outbound deal so far this year.
October 09, 2019 at 10:55 AM
2 minute read
Baker McKenzie and White & Case have the lead roles on a $3.59 billion offer that will see a Chinese power producer bid to acquire U.S.-based Sempra Energy's Peruvian business, in the largest Chinese outbound deal announced so far this year.
Beijing-based China Yangtze Power Co., a subsidiary of state-owned energy company China Three Gorges Corp., is acquiring from Sempra an 83.6% stake in Luz del Sur S.A.A., the largest listed power company on the Lima Stock Exchange, for $3.59 billion in cash.
The transaction is expected to be completed in the first quarter of 2020, subject to approval by the Peruvian antitrust authority and Bermuda's financial services regulator. This deal is the largest outbound M&A transaction by a Chinese company so far in 2019, according to Shanghai-listed Yangtze Power, one of the largest hydropower companies in the world.
Baker McKenzie Chicago partners Lewis Popoff, Hugo Dubovoy and José Morán are advising Yangtze Power. Tian Yuan Law Firm Beijing partners Chai Jie, Wang Lihua and Yin Xiong are advising on Chinese law and Peru-based Muñiz, Olaya, Meléndez, Castro, Ono & Herrera partner Andres Kuan-Veng is serving as Peruvian counsel.
White & Case New York partners Thomas Lauria and Marwan Azzi are leading a team advising Sempra. They are supported by partners Gregory Pryor, Michael Deyong, David Dreier, Henrik Patel, Arlene Arin Hahn, Damien Nyer and Seth Kerschner in New York; Vivian Tsoi in Shanghai; and Grace Fan-Delatour in Beijing.
|Related stories:
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
NOT FOR REPRINT
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
You Might Like
View All
New Frontiers: Gaillard Banifatemi Shelbaya Launches in Cairo and Abu Dhabi
4 minute read
Travers Gives Holiday Bonus, Ropes & Gray Reduces Time Off Allowance
1 minute read
Japan’s Mori Hamada Joins Funder LCM for $150M Credit Suisse Bonds Claim
Trending Stories
- 1Gibson Dunn Sued By Crypto Client After Lateral Hire Causes Conflict of Interest
- 2Trump's Solicitor General Expected to 'Flip' Prelogar's Positions at Supreme Court
- 3Pharmacy Lawyers See Promise in NY Regulator's Curbs on PBM Industry
- 4Outgoing USPTO Director Kathi Vidal: ‘We All Want the Country to Be in a Better Place’
- 5Supreme Court Will Review Constitutionality Of FCC's Universal Service Fund
Who Got The Work
Michael G. Bongiorno, Andrew Scott Dulberg and Elizabeth E. Driscoll from Wilmer Cutler Pickering Hale and Dorr have stepped in to represent Symbotic Inc., an A.I.-enabled technology platform that focuses on increasing supply chain efficiency, and other defendants in a pending shareholder derivative lawsuit. The case, filed Oct. 2 in Massachusetts District Court by the Brown Law Firm on behalf of Stephen Austen, accuses certain officers and directors of misleading investors in regard to Symbotic's potential for margin growth by failing to disclose that the company was not equipped to timely deploy its systems or manage expenses through project delays. The case, assigned to U.S. District Judge Nathaniel M. Gorton, is 1:24-cv-12522, Austen v. Cohen et al.
Who Got The Work
Edmund Polubinski and Marie Killmond of Davis Polk & Wardwell have entered appearances for data platform software development company MongoDB and other defendants in a pending shareholder derivative lawsuit. The action, filed Oct. 7 in New York Southern District Court by the Brown Law Firm, accuses the company's directors and/or officers of falsely expressing confidence in the company’s restructuring of its sales incentive plan and downplaying the severity of decreases in its upfront commitments. The case is 1:24-cv-07594, Roy v. Ittycheria et al.
Who Got The Work
Amy O. Bruchs and Kurt F. Ellison of Michael Best & Friedrich have entered appearances for Epic Systems Corp. in a pending employment discrimination lawsuit. The suit was filed Sept. 7 in Wisconsin Western District Court by Levine Eisberner LLC and Siri & Glimstad on behalf of a project manager who claims that he was wrongfully terminated after applying for a religious exemption to the defendant's COVID-19 vaccine mandate. The case, assigned to U.S. Magistrate Judge Anita Marie Boor, is 3:24-cv-00630, Secker, Nathan v. Epic Systems Corporation.
Who Got The Work
David X. Sullivan, Thomas J. Finn and Gregory A. Hall from McCarter & English have entered appearances for Sunrun Installation Services in a pending civil rights lawsuit. The complaint was filed Sept. 4 in Connecticut District Court by attorney Robert M. Berke on behalf of former employee George Edward Steins, who was arrested and charged with employing an unregistered home improvement salesperson. The complaint alleges that had Sunrun informed the Connecticut Department of Consumer Protection that the plaintiff's employment had ended in 2017 and that he no longer held Sunrun's home improvement contractor license, he would not have been hit with charges, which were dismissed in May 2024. The case, assigned to U.S. District Judge Jeffrey A. Meyer, is 3:24-cv-01423, Steins v. Sunrun, Inc. et al.
Who Got The Work
Greenberg Traurig shareholder Joshua L. Raskin has entered an appearance for boohoo.com UK Ltd. in a pending patent infringement lawsuit. The suit, filed Sept. 3 in Texas Eastern District Court by Rozier Hardt McDonough on behalf of Alto Dynamics, asserts five patents related to an online shopping platform. The case, assigned to U.S. District Judge Rodney Gilstrap, is 2:24-cv-00719, Alto Dynamics, LLC v. boohoo.com UK Limited.
Featured Firms
Law Offices of Gary Martin Hays & Associates, P.C.
(470) 294-1674
Law Offices of Mark E. Salomone
(857) 444-6468
Smith & Hassler
(713) 739-1250
