M&A Year in Review 2023 brochure - Flipbook - Page 25
| M&A Year in Review | 2023
We advised Enel Group S.p.A., a global energy company, on
the US$2.9 billion sale of its subsidiary Enel Peru S.A.C.’s
equity stake in Enel Distribucion Peru SAA and Enel X Peru
SAC to China Southern Power Grid International Co. Ltd.
The transaction enables Enel Group to continue its focus
on operations in six core countries: Italy, Spain, the United
States, Brazil, Chile, and Colombia.
Lawyers in our Milan o昀케ce led the transaction, with
support from our Beijing, Hong Kong, London, New York,
and Rome o昀케ces and our antitrust, infrastructure and
projects, and litigation practices.
We advised Infracapital Partners Green昀椀eld Fund II
on its £275 million investment in Zenobē Energy Limited,
a UK-based EV 昀氀eet and grid-scale battery storage
specialist, in a deal which included a £700 million coinvestment from KKR, valuing Zenobē at £1.3 billion.
The investment fuels the expansion of Zenobē’s bus 昀氀eet
electri昀椀cation and grid-scale battery storage business,
delivering projects that will accelerate the decarbonization of
昀氀eet transportation and maximize the uptake of renewables.
Lawyers in our London o昀케ce led the transaction, with
support from our antitrust, employee bene昀椀ts, private
equity, and tax practices.
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We advised Equinor Ventures, the corporate venture
capital arm of global energy company Equinor, on its
Series B investment in Lithium de France, a leading
independent operator of geothermal heat and lithium
from hot brines located deep in the subsurface.
The investment expands Equinor’s ability to supply
geothermal heat and deepens its understanding of
developing technologies that deliver lithium to the
global battery market.
Lawyers in our Paris o昀케ce led the transaction, with
support from our antitrust and private equity practices.
We advised NextEra Energy Partners, LP (NEP) on
the US$1.815 billion sale of its Texas natural gas
pipeline portfolio to Kinder Morgan.
The sale provides proceeds to address the equity
buyouts of NEP’s STX Midstream and the NEP
Renewables II convertible equity portfolio 昀椀nancings.
Lawyers in our Houston o昀케ce led the transaction,
with support from our Mexico City, New York,
Northern Virginia, and Washington, D.C. o昀케ces
and our antitrust, employee bene昀椀ts, employment,
昀椀nance, infrastructure and projects, intellectual
property, litigation, and tax practices.
