BBVA reinforces its leading M&A franchise in Iberia, México and the Energy sectorApril 29, 2013
BBVA Corporate & Investment Banking has acted as exclusive financial advisor to Renovalia Energy in the sale of a 49.9% stake in its Mexican wind assets to First Reserve. It is the seventh M&A transaction announced by BBVA in 2013 year to date.
The 49% disposal of Renovalia's Mexican wind assets, Demex I and Demex II, to First Reserve is a landmark transaction given it represents the largest M&A deal in the Mexican wind energy sector and also the largest in Latin America since 2010.
The transaction involves two wind farms: Demex I, a 90MW wind farm already operational since June 2012; and Demex II, a 138MW wind farm under construction which is expected to be operational by the beginning of 2014. Both farms will provide power to roughly 300.000 Mexican households annually.
The Corporate Finance team, part of BBVA Corporate & Investment Banking, has managed to close this important transaction. This is the 7th M&A transaction announced by BBVA CF in 2013.
Previously, BBVA Corporate Finance team has issued a Fairness Opinion to Vueling in the context of IAG's takeover bid and advised Grifols in the acquisition of Progenika Biopharma, Grifols and Progenika in the acquisition of 20% of Progenika Latam, Grupo Cementos Portland Valderrivas in the asset swap of Cementos Lemona for a 26.4% stake in Corporacion Uniland and in the disposal of Southern Cement, and Veolia in the disposal of its business in Portugal to Beijing Enterprises Water Group.