BBVA Corporate Finance has acted as exclusive financial advisor to Enagás in the acquisition of a 4.34% stake in Transportadora de Gas del Perú, S.A. (TgP) from SK Innovation Co, LTD and Corporación Financiera de Inversiones, for a total of 97 million dollars.
BBVA's expertise has been key for the success of the deal, with its prior knowledge of the asset and good positioning in the Latin American market. BBVA has provided Enagás with a comprehensive advice service that included negotiating tactics, a valuation and profitability analysis of TgP, advice on the structure of the deal, and assistance with the negotiation of the contracts.
The deal is in line with the strategy of the parties involved. Enagás has consolidated its position in Peru as a strategic operator and strengthened its long-term commitment to the country. At the same time, SK Innovation Co, LTD and Corporación Financiera de Inversiones have sold their stake in one of the best macroeconomic environments to a natural buyer of these assets, and have managed a divestment with a simple and swift process at a very competitive price and a minimum impact on the company.
This is BBVA's sixth deal in the last three years, and the fourth in which it has advised Enagás. It demonstrates BBVA's leading position as a leading advisor in gas infrastructure assets and its relationship as a strategic partner of the Spanish company.