Jorge Cervantes specializes in M&A, project finance, energy and infrastructure finance transactions. He has extensive experience advising parties in a wide- range of complex cross-border and national transactions in Mexico, representing sponsors, developers, private equity investors, financial institutions, banks, lenders and governments on different acquisitions, dispositions, joint ventures, project development and financings. His experience encompasses a broad range of transactional and regulatory work and has included some very relevant transactions involving oil and gas, power plants, renewable energy, petrochemicals, LNG, pipelines, telecommunications, real estate, hotels and infrastructure projects in general.
Mr. Cervantes has received the following repeat recognitions for his practice.
- Chambers and Partners Latin America as leading individual in Projects, Corporate/M&A and Real Estate
- IFLR 1000 as highly regarded leading lawyer
- Who’s Who Legal in M&A and Governance, Project Finance and TMT
- LACCA Approved 2018 in Corporate / M&A, being selected for inclusion in the first edition of LACCA: Thought Leaders 2018 in the areas of Corporate and M&A
- Euromoney’s Banking, Finance and Transactional Expert Guide as one of the best lawyers in Latin America
- International Who’s Who of Business Lawyers
- Latin Lawyer, named one of Mexico’s leading business lawyers
- Euromoney’s Guide to the World’s Leading Technology, Media and Telecommunication Lawyers
- Inclusion in the Financier Worldwide Magazine’s M&A and Corporate Finance Guide
- Best Lawyers in Mexico
Macquarie Capital in the US$56m sale to an SPV of InfraRed Capital Partners and Invex Infraestructura, of a 45.5% stake in Norte III Power, S.A.P.I., which owns the 907 MW Norte III power plant in Mexico for the generation of electricity for the Federal Electricity Commission pursuant to a 25-year PPA.
Macquarie Capital and Techint, as sponsors, in the highly complex US$1.2b acquisition, development and project financing of the landmark 907MW Norte III power plant in Mexico, which will generate power for the Federal Electricity Commission pursuant to a 25-year PPA. This transaction was named LATAM Power Deal of the Year by Project Finance International (Thompson Reuters); Latin American Power & Overall Deal of the Year by IJ Global (Euromoney); and as Project Finance Deal of the Year by Latin Lawyer.
Grupo Fertinal (the largest fertilizer producer in Mexico and Latin America) and its shareholders, in the US$680m sale of 100% of the equity to newly created PEMEX subsidiary, Pemex Fertilizantes.
Lumex Holding B.V. (a joint venture of OAO LUKOIL and Marak Capital) in the acquisition of Petrolera de Amatitlán, S.A.P.I. de C.V., the contractor under the Hydrocarbons Exploration and Production Services Agreement (CIEP) for the Amatitlán area.
IFM Investors in the US$650m acquisition of a 24.99% stake in Organización de Proyectos de Infraestructura, a wholly-owned subsidiary of OHL Mexico, which owns Concesionaria Mexiquense, the holder of the Circuito Exterior Mexiquense 110 Km toll-road in the State of Mexico.
DIRECTV in the antitrust and telecom regulatory approval of its US$67b merger with AT&T, and the implications arising from its 41% ownership of SKY Mexico, the largest DTH satellite Pay-TV provider in Mexico.
Cartesian Capital Group and Digital Realty, Inc. in the US$80m acquisition of a significant equity position in MetroNet, a Mexican telecomm concessionaire and operator of data and IT services.
Cartesian Capital Group and Digital Realty, Inc. in the US$450m sale to KIO Networks of MetroNet.
Bain Capital in its EUR€1.3b acquisition of Atento Group from Telefonica.
Cartesian Capital Group, in its Pesos $675m Convertible Loan to Comercializadora Circulo K, to purchase 100% of the 900+ Tiendas Extra from Grupo Modelo, to add to Circle K’s 200+ mini-market stores in México.
Euler Hermes and Mapfre in their strategic alliance involving the combination of their credit insurance businesses in Argentina, Chile, Colombia, Mexico and Spain, as well as the merger of the regulated Mexican insurance Companies.
Prologis Property Mexico and Corporación Actinver in the sale to Alta Growth Capital Mexico Fund of 100% of their equity in Operadora Central de Estacionamientos (formerly Central Parking Systems Mexico.
Avista Capital Partners in the US$780m global acquisition of The Clorox Company’s auto care business (including the Armor All® product line.
Sentinel Capital Partners in its US$200m merger buyout of Engineered Controls International.
Project Finance / Infrastructure / Power Generation
A subsidiary of Chevron Corporation in connection with the negotiation and execution of a long-term Terminal Services Agreement with an affiliate of Infraestructura Energética Nova, S.A.B. de C.V. for the storage of gasolines and diesel in a new US$130 million refined products terminal in the State of Baja California in northern Mexico, as well as in related agreements for an option to acquire 20% of the equity of the terminal.
Citigroup, Sumitomo Mitsui Banking Corporation, BNP Paribas, JPMorgan Chase, and The Bank of Nova Scotia, acting as Joint Lead Arrangers and Joint Bookrunners in a simultaneous syndicated credit facility and a Rule 144A / Reg. S bond offering to allow private equity fund Actis to successfully complete its acquisition of global power-generation company InterGen’s business interests in Mexico, including the purchase of 2,200 MWs in operation with six combined-cycle power generation projects, a 155 MW wind project with partner IEnova, a 65-kilometer natural-gas pipeline, and 3 natural gas-compression stations, for an enterprise value of US$1.256 billion. This is the first time that a project acquisition in Mexico of this size is executed with the use of bond proceeds.
Macquarie Capital and Techint, as sponsors, in the highly complex US$1.2b acquisition, development and project financing of the landmark 907MW Norte III power plant in Mexico, which will generate power for the Mexican Federal Electricity Commission pursuant to a 25-year PPA. This transaction was named LATAM Power Deal of the Year by Project Finance International (Thompson Reuters); Latin American Power & Overall Deal of the Year by IJ Global (Euromoney); and as Project Finance Deal of the Year by Latin Lawyer.
Jaguar Exploración y Producción de Hidrocarburos and The Blackstone Group in their pre-qualification and presentation of their joint bids as a Consortium in International Public Bid “Round 1.3”, called by the National Hydrocarbons Commission for the award of E&P license agreements of 25 oil fields.
KST Electric Power Company, Korea Electric Power Corporation, Samsung C&T Corporation and Techint in the US$450m financing by the Export-Import Bank of Korea, Crédit Agricole, Sumitomo-Mitsui, Scotiabank and West LB, for the construction of the largest Korean-sponsored power plant ever developed in Latin America. This deal was named “Latin America Power Deal of the Year” by Project Finance Magazine.
ING Mizuho, CitiBank, Crédit Agricole, La CaixaBank, Sabadell, Banamex and BBVA, in their US$300m acquisition financing to Vopak and EneGas to purchase the Altamira II LNG facility.
EIG Global Energy Partners in their strategic alliance with Abengoa for the financing, construction and development of a US$2b energy/power generation portfolio comprised initially of projects in México, Brazil and Chile.
KEPCO, Samsung and Techint in an international public bid and a 25-year Power Purchase Agreement with the Federal Electricity Commission for the construction and operation of the Norte II 433 MW CCGT power subsidiary plant, the largest Korean-sponsored power plant ever developed in Latin America.
Hidrobenz in its joint venture with PMI Comercio Internacional (a PEMEX subsidiary) and Trafigura, for the development, construction, financing, operation and ownership of a 350km pipeline project and related storage facilities, for transportation of gasoline, diesel and lubricants in the Yucatán Peninsula.
Grupo Mexico in a USD$127m financing funded by INBURSA, for the acquisition of the 125.27m Friede & Goldman Super M2 jack-up drilling rig “Zacatecas”, constructed by Maritime Industrial Services Co. Ltd, and leased by PEMEX-Exploración y Producción.
Perforadora Mexico in a US$140m refinancing funded by INBURSA, for the acquisition of the drilling rig type Hull 106 “Chihuahua”, leased by PEMEX-Exploración y Producción.
Pacific Rubiales as bidder with PEMEX-Exploración y Producción for “Incentivized Contracts” for the exploration and production of the Carrizo, Magallanes and Santuario oil fields.
DMGP (a consortium formed by Mexssub, Diavaz, Penspen and Greystar) in the development of a US$1.3b pipeline transportation system for PEMEX-Exploración y Producción in the State of Tabasco.
Japan Bank for International Cooperation (JBIC), Calyon and Citigroup in a US$1b facility for an international consortium bid to purchase power plants and assets of Electricité de France in Mexico.
Japan Bank for International Cooperation (JBIC) in a US$600m financing to Mitsubishi Corporation for the construction of a 648 MW coal-fired power generation plant tendered by the Federal Electricity Commission.
Bain Capital in their Pesos $1.1b Senior Facility Agreement with BBVA Bancomer and Santander for the acquisition of the Atento Group from Telefonica.
Bain Capital and Atento BC Luxco in their Rule 144A/Reg. S issuance of US$300m notes due 2020.
ICICI Bank and a syndicate of European and Asian banks in the EUR€370m financing to Motherson Sumi Systems to fund its acquisition of a majority stake in Germany’s Peguform Group.
Commerzbank and a syndicate of European, US and Asian banks in the US$350 and €75m financing facilities to AMG Advanced Metallurgical Group.
Bangkok Bank in a US$350m financing to Indorama, for the acquisition of a polymers and resin business.
LaSalle Investment Management in more than US$500m in real estate acquisitions and development transactions throughout Mexico, for a variety of residential, hotel, retail, commercial, industrial and mixed-use projects.
Daymoon Desarrolladores, in their US$80m acquisition of the ME by Meliá Hotel in Cancún, Quintana Roo
Grupo LAR in the acquisition of 340 tracts of land in the Bosque Real golf and residential complex.
Reichmann International in the development and construction of Torre Mayor, the tallest building in Mexico City and Latin America, and the leasing of more than 70,000 sq. meters of AAA office space.
Cushman & Wakefield and different clients, in transactions for the acquisition, divestiture or development of real estate projects in Mexico, including touristic, retail, corporate and industrial premises, and of distressed loans and receivables underlying or secured by real estate assets.