Cuatrecasas advises Macquarie on acquiring stake in gas pipeline with $195-million syndicated loan

2025-03-21T16:19:00
Mexico
Cuatrecasas advises Macquarie on the acquisition of a stake in "Los Ramones II Sur" gas pipeline through a US$195 million syndicated credit agreement.
Cuatrecasas advises Macquarie on acquiring stake in gas pipeline with $195-million syndicated loan
March 21, 2025
Cuatrecasas has advised Macquarie Asset Management (MAM) on the acquisition of a stake in “Los Ramones II Sur” gas pipeline from Brookfield Asset Management, and on the related financing. 

The transaction was completed on January 13, 2025. 

As a result of the transaction, the current shareholders of the company that owns and operates the gas pipeline (TAG Pipelines Sur) are Engie, with a 50% stake, MAM, with a 45% stake, and Pemex, with the remaining 5% stake.

The acquisition was partially funded with a syndicated credit agreement in the amount of US$195 million (including letters of credit) granted by Crédit Agricole, Mizuho, MUFG and SMBC.

“Los Ramones II Sur” gas pipeline transports natural gas from the United States to Mexico and supplies some 20% of Mexico’s total natural gas demand. It runs for 291 kilometers through the northeastern states of Tamaulipas and Nuevo León and the central states of San Luis Potosí, Querétaro and Guanajuato. 

The Cuatrecasas team involved in this transaction was led by partners León López, Santiago Ferrer, Marco Antonio de la Peña and Gizeh Polo, and formed by associates Rafael Rodríguez, Fernando Ruiz, Luis Fernando Díaz Simón, Mariana Padilla, Daniela Sancliment and Ivana Muñiz, among others. 
March 21, 2025