Macquarie acquires Morelos gas pipeline in Mexico for €154 million

Cuatrecasas has advised Macquarie Infrastructure Partners on the purchase of Mexican companies Gasoducto de Morelos, S.A.P.I. de C.V. and Morelos O&M, S.A.P.I. de C.V.—owners and operators of a 172 km gas pipeline crossing the states of Morelos, Puebla and Tlaxcala—from Elecnor and Enagás. The acquisition of the two companies was carried out by MIP V International, a subsidiary of the Macquarie Infrastructure Partners investment fund, which is managed by Macquarie.

The transaction is valued at €154.2 million ($173.8 million) and subject to compliance with conditions precedent specific to this type of deal. Phase I of the project covers 123 km from Cuautla (Morelos) and to Huejotzingo (Puebla). Phase II covers 48 km, from an interconnection in Huejotzingo through Tlaxcala to link up with the Zempoala–Santa Ana (Hidalgo) gas pipeline.

The team advising on the transaction was made up of the Mexico City Corporate lawyers Santiago Ferrer, León López, Marco de la Peña, Carolina Pérez, Rafael Rodríguez Curiel and Fernando Ruiz.