IFC and Fund Make $100M Investment in InterEnergy
The deal comes in the midst of an energy M&A flurry
International Finance Corp. (IFC) and the IFC African, Latin American and Caribbean Fund have made a joint $100 million equity investment in InterEnergy Holdings, in the latest move in the busy energy M&A sector.
InterEnergy Holdings owns and operates power generation assets in Latin America and the Caribbean. The deal should help IFC expand its operations in Latin America.
Each party contributed $50 million for the deal, which should also help InterEnergy diversify the Dominican Republic’s energy sources.
IFC is a Washington, D.C.-based global development institution. The IFC Fund is a $1 billion investment fund managed by IFC Asset Management Co. LLC.
Morgan Lewis & Bockius LLP was InterEnergy’s counsel for the equity investments.
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