Citigroup Venture Capital International in Oil and Gas Investment in Peru

February 22, 2005

Cleary Gottlieb represented Citigroup Venture Capital International in its acquisition of an interest in a petroleum exploration and production license in Peru. Cleary handled both the acquisition of the license from The Williams Companies and the negotiation of the agreements among co-investors in the license.  The transaction represented CVC International’s first investment in the oil and gas sector in Latin America.

CVC International is a division of Citigroup engaged in private equity investments in emerging markets. Since 2001, CVC International has invested over $525 million in 36 private equity transactions.