Leading Mexican Energy Infrastructure Company Infraestructura Energética Nova in $600 Million IPO

March 28, 2013

Cleary Gottlieb represented Credit Suisse, Deutsche Bank and Citigroup as the initial purchasers in the initial public offering by Infraestructura Energética Nova, (“IEnova”), a leading Mexican energy company and subsidiary of Sempra Energy. The transaction consisted of an offering of 189,661,305 shares of common stock by IEnova and an additional 28,449,195 shares of common stock by the selling shareholders. The global offering consisting of a public offering in Mexico through the Mexican Stock Exchange and a private placement in the United States under Rule 144A and outside of the United States in reliance on Regulation S. The common stock is listed on the Mexican Stock Exchange under the symbol “IENOVA.” The deal priced on March 21 and closed on March 27; the greenshoe option was exercised on March 28.

The offering price was Ps. 34.00 per share. This deal is the seventh Mexican IPO in which Cleary Gottlieb has acted as special U.S. counsel within the last 12 months.

IEnova is a leading energy infrastructure company in Mexico with a successful track record in the development, construction and operation of large energy projects. IEnova was one of the first private companies to enter the energy infrastructure business in Mexico in the mid-1990s following the changes to Mexican gas regulation in 1995. Sempra Energy, a San Diego-based utility and energy company, owns over 80% of the capital stock of IEnova after giving effect to the offering.