Kirkland & Ellis LLP advised Trafigura on its joint venture with Infraestructura Energética Nova, S.A.B. de C.V. (IEnova) to develop a refined products terminal and storage facility in Manzanillo, Colima, Mexico. The project’s estimated investment is approximately US$200 million. 

(Press Release) Kirkland & Ellis LLP counseled Trafigura in connection with its joint venture with Infraestructura Energética Nova, S.A.B. de C.V. (IEnova) to develop a refined products terminal and storage facility in Manzanillo, Colima, Mexico. The project’s estimated investment is approximately US$200 million.  The transaction also includes  a long-term terminal services agreement with Trafigura for 740,000 barrels of storage capacity at the facility. As part of the agreements, IEnova acquired 51 percent of the equity of the company whose subsidiary owns certain permits and land where, subject to the issuance of the remaining permits and other conditions, the project will be built. Affiliates of Trafigura retained 49 percent of the equity of the project. The companies entered into a joint venture agreement governing the development, construction, and operation of the project. IENova’s full release is available here.

The Kirkland team was led by corporate partners Rhett Van Syoc, Sam Peca and Jonathan Castelan and associate Hakim Effiom-Dauw.