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IEnova purchase is approved

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World Pipelines,

Sempra Energy’s Mexican subsidiary, Infraestructura Energética Nova, S.A.B. de C.V. (IEnova), has recently received approval from Mexico's antitrust commission (Comisión Federal de Competencia Económica) for the purchase of PEMEX's 50% equity interest in the Gasoductos de Chihuahua joint venture. The deal is estimated at approximately US$1.1 billion.

The purchase is expected to be completed later this month, subject to conditions.

IEnova develops, builds and operates energy infrastructure in Mexico. Since December 2015, the company has invested over US$4 billion in operating assets and projects under construction in Mexico. It is the first energy infrastructure company to be listed on the Mexican Stock Exchange.

Gasoductos de Chihuahua develops and operates energy infrastructure in Mexico. The assets included in the transaction are three natural gas pipelines, an ethane pipeline and a liquid petroleum gas pipeline. IEnova will also have a share in the associated storage terminal.

Adapted from press release byAnna Nicklin

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