NHG acted as Mexican counsel to a syndicate of 13 financial institutions, including Crédit Agricole Corporate and Investment Bank as administrative agent and Scotiabank Inverlat, S.A., Institución de Banca Múltiple, Grupo Financiero Scotiabank Inverlat as Mexican collateral agent, in the US$2.5 billion senior financing  (including a letter of credit facilities) and a US$100 million VAT facility granted to Energía Mayakan, an affiliate of the ENGIE Group, for the development, construction and operation of the expansion to the existing Mayakan pipeline system for the transportation of natural gas, mainly for CFE. This expansion comprises a new pipeline of ~ 700 kilometers in length to be located in parallel to the existing system, commencing at the natural gas processing center located in Nuevo Pemex in the State of Tabasco and terminating at the new CFE power plants Mérida IV and Valladolid IV in the State of Yucatán.

NHG’s advice included all matters related to the financing structure and collateral documents, rights of way, project contracts, negotiations with CFE, environmental and regulatory matters, insurance, and tax. 

The expansion represents one of the current administration’s most relevant infrastructure projects, allowing CFE to secure transportation of the gas supply for the energy production required in the Yucatán peninsula. The expansion will duplicate the existing pipeline’s capacity to 567 million cubic feet. It will consolidate the interconnection with the marine project Puerta del Sureste, which transports gas from Texas, representing a historic boost to the region’s energy infrastructure while avoiding the emission of 4.6 million tons of CO2 in Yucatán.

The project will directly benefit Chiapas, Campeche, Tabasco, and Yucatán users by lowering electricity tariffs while propelling industrial development.

The NHG senior financing team, led by partners Javier Arreola E., Vanessa Franyutti J., and Santiago Medina Z., demonstrated their expertise in this project. They were supported by associates Ana María Alpízar H., Juan José Pastrana M., L. Felipe Santana, Ana Azcoitia R., and Gabriela Zorrilla A. and law-clerks Daniela García R. and Natalia Armendáriz M., all of whom played critical roles in the successful execution of the project.

The NHG environmental and regulatory team, led by partner Marcela Ánimas M., associate Carlos J. Porragas L., and law clerk Andrés Montemayor A., played a crucial role in ensuring the project’s compliance with environmental and regulatory standards. Their expertise and dedication were instrumental in the successful execution of the project.

The VAT facility lenders were represented by partner Alejandro Rojas V. and associate Fernando Castillo V.

NHG team advice was complemented on insurance matters by partner Luciano Pérez G. and associate Enrique Salcedo R. on tax matters by partner Ana Paula Pardo L.

NHG advised Sequoia Capital, a leader venture capital firm based in California with more than 50 years of experience, that invests in multiple sectors including the financial sector, in securing the regulatory approval from the National Banking and Securities Commission and in the regulatory filing process thereof, to acquire shares in the capital stock of the asset manager Fintual Distribuidora, Sociedad Distribuidora Integral de Acciones de Fondos de Inversión.

Sequoia’s equity acquisition in Fintual is one of the first investments made by Sequoia in Latin America.

NHG advised the hospital group Grupo Excel in securing the authorization to incorporate and operate the insurance institution in Mexico which will provide accident and illness insurance in the medical expenses branch called Seguros de las Californias.

The purpose of the project is to create a synergy between the insurance institution to be set up and the Excel Medical Center, a hospital belonging to the Excel Group, where the Excel Medical Center, through its medical network, will provide medical services to the insurance institution’s policyholders.

The synergy between the insurance institution and the Excel Medical Center will have unique advantages and benefits for all parties, especially for the insured.

NHG advised the Mexican Mapfre Group in the acquisition of 94.4% of the capital stock of the Mexican Insurance Company Insignia Life, for an initial amount of approximately 86 million euros.

With this new acquisition, Mapfre intends to develop a range of life insurance products that will drive the growth of this business in the Mexican market.

The acquisition is subject to the prior authorization of the National Insurance and Bonding Commission (CNSF) and the Federal Economic Competition Commission (COFECE).

NHG advised Anderson, Mori & Tomotsune representing Mizuho Bank and a group of 25 lenders in the negotiation and execution of a security package from Marelli and its subsidiaries in Mexico to guarantee the refinancing of a syndicated loan extended by Mizuho Bank and a group of lenders.

NHG advised Microsoft Corporation on the acquisition of Xandr,  the U.S. advertising and analytics division of AT&T, whose Mexican subsidiary is AppNexus Latin America Advertising Technology Limited.

NHG advised specialist reinsurance broker BMS in the the acquisition of Mexican reinsurance broker PWS Mexico.

NHG advised Bupa México, in the creation and implementation of a new medical expenses insurance product called “Tú médico particular”, with BBVA, through the execution of a Quota Share Reinsurance Agreement in which Bupa México acted as reinsurer and BBVA Seguros acted as the reinsured.

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NHG advised a group of Mexican entrepreneurs and foreign international investors in the structuring of a vehicle that secured a license from the Mexican Government to incorporate and operate an insurance company specialized in healthcare (ISES) in Mexico and advised Sofia Salud in the drafting of its insurance policies and innovative operating platform using technology such as telemedicine and in the underwriting to provide health services to the Mexican population disrupting the Mexican health insurance market.

Furthermore, NHG Partner Yves Hayaux du Tilly was asked to serve in the board of directors of Sofia Salud as Non Executive Director.

NHG advised Fidelity National Financial, as Mexican co-counsel, on regulatory issues arising from the acquisition of Stewart Information Services Corp., and in securing the regulatory approvals required in Mexico from Mexican regulators.

The deal was also covered by LatinLawyer y LexLatin.