Dentons Cardenas & Cardenas advised LNG Energy Group Corp. (“LNG”) on the indirect acquisition of gas assets in Colombia owned by Lewis Energy Group LP (Texas, USA), solidifying LNG’s entry in the country’s gas sector.
Through one of its subsidiaries, LNG successfully acquired all issued and outstanding shares of Lewis Energy Colombia Inc. (“LEC“) for an approximate amount of US$100,000,000. The acquisition was structured with a payment of US$80,000,000 in cash and US$20,000,000 in shares. This transaction was supported by a US$70,000,000 credit line and additional financing of US$22,500,000, which involved a private placement and listing of LNG’s shares on the Toronto Stock Exchange (TSX Venture Exchange).
The transaction involved Dentons’ advise in multiple jurisdictions, including: (i) Colombia; (ii) Canada; (iii) the United States; and (iv) the Cayman Islands.
Jorge Neher, lead partner of the transaction, commented,
“We are very pleased to have assisted LNG Holdings Inc., as we consider this transaction is strategic for the development of the gas sector in Colombia. Our multidisciplinary team worked diligently to achieve the success of this transaction, highlighting the preparation and dedication with which our lawyers take on complex and challenging transactions like this.”
On the other hand, Santiago González, lead partner of the transaction, added,
“I am very grateful to our client for allowing us to lead this highly significant transaction in the hydrocarbons sector in Colombia. It is very positive to see the notable interest of foreign investors in the country and the sector. Our role in this transaction was comprehensive and diverse, providing genuine support for our client. The comprehensive participation in all phases of this operation (including regulatory aspects, M&A, capital markets, and financing) serves as a perfect example of what Dentons represents and can contribute to projects and clients. Overall, this transaction reaffirms our ability to overcome complex challenges and achieve outstanding accomplishments, honoring our commitment to excellence in all stages.”
Among the team of lawyers who participated in this transaction are Jorge Neher, partner; Santiago González, partner; Carlos Vicioso, head of the Natural Resources and Energy practice; Ana Restrepo, associate; and Alejandro Parra, associate.
