I Squared Capital to Acquire Duke Energy International’s Latin American Businesses (excluding Brazil) for $1.2 Billion Enterprise Value

I Squared Capital announced recently that its ISQ Global Infrastructure Fund has entered into an agreement with Duke Energy  to purchase 100 percent of Duke Energy International’s Latin American businesses, excluding Brazil, for $1.2 billion enterprise value.Duke Energy International (ex-Brazil) (“DEI”) is a leading power generation and transmission company in Latin America, operating across Peru, Chile, Ecuador, Central America and Argentina, with a history of strong operating and financial performance.

With over 2,300 megawatts of hydro and thermal generation, 730 kilometers of 220kV transmission lines and natural gas processing facilities, the portfolio is one of the largest privately owned electricity generation companies in Latin America and has significant market share in several countries.

Commenting on the transaction, Adil Rahmathulla, Partner at I Squared Capital, said: “The acquisition is consistent with our strategy of investing in select high-growth economies through companies that have a long track record of adhering to the highest standards of excellence. We are excited to expand our global portfolio of clean power generation with more than 4,500 megawatts of hydro, wind, thermal and solar power across the Americas, Europe and Asia. We continue to have a robust pipeline of opportunities thanks to the platforms we have developed globally and this investment will allow us to grow in attractive markets.”