China Yangtze Power Company $3.59 billion acquisition of Sempra Energy's Peruvian businesses

Overview:

• Chinese hydropower company China Yangtze Power Company entered an agreement to buy Sempra Energy’s Peruvian businesses for $3.59 billion.
• Sempra’s Peruvian businesses include an 83.6% in Luz del Sur, the largest listed power company in Peru. 
• Citi was China Yangtze Power Company’s financial adviser. BofA Merrill Lynch and Lazard serve as Sempra's financial advisers through the sale.
• The deal is currently the largest overseas M&A transaction by a Chinese company in 2019.
• The transaction is expected to close in the first quarter of 2020.

Chynna Lewis – Researcher