Baker McKenzie advised Enagás, a Spanish energy company and European transmission system operator, in the sale of its 45.4% equity stake in GNL Quintero to a consortium formed by US infrastructure investor EIG and Belgian gas utility Fluxys.

EIG continues to grow its presence in Chile at a time when the country has plans to become one of the world's largest green hydrogen producers, while Fluxys has entered the market through this significant investment.

The cross-border team was led by partners Antonio Morales and Juanjo Corral in Madrid, Jose Moran in Chicago, Jonathan Farrokhnia in Dallas, and Antonio Ortúzar Jr. in Chile, supported by associates Carlos Suárez in Chicago, Andrés Lecaros and Juan Ignacio Donoso in Chile.

Commenting on the transaction, Antonio Morales, Chair of the Madrid's office Energy Practice Group said, "We offer clients the benefits of a broad-based, collaborative Energy M&A practice focused into Latin America—anchored by our Madrid, Chicago, Miami, and New York offices and complemented by our 800 lawyers across 15 offices in seven countries in Latin America. The lawyers in our Latin American Projects team understand the legal and political challenges within the local markets and have the cultural background to work effectively in the region. Our most sincere congratulations to Enagás in achieving yet another strategic business objective."

The deal was signed on 28 March and is expected to close in the second half of 2022.

Baker McKenzie's Global Projects Practice has extensive projects and natural resources experience. With more than 75 offices across 45+ countries in the Americas, Europe, Middle East, Africa and Asia, we have over 200 projects lawyers in our clients' most important locations, including key financial centers and market-leading teams in emerging jurisdictions.
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