Ingeniería Estrella Completes Minority Investments in AES’ Dominican and Panamanian Businesses
03.06.24
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The Firm recently represented Dominican construction company Ingeniería Estrella S.A. (“Ingeniería Estrella”) and its affiliates in connection with Ingeniería Estrella’s additional minority investments in the business of The AES Corporation’s (NYSE: AES) in the Dominican Republic and Ingeniería Estrella’s initial minority investment in Panama’s AES Colon.
AES’ businesses in the Dominican Republic include an LNG regasification terminal, the AES Andres 319 MW combined cycle gas turbine plant, DPP 328 MW combined cycle gas turbine plant, as well as an additional 150 MW of solar and wind power plants. AES Colón includes a 381 MW combined cycle gas turbine plant with an adjacent regasification facility that has a 180,000 m3 LNG capacity storage tank.
Ingeniería Estrella’s investment in the Dominican Republic is an expansion of an existing investment in AES Dominicana for a total equity stake of 10% while the Panama investment is Grupo Estrella’s initial 15% investment in AES Colón. Ingeniería Estrella is an international engineering company based in the Dominican Republic with several decades of experience in civil construction, complex project development, design and manufacture of metal structures and supply of steel, concrete, asphalt and cement laminates.
The Simpson Thacher team included Todd Crider and Borja Marcos (M&A); and Jomar Vargas (Banking and Credit).