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Sidley Austin LLP

Work +1 202 736 8000
Fax +1 202 736 8711

Ayaz Shaikh

Work +1 202 736 8154
Sidley Austin LLP

Work Department

Project Finance and Infrastructure
Global Finance




Latin America: International firms

Projects and energy

Within: Projects and energy

Sophisticated’, ‘good to work with’, Sidley Austin LLP is ‘very active in Mexico and beyond’. The firm has impressed with its work related to the restructuring of the electricity sector in Mexico, and it continues to be a significant player in oil-and-gas and renewables transactions. The team advised Mexican state utility, Comisión Federal de Electricidad (CFE), on the development of natural gas transportation pipelines between the US and Mexico. In other headline deals it advised Singapore’s sovereign wealth fund, GIC, on its participation in the acquisition of a 90% stake in Petrobras’ Nova Transportadora do Sudeste pipeline unit, as part of a consortium led by Brookfield. The team also continued to represent Partners Group regarding its investment in the under-development Seabras-1 fibre optic telecommunications cable between the United States and Brazil. Key figures include Houston-based Sergio Pozzerle (a prominent name for renewable energy); Glenn Pinkerton, (who has an impressive record in energy projects in Mexico, Brazil and Peru); and James Rice who is ‘quick to understand the issues’ and ‘helps to move the process along while protecting his client’s interests’. In Washington DC, Kenneth Irvin leads on the relationship with Mexico’s CFE and Ayaz Shaikh is recommended for project finance in the renewable energy sector.

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Leading firms

Within: Leading firms

Although Sidley Austin LLP does not have an office in the country, the firm has a sizeable team of practitioners, who are experienced in large-scale disputes and project finance matters in Mongolia. Headed by ‘excellent leaderAyaz Shaikh, it ‘combines the highest service standards with a deep understanding of the Mongolian market’. Recent work highlights include advising a Mongolian natural resources company on the work out of loans and avoiding bankruptcy. The group is also acting for the lead sponsor in the development, construction and financing of a major freight rail network with a predicted cost of $7bn. Tom Deegan is recommended for his mining and energy expertise.

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United States: Finance

Project finance

Within: Project finance

Sidley Austin LLP’s ‘delightful, responsive, dedicated’ practice is jointly headed by the Houston-based Glenn Pinkerton and the ‘very commercial’ Nicholas Grambas, who is based in New York. The firm, which acts for a variety of prominent lenders and multi-jurisdictional sponsors, handles a wide variety of projects, including oil and gas, transportation and satellites, though midstream oil and gas and commodities transactions are a particular strength. On the investor side, Grambas acted for Aboitiz Power Corporation on the financing and subsequent $1.2bn purchase of a 66% stake in a 604MW power plant and a 40% stake in a 1,336MW power plant, both situated in the Philippines. Robert Stephens advised Citigroup Energy on a hedge transaction related to the $280m financing of the 204MW Shannon wind project in Texas. Sponsor clients include Facebook, which instructed the firm on the procurement, construction, development and financing of several satellite projects; and the Mongolian Ministry of Transportation and Mongolian Railway, which the Washington DC-based Ayaz Shaikh advised on the financing, construction and development of a $7bn, 1,800km freight rail network. In the oil and gas space, Stephens assisted U.S. Oil & Refining with a supply and financing facility for its Tacoma Washington refinery. Timothy Chandler made partner in the Houston office in January 2017. Since publication David Asmus and Brian Bradshaw have joined in Houston from Morgan, Lewis & Bockius LLP.

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United States: Industry focus

Energy transactions: conventional power

Within: Energy transactions: conventional power

Sidley Austin LLP’s practice is especially strong in M&A, though project finance, power purchase agreements (PPAs) and restructuring are also areas of expertise. New York-based Nicholas Grambas acted for Aboitiz Power in its $1.2bn purchase of a 66% interest in a 604MW power plant and a 40% stake in a 1.3GW power plant, both based in the Philippines; the team also assisted with financing the transaction. Irving Rotter, also in New York, and Ayaz Shaikh in Washington DC advised Macquarie Capital (USA) on its loan to IMG Midstream Power for a power project portfolio financing.

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