Squire Patton Boggs advised Martí, a prominent Dominican Republic business group, on a strategic alliance with TotalEnergies, the global energy company. The strategic alliance will support the country’s sustainable development and energy transition efforts. The closing of the transaction is expected to occur in the third quarter of the year, subject to the corresponding approvals.
The Squire Patton Boggs team was led by Corporate partners Alejandro Peña Prieto in Santo Domingo, and Paul A. O’Hop and subsequently Alvaro J. Mestre, both in Washington, DC. The team included associates Miguel Cano, Laura Consuegra, María Pía García, and Sara Lezcano in Santo Domingo, as well as associate David Marella in New York.
Martí is a business group with more than 60 years of operation in the Dominican Republic, Central America, and the Caribbean, through several brands including Tropigas, Sunix, Tropigas Natural, and Fundación Tropigas. Martí is a leader in the liquefied petroleum gas (LPG) market, and a pioneer in the liquefied natural gas (LNG) market, in the Dominican Republic. TotalEnergies has had an important presence in the country’s energy market since 2010.
The strategic alliance will result in a 50/50 economic joint venture, uniting the TotalEnergies brand, and the Sunix and Tropigas Natural brands, in a single network of more than 190 service stations, which will be operated under the TotalEnergies brand. It will also expand the commercial activities of both companies in the distribution of natural gas, fuels, lubricants, solar, and other renewable energies, reinforcing their leadership position in the Dominican Republic.
“We are delighted to support our client Martí on this strategic alliance that promotes a transition to a sustainable energy strategy in the Dominican Republic,” said Alejandro Peña Prieto. Alvaro J. Mestre added, “It is a privilege to advise Martí on such a historic transaction.”