We are advising Esentia on the offering

Davis Polk is advising Esentia Energy Development, S.A.B. de C.V. in connection with its $550 million initial public offering, consisting of an international offering of 151,750,000 shares of common stock and a concurrent public offering in Mexico of 72,250,000 shares of common stock, each at a price of MX$45.00 per share. The shares trade on the Bolsa Mexicana de Valores. The shares sold in the international offering were placed under Rule 144A and Regulation S. The Mexican underwriters have a 30-day option to purchase up to an additional 33,600,000 shares to cover over-allotments. The offering is expected to close on November 21, 2025, subject to the satisfaction of customary closing conditions.

Esentia is a leading company in Mexico’s energy sector, specializing in the transportation and commercialization of natural gas. With over 20 years of experience, Esentia develops infrastructure projects that foster growth and expand access to energy, contributing to Mexico’s well-being and sustainable development. Esentia operates Mexico’s largest interconnected natural gas system, which delivers reliable, cost-efficient natural gas from Waha, Texas, across central Mexico to the country’s key industrial regions.

The Davis Polk capital markets team includes partners Hillary A. Coleman and Maurice Blanco and associates Marcos Sauquet Trias and Gabriela N. Gura. The corporate team includes partner Thomas J. Malone and associate Saba Yasmin. The finance team includes partner David J. Penna and counsel Costanza Garcia Laposse. Partner Ethan R. Goldman is providing tax advice. Partner Veronica M. Wissel is providing executive compensation advice. Members of the Davis Polk team are based in the New York and Washington DC offices.

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