News

Two local firms, Clifford Chance selected as advisors in Brazilian IPO

09 March 2001

Souza, Cescon Avedissian, Barrieu e Flesch Advogados, a recent breakaway from Machado, Meyer, Sendacz e Opice Advogados, is advising Microsiga, the Brazilian software group, in its IPO.

Brazil relaxes stock exchange rules

09 March 2001

The Brazilian Monetary Council has made more flexible the regulations governing the incorporation, organisation and operation of stock exchanges in Brazil with a view to rendering transactions made at local stock exchanges more flexible.

Shearman & Sterling and Pérez Alati advise on US$275 million commercial paper programme

02 March 2001

Shearman & Sterling and Pérez Alati are advising in a US$ 275-million LC-backed commercial paper programme for Banco Río de la Plata, the second-largest privately-owned bank in Argentina. The arrangers of the transaction are Bank of America and Banco Santander.

Single office mining grants

02 March 2001

Venezuela's Ministry of Energy and Mines has created a single office responsible for negotiating mining grants. The new office will consist of an Interdepartmental Commission (covering energy and mines, defence, finance and environment), a Technical Committee and a body in charge of 'client attention' - ie customer service.

New powers for CAMEX

02 March 2001

Brazil's Chamber of Foreign Commerce, the Câmara de Comércio Exterior (CAMEX), has been given new powers to fix import and export rates, establish anti-dumping and compensatory duties, as well as implement safety measures.

Creel, García-Cuéllar y Müggenburg, SC advises in telecom joint venture

02 March 2001

PanAmSat Corporation is to use PanAmSat satellites in order to provide satellite-based telecommunications services in Mexico in a joint venture with Corporativo W Com, SA de CV. The sums involved in the deal are as yet undisclosed.

Pérez Alati advises banks backing Telecom Argentina's mobile plans

02 March 2001

Pérez Alati, Grondona, Benites, Arnsten & Martínez de Hoz has successfully advised the lending consortium behind Telecom Personal’s recently-announced expansion plans. The mobile services division of Telecom Argentina has agreed to invest US$284 million in 2001 on expanding and improving its mobile telephony services.

Creel, Garcí­a-Cuéllar advises on cigarette securitisation

02 March 2001

Creel, García-Cuéllar y Müggenburg, SC is acting as counsel to the borrower, Cigarrera La Moderna SA de CV, and the guarantor, British American Tobacco Plc, in the securitisation of a loan worth over US$100 million, granted by BBVA Bancomer.

Free competition for Uruguay's telecoms market

02 March 2001

Uruguay has passed a new law abolishing the state monopoly over telecommunications services and creating a watchdog for the telecoms sector.

Conam to publish bidding rules on power distributors

23 February 2001

Shearman & Sterling is acting as legal counsel to Ecuador’s privatisation committee Conam in the privatisation of 18 regional power distributors in the country.