News

Russian company inks deal in Colombia

23 August 2002

Lukoil, Russia’s largest oil company, has signed an association contract with Empresa Colombiana de Petróleos - Ecopetrol, the state-owned company which manages Colombia’s oil reserves.

Brazilian deal is dynamite

23 August 2002

Indústria Nacional de Explosivos Ltda (Inex), the wholly-owned Brazilian subsidiary of Norwegian company Dyno Nobel ASA, has entered into a joint venture with Magnum SA. Under the deal Inex becomes the owner of 50 per cent of the voting shares of Magnum. Both Dyno Nobel and Magnum are manufacturers of explosives and explosives-related products such as dynamite.

Mexican agency renews hostilities with Telmex

23 August 2002

Mexico’s Federal Competition Commission (CFC) has resumed its attack on the local services of Teléfonos de Mexico (Telmex), the former state monopoly telephone company, accusing it of practices akin to predatory pricing.

Deloitte Legal founder joins rival

23 August 2002

Paulo Sigaud, a former director of Deloitte Touche Tohmatsu International and the man responsible for the creation, development and administration of the Deloitte Touche Tohmatsu Legal Practices in Rio de Janeiro and São Paulo, has joined Felsberg, Pedretti, Mannrich e Aidar Advogados.

New faces at B&M in Mexico

23 August 2002

Baker & McKenzie (Mexico) has announced the addition of a new partner and two new associates in the corporate and banking & finance practices in its Mexico City and Monterrey offices.

Full programme at German/Mexican lawyers' congress

23 August 2002

A number of prominent lawyers will be speaking at the forthcoming Congress of the German Mexican Lawyers Association organised by Héctor Fix-Fierro, a professor of law at the Instituto de Investigaciones Jurídicas of UNAM (National Autonomous University of Mexico). The Congress will be held on September 12 and 13.

Things look rosy for Petrobras

16 August 2002

It’s been a very satisfactory month for Petrobras, Latin America’s largest corporation, which has received more good news following the announcement of its US$1.13 billion acquisition of Argentina’s Perez Companc group.

Largest debt restructuring in Argentina

16 August 2002

Pecom Energia SA, the operating subsidiary of Perez Companc SA, has commenced the restructuring of its debt, with a US$997.5 million bond exchange that was successfully completed on 1 August.

Birth of a Brazilian giant

16 August 2002

Braskem SA is the name of the giant new petrochemical company created on August 16 as a result of the incorporation of the chemical and petrochemical assets of the Odebrecht and Mariani investment groups.

Improving Mexico's gas infrastructure

16 August 2002

Gasoductos de Chihuahua (GDC) has put into action a plan to increase the transportation capacity of both GDC and its shareholder Pemex in the northern state of Chihuahua. This is to be done through two major compression stations.