News

Prieto y Cía assists in purchase of Chilean salt mining group

14 September 2001

Chilean firm Prieto y Cía has represented a group of Chilean investors, in

Pérez Alati represents lead arrangers in US$65 million commercial paper programme

14 September 2001

A team of US and Argentine firms have finalised a US$65-million letter of credit-backed US commercial paper programme for Banco BI Creditanstalt SA. The deal was closed on September 4. The Argentine bank is 50 per cent owned by Bank Austria AG. Barclays Bank PLC, Miami agency, participated as letter of credit issuing bank and lead arranger, and Barclays Bank PLC, New York branch as administrative agent.

IIC approves loan to Publicidad Sarmiento and its Chilean affiliate

14 September 2001

The board of directors of the Inter-American Investment Corporation (IIC) has approved a loan of up to US$6.5 million to Argentine company Publicidad Sarmiento SA and Grupo Sarmiento SA (GSSA), its Chilean affiliate. The project covers the start-up of GSSA's activities in Chile, the expansion of Publicidad Sarmiento's activities in Argentina, and information systems investments.

Estudio Rubio, Leguía Normand renegotiates Daewoo loan

14 September 2001

Peruvian firm Estudio Rubio, Leguía, Normand & Asociados has represented the Export-Import Bank of Korea in the renegotiation of a US$5 million loan granted to Financiera Daewoo SA, which closed on July 10.

Veirano Advogados and Grupo Legal Português announce strategic alliance

14 September 2001

Brazilian firm Veirano Advogados and Grupo Legal Português of Portugal have entered into a strategic alliance in which both sides will keep their identity and independence. The alliance, effective September 1, is an exclusive relationship barring conflicts of interests or client preference. Senior partner Ronaldo C. Veirano said the two firms will cooperate in the Brazilian and Portuguese markets in order to better serve the growing legal needs of their Portuguese clients investing in Brazil and vice versa. He said that the alliance also aims to give both firms greater penetration into the markets of Europe and South America.

Five new partners at Guerrero, Olivos, Novoa y Errázuriz

14 September 2001

Chilean firm Guerrero, Olivos, Novoa y Errázuriz, known for its finance practice, has appointed five new partners, bringing the total number to 11. The five are the first partners the firm has nominated since 1996.

New law offers investment opportunities in export zones

14 September 2001

Colombian Government on August 4, creates special economic zones dedicated to export activity within the border districts of Buenaventura, Cúcuta, Valledupar and Ipiales and their metropolitan areas. The Government is empowered to regulate the new law and to extend special zone status to other border areas.

New measures to curb energy crisis in Brazil

14 September 2001

Three months after electricity rationing began in Brazil, the Government has taken new measures to further reduce the risk of energy cuts and to increase available supply.

Compulsory sale of shares 'unconstitutional'

14 September 2001

Colombia's Superintendency of Companies has issued an opinion that may affect clauses contained in the by-laws of Colombian companies or in shareholders agreements. They relate to remedies that other shareholders or partners may have recourse to in the event of a breach by another shareholder or partner of its obligations, such as dilution or mandatory transfer clauses.

Demarest e Almeida and Levy & Salomão Advogados help in Chinese-Brazilian JV

07 September 2001

Cia Vale do Rio Doce (CVRD), the world’s largest iron ore producer and exporter, has entered into a (50/50) mining joint venture with Shanghai Baosteel Group Corporation (SBGC), one of the world's largest integrated steel producers.