News

American investors bet on Argentine agriculture

14 October 2002

US company Argentina Farmland Investors LLC (AFI), has acquired 100 per cent of the shares in PeCom Agropecuaria SA (PCA) from PeCom Energía SA (PES) and PeCom Energía Internacional SA (PEIS). AFI paid US$53 million for the shares, according to PeCom, making this transaction one of the largest cash-to-stock M&A deals closed in Argentina during 2002.

Plane-maker gets pre-election cash boost

14 October 2002

Despite market volatility in the run-up to the Brazilian presidential election, aircraft-maker Embraer has been able to secure a US$100 million loan at a cost of 8 per cent per year from Japanese trading house Mitsui. The loan was formally made on September 20.

Brazilians buy forest assets

14 October 2002

Aracruz Celulose SA (ACS) and Bahia Sul Celulose SA (BSC) have jointly acquired land and forest assets from Companhia Vale do Rio Doce (CVRD) for R$191 million (US$52 million). The companies finalised the 40,000-hectare deal on September 30.

ISA gets financing deal to set up transmission lines in Peru

14 October 2002

Interconexión Eléctrica ISA Perú SA (ISA Peru) has received US$18 million as the first disbursement of a loan from International Finance Corporation (IFC) and Nederlandse Financierings-Maatscha ppij voor Ontwikkelingslanden NV (FMO), to be used for the constuction and operation electricity transmission lines in Peru.

Gruppo Mossi buys PET company from Rhodia

14 October 2002

Italian chemicals company Gruppo Mossi & Ghisolfi (GMG) has acquired control of one of Brazil’s leading manufacturers of Polyethelene Terephthalate (PET), Rhodia-ster SA, from Rhodia Brasil Ltda. The deal closed on October 4 and was worth about US$21 million.

Baker group move to Sánchez

14 October 2002

Mexican firm Sánchez-DeVanny Eseverri, SC (SVE) has expanded its operations in Monterrey with the addition of 10 members of Baker & McKenzie (Mexico)’s office there. The group joined SVE on October 1.

'New globalism' leads Vial expansion in Miami, Ferrell in Santiago

14 October 2002

Chilean firm Vial Y Palma , Abogados has established a new presence located in the offices of firm Ferrell Schultz Carter Zumpano & Fertel, a Miami firm with 60 lawyers, while Ferrell has established a reciprocal office in Vial’s Santiago office. The offices, which both opened in September, consist of one partner who acts as “a portal for commerce between the two practices.”

New firm to offer 'quality services at a discount'

14 October 2002

In September Mexican firm Riveroll & Martínez Rueda Abogados SC (RYMR) moved into its new offices in San Angel, completing the first phase of its start-up. RYMR was set up on June 1 and had been renting offices in a business centre.

Banks risk legal action through involvement with Argentine Rohm brothers

04 October 2002

JP Morgan Chase & Co, Credit Suisse Group and Dresdner Bank AG are being sued by multiple Argentine plaintiffs for their association with a domestic bank that is alleged to have spirited away funds to the Virgin Islands.

TermoPe gets loan to build natural gas plant

04 October 2002

Termopernambuco SA (TermoPe), a power generator company in Brazil, has secured a US$202 million loan facility with the Inter-American Development Bank (IDB) and Banco Bilbao Vizcaya Argentaria, SA (BBVA).