News

Marval, O'Farrell & Mairal advise Banco de Crédito y Securitización on landmark first issue

27 April 2001

Buenos Aires firm Marval, O’Farrell & Mairal has advised BACS Banco de Crédito y Securitización SA, Argentina’s new secondary mortgage-market entity, on its first US$115.8 million issue of BACS Mortgage Bonds and Certificates of Participation by First Trust New York, National Association, Argentine Permanent Representation, on behalf of BACS I Mortgage Trust.

The new micro-financial system

27 April 2001

On March 22, 2001, Decree 37,164 on the creation of a ‘micro-financial system’ was published in the Official Gazette.

Machado Meyer and Xavier, Bernardes Bragança smoothe Brazilian mobile deal

27 April 2001

Telia and Grupo Algar have now finalised the sale of their substantial financial interests in Tess SA, a mobile operator in Brazil, to Telecom Americas. The transaction was announced in February and the parties signed the agreement in April. The purchase price is US$1.9 billion.

Levy & Salomão hires former general counsel of iron ore giant

27 April 2001

Pedro Mariani has become a partner of Levy & Salomão Advogados. He joins the team at the firm’s Rio de Janeiro office, where he will focus on capital markets, corporate and M&A matters.

Venezuela regulates domain names

27 April 2001

Decision 486 of the Cartagena Agreement Commission has strengthened the legal protection for well-known trademarks in the region. Article 233 now provides that unauthorised registration of a well-known trademark as a .com.ve domain name can be challenged by the rightful trademark owner. If registration is proved to be unauthorised, the competent national authorities can then cancel or modify the infringing domain name.

Vieira de Almeida advises Portuguese road company on Brazil deal

27 April 2001

Vieira de Almeida & Associados has advised Brisa, Portugal’s biggest road concession and a significant player in Europe, on a R$245 million (approximately US$115 million) investment in a 20 per cent equity stake of Companhia de Concessões Rodoviárias SA.

White & Case Mexico helps defeat antidumping charges

27 April 2001

The Mexico City office of White & Case has successfully defended a group of Brazilian and Spanish companies against anti-dumping charges brought against them in Mexico. The group included Brazilian companies Ansaldo-Coemsa SA and Trafo Equipamentos Eletricos SA, which both make high-power electrical transformers, and Elecnor SA, a Spanish construction company. During the investigation before the Mexican Ministry of Economy, White & Case also advised the government of Brazil.

Sullivan & Cromwell and Gómez Pinzón advise on World Bank guarantee

27 April 2001

The Republic of Colombia has issued a US$750-million aggregate principal amount of 9.75 per cent Amortizing Notes due 2011, partly guaranteed by the World Bank. The Bank took advice throughout negotiations on the transaction from Sullivan & Cromwell and in Colombia from Gómez Pinzón & Associados.

Brazilian pension funds face new rules

20 April 2001

The Brazilian Monetary Council (CMN) has approved the new rules governing investment of resources by Private Pension Funds (Entidades Fechadas de Previdência Privada), in the form of Resolution 2829.

Mattos Filho advises on friendly take over

20 April 2001

Banco Santander Central Hispano recently concluded an OPA (public acquisition offering) for shares of Banco Banespa SA, a Brazilian bank in which the Spanish group acquired a controlling interest late last year, advised by Mattos Filho, Veiga Filho, Marrey Jr e Quiroga Advogados