Perez Alati, Grondona, Benites, Arntsen & Martínez de Hoz represented TotalFinaElf in a transaction aimed at the acquisition of Gener's power generation and transmission assets in Argentina, the largest acquisition transaction in Argentina so far this year.
On May 8, 2001 the shareholders meeting of SA Alba approved the merger of said company with Grandes Pinturerias del Centro SA
As it has been announced in the past few months and with the main purpose of revitalising the Santiago stock exchange, Chile is currently in the process of eliminating some of the major tax-related hurdles to foreign portfolio investments in its securities market.
Hughes Hubbard & Reed, LLP and local firm Souza Cescon, Avedissian, Barrieu e Flesch-Advogados, among others, have successfully finished working on the issue of $100 million US Commercial Paper Program for Banco Santander Brasil SA, through its Grand Cayman Branch.
On the 22nd May a project financing transaction was closed in Brazil, by Polibrasil Resinas SA, a company jointly owned (indirectly) by Companhia Suzano de Papel e Celulose and Basell (a BASF and Shell company).
Colombian firm Figueroa Sierra & Asociados Abogados has strengthened its corporate law services through the inclusion of Luis Fernando Sarmiento Salcedo, as internal consultant.
A new bill has been submitted to the Senate in order to amend the rules of the multiple vote. The multiple vote is the instrument provided for in the current Companies Act entitling minority shareholders with voting rights to elect a company’s board members.
The Superintendency of Companies recently changed a 10 year doctrine pursuant to which companies under liquidation procedures could not become subject to mergers or split-offs, since these transactions would fall outside the scope of the relevant company's corporate purpose which, while the company is being liquidated, is limited to carrying out activities tending to the company's liquidation.
Enron is taking the Republic of Argentina to the International Center for Settlement of Investment Disputes (ICSID) of the World Bank.
Guerrero, Olivos, Novoa y Errázuriz represented HQI Transelec Chile SA, the largest Chilean electricity transmission company, in the offering of fixed-rate bonds.