Guerrero, Olivos, Novoa y Errázuriz represented HQI Transelec Chile SA, the largest Chilean electricity transmission company, in the offering of fixed-rate bonds.
Davis Polk, Skadden and Sullivan & Cromwell's beat off the competition to advise the two sides in historic deal for the Mexican banking industry.
Bruchou, Fernandez Madero, Lombardi & Mitrani has acted as sole counsel to the engineering multinational Techint in the setting up of an e-procurement marketplace named Exiros, and is continuing to assist Techint in management matters.
Under the local Foreign Exchange Statute, Colombian residents are generally required to channel exchange transactions through the authorised exchange market intermediaries (financial institutions and exchange houses), and are subject to certain restrictions applying in regard to the payment of expenditures abroad (ordinary exchange rules).
After six years of deliberation by the Brazilian Federal Supreme Court, the Arbitration Law (Law No. 9,307 of September 23, 1996) is now at least half-way to being approved. Though the decision is still to be finalised, a majority of Supreme Court Justices had voted in favour of the Law by May 3, 2001, making its enactment a virtual certainty.
Buenos Aires firm M & M Bomchil has helped the large French distribution group Carrefour to buy a substantial part of Supermercados Norte SA, the largest supermarket chain in Argentina. Until the acquisition, Supermercados Norte had been part of the Exxel Group. The transaction leaves Carrefour with sole control of Supermercados Norte SA and its subsidiaries, including Tía and Casa Lozano.
Sancor CUL and Arla Foods, the leading dairy cooperatives in Argentina and Denmark respectively, are forming a joint venture to produce whey-based foods in Córdoba, Argentina. Once the plant is operating it will be the largest whey plant in Latin America. The project is being financed by Rabobank of the Netherlands and Germany’s DEG Bank.
A recent study rates Bolivia as the second-largest natural gas producer in South America, behind Venezuela. The country’s proven reserves for the year 2001 total around 46.8 trillion cubic feet (tcf). Of this, 7.9 tcf is destined for the Brazilian market, 1.2 tcf for the Cuiaba Power Plant Project and 1.2 tcf for domestic consumption. Some 36.3 tcf is therefore still available for distribution.
Brazilian corporate law firm Felsberg e Associados has merged with the law offices of Carlos Miguel Aidar, to become Felsberg, Pedretti, Mannrich e Aidar Advogados.
Hughes Hubbard & Reed LLP has just helped Primer Banco Del Istmo, the largest bank in Panama, with an issue of US notes.