Cruzat, Ortúzar & Mackenna Ltda - Baker & McKenzie Santiago is advising Securitizadora Security SA in the first Chilean securitisation transaction backed with municipal incomes arising from concession contracts executed by the Municipality of Santiago. The transaction involves the issuance of securitised bonds.
Peruvian firm Muñiz, Forsyth, Ramirez, Perez-Taiman & Luna-Victoria reports, based on official Securities and Exchange Commission (CONASEV) statistics for the period August 2000/August 2001, that it has participated in the structuring of over 50 per cent of all issuances in Peruvian capital markets during that period.
The Brazilian Senate has approved a Bill introducing substantial amendments to Brazil's Corporation Law which in particular affect closely- and publicly-held companies.
Alfaro Abogados has started the process of building up its team following a recent split with the incorporation of tax expert Federico Martin Palavecino, formerly of the Buenos Aires office of Price Waterhouse Coopers. He joins a tax practice led by Lucio Fabani.
Brazilian firm Mattos Filho, Veiga Filho, Marrey Jr e Quiroga Advogados and Argentine firm Allende & Brea have advised UOL Inc SA (internet leader in Latin America) in the acquisition of Sinectis SA (the third-largest internet service provider in Argentina) and in the content and advertising agreement with America TV SA, the third-largest broadcasting network in Argentina, and its news cable channel, CVN.
Cravath Swaine & Moore and Prieto y Cía have acted as advisors to Electroandina International Inc, a Cayman Islands limited liability exempted company and a wholly-owned subsidiary of Electroandina SA. Electroandina SA is a Chilean corporation wholly owned by Belgium's Tractebel SA and the Chilean state-owned CODELCO.
Brigard & Urrutia Abogados has acted as lead transaction counsel for the financial and corporate restructuring of the US$170-million debt of a 400MW generation project in Colombia. The restructuring documents were executed in three stages and the process succesfully completed during the second week of September.
Skadden Arps Slate Meagher & Flom LLP and d’Empaire Reyna Bermúdez Abogados are advising The AES Corporation, a major independent global power company, and its subsidiary Corporación EDC CA in its US$1.37-billion tender offer of a controlling 43.2 per cent stake in Compañía Anónima Nacional Teléfonos de Venezuela (CANTV).
The province of Córdoba (Argentina's second-largest province) has initiated the privatisation of its governement-owned financial institution, Banco de Córdoba, the province's largest bank, through the sale of 89 per cent of shares in the bank. On August 31, the Province of Córdoba pre-awarded this controlling interest in the context of a public bidding to Banco General de Negocios SA (BGN), which made an offer of US$117 million.
Cruzat, Ortúzar & Mackenna Ltda - Baker & McKenzie Santiago has advised Inmobiliaria Las Verbenas SA (a subsidiary of Hipermercado Jumbo SA) in connection with a US$125-million syndicated loan.