Buenos Aires firm Abeledo Gottheil Abogados SC acted as Argentine legal counsel to Silica Networks Argentina SA in the drafting and negotiation of securities for a US$93.5 million loan granted to Silica by Nortel Networks Limited, as part of a global transaction in which Nortel lent US$110 million to the Argentine and Chilean subsidiaries of Silica Networks for its fibre-optic network telecommunications project. The global deal was described in the June 5 edition of Latin Lawyer Weekly Briefing.
During the past four months Negri, Teijeiro & Incera has advised Dumez GTM (Sucursal Argentina) on the Argentine legal and tax implications arising from an international tender offer made by the province of Buenos Aires to build eight prisons in its jurisdiction utilising a trust structure and a leasing.
Buenos Aires-based firm Pérez Alati, Grondona, Benites, Arntsen & Martínez de Hoz has advised the Province of Córdoba in Argentina in the privatisation of its lottery and casinos. The firm acted as legal counsel to the Province of Córdoba and to its financial advisors, Banco Santander Central Hispano and Société Générale.
Local law firm Severgnini, Robiola, Grinberg & Larrechea has advised Fitch Holding AG in the sale of Argentine rating agency Magister. Fitch sold its 50 per cent participation in the capital stock and votes of Magister/Backwatch Calificadora de Riesgo SA to local shareholders.
Cablevisión SA, the largest Multiple System Operator in Argentina, has undergone an internal shareholder reorganisation, as a result of which affiliates of Hicks, Muse, Tate & Furst Inc and Liberty Media Corporation now each control a 50 per cent equity stake in the company.
As an effective alternative to drawn-out court litigation, JM Huber Argentina SA was awarded around US$3.5 million in compensation and damages in an arbitration proceeding that had been instituted by Huber against Celulosa Argentina SA for breach of contract relating to a precipitated calcium carbonate (PCC) plant in Zarate.
Buenos Aires-based Marval, O’Farrell & Mairal has advised the lender in a US$110-million loan for the financing of a fibre-optic network.
The Buenos Aires branch of Bank of America NA, acting solely as financial trustee of Titán TGS 2001 Financial Trust, has issued US$200 million worth of Class A and Class B floating rate trust notes, due in 2006.
Eduardo Rodríguez-Rovira has been appointed managing partner for Uría & Menéndez in Buenos Aires. He will be based at the offices of Uría’s local alliance partner, Marval, O’Farrell & Mairal.
On May 22, Decree 677/2001 on Transparency and Better Practices in the Capital Markets (‘the Decree’) was issued, amending the public offering regime in Argentina.