US satellite television company DirecTV Latin America LLC (DTVLA) has emerged from Chapter 11 proceedings after almost a year since it first filed for bankruptcy protection. The proceedings closed on February 24.
Project finance research company Dealogic ProjectWare has released its analysis of Latin American project finance in 2003. The report rates Milbank, Tweed, Hadley & McCloy LLP “the top legal adviser in the Latin American & Caribbean project finance market for a fifth consecutive year with eight deals worth US$1.44 billion”. The report was published on January 19.
The International Chamber of Commerce (ICC) has founded a group dedicated to the exchange of information and discussion of the most important problems surrounding arbitration in Latin America. Founding members of the Grupo Latinoamericano CCI de Arbitraje (ICC Latin American Arbitration Group) were invited to join on September 3, and first meeting will be held in Paris on August 25, 2004.
Beauty may be in the eye of the beholder, but good legal work should be more than skin deep. L’Oréal's associate general counsel Patrick Sabatier certainly thinks so.
The Royal Bank of Scotland Group (RBOS) has signed an agreement to sell the Miami-based Latin American private banking operations of the Coutts Group to Spain’s Banco Santander Central Hispano SA (BSCH) for a premium of US$75 million. The deal was announced on May 15.
In a multinational deal, British conglomerate Cadbury Schweppes plc has acquired 100 per cent of confectionery company Adams Food Inc from Pfizer Inc for US$4.2 billion. The deal was announced on December 17 and closed on March 30. It included significant Latin American assets in 16 countries in the region.
Law firm consultants Walker Clark LLC have continued the expansion of their Latin American services with the addition of Stella M Alliende as a consultant specialising in international client relations in the legal profession. She joined the firm on March 1.
International development organisation Corporación Andina De Fomento (CAF) has issued short-term notes to the value of €500 million (US$504 million) in the Spanish Fixed Income Market (Mercado AIAF de Renta Fija). The programme was cleared on November 15, and its term will expire a year from that date.
International accountancy and consulting company PricewaterhouseCoopers International (PW) has sold its management consulting business to International Business Machines (IBM), including all related assets in Latin America. The deal closed on October 1, and the purchase price was US$3.5 billion.
Australian food company Burns Philp and Co has bought the Latin American yeast and industrial bakery subsidiary of Kraft Foods International for US$110 million. The deal closed on October 31.