On June 27 and 28 leaders from Mexico and six Central American countries, together with 1,350 representatives of the business and financial community, gathered in the Mexican resort of Mérida to discuss plans to give the region a more prominent role in the global economy by improving local infrastructure.
Chadbourne & Parke LLP has launched a new project finance workout and restructuring practice. The practice, which was announced on July 15, has already taken on several clients in Latin America
At two recent events in Madrid and London, the enormous difficulties involved in tackling the economic problems of Argentina and other Latin American countries were discussed.
Representatives of multilateral institutions, international experts and academics, and trade ministers and officials from Costa Rica, El Salvador, Guatemala, Honduras and Nicaragua took part last weekend in a roundtable at the Inter-American Development Bank in Washington DC. The meeting was on the prospects for a free trade agreement between Central America and the United States.
Former US Attorney for the Southern District of New York Mary Jo White has joined Debevoise & Plimpton, effective June 1.
Paul Yde and M J Moltenbrey have become partners of Freshfields Bruckhaus Deringer LLP and will launch a US antitrust practice in Washington DC. Joining them will be Alan Ryan, a competition partner who is relocating from the firm’s Brussels office.
Thomas Vega-Byrnes has left Winston & Strawn and has set up his own solo practice, Thomas Vega-Byrnes LLC. He will continue to work in international power projects and will build upon established relationships with commercial, government and multilateral lenders, equipment suppliers and contractors.
The Presidents of Panama, Costa Rica, Nicaragua, Guatemala, and El Salvador, along with the Vice-President of Honduras, have signed the text for a future Free Trade Agreement to cover all six countries. With the signing of the text, which took place on March 6 in Panama City with the President of Brazil as witness, the Central American countries intend to form a trade bloc of 30 million consumers.
South African Breweries plc has acquired a 97 per cent equity interest in Cervecería Hondureña SA, which it plans to combine with El Salvador Beverage Business, a family owned consortium. Cervecería Hondureña is the sole brewer and the largest soft drinks bottler in Honduras. The equity interest in CHSA was purchased from the Dole Food Company Inc. for a cash consideration of US$537 million on a debt free basis. The two deals make South African Breweries plc the largest brewer and bottler in Central America.
The program, a re-do of one done last year, was signed between CABEI and Barclays Bank PLC. It is designed to finance foreign trade operations in Central America and was effective as of November 21, 2000.