Posadas, Posadas & Vecino refreshed its image and shortened its name to Posadas in 2021. The firm puts forward a solid transactional offering that makes it a highly reputed player in Uruguay’s legal market. The full-service outfit picks up a considerable amount of the project finance work that is up for grabs, which is facilitated by a shrewd team of experienced finance lawyers. Its corporate and M&A group is also kept busy by foreign investors looking to snap up assets in Uruguay’s popular renewables, pharmaceuticals and retail industries. The highly sought-after corporate offering gives leading legal competitors a run for their money.
In 2020, the group maintained a busy schedule despite widespread market uncertainty. It captured a decent proportion of infrastructure work, some of which related to ongoing projects that had been put on hold during the covid-19 pandemic, although it kickstarted again once the economy began to recover in the second half of the year. During that time, the firm advised on several transactions related to the 273-kilometre railway project connecting Montevideo to a pulp mill being built by the Finnish forestry group UPM. Posadas assisted a number of European infrastructure groups in obtaining the concession for the project, while it also helped steer several financings for the same project. This is the type of deal that the firm sees through with close attention, a trait that wins ample client praise. Its personalised approach and in-depth consideration of client needs are cited frequently by companies that enlist this firm’s services.
This top-of-the-line firm has for years steered cross-border energy deals, and that expertise has come to the fore of recent as environmental projects and investments take off in Latin America. A renewed interest in wind, solar and hydroelectric assets has greatly benefited Uruguay’s pool of resources in that sector, as companies put a greater emphasis on making green investments. Posadas has reaped some of those rewards, helping a British investor snap up local wind assets last year.
Posadas continues to be a popular choice among international players looking to do business in Uruguay, which has given it an important place on relevant deals amid a period of notable economic slowdown. Returning clients appreciate that the outfit’s lawyers take the time out to respond to queries and commend the availability of partners at short notice.
‘Who Represents Latin America's Biggest Companies’, a study published by the Latin American Corporate Counsel Association, which is affiliated to Latin Lawyer, finds that Posadas is one of the most popular law firms among some of Latin America’s largest companies. In Uruguay, it ranked as the third most sought after firm during the pandemic, according to the same study. The firm’s banking prowess has rewarded it with an impressive list of multilateral and foreign banks among its client base. These include the Inter-American Development Bank, CAF, BBVA, BNP Paribas, Santander and BTG Pactual. Mastercard, AB InBev and forestry company Lumin are major corporate clients. Deutsche Bahn is a more recent client, and the firm has helped the group throughout the construction of UPM’s pulp mill.
The Uruguayan firm has an unusually even split between senior partners and associates, creating an equilibrium between high-quality services from experienced practitioners and creative solutions from young lawyers. Posadas has put its money behind leading-edge technology too, to ensure that it has all the tools to fend off competition. The group is selective in who it appoints, with a large proportion of its lawyers having received a top-tier legal education from a leading European or US institution.
Posadas has offices in Montevideo and the city’s free trade zone, Zonamerica. It also has an outpost in the high-end tourist spot of Punta del Este.