Posadas provides clients with a rock-solid transactional offering, making 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 team of experienced finance lawyers. Its corporate and M&A group is also active in helping foreign investors snap up assets in Uruguay’s popular renewables, fintech and retail sectors. The highly sought-after corporate offering gives leading legal competitors a run for their money.
Despite a recent slowdown in market activity, the firm has been busy advising on some of the country’s big-ticket deals in the past two years. It featured in 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 several European infrastructure groups in obtaining the concession for the project, while it also helped steer several financings for the same project.
For years, this group has overseen cross-border energy deals, and that expertise has come to the fore recently as environmental projects and investments take off in Latin America. A renewed interest in wind, solar and hydroelectric assets has benefited Uruguay’s pool of resources in the environment sector, as companies put a greater emphasis on making green investments. Renewables group Cubico is a recent client.
Posadas remains a popular choice among international players looking to do business in Uruguay, which has given it a prominent place in relevant deals. Clients appreciate the ease of access to and availability of key partners and associates, as well as the firm’s high quality of work.
According to “Who Represents Latin America’s Biggest Companies”, a study published by the Latin American Corporate Counsel Association, which is affiliated to Latin Lawyer, Posadas is the fourth most sought-after firm in Uruguay among some of Latin America’s largest companies. The firm’s banking prowess has rewarded it with an impressive list of multilateral and foreign banks among its clients. These include IDB Invest, Sumitomo Mitsui, BBVA, BNP Paribas, Santander and BTG Pactual. ArcelorMittal, Ambev and Lojas Americanas are major regional corporate clients.
The firm has an astonishingly even split between senior partners and associates, creating a balance between high-quality services from experienced practitioners and creative solutions from young lawyers. The group is selective in who it appoints, with a sizeable proportion of its lawyers having received a top-tier legal education from a leading European or US institutions.
Posadas has offices in Montevideo and the city’s free trade zone, Zonamerica. The firm has a 14-person team based at its outpost in the tourist hot spot of Punta del Este.