Market: Peru

Post-coronavirus wealth taxes could be a case of when, not if

The financial strain of the covid-19 pandemic has forced governments in Latin America to dig deep to cover costs. As a growing debt pile looms ever larger, some countries in the region are floating a tax on the wealthy to help foot the bill, one of several ways private wealth counsel in the region is evolving. Emily Darby reports on a practice area experiencing big changes.

29 June 2021

Chile’s BCI launches online payment venture, buys Pago Fácil

A slew of Chilean firms and a Peruvian outfit have helped US financial services group EVO Payments enter a tie-up with Chile’s Banco de Crédito e Inversiones (BCI), with the pair launching an online payment venture that includes fintech Pago Fácil.

24 June 2021

Peru clarifies approach to collective damages claims

Peru’s competition authority has published new guidance clarifying when it will pursue damages claims for classes of consumers who have been harmed by anticompetitive conduct.

14 June 2021

Garrigues and Miranda & Amado in Peruvian agribusiness loan

Peruvian sister companies Agrícola Chapí and Agrícola Olmos have relied on Garrigues (Peru) to get a US$60 million loan.

10 June 2021

Peru sanctions textbook cartel

Peru’s competition enforcer has hit several printing companies and their former employees with nearly US$7 million in fines after finding they allocated the market for textbook printing services and rigged bids for supply contracts tendered by the Ministry of Education.

07 June 2021

Pro Bono Project of the Year: Peru’s Masi ventilator

Featured in 15th Annual Awards

Latin Lawyer speaks to Rodrigo, Elías & Medrano Abogados partners Luis Carlos Rodrigo Prado, Carlos Carpio and Raúl Hidalgo about the firm’s advice on the development of crucial mechanical ventilator technology currently being used to save lives amid the covid-19 pandemic. The Masi ventilator initiative wins this year’s Pro Bono Project of the Year Award.

03 June 2021

Construction company agrees US$126 million settlement in Peru

Graña y Montero’s successor company has reached a plea deal with Peruvian authorities to resolve an investigation into corruption allegations stemming from Brazil’s Operation Car Wash.

27 May 2021

Rubio Leguía in Peruvian Coca-Coca bottler investment

Rubio Leguía Normand in Lima has helped Mexican beverage company Arca Continental buy US$78 million worth of shares in Peruvian counterpart Lindley through a tender offer on the Lima stock exchange.

26 May 2021

Deal of the Year Winner: Regulatory

Featured in 15th Annual Awards

A decision by Peru’s competition authority dismissed an unfair competition claim that had dogged Uber’s local entity for two years. In doing so, it established important criteria on the nature of transport intermediation applications under a sharing economy model. It wins the regulatory category of our Deal of the Year Awards.

25 May 2021

Deal of the Year Winner: Banking & Finance

Featured in 15th Annual Awards

When the covid-19 pandemic grounded the global travel industry, the subsequent financial strain caused Latin American aviation companies to drop off the radar one by one. Regional aviation group LATAM Airlines obtained a US$2.45 billion DIP financing from a group of international shareholders, creditors and lenders several months after the airline filed for Chapter 11 bankruptcy proceedings in New York in May 2020. This lifeline wins the banking & finance category of our Deal of the Year Awards.

24 May 2021

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