Press Releases

Carey and DLA Piper guide LarraínVial pharma buy Lily Squires 02 June 2023 Carey has helped Chilean investor LarraínVial buy local pharmacy chain Farmacias Ahumada from Wallgreens Boots Alliance, a US-UK holding company that invests in the pharmaceutical sector. The seller and target relied on DLA Piper (Chile). The deal was signed on 16 May for an undisclosed amount ...

Codelco raises US$900 million in debt tap Elliott Hodgkin 09 February 2023 Cleary Gottlieb Steen & Hamilton LLP in New York and Carey in Santiago have helped Chilean copper company Codelco issue US$900 million worth of notes. Linklaters in New York and London and Garrigues (Chile) represented the underwriters for the deal, which closed on 2 February. The debt was issued with a 5.125% interest rate and a maturity date of 2033 ...

AES Andes and Codelco ink renewables PPA in Chile Elliott Hodgkin 27 January 2023 Claro & Cía has helped Santiago-headquartered energy group AES Andes sign a power purchase agreement (PPA) with state-owned mining giant Codelco for the supply of renewable energy to two local mines. Carey advised Codelco on the deal, which was signed on 30 December for a confidential amount ...

Canadian pension fund eyes public takeover of Chile’s Hortifrut Elliott Hodgkin 11 January 2023 Linklaters in New York, Carey in Santiago and Rodrigo, Elías & Medrano Abogados in Lima have helped Canadian pension fund manager PSP Investments launch a tender offer to buy the entire public shareholding of Chilean fruit company Hortifrut for US$660 million ...

Several firms steer cross-border data centre buy Lily Squires 03 January 2023 Four Vinson & Elkins LLP offices, Brazilian firm Stocche Forbes Advogados, Colombia's Posse Herrera Ruiz, Mijares, Angoitia, Córtes y Fuentes SC in Mexico City and Uruguay's Posadas have helped data centre operator Aligned acquire Latin American-focused counterpart ODATA from Brazil’s Patria Investimentos and US IT company CyrusOne ...

Enel sells Chilean transmission business for US$1.4 billion Lily Squires 22 December 2022 Arteaga Gorziglia in Santiago has helped Chile’s Sociedad Transmisora Metropolitana (STM) acquire the local electricity transmission subsidiary of Italian energy giant Enel for US$1.4 billion. Carey in Santiago advised the seller in the divestment of Enel Transmisión Chile. STM carried out a public offer for its acquisition of a 99% equity stake in Enel Chile’s transmission business ...

LatAm firms help UPS seal Bomi acquisition Davide Montagner 22 December 2022 A slew of international and Latin American firms have helped US delivery company UPS finalise its acquisition of Italian healthcare logistics group Bomi ...

Chilean firms lead fintech investment round Elliott Hodgkin 15 December 2022 Carey has helped Chilean fintech Kredito raise capital through an investment round led by Santiago-headquartered conglomerate Grupo Penta. Alcaíno Abogados advised Penta and its banking subsidiary Penta Financiero, which also participated in the funding round ...

Mexico’s Axo grows LatAm presence with retail acquisition Elliott Hodgkin 08 December 2022 Mexican retailer Grupo Axo has enlisted Carey in Santiago, Mexican firms Creel, García-Cuéllar, Aiza y Enríquez SC and SMPS Legal, Peru's Rebaza, Alcázar & De Las Casas in Lima and Guyer & Regules in Montevideo to acquire Chilean clothing company Komax. SMPS Legal advised Axo only on tax matters in the deal ...

Colbún and Codelco renegotiate PPA in Chile Elliott Hodgkin 22 November 2022 Barros & Errázuriz Abogados has helped Chilean power company Colbún renegotiate its power purchase agreement (PPA) with state-owned copper miner Codelco. Codelco turned to Carey for the deal, which was signed on 27 October for an undisclosed amount. Colbún has agreed to gradually phase out the coal-based energy it provides to Codelco by the end of 2025 and replace it with emissions-free power ...

Chilean solar group signs PPA with Enel Lily Squires 16 November 2022 Carey has helped Madrid-based renewables company Grupo Fotones sign a power purchase agreement (PPA) with the Chilean branch of Italy’s Enel. The Italian energy group relied on its in-house legal team for the deal, which was signed on 27 October. The value of the deal was not disclosed. Through the agreement, Enel will purchase power generated from Fotones’ Libertad solar project in Chile’s desert region of Atacama ...

LATAM completes Chapter 11 Lily Squires 09 November 2022 A slew of US and Latin American firms have helped LATAM Airlines exit from its Chapter 11 proceedings, putting an end to a landmark cross-border restructuring that began over two years ago ...

Brookfield acquires majority stake in Chilean solar power group Lily Squires The renewable energy branch of Canadian asset management fund Brookfield has turned to Carey to acquire a majority stake in Chilean solar project company Solarity. Prieto advised the seller, Chilean energy-focused holding company Light E, while the Solarity’s co-founders, Horacio Melo and José Luis Carvallo, enlisted Echeverría Ilharreborde Scagliotti. The deal closed on 17 March for an undisclosed amount ...

Chile’s oEnergy gets financing for solar plants Lily Squires Chilean renewables group oEnergy has hired Greenberg Traurig LLP in New York and Guerrero Olivos in Santiago to obtain financing from Corporación Interamericana para el Financiamiento de Infraestructura (CIFI) to develop solar projects. The lender turned to Clifford Chance LLP in Washington, DC and Chilean firm Carey. The deal closed on 11 March ...

Several firms help Chile’s GNL Quintero get new owners Fredrik Karlsson Two White & Case LLP offices, Linklaters in New York and Brussels and Chilean firms Guerrero Olivos and Barros & Errázuriz Abogados have advised on EIG and Fluxys’ joint acquisition of GNL Quintero – the largest liquefied natural gas (LNG) regasification terminal in Chile ...

Equinix acquires four Entel data centres in Chile and Peru Lily Squires Chile’s largest telecoms company Entel has turned to Claro & Cía in Santiago to sell four data centres in Chile and Peru for US$705 million to US internet services and data centre group Equinix. Equinix hired Carey in Santiago and Rebaza, Alcázar & De Las Casas in Lima. Latin Lawyer understands that the buyer also hired Davis Polk & Wardwell LLP, but this could not be confirmed before publishing ...

Cross-border agribusiness investment calls on LatAm firms Emily Darby US agribusiness Continental Grain has hired Carey in Santiago, Mexico’s Creel, García-Cuéllar, Aiza y Enríquez SC and Rodrigo, Elías & Medrano Abogados in Lima to complete a cross-border investment in Chilean counterpart Agroberries, snapping up a stake in several of that company’s Latin American farming assets ...

Milbank, Clifford Chance, Carey and Claro in inaugural green bond Lily Squires Milbank in New York and Carey in Santiago have helped Chilean electricity company Sociedad de Transmisión Austral (STA) issue its first green bonds, raising US$390 million. The bookrunners hired Clifford Chance LLP in New York and Claro & Cía in Santiago. The bonds carry a 4% coupon and mature in 2032. The offering closed on 14 January ...

DLA Piper, Clifford Chance and Carey guide Chilean renewables buy Lily Squires Canada’s Innergex Renewable Energy has hired DLA Piper LLP in London and Santiago to acquire Chilean energy group Aela and its portfolio of wind farms from UK investment fund Actis and Irish business Mainstream Renewable Power, a deal worth US$686 million. The sellers turned to Clifford Chance LLP in London and Carey in Santiago ...

BlackRock acquires Chilean solar assets for US$200 million Lily Squires The world’s largest asset manager BlackRock has hired Milbank in New York and Carey in Santiago to acquire multiple solar plants in the Andean country for US$200 million in total. BlackRock bought the assets across two deals, both of which were made public on 26 January. In the first transaction, Milbank and Carey helped BlackRock buy 18 solar plants from a Chilean investment fund ...

Carey announced the extension of paternity leave for all fathers of newborn children for a period of up to 30 days, significantly longer than the five working days established by law. The measure seeks to encourage parental co-responsibility and contribute to balancing the roles of men and women in society. As of today, all fathers will be able to use this benefit continuously starting from the birth of their child, receiving their full salary ...

América Móvil and Liberty combine Chilean operations Lily Squires Mexican telecommunications company América Móvil has enlisted three offices of Freshfields Bruckhaus Deringer LLP and Cariola, Díez, Pérez-Cotapos in Santiago to enter into a joint venture agreement with Liberty Latin America to combine their respective Chilean operations, Claro Chile and VTR ...

Chilean company gets acquisition financing for Colbún assets Davide Montagner Chilean renewables company Alfa Desarrollo has relied on several White & Case LLP offices to raise US$1.1 billion in a debt issuance, the proceeds of which it will use to fund its purchase of assets from Colbún Transmisión. Carey in Santiago advised Celeo Redes, the issuer’s minority shareholder and a developer of electricity transmission projects in Latin America ...

BCI gets green light to launch in Peru Emily Darby Chile’s BCI has enlisted Rebaza, Alcázar & De Las Casas in Lima to help it obtain regulatory approval for the incorporation of its Peruvian finance subsidiary, which brings the Chilean bank one step closer to launching operations in Peru next year. Rebaza Alcázar also advised BCI in its role as shareholder of the new bank. The other stakeholder, Chilean asset management group Empresas JY, turned to Carey in Santiago ...

Chilean renewables company Alfa Desarrollo has relied on several White & Case LLP offices to raise US$1.1 billion in a debt issuance, the proceeds of which it will use to fund its purchase of assets from Colbún Transmisión. Carey in Santiago advised Celeo Redes, the issuer’s minority shareholder and a developer of electricity transmission projects in Latin America. Shearman & Sterling LLP in New York and Chilean firm Claro & Cía represented the initial purchasers, led by JP Morgan ...