Peru - Corporate/M&A Lawyers & Law Firms - Latin America - Chambers and Partners
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Latin-America Guide

Corporate/M&A — Peru

Overview

PERU: An Introduction to Corporate/M&A Contributed by Miranda & Amado Abogados

The Peruvian Central Bank has reduced its forecast 2017 growth rates for almost all sectors, except for the fishing sector (Diario Gestión Monday 19 July 2017), as internal consumption rates, manufacturing rates and exports are falling. Also, the current political situation is a complex one. The current president, Mr. Pedro Pablo Kuzcinski, narrowly beat the second candidate, Ms. Fujimori, to the presidency, but she won a strong majority in Congress (73 out of 130), while the President's party won just 18. In less than a year of government, that opposing majority is making itself noticed. So far, three ministers have been forced to leave the government over purely political issues, forcing the government into inaction and without promise of this conflict ending in the short term. New mining and large infrastructure projects, which tend to be larger and therefore generate billions of dollars per project, have been slow to evolve. Many existing projects are owned by Brazilian companies, which are themselves in their own crisis as they have been hit by corruption scandals, and are on hold while they are sold to new parties that will pull them through. In addition, a strong El Niño phenomenon affected the Peruvian coast during the summer, taking a further toll on productivity and growth.

In this context, Peruvian corporations are facing many challenges:

• Lower demand for Peruvian exports directly affect exporting companies and indirectly impact a long line of service and product suppliers.

• The El Niño phenomenon has affected thousands of hectares of export-oriented crops, adding to the already difficult situation, leaving some exporters with even fewer sales and in need of capital.

• As consumer demand and confidence are down, retail-oriented businesses have suffered, making these companies look into reducing costs and seeking efficiencies.

• Demand for new housing has lowered and is affecting the development of new construction projects. These have had different impacts on Peruvian companies and the incoming of new foreign investment:

• As mentioned before, 2016 and 2017 have not seen any new large infrastructure projects, even though there are many in the pipeline, and many existing ones have been delayed if not completely paralysed.

• The retail sector has been affected by less consumption and lower consumer confidence.

• The residential and commercial construction sector have likewise been affected by lower consumption and a reduction in demand for new homes and new store and office space.

• In the financial sector, issuance of new corporate debt has seen a reduction and has focused on refinancing of obligations. Specifically in microfinance, levels of default are growing and are driving microfinance companies to seek new capital and focus on being more efficient.

• The only exception this year appears to be the fishing sector which, after many years of poor performance, is having a better year so far.

As a result of the above, the expectations on growth for the Peruvian economy are being lowered every day. The current context generates pressure on firms to reduce costs, find ways to be more efficient and at the same time improve their market positions. Still many businesses believe that this is a temporary phase and the long-term opportunities are good. Additionally, mid-sized and large businesses are not limiting their focus to Peru, and have redefined their markets of scope to include other Latin American countries, most frequently the countries of the Pacific Alliance.

On one hand, companies are cutting down on legal costs, at least those related to their day-to-day operations, and are demanding more from their internal legal teams. Firms are also taking more time to process and pay for all services.

But on the other hand, firms are forced to decide on what strategies to follow. Some owners of family-owned firms decide it is time to sell, others decide it is time to open up capital and look for investors (almost always in private capital, as IPOs are still unpopular) or enter into joint ventures with parties that can add value, in order to grow and increase market share, with the additional challenge for many being that their "market" is no longer limited by the political boundaries of the Peruvian economy, but is defined by the dynamics of the firms competing at a regional level.

Law firms and their corporate and M&A practices are no exception to the challenges facing clients. Law firms must also look for ways to be more efficient. They have to adjust to their clients' strategies for dealing with economic pressure and competition; however, in dealing with these challenges, there is a need for legal services. Companies are refinancing their obligations, and are rising up to the challenges of taking in investors or forming alliances with third parties, which was not common for Peruvian businesses. Peruvian companies looking to sell are having a bit more difficulty than a few years before, but in every business there is an array of private equity funds and operators wanting to invest or expand, and that keeps sale processes competitive.

At least until now, it appears that the economic downturn is affecting many businesses and conditioning their short-term view and their business strategies for the medium- and long-term. While some may have a pessimistic view which may result in the sale of their business, others may combine a realistic view of the present with a positive view for the future, and adopt strategies which will further their business. Unlike a few years ago, however, by now most businesses know that a longer-term strategy has to be supported by the help of new equity and not debt alone. This alone is a change in character among Peruvian businesses.

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Miranda & Amado Abogados - Corporate/M&A Department

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Band 1

第一等

Chambers Commentary (based on the Chambers research)

Basic facts about the department
- Head of department: Bruno Amiel
- 6 partners
- 20 other qualified lawyers

What the team is known for Revered corporate powerhouse with an impressive track record in sophisticated transactions. Boasts a diverse client roster including international and domestic financial entities and investment funds, as well as corporations from a range of sectors such as energy and natural resources, construction, telecoms and retail. Expertise encompasses cross-border M&A deals, joint ventures, corporate reorganisations and related disputes. Boosted by the firm's strength in other practice areas, such as tax, labour and banking and finance.

Strengths Clients greatly appreciate the service offered by the firm in this area, saying: "The firm is excellent and provides impeccable work in all areas, especially in corporate and M&A matters. The main strengths of the lawyers are that they respond in a timely manner and seek alternative solutions for the client."

Another enthuses: "The key strengths of the team are the excellence of the individual lawyers, the diversity of the topics on which they can advise and their ability to work well as a team, even when another firm is involved in the transaction. They are highly committed to their clients and provide accurate and honest advice."

Work highlights Assisted Vinci with the USD1.6 billion acquisition of the Línea Amarilla toll road from Invepar.

Counselled Duke Energy on the local aspects of its USD1.2 billion sale of assets across Peru, Chile, Argentina, Guatemala, El Salvador and Ecuador to I Squared Capital.

Significant clients Grupo Romero, Grupo Gloria, Grupo San Fernando, Grupo Sandoval, Telefónica del Perú.

Notable practitioners

Experienced practitioner Roberto MacLean is recognised by market commentators for his knowledge of corporate mandates. One highlights his activity advising on cross-border transactions, going on to note: "He is a great problem solver, with an impressive thought process and fantastic people skills, particularly in relation to his management of the communication with the counterpart."

Luis Miranda has noteworthy expertise assisting clients with a range of high-profile domestic and cross-border mandates. Clients highlight him as "an excellent professional, with clear understanding of our matters. He is also very responsive and deeply involved in the transaction – he is really great." Others go on to single him out for his "fantastic knowledge of tactics related to M&A deals."

José Daniel Amado is well regarded by clients, who say: "He gives very good advice during negotiations and is able to anticipate the other party's moves in advance." Alongside his strength in corporate and M&A matters, he has additional knowledge of dispute resolution, with arbitration being a particular focus.

Nathalie Paredes is praised by market commentators, who agree that she is "a great lawyer." Others continue: "She is very good at negotiating, always looking to find solutions – I have a great impression of her."

Department head Bruno Amiel garners extensive praise from clients for his corporate practice, with one declaring: "He is extremely intelligent, experienced and creative, as well as being a great negotiator"

About the Team (content provided by Miranda & Amado Abogados)

The firm is consistently involved in the market’s biggest, most sophisticated and innovative M&A deals. During 2015, 2016 and 2017, the firm advised on around 40 high-end and/or complex M&A deals with a total value of around 5 billion, including all the market’s headline deals. Other matters include high-end JVs, corporate reorganisations, strategic contracts, structuring and implementing real estate investments, solving complex problems and creating complex corporate structures. The firm is highly active in cross-border deals and stands out for its experience as lead counsel coordinating regional cross-border M&A.

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Payet, Rey, Cauvi, Pérez Abogados - Corporate/M&A Department

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Band 1

第一等

Chambers Commentary (based on the Chambers research)

Basic facts about the department
- Heads of department: Susan Castillo and José Antonio Payet
- 8 partners
- 32 other qualified lawyers

What the team is known for Top-tier practice group with standout abilities across the spectrum of advisory and transactional corporate and M&A matters. Cross-border transactions are an area of particular strength for the team, with further knowledge of post-transaction restructuring. Regularly retained by domestic and international clients from the manufacturing, energy, telecoms and food and beverage sectors. Also well versed in assisting private equity firms, pension funds and other financial entities with corporate financing and restructuring.

Strengths Clients assert that the firm has strength in complex corporate matters, with one affirming: "Payet, Rey, Cauvi, Pérez Abogados is a high-quality law firm. The lawyers have the ability to successfully manage very delicate mandates, as well as technically analysing topics and finding the most balanced way to proceed."

Others go on to acclaim: "The lawyers handle very sophisticated matters, providing an outstanding service, with a practical and multidisciplinary approach and in-depth legal analysis. They also acknowledge the context and provide complete legal responses, factoring in the extralegal circumstances."

Work highlights Represented Repsol in the sale of its LPG operations in Peru and Ecuador to Abastible. The total amount of the transaction was USD335 million.

Advised América Móvil Perú on its purchase of Olo del Perú, Cablevisión and Velatel.

Significant clients The Carlyle Group, Amcor, Ganadera Santa Elena, Continental Grain, Avinka.

Notable practitioners

"Truly outstanding" co-head of department José Antonio Payet is well regarded within the corporate arena, with clients commending him for his "high degree of knowledge in this field, as well as his capacity to clearly explain complex legal matters." They go on to acknowledge his creativity when structuring solutions, as well as his abilities in sophisticated transactions, asserting: "His advice and assistance is impeccable." He is well versed in cross-border transactions.

Clients are quick to single out Juan Antonio Egüez, stating: "He has experience in a variety of transactions and is creative and flexible. He can identify which issues to prioritise, without losing sight of the important details." Others go on to remark that "he produces excellent work, with a practical understanding of deals." He has particular expertise in the financing elements of M&A.

Practice co-head Susan Castillo is well regarded by market sources, who comment that she is "a good, detail-oriented practitioner." She is additionally appreciated by clients for her "ability to explain legal complexities to clients and her in-depth knowledge of this field."

José Cúneo is well regarded for his practice within the corporate market, with interviewees considering him to be "a good M&A lawyer." They additionally mention his experience in corporate financings, with sector expertise in energy and natural resources matters.

About the Team (content provided by Payet, Rey, Cauvi, Pérez Abogados)

Our practice in corporate law, cornerstone in the development of the firm, houses a group of recognized experts in advising each and every phase of a corporation’s development.

Payet, Rey, Cauvi, Pérez Abogados’ attorneys regularly advise on the implementation and organization of corporate vehicles (incorporation procedures, corporate organization in general and corporate governance) and in the execution of its commercial activities (civil and commercial aspects in general), accompanying our clients in their most important processes and transactions (mergers and acquisitions) as well as in their most critical phases (asset restructuring).

Our frequent participation in the market’s most relevant transnational and cross-border transactions in the fields of mergers and acquisitions, spin-offs, transfer of assets, takeovers, among others, provides us with the knowledge and experience necessary to offer our clients the best possible and innovative solutions, from a commercial, tax and regulatory viewpoint, with international standards of quality.

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Rebaza, Alcázar & De Las Casas - Corporate/M&A Department

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Band 1

第一等

Chambers Commentary (based on the Chambers research)

Basic facts about the department
- Head of department: Alberto Rebaza
- 8 partners
- 18 other qualified lawyers

What the team is known for Heavyweight corporate practice with extensive expertise advising on complex transactions. Boasts an impressively deep bench of experienced practitioners with strength in domestic and cross-border M&A deals, joint ventures and minority equity investments, as well as general corporate mandates. Assists high-profile multinational companies from a wide variety of sectors, including energy and natural resources, financial services and manufacturing. Also very active advising private equity and venture capital firms and funds.

Strengths A client remarks: "When picking legal counsel, I look for the following characteristics: excellence in their analysis, proactivity, flexibility on schedules, responsiveness, completion of matters in short timings and creative solutions. The team have exceeded all my expectations and requirements. All team members complement each other perfectly and are always available for our needs. The have a real 'can-do' attitude."

Other clients are full of praise for the firm's in this practice area. One says: "The team's performance always surpasses expectations – the lawyers are professional, with legal and financial proficiency, attention to detail and creativity."

Work highlights Acted for Glencore on its USD26 million purchase of Nyrstar’s Contonga mine in Peru.

Assisted Compañía Minera Milpo with the USD250 million metal purchase agreement related to silver from Milpo's Cerro Lindo mine. Within the agreement, Milpo UK acts as seller, Triple Flag Mining Finance Bermuda as buyer and the client as co-obligor.

Significant clients Grupo Wiese, AmBev, Grupo Dyer, Statkraft Perú, Educas International.

Notable practitioners

Department head Alberto Rebaza has a strong practice focus on corporate and M&A matters. Interviewees hold him in high esteem, with one claiming: "He is a leader and an excellent lawyer in this field." Clients additionally note: "He has superior knowledge and his experience in M&A transactions is an invaluable asset in these types of deals. He is also a hard negotiator and having him on my side of the table gives me peace of mind."

Respected practitioner Felipe Boisset is valued by clients for his "experience and tact, which really help to push a deal forward and reach an agreement." Another client praises his "ample knowledge and good ability in negotiations." His practice spans the full range of corporate and M&A matters.

Juan José Cárdenas is recognised for his expertise in corporate financing. He is regularly retained by both international and domestic clients to assist with M&A deals and is appreciated by market sources for his "attention to detail, creative approach and legal knowledge."

Alexandra Orbezo is a recognised player in the corporate market and is described by clients as a "highly organised and efficient lawyer that gives very complete advice, having analysed all the important aspects involved in a transaction."

Up-and-coming partner Luis Miguel Elías is highlighted by sources for his "expertise and proactivity." Another interviewee remarks: "He deals with complex issues in a very practical way, providing solutions at all times, rather than creating obstacles."

Up-and-coming partner Daniel Gonzáles is acknowledged by clients for his "intelligence and commitment." Another goes on to say: "He is very good; he delivers work on time, offers solutions and gets involved."

About the Team (content provided by Rebaza, Alcázar & De Las Casas)

Recent highlights include advising: Glencore in the acquisition of a controlling stake in Volcan Compañía Minera; shareholders of Corporación Pecsa in the sale of a majority stake in Corporación Pecsa in favor or Primax; Grupo Wiese and Sura Asset Management in the sale of Seguros Sura and Hipotecaria Sura in favor of Intercorp Financial Services; shareholders of Inversiones La Rioja in the sale of 99.97% of their outstanding stock to INTURSA; Glencore in the acquisition of the Contonga mine formerly owned by Nyrstar; Inversiones Educa in the acquisition of Grupo Toulouse; shareholders of Artesco and Mova Industrial in the sale of 75% of their capital stock in favor of Staedtler; Smart Fit in the acquisition of Gold’s Gym; among others.

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Rodrigo, Elías & Medrano Abogados - Corporate/M&A Department

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Band 1

第一等

Chambers Commentary (based on the Chambers research)

Basic facts about the department
- Heads of department: Jean Paul Chabaneix and Ramón Vidurrizaga
- 16 partners
- 28 other qualified lawyers

What the team is known for Esteemed full-service firm with an outstanding corporate team acting for a roster of stellar international and domestic clients, including pension funds, private equity firms and corporations. Sector expertise encompasses manufacturing, oil and gas, mining and pharmaceuticals. Practice knowledge covers complex mandates, including large corporate restructurings following divestitures, innovative private equity and non-private equity M&A as well as the purchase and disposal of minority equity participation and non-stock assets.

Strengths The corporate and M&A practice is endorsed by clients, who state: "The firm is among the most qualified in this area – they handle highly complex matters in an excellent timescale and in accordance with our requirements."

Others go on to emphasise that "Rodrigo, Elías & Medrano Abogados is an excellent firm – they offer full coverage, experience and flexibility."

Work highlights Counselled Abastible on its USD335 million purchase of Repsol's Peruvian and Ecuadorian LPG operations.

Advised Brookfield on the acquisition of a majority stake in the Rutas de Lima consortium, which operates under a PPP agreement.

Significant clients I Squared Capital, MiFarma, Votorantim, Ontario Teachers’ Pension Plan, Sempra Energy.

Notable practitioners

Co-head of department Jean Paul Chabaneix is highly regarded by market sources for his practice in this field. Clients consider him to be "an experienced, reasonable, calm and very creative lawyer." They appreciate "his involvement in deals and his efforts to simplify matters." He is particularly well-versed in domestic and international M&A transactions, with a specific focus on deals in the mining sector.

Luis Carlos Rodrigo Prado is praised by clients for his "knowledge of, specialisation in and dedication to the corporate market." He is acclaimed for being "a good mining and corporate lawyer." He has considerable experience assisting clients with complex mandates, including M&A transactions involving sectors such as mining, energy, infrastructure and financial services.

According to clients, Eduardo López is "a very capable, solid and responsive practitioner." Others go on to note that "he pushes the deal forward." He is well-versed in M&A transactions, having acted for leading names in the mining and infrastructure sectors on complex deals.

Luis Enrique Palacios is singled out by clients as an "excellent lawyer that provides detailed advice related to the legal aspects of transactions, as well as creative structures in order to negotiate complex terms." Other market sources consider him to be "a very competent and capable lawyer."

Interviewees agree that Jorge Trelles is a "very good lawyer – he is active, dedicated and intelligent." He has experience assisting clients with M&A matters, with knowledge of the energy and natural resources sector in particular.

"Intelligent" associate-to-watch Nicolás Cornejo has a recognised presence in the market for his corporate and M&A practice. Market sources state that he is "very dedicated and involved."

About the Team (content provided by Rodrigo, Elías & Medrano Abogados)

Our lawyers specializing in Corporate and M&A provide advice across all industries, either representing buyers, sellers, financial advisors or financial institutions.

Our services are rendered with a multidisciplinary approach, supporting our clients in due diligence activities, in the design of legal and tax-related structures and in the preparation and negotiation of the relevant agreements.

We further assist Peruvian and foreign investors with all stages and legal aspects of their business activity, including corporate, contractual and civil matters in various industries.

We assist investors or companies from their incorporation and during their growth and commercial expansion. We advise business reorganizations and represent companies as interlocutor with interested third parties.

We provide ongoing guidance on all procedures related to permits, authorizations, contracts, as well as on effective compliance with corporate governance standards.


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Estudio Echecopar - Member Firm of Baker McKenzie International - Corporate/M&A Department

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Band 2

第二等

Chambers Commentary (based on the Chambers research)

Basic facts about the department
- Heads of department: Liliana Espinosa Reboa and Jorge Ossio Gargurevich
- 10 partners
- 14 other qualified lawyers

What the team is known for Regional heavyweight with a strong corporate practice, assisting with complex domestic and international matters including M&A transactions. Routinely retained by a number of high-profile private equity funds and companies hailing from sectors such as mining, agribusiness, energy and financial services. Areas of focus encompass joint ventures and acquisition financing, as well as corporate restructuring.

Strengths Clients commend the firm for its regional strength and abilities in complex deals. One describes: "They assist us with complex, unique transactions, demonstrating a very good understanding of how our company works and providing a one-stop service. We appreciate the fact that the firm can offer us regional solutions in an effective way and presents solutions in a timely manner."

Work highlights Represented Inversiones Centenario in the structuring of a joint venture with a Grupo Agrisal for the development of five hotels in Peru under the brand "Holiday Inn Express."

Significant clients AFP Habitat, Agro Vision, Brexia Goldplata, Ashmore, Grupo Security.

Notable practitioners

Department co-head Liliana Espinosa Reboa is a well-respected practitioner in the market, with clients lauding her as a "great lawyer" and continuing: "She has in-depth knowledge and considerable experience in this field." They additionally appreciate her personal involvement in matters, as well as her responsiveness. She has expertise in M&A transactions, alongside spin-offs, reorganisations and equity investments.

Inés Baca de la Piedra is acknowledged by market commentators, who view her as "a very detailed lawyer, with great knowledge of this legal area." They go on to note: "She does fantastic M&A and corporate work and maintains a business-oriented perspective."

Oscar Trelles de Belaunde is valued by interviewees for his practice in the corporate market, with clients highlighting their appreciation of his "solid legal knowledge, well-organised work and quick responses, as well as his good interpersonal skills."

Practice co-head Jorge Ossio Gargurevich is recognised by sources for his experience in this field. He often advises on M&A structures and strategies.

Rafael Picasso Salinas is considered by market sources to be "a good lawyer, with an active practice in this field." In addition to his corporate knowledge, he also has experience in bankruptcy matters.

About the Team (content provided by Estudio Echecopar - Member Firm of Baker McKenzie International)

Our team advice in all matters of corporate issues, including the incorporation and maintenance of all types of corporations, the establishment of branches or agencies, the choice of the most adequate and efficient corporate form, the development of the articles of incorporation and the bylaws of the respective company, the negotiation and development of shareholder agreements.

We advise in complex commercial contracts, especially in joint venture contracts, strategic alliances, investments, commercial commissions, agency, and representation contracts, we participate in highly sophisticated and complex transactions intended for the acquisition or sale of company stock, whether listed in the stock market or not, or for the acquisition or sale of assets, including transactions combined with mergers, spin-offs and all types of corporate reorganizations. We advice in transactions related to companies undergoing restructuring due to insolvency.

We assist through all stages of a transaction, either for the sale or purchase of a business, including preparing the business for a sale and the respective due diligence process, negotiating the purchase or the sale agreement, handling the closing matters and occasionally coordinating the closing across multiple jurisdictions, and integrating the operations of the resulting business.

Most of our lawyers have an international work experience, hold a Master Degree either locally or abroad and some of them are admitted to practice in New York.

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Muñiz, Olaya, Meléndez, Castro, Ono & Herrera Abogados - Corporate/M&A Department

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Band 2

第二等

Chambers Commentary (based on the Chambers research)

Basic facts about the department
- Head of department: Mauricio Olaya Nohra
- 6 partners
- 20 other qualified lawyers

What the team is known for Reputed full-service firm with a highly regarded corporate practice. Routinely handles domestic and cross-border acquisitions and disposals of controlling and minority stakes. Team has particular expertise in transactional due diligence and preliminary negotiations. Also advises on day-to-day corporate matters. Experienced representing companies involved in the distribution, fishing and manufacturing industries, as well as international investment groups.

Strengths Clients are quick to single out the firm in this area, with one stating: "We were attracted to the firm due to its broad experience in corporate and M&A matters. They provide constant assistance and the quality of the work remains excellent, both in terms of content and response times."

Work highlights Assisted Arca Continental with the acquisition of a percentage of Corporación Lindley’s voting shares from the Arredondo family. Corporación Lindley is a subsidiary of Arca Continental.

Significant clients Altra Investment, Nexus Group, Credit Suisse, Ferreyros, Pesquera Diamante.

Notable practitioners

Head of department and "benchmark in the Peruvian market" Mauricio Olaya Nohra is described by clients as "a deal maker." They go on to assert: "He has an extraordinary understanding of business and an unequalled creativity when carrying out transactions." Others point out his "huge knowledge of the law and his proactive nature." He has noteworthy experience in the full range of corporate matters, particularly M&A.

Senior statesman Jorge Muñiz is a founding partner of the firm and a highly recognised practitioner in the Peruvian market, due to his expertise in the corporate arena.

Up-and-coming partner Juan Carlos Vélez is an "intelligent lawyer that deserves recognition," according to interviewees. Clients highlight that "he always provides quick, clear and effective responses." He is well versed in M&A transactions and has experience assisting both domestic and international clients.

About the Team (content provided by Muñiz, Olaya, Meléndez, Castro, Ono & Herrera Abogados)

Our legal advice encompasses corporate law in general, including corporate matters (incorporation of companies, shareholder agreements, good corporate governance, relationship between shareholders, and board liability) and civil matters (contract review, family law protocols, and property law). 

We play a leading role in mergers and acquisitions in various sectors of the economy, designing the best corporate-tax structure and negotiating strategy. We have considerable experience in the preparation of data rooms and disclosure schedules. We also have a team of professionals with plenty of experience conducting due diligence examinations who are in a capacity to simultaneously perform different examination processes within short periods of time without losing sight of the basic aspects of the transaction involved, while covering accounting, tax and labor aspects on a comprehensive basis.

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Philippi Prietocarrizosa Ferrero DU & Uría - Corporate/M&A Department

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Band 2

第二等

Chambers Commentary (based on the Chambers research)

Basic facts about the department
- Heads of department: Rafael Boisset Tizon and Guillermo Ferrero Álvarez-Calderón
- 8 partners
- 14 other qualified lawyers

What the team is known for Prominent regional firm offering expertise in a number of transactional corporate mandates, including M&A deals. Also advises on spin offs, joint ventures and the establishment of SPVs. Team has in-depth knowledge of structuring international companies' incorporations into the Peruvian market. Client base includes significant private equity funds, as well as leading names from sectors such as real estate, pharmaceuticals and energy and natural resources.

Strengths The firm is held in high esteem by clients, with one enthusing: "This is one of the best firms in the country for M&A transactions – the team is down-to-earth and willing to work hard for its clients, providing a committed service."

Work highlights Acted for Aventura Plaza, a joint venture formed of Falabella, Ripley and Mall Plaza, in its spin-off and termination.

Significant clients The Carlyle Group, Brookfield Asset Management, SUEZ, Unilabs, Clear Channel.

Notable practitioners

Co-head of department Guillermo Ferrero Álvarez-Calderón is well recognised in the Peruvian market for his corporate practice and experience in M&A. Clients say: "He does a particularly good job – he is very clear, responsive and gets straight to the point." Another mentions that "he always pushes the deal forward and is an especially good negotiator." He co-led the team on the aforementioned Aventura Plaza work highlight.

José Delmar is a recognised player in the domestic market with broad ranging corporate experience. He has additional expertise in dispute resolution, particularly commercial arbitration cases. Delmar also has considerable academic prestige.

Rafael Boisset Tizon receives praise from clients, who argue that "he has a great capacity to anticipate problems and handle compliance issues. He is also an assertive leader in M&A transactions." Others go on to say: "He can see the bigger picture without losing sight of the details."

About the Team (content provided by Philippi Prietocarrizosa Ferrero DU & Uría)

Our practice area is highly specialized in Corporate and M&A matters. Its lawyers have been involved in complex transactions and are renowned for providing creative and efficient legal advice. In addition to delivering timely advice and practical solutions to clients facing a wide variety of legal and business challenges, PPU provides multinational companies with high quality services as a consequence of its extensive international practice. Our practice area provides corporate clients with all the tools needed to manage both the day-to-day matters and the strategic issues that may arise from each transaction, merger or acquisition. PPU offers its clients legal advice in different fields, such as:

       Corporate structuring and incorporation of investment vehicles

       Formation of private equity funds

       Preparation and negotiation of commercial contracts

       Permanent assistance in corporate matters

       Legal advice in connection to Corporate Governance

       Domestic and international transactions and due diligence processes

       Business reorganizations, integrations, mergers and acquisitions, spin-offs and control takeovers

       National and cross-border mergers and acquisitions

       Structuring and execution of public offerings

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Garrigues - Corporate/M&A Department

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Band 3

第三等

Chambers Commentary (based on the Chambers research)

Basic facts about the department
- Heads of department: Sergio Amiel and Oscar Arrús
- 4 partners
- 12 other qualified lawyers

What the team is known for Significant corporate practice group with notable activity in domestic and cross-border transactions, including M&A deals and equity disposals. Assists industry players from sectors such as healthcare, infrastructure, energy and telecoms on corporate reorganisations, as well as day-to-day commercial and corporate governance matters.

Strengths The firm garners recognition from clients, with one asserting: "Garrigues is a very complete firm. Every time an issue has come up, they have properly addressed it to minimise the risks involved and facilitate the continuation of the business activity. They are very commercially minded and aware of our interests."

Work highlights Advised Grupo Quirónsalud on the acquisition of 100 individuals' stakes in Clínica Ricardo Palma.

Significant clients Nexus Group, UNE Asesores, SUMMA Asesores Financieros, Metro de Lima Línea 2, Grupo Cobra.

Notable practitioners

Practice co-head Sergio Amiel "is a great lawyer and a leader in transactions," according to interviewees. Clients go on to mention: "He has in-depth knowledge of this market and understands how to best apply the legal framework to the clients' interests and needs." He has considerable experience advising on both domestic and international mandates.

Thomas Thorndike has "impressed" clients with "his in-depth knowledge of business and the legal issues involved in a corporate transaction, as well as with his commitment and ability to handle complex negotiations involving multiple parties."

Associate-to-watch Héctor Zegarra is recognised by market commentators as a "very good lawyer." He has experience acting for both purchasers and sellers in M&A transactions.

About the Team (content provided by Garrigues)

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Hernández & Cía. Abogados - Corporate/M&A Department

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Band 3

第三等

Chambers Commentary (based on the Chambers research)

Basic facts about the department
- Heads of the practice: Diego Carrión, Alfredo Filomeno Ramírez and Juan Luis Hernández
- 5 partners
- 15 other qualified lawyers

What the team is known for Solid practice group with an established reputation in the market. Has expertise in both transactional and advisory matters within the corporate and M&A practice area, with abilities in acquisitions and disposals, as well as corporate governance. Client roster includes domestic and foreign companies, in addition to private equity funds.

Strengths Clients value the high quality of the firm's service in this area. One reports: "The lawyers are very professional and completely oriented to solving everything with the least amount of risk. I would praise their punctual responses and in-depth knowledge of the market."

Work highlights Advised Hermes Transportes Blindados on the USD150 million corporate restructuring of its Peruvian business, including the incorporation of its two major shareholders, Rhino Inversiones Perú and Centro Americana de Inversiones Balboa.

Significant clients COFIDE, Axur, Dinet, Blue Road Capital, Vanguard International Group.

Notable practitioners

Juan Luis Hernández enjoys a good reputation for his work in this field, receiving commendations from his clients for "his knowledge and his creativity when negotiating contracts." Another singles him out as a "very strong and highly active corporate lawyer." He is well-versed in transactional mandates, focusing on M&A deals and a variety of financings.

Diego Carrión is a "very good, pragmatic lawyer, who is focused on closing deals and giving well-balanced advice," according to clients. He has experience assisting with both domestic and international matters.

Alfredo Filomeno Ramírez is described as "a very professional lawyer in this area." He complements his corporate practice with additional experience in a range of banking and finance mandates.

About the Team (content provided by Hernández & Cía. Abogados)

The firm’s corporate work is diverse and significantly wide because of the firm’s wide and cross-border clients, which have corporate development’s strategies and improvement, as well as the firm’s recognition as leader in the private equity industry. Hernández & Cía. Abogados recently advised The Abraaj Group –leading private equity investor operating in global growth markets- in the acquisition of a majority stake in Casaideas. 

In addition, the firm advised a minority shareholder group of Compañía Minera Milpo S.A.A. in the transfer of their jointly stake of shares (20.17% of total capitalstock) in favour of Votorantim Metais – Cajamarquilla S.A. The firm also advised The Carlyle Group in its second private equity acquisition in Peru, pursuant to which Carlyle acquired a controlling equity stake in the leading Peru-based cash management company Hermes Transportes Blindados S.A.

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Lazo, De Romaña & CMB Abogados - Corporate/M&A Department

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Band 3

第三等

Chambers Commentary (based on the Chambers research)

Basic facts about the department
- Head of department: Jorge Lazo
- 1 partner
- 4 other qualified lawyers

What the team is known for Established corporate practice group with experience advising financial entities and companies, predominantly from the domestic market, on a broad range of corporate mandates. Has in-depth knowledge of M&A deals and corporate restructuring involving share transfers and regulatory advice. Business start-ups are an additional focus.

Strengths Clients are highly satisfied with the work of the firm. One says: "The service they provide is excellent; the support of the lawyers is extremely valuable to the success of the transaction. The lawyers' level of professionalism, knowledge and flexibility to support the negotiation process helps to bridge the many obstacles that arise."

Work highlights Counselled Indumotora Group on the sale of 100% of the shares of its four Peruvian companies to Inchcape. The total value of this transaction was USD290 million.

Significant clients BBVA, Secura Corredores de Seguros, Librerias Crisol, Marcan, Indumotora Group.

Notable practitioners

Department head Jorge Lazo is well regarded by commentators for his practice in this market. A client particularly values "his professionalism and the quality of service he provides." His experience encompasses corporate matters as well as banking and finance and capital markets.

Fátima De Romaña is recognised by interviewees for her activity in this area. She has experience advising domestic and international clients on M&A transactions, as well as restructurings.

About the Team (content provided by Lazo, De Romaña & CMB Abogados)

Our Corporate group provides the entire range of the day to day legal services companies may need. We advise on matters regarding the incorporation of companies, preparation and review of by-laws, drafting and negotiating shareholders agreements, assessing disclosure control in order to comply with regulatory requirements and general corporate advisory, always guiding our clients through “best practices” standards in their specific industry.

In addition, we counsel our clients focusing on matters that may arise in their businesses, addressing their needs during any process of decision-making, including, legal advisory, due diligence processes, drafting and negotiation of contracts and other documents, deciding among financing choices, analyzing their alternatives of corporate reorganizations, mergers and acquisitions, asset sales, spin-offs, leasing transactions, and in general, we take care of every detail required by a particular transaction.

Our team is highly qualified for providing answers on legal issues connected to the Corporate Law practice such as Tax Law, Labor Law, Capital Markets, Finance, Bankruptcy and Financial Restructuring and other connected areas.



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Arbe Abogados Corporativos Financieros - Corporate/M&A Department

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Band 4

第四等

Chambers Commentary (based on the Chambers research)

Basic facts about the department
- Heads of department: César Arbe, Francisco Gálvez and Jessica Valdivia Amayo
- 3 partners
- 1 other qualified lawyer

What the team is known for Boutique practice recognised for its abilities in a variety of commercial matters, asset transfers, purchases and sales as well as corporate restructurings. Particularly well-versed in foreign investment matters and share holder agreements. Additionally provides counsel to companies on day-to-day corporate matters.

Strengths Clients are full of praise for the firm's corporate practice group, as one states: "The performance of the firm is very good. The team is client-oriented and provides the information we require in a timely manner."

Significant clients Desarrollos Inmobiliarios Peruanos, Fundamenta Gestión Perú, Grupo Yes, Western Construction, Wescon Ingeniería y Construcción.

Notable practitioners

César Arbe has a long-standing practice in the Peruvian corporate sphere and is recognised by market commentators. Clients consider him to be "good at explaining issues and creative in finding the best solution for the company."

Jessica Valdivia Amayo is described as "a good corporate lawyer" by sources. Clients also suggest that "she is dedicated to us and focused on our needs." She has additional experience in banking and finance.

About the Team (content provided by Arbe Abogados Corporativos Financieros)

Arbe Abogados advises a wide range of businesses and has a strong background in M&A transactions. The firm represents bidders, targets, financial advisors, merchant bankers and other parties in deals ranging from small to large privately negotiated transfers of shares or assets to leveraged buyouts to public transactions in the capital market, domestic and cross-border public company combinations.

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CMS GRAU - Corporate/M&A Department

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Band 4

第四等

Chambers Commentary (based on the Chambers research)

Basic facts about the department
- Heads of department: Juan Carlos Escudero Velando and Michelle Barclay Thorne
- 2 partners
- 9 other qualified lawyers

What the team is known for Key practice with an active presence in the corporate market advising domestic and international clients with local issues, including restructuring mandates and M&A transactions. Has expertise in matters related to the mining sector, as well as energy and real estate. Commercial contracts is another area of strength for the team.

Strengths Clients endorse the firm's service in this area, with one noting: "I like working with the firm. The lawyers are responsive and knowledgeable and they also have an understanding of the correlation between local law and other jurisdictional frameworks."

Work highlights Assisted Compañia Minera Milpo and Votorantim Metais Cajamarquilla with their purchase of 75% of the Shalipayco project, previously owned by Panamerican Silver. The value of this transaction was USD50 million.

Significant clients Elevar Equity, Hewlett-Packard, Enagás.

Notable practitioners

Juan Carlos Escudero Velando is recognised by interviewees as a "very good corporate lawyer." He is well versed in corporate reorganisations, often acting for private companies in the real estate, infrastructure and retail industries.

About the Team (content provided by CMS GRAU)

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DLA Piper Pizarro Botto Escobar - Corporate/M&A Department

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Band 4

第四等

Chambers Commentary (based on the Chambers research)

Basic facts about the department
- Heads of department: Fernando Lanfranco and Luis Vargas
- 2 partners
- 7 other qualified lawyers

What the team is known for Active in a variety of corporate matters, with a solid track record advising domestic and international clients on M&A transactions. Has particular knowledge of private equity mandates, assisting fund managers with their local investments. Sector involvement includes telecommunications, retail, real estate and construction.

Strengths Clients single out the key strengths of the corporate practice group, noting: "The team is made up of very good lawyers who are committed to the needs of the client and to providing a timely service."

Work highlights Acted for Ripley on its spin-off from the Aventura Plaza joint venture with Falabella and Mall Plaza.

Significant clients Macrocapitales, BAT, Cinco Millas, Inverdesa, Avon.

Notable practitioners

Luis Vargas is a "good lawyer," according to market commentators. Clients appreciate his service and highlight "his technical knowledge and people skills." He has considerable experience in the corporate arena.

About the Team (content provided by DLA Piper Pizarro Botto Escobar)

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Estudio Olaechea - Corporate/M&A Department

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Band 4

第四等

Chambers Commentary (based on the Chambers research)

Basic facts about the department
- Heads of department: Jesús Matos, Martín Serkovic and Carlo Viacava
- 5 partners
- 13 other qualified lawyers

What the team is known for Solid practice group with an established position in the market, routinely called upon to advise foreign multinationals on a wide variety of corporate mandates. Business start-ups within the local market are a particular area of expertise, along with corporate restructuring, M&A transactions and equity and asset sales and transfers.

Strengths Clients appear satisfied with the service of the firm. One considers that "the lawyers are very knowledgeable, reliable and always available. Estudio Olaechea's advice always demonstrates an in-depth legal analysis."

Work highlights Represented Specialized Bicycle Components in the incorporation of a subsidiary in Peru as part of their entry strategy into the market.

Significant clients Macquarie Capital, Acciona, Pernod Ricard, Diving del Perú, Xerox.

Notable practitioners

Clients report that Martín Serkovic is "a wonderful lawyer that undertakes everything asked of him." Others highlight that he "responds immediately, provides high-quality advice and is focused on the clients needs."

About the Team (content provided by Estudio Olaechea)

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Rubio Leguía Normand - Corporate/M&A Department

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Band 4

第四等

Chambers Commentary (based on the Chambers research)

Basic facts about the department
- Head of department: Carlos Arata
- 3 partners
- 10 other qualified lawyers

What the team is known for Known for its strength representing corporate clients in M&A transactions, minority equity investments and corporate reorganisations and spin-offs. Also retained for the incorporation of companies into the local market. Regularly assists clients with interests in the real estate, mining and retail industries.

Strengths A client highlights the quality of the team involved in corporate transactions and says: "I have no hesitation in recommending them."

Work highlights Counselled GlobokasNet on its acquisition of Telefónica Centro de Cobros.

Significant clients GloboKasNet, Montpelier Foundation, Punto Ticket.

Notable practitioners

Emil Ruppert is a highly regarded practitioner in the Peruvian legal market with considerable expertise in the corporate sector. He is described by interviewees as "a very good lawyer with a lot of experience." He is particularly well versed in mandates involving the mining industry.

Up-and-coming partner Carlos Arata is well known in the market, with a client singling him out for being "very efficient, proactive and creative - his work is of a very high quality." He led the team on the GloboKasNet work highlight.

About the Team (content provided by Rubio Leguía Normand)

The firm’s practice in Corporate and M&A is one of our greatest strengths. Our group advises many of the world’s leading and emerging companies, as well as financial institutions and investments funds, on mergers and acquisitions, and other corporate transactions. The experience of its members in sophisticated global markets allows us to provide integrated strategic and tactical advice to our clients in all capacities, purchasers, sellers, lenders and financial advisors in domestic and cross border transactions.

Likewise, our firm’s expertise in mining, real estate, infrastructure, capital markets, energy and finance, allows us to provide a legal services to commercial banks, investment banks, insurance companies, and other institutions, companies in different industries, telecommunications companies, transportations companies, personal service and consulting firms, public utilities, not –for- profit organizations and individuals.

During 2016, our M&A department has participated in several acquisition and reorganization transactions in different industries such as mining, energy, retail and financial services.

Key clients of our firm include Newmont Mining Corp., Barrick Gold Corporation, Minera Yanacocha S.R.L., EnBW Energie Baden- Württemberg AG., Credit Suisse, Bank of America- Merril Lynch, JP Morgan, GlobokasNet LLC, Sojitz, OeEB - Oesterreichische Entwicklungsbank AG, Gilat to Home, Ferrovial, among others.

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Overview

PERU: An Introduction to Corporate/M&A Contributed by Miranda & Amado Abogados

The Peruvian Central Bank has reduced its forecast 2017 growth rates for almost all sectors, except for the fishing sector (Diario Gestión Monday 19 July 2017), as internal consumption rates, manufacturing rates and exports are falling. Also, the current political situation is a complex one. The current president, Mr. Pedro Pablo Kuzcinski, narrowly beat the second candidate, Ms. Fujimori, to the presidency, but she won a strong majority in Congress (73 out of 130), while the President's party won just 18. In less than a year of government, that opposing majority is making itself noticed. So far, three ministers have been forced to leave the government over purely political issues, forcing the government into inaction and without promise of this conflict ending in the short term. New mining and large infrastructure projects, which tend to be larger and therefore generate billions of dollars per project, have been slow to evolve. Many existing projects are owned by Brazilian companies, which are themselves in their own crisis as they have been hit by corruption scandals, and are on hold while they are sold to new parties that will pull them through. In addition, a strong El Niño phenomenon affected the Peruvian coast during the summer, taking a further toll on productivity and growth.

In this context, Peruvian corporations are facing many challenges:

• Lower demand for Peruvian exports directly affect exporting companies and indirectly impact a long line of service and product suppliers.

• The El Niño phenomenon has affected thousands of hectares of export-oriented crops, adding to the already difficult situation, leaving some exporters with even fewer sales and in need of capital.

• As consumer demand and confidence are down, retail-oriented businesses have suffered, making these companies look into reducing costs and seeking efficiencies.

• Demand for new housing has lowered and is affecting the development of new construction projects. These have had different impacts on Peruvian companies and the incoming of new foreign investment:

• As mentioned before, 2016 and 2017 have not seen any new large infrastructure projects, even though there are many in the pipeline, and many existing ones have been delayed if not completely paralysed.

• The retail sector has been affected by less consumption and lower consumer confidence.

• The residential and commercial construction sector have likewise been affected by lower consumption and a reduction in demand for new homes and new store and office space.

• In the financial sector, issuance of new corporate debt has seen a reduction and has focused on refinancing of obligations. Specifically in microfinance, levels of default are growing and are driving microfinance companies to seek new capital and focus on being more efficient.

• The only exception this year appears to be the fishing sector which, after many years of poor performance, is having a better year so far.

As a result of the above, the expectations on growth for the Peruvian economy are being lowered every day. The current context generates pressure on firms to reduce costs, find ways to be more efficient and at the same time improve their market positions. Still many businesses believe that this is a temporary phase and the long-term opportunities are good. Additionally, mid-sized and large businesses are not limiting their focus to Peru, and have redefined their markets of scope to include other Latin American countries, most frequently the countries of the Pacific Alliance.

On one hand, companies are cutting down on legal costs, at least those related to their day-to-day operations, and are demanding more from their internal legal teams. Firms are also taking more time to process and pay for all services.

But on the other hand, firms are forced to decide on what strategies to follow. Some owners of family-owned firms decide it is time to sell, others decide it is time to open up capital and look for investors (almost always in private capital, as IPOs are still unpopular) or enter into joint ventures with parties that can add value, in order to grow and increase market share, with the additional challenge for many being that their "market" is no longer limited by the political boundaries of the Peruvian economy, but is defined by the dynamics of the firms competing at a regional level.

Law firms and their corporate and M&A practices are no exception to the challenges facing clients. Law firms must also look for ways to be more efficient. They have to adjust to their clients' strategies for dealing with economic pressure and competition; however, in dealing with these challenges, there is a need for legal services. Companies are refinancing their obligations, and are rising up to the challenges of taking in investors or forming alliances with third parties, which was not common for Peruvian businesses. Peruvian companies looking to sell are having a bit more difficulty than a few years before, but in every business there is an array of private equity funds and operators wanting to invest or expand, and that keeps sale processes competitive.

At least until now, it appears that the economic downturn is affecting many businesses and conditioning their short-term view and their business strategies for the medium- and long-term. While some may have a pessimistic view which may result in the sale of their business, others may combine a realistic view of the present with a positive view for the future, and adopt strategies which will further their business. Unlike a few years ago, however, by now most businesses know that a longer-term strategy has to be supported by the help of new equity and not debt alone. This alone is a change in character among Peruvian businesses.

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Senior Statesperson

Muñiz, Olaya, Meléndez, Castro, Ono & Herrera Abogados

From the Chambers Latin America guide

Senior statesman Jorge Muñiz is a founding partner of the firm and a highly recognised practitioner in the Peruvian market, due to his expertise in the corporate arena.

^ See whole ranking table

Band 1

Jean Paul Chabaneix

Rodrigo, Elías & Medrano Abogados

From the Chambers Latin America guide

Co-head of department Jean Paul Chabaneix is highly regarded by market sources for his practice in this field. Clients consider him to be "an experienced, reasonable, calm and very creative lawyer." They appreciate "his involvement in deals and his efforts to simplify matters." He is particularly well-versed in domestic and international M&A transactions, with a specific focus on deals in the mining sector.

^ See whole ranking table

Band 1

Guillermo Ferrero Álvarez-Calderón

Philippi Prietocarrizosa Ferrero DU & Uría

From the Chambers Latin America guide

Co-head of department Guillermo Ferrero Álvarez-Calderón is well recognised in the Peruvian market for his corporate practice and experience in M&A. Clients say: "He does a particularly good job – he is very clear, responsive and gets straight to the point." Another mentions that "he always pushes the deal forward and is an especially good negotiator." He co-led the team on the aforementioned Aventura Plaza work highlight.

^ See whole ranking table

Band 1

Mauricio Olaya Nohra

Muñiz, Olaya, Meléndez, Castro, Ono & Herrera Abogados

From the Chambers Latin America guide

Head of department and "benchmark in the Peruvian market" Mauricio Olaya Nohra is described by clients as "a deal maker." They go on to assert: "He has an extraordinary understanding of business and an unequalled creativity when carrying out transactions." Others point out his "huge knowledge of the law and his proactive nature." He has noteworthy experience in the full range of corporate matters,  particularly M&A.

^ See whole ranking table

Band 1

José Antonio Payet

Payet, Rey, Cauvi, Pérez Abogados

From the Chambers Latin America guide

"Truly outstanding" co-head of department José Antonio Payet is well regarded within the corporate arena, with clients commending him for his "high degree of knowledge in this field, as well as his capacity to clearly explain complex legal matters." They go on to acknowledge his creativity when structuring solutions, as well as his abilities in sophisticated transactions, asserting: "His advice and assistance is impeccable." He is well versed in cross-border transactions.

^ See whole ranking table

Band 1

Rebaza, Alcázar & De Las Casas

From the Chambers Latin America guide

Department head Alberto Rebaza has a strong practice focus on corporate and M&A matters. Interviewees hold him in high esteem, with one claiming: "He is a leader and an excellent lawyer in this field." Clients additionally note: "He has superior knowledge and his experience in M&A transactions is an invaluable asset in these types of deals. He is also a hard negotiator and having him on my side of the table gives me peace of mind."

^ See whole ranking table

Band 2

Liliana Espinosa Reboa

Estudio Echecopar - Member Firm of Baker McKenzie International

From the Chambers Latin America guide

Department co-head Liliana Espinosa Reboa is a well-respected practitioner in the market, with clients lauding her as a "great lawyer" and continuing: "She has in-depth knowledge and considerable experience in this field." They additionally appreciate her personal involvement in matters, as well as her responsiveness. She has expertise in M&A transactions, alongside spin-offs, reorganisations and equity investments.

^ See whole ranking table

Band 2

Juan Luis Hernández

Hernández & Cía. Abogados

From the Chambers Latin America guide

Juan Luis Hernández enjoys a good reputation for his work in this field, receiving commendations from his clients for "his knowledge and his creativity when negotiating contracts." Another singles him out as a "very strong and highly active corporate lawyer." He is well-versed in transactional mandates, focusing on M&A deals and a variety of financings.

^ See whole ranking table

Band 2

Roberto MacLean M

Miranda & Amado Abogados

From the Chambers Latin America guide

Experienced practitioner Roberto MacLean is recognised by market commentators for his knowledge of corporate mandates. One highlights his activity advising on cross-border transactions, going on to note: "He is a great problem solver, with an impressive thought process and fantastic people skills, particularly in relation to his management of the communication with the counterpart."

^ See whole ranking table

Band 2

Miranda & Amado Abogados

From the Chambers Latin America guide

Luis Miranda has noteworthy expertise assisting clients with a range of high-profile domestic and cross-border mandates. Clients highlight him as "an excellent professional, with clear understanding of our matters. He is also very responsive and deeply involved in the transaction – he is really great." Others go on to single him out for his "fantastic knowledge of tactics related to M&A deals."

^ See whole ranking table

Band 2

Luis Carlos Rodrigo Prado

Rodrigo, Elías & Medrano Abogados

From the Chambers Latin America guide

Luis Carlos Rodrigo Prado is praised by clients for his "knowledge of, specialisation in and dedication to the corporate market." He is acclaimed for being "a good mining and corporate lawyer." He has considerable experience assisting clients with complex mandates, including M&A transactions involving sectors such as mining, energy, infrastructure and financial services.

^ See whole ranking table

Band 3

José Daniel Amado

Miranda & Amado Abogados

From the Chambers Latin America guide

José Daniel Amado is well regarded by clients, who say: "He gives very good advice during negotiations and is able to anticipate the other party's moves in advance." Alongside his strength in corporate and M&A matters, he has additional knowledge of dispute resolution, with arbitration being a particular focus.

^ See whole ranking table

Band 3

Garrigues

From the Chambers Latin America guide

Practice co-head Sergio Amiel "is a great lawyer and a leader in transactions," according to interviewees. Clients go on to mention: "He has in-depth knowledge of this market and understands how to best apply the legal framework to the clients' interests and needs." He has considerable experience advising on both domestic and international mandates.

^ See whole ranking table

Band 3

Juan Antonio Egüez

Payet, Rey, Cauvi, Pérez Abogados

From the Chambers Latin America guide

Clients are quick to single out Juan Antonio Egüez, stating: "He has experience in a variety of transactions and is creative and flexible. He can identify which issues to prioritise, without losing sight of the important details." Others go on to remark that "he produces excellent work, with a practical understanding of deals." He has particular expertise in the financing elements of M&A.

^ See whole ranking table

Band 3

Rodrigo, Elías & Medrano Abogados

From the Chambers Latin America guide

According to clients, Eduardo López is "a very capable, solid and responsive practitioner." Others go on to note that "he pushes the deal forward." He is well-versed in M&A transactions, having acted for leading names in the mining and infrastructure sectors on complex deals.

^ See whole ranking table

Band 3

Luis Enrique Palacios

Rodrigo, Elías & Medrano Abogados

From the Chambers Latin America guide

Luis Enrique Palacios is singled out by clients as an "excellent lawyer that provides detailed advice related to the legal aspects of transactions, as well as creative structures in order to negotiate complex terms." Other market sources consider him to be "a very competent and capable lawyer."

^ See whole ranking table

Band 4

Arbe Abogados Corporativos Financieros

From the Chambers Latin America guide

César Arbe has a long-standing practice in the Peruvian corporate sphere and is recognised by market commentators. Clients consider him to be "good at explaining issues and creative in finding the best solution for the company."

^ See whole ranking table

Band 4

Inés Baca de la Piedra

Estudio Echecopar - Member Firm of Baker McKenzie International

From the Chambers Latin America guide

Inés Baca de la Piedra is acknowledged by market commentators, who view her as "a very detailed lawyer, with great knowledge of this legal area." They go on to note: "She does fantastic M&A and corporate work and maintains a business-oriented perspective."

^ See whole ranking table

Band 4

Rebaza, Alcázar & De Las Casas

From the Chambers Latin America guide

Respected practitioner Felipe Boisset is valued by clients for his "experience and tact, which really help to push a deal forward and reach an agreement." Another client praises his "ample knowledge and good ability in negotiations." His practice spans the full range of corporate and M&A matters.

^ See whole ranking table

Band 4

Philippi Prietocarrizosa Ferrero DU & Uría

From the Chambers Latin America guide

José Delmar is a recognised player in the domestic market with broad ranging corporate experience. He has additional expertise in dispute resolution, particularly commercial arbitration cases. Delmar also has considerable academic prestige.

^ See whole ranking table

Band 4

Juan Carlos Escudero Velando

CMS GRAU

From the Chambers Latin America guide

Juan Carlos Escudero Velando is recognised by interviewees as a "very good corporate lawyer." He is well versed in corporate reorganisations, often acting for private companies in the real estate, infrastructure and retail industries.

^ See whole ranking table

Band 4

Lazo, De Romaña & CMB Abogados

From the Chambers Latin America guide

Department head Jorge Lazo is well regarded by commentators for his practice in this market. A client particularly values "his professionalism and the quality of service he provides." His experience encompasses corporate matters as well as banking and finance and capital markets.

^ See whole ranking table

Band 4

Miranda & Amado Abogados

From the Chambers Latin America guide

Nathalie Paredes is praised by market commentators, who agree that she is "a great lawyer." Others continue: "She is very good at negotiating, always looking to find solutions – I have a great impression of her."

^ See whole ranking table

Band 4

Rubio Leguía Normand

From the Chambers Latin America guide

Emil Ruppert is a highly regarded practitioner in the Peruvian legal market with considerable expertise in the corporate sector. He is described by interviewees as "a very good lawyer with a lot of experience." He is particularly well versed in mandates involving the mining industry.

^ See whole ranking table

Band 4

Garrigues

From the Chambers Latin America guide

Thomas Thorndike has "impressed" clients with "his in-depth knowledge of business and the legal issues involved in a corporate transaction, as well as with his commitment and ability to handle complex negotiations involving multiple parties."

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Band 4

Oscar Trelles de Belaunde

Estudio Echecopar - Member Firm of Baker McKenzie International

From the Chambers Latin America guide

Oscar Trelles de Belaunde is valued by interviewees for his practice in the corporate market, with clients highlighting their appreciation of his "solid legal knowledge, well-organised work and quick responses, as well as his good interpersonal skills."  

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Band 4

DLA Piper Pizarro Botto Escobar

From the Chambers Latin America guide

Luis Vargas is a "good lawyer," according to market commentators. Clients appreciate his service and highlight "his technical knowledge and people skills." He has considerable experience in the corporate arena.

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Band 5

Miranda & Amado Abogados

From the Chambers Latin America guide

Department head Bruno Amiel garners extensive praise from clients for his corporate practice, with one declaring: "He is extremely intelligent, experienced and creative, as well as being a great negotiator"

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Band 5

Rafael Boisset Tizon

Philippi Prietocarrizosa Ferrero DU & Uría

From the Chambers Latin America guide

Rafael Boisset Tizon receives praise from clients, who argue that "he has a great capacity to anticipate problems and handle compliance issues. He is also an assertive leader in M&A transactions." Others go on to say: "He can see the bigger picture without losing sight of the details."

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Band 5

Juan José Cárdenas

Rebaza, Alcázar & De Las Casas

From the Chambers Latin America guide

Juan José Cárdenas is recognised for his expertise in corporate financing. He is regularly retained by both international and domestic clients to assist with M&A deals and is appreciated by market sources for his "attention to detail, creative approach and legal knowledge." 

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Band 5

Germán Carrera Rey

Carrera, Pinatte & Baca-Álvarez Abogados S.C.R.L.

From the Chambers Latin America guide

Germ����n Carrera Rey of Carrera, Pinatte & Baca-Álvarez Abogados is praised by clients, who say: "He is clear, responsive and knows the field." Another mentions that "he provides assertive recommendations." His corporate practice spans reorganisations and incorporations of international companies into the local market.

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Band 5

Hernández & Cía. Abogados

From the Chambers Latin America guide

Diego Carrión is a "very good, pragmatic lawyer, who is focused on closing deals and giving well-balanced advice," according to clients. He has experience assisting with both domestic and international matters.

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Band 5

Payet, Rey, Cauvi, Pérez Abogados

From the Chambers Latin America guide

Practice co-head Susan Castillo is well regarded by market sources, who comment that she is "a good, detail-oriented practitioner." She is additionally appreciated by clients for her "ability to explain legal complexities to clients and her in-depth knowledge of this field."

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Band 5

Payet, Rey, Cauvi, Pérez Abogados

From the Chambers Latin America guide

José Cúneo is well regarded for his practice within the corporate market, with interviewees considering him to be "a good M&A lawyer." They additionally mention his experience in corporate financings, with sector expertise in energy and natural resources matters.

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Band 5

Fátima De Romaña

Lazo, De Romaña & CMB Abogados

From the Chambers Latin America guide

Fátima De Romaña is recognised by interviewees for her activity in this area. She has experience advising domestic and international clients on M&A transactions, as well as restructurings.

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Band 5

Alfredo Filomeno Ramírez

Hernández & Cía. Abogados

From the Chambers Latin America guide

Alfredo Filomeno Ramírez is described as "a very professional lawyer in this area." He complements his corporate practice with additional experience in a range of banking and finance mandates.

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Band 5

Dentons

From the Chambers Latin America guide

Julio Gallo of Gallo Barrios Pickmann Abogados receives praise from market sources for his experience in this field. They describe him as a "pragmatic lawyer with good interpersonal skills."

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Band 5

Luis Gastañeta Alayza

García Sayán Abogados

From the Chambers Latin America guide

Luis Gastañeta Alayza of García Sayán Abogados is recognised in the market for his experience and knowledge of commercial mandates. He is extremely well versed in foreign investments into the Peruvian corporate sector.

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Band 5

Fernando Martinot

Martinot Abogados

From the Chambers Latin America guide

Fernando Martinot of Martinot Abogados is highly valued by his clients, who say: "He is great – he gets personally involved and has the capacity to handle complex work, providing a very good service." Alongside his knowledge of corporate law, he is additionally well versed in bankruptcy and restructuring.

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Band 5

Rebaza, Alcázar & De Las Casas

From the Chambers Latin America guide

Alexandra Orbezo is a recognised player in the corporate market and is described by clients as a "highly organised and efficient lawyer that gives very complete advice, having analysed all the important aspects involved in a transaction."

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Band 5

Jorge Ossio Gargurevich

Estudio Echecopar - Member Firm of Baker McKenzie International

From the Chambers Latin America guide

Practice co-head Jorge Ossio Gargurevich is recognised by sources for his experience in this field. He often advises on M&A structures and strategies.

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Band 5

Rafael Picasso Salinas

Estudio Echecopar - Member Firm of Baker McKenzie International

From the Chambers Latin America guide

Rafael Picasso Salinas is considered by market sources to be "a good lawyer, with an active practice in this field." In addition to his corporate knowledge, he also has experience in bankruptcy matters.

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Band 5

Estudio Olaechea

From the Chambers Latin America guide

Clients report that Martín Serkovic is "a wonderful lawyer that undertakes everything asked of him." Others highlight that he "responds immediately, provides high-quality advice and is focused on the clients needs."

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Band 5

Rodrigo, Elías & Medrano Abogados

From the Chambers Latin America guide

Interviewees agree that Jorge Trelles is a "very good lawyer – he is active, dedicated and intelligent." He has experience assisting clients with M&A matters, with knowledge of the energy and natural resources sector in particular.

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Band 5

Jessica Valdivia Amayo

Arbe Abogados Corporativos Financieros

From the Chambers Latin America guide

Jessica Valdivia Amayo is described as "a good corporate lawyer" by sources. Clients also suggest that "she is dedicated to us and focused on our needs." She has additional experience in banking and finance.

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Up and Coming

Rubio Leguía Normand

From the Chambers Latin America guide

Up-and-coming partner Carlos Arata is well known in the market, with a client singling him out for being "very efficient, proactive and creative - his work is of a very high quality." He led the team on the GloboKasNet work highlight.

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Up and Coming

Luis Miguel Elías

Rebaza, Alcázar & De Las Casas

From the Chambers Latin America guide

Up-and-coming partner Luis Miguel Elías is highlighted by sources for his "expertise and proactivity." Another interviewee remarks: "He deals with complex issues in a very practical way, providing solutions at all times, rather than creating obstacles."

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Up and Coming

Rebaza, Alcázar & De Las Casas

From the Chambers Latin America guide

Up-and-coming partner Daniel Gonzáles is acknowledged by clients for his "intelligence and commitment." Another goes on to say: "He is very good; he delivers work on time, offers solutions and gets involved."

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Up and Coming

Juan Carlos Vélez

Muñiz, Olaya, Meléndez, Castro, Ono & Herrera Abogados

From the Chambers Latin America guide

Up-and-coming partner Juan Carlos Vélez is an "intelligent lawyer that deserves recognition," according to interviewees. Clients highlight that "he always provides quick, clear and effective responses." He is well versed in M&A transactions and has experience assisting both domestic and international clients.

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Associates to watch

Rodrigo, Elías & Medrano Abogados

From the Chambers Latin America guide

"Intelligent" associate-to-watch Nicolás Cornejo has a recognised presence in the market for his corporate and M&A practice. Market sources state that he is "very dedicated and involved." 

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Associates to watch

Garrigues

From the Chambers Latin America guide

Associate-to-watch Héctor Zegarra is recognised by market commentators as a "very good lawyer." He has experience acting for both purchasers and sellers in M&A transactions.

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