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White & Case S.C.

TORRE DEL BOSQUE - PH, BLVD. MANUEL AVILA CAMACHO #24, COL. LOMAS DE CHAPULTEPEC, 11000 CIUDAD DE MÉXICO
Tel:
Work +52 55 5540 9600
Fax:
Fax +52 55 5540 9699
Web:
www.whitecase.com

Manuel Groenewold

Tel:
Work +52 55 5540 9657
Email:
White & Case

Work Department

Banking, Mergers & Acquisitions, Capital Markets

Position

Partner

Career

To read more, visit: whitecase.com/people/manuel-groenewold


Mexico

Banking and finance

Within: Banking and finance

White & Case S.C. undertakes an impressive array of banking and finance deals for a broad client-base. The team is led by Juan Antonio MartĂ­n and Vicente Corta. MartĂ­n has a strong practice in regulatory compliance in the FinTech sector, which he combines with other financing and day-to-day banking work; Corta led on a number of headline transactions, including assisting Banorte in the acquisition of Interacciones’ banking, broker-dealer, insurance and asset manager subsidiaries, through a merger valued at $1.4bn; and Bolsa Institucional de Valores (BIVA), Mexico’s second stock exchange, in obtaining an operating concession title from the Ministry of Finance and Public Credit. In other work, Francisco GarcĂ­a Naranjo acted as counsel for Principal Afore in its full ownership acquisition of MetLife Afore (in conjunction with Corta); and assisted leading Korean bank KEB Hana Bank in obtaining a licence to incorporate a subsidiary multiple banking institution in Mexico (in conjunction with MartĂ­n). In the latter case, GarcĂ­a Naranjo and MartĂ­n were accompanied by MarĂ­a Teresa FernĂĄndez, who also worked on the Banorte and BIVA mandates, and who is an expert in regulatory compliance matters. Key support comes from Sean Goldstein and Manuel Groenewold. Goldstein (who is NYC qualified) covers banking and finance, project finance and equipment leasing; while Groenewold handles general banking and finance, and recently advised clients on regulatory compliance and secured loans. However, the practice group has experienced turbulence, with the early 2018 departures of JosĂ© Ignacio Segura and Iker Arriola to Creel, GarcĂ­a-CuĂ©llar, Aiza y EnrĂ­quez, S.C., and RaĂșl FernĂĄndez to Mayer Brown Mexico, S.C.. The practice’s clients include AltĂĄn Redes, Banco Santander (MĂ©xico), BBVA Bancomer, Citibank, Codere, HSBC Mexico, Proteak Uno, Credit Suisse, BlackRock, The Vanguard Group, CLS Bank, LaSalle Investment Management, Pay Pal, JP Morgan, Morgan Stanley, and Afluenta Afore Sura.

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Bankruptcy and restructuring

Within: Bankruptcy and restructuring

White & Case S.C.’s bankruptcy and restructuring team is one of the market’s most impressive and sizeable, totalling 19 lawyers, including six partners. While a standalone practice, the team works in an integrated manner with the office’s other finance departments – banking and finance, capital markets and real estate – and is also able to draw on the firm’s global network, including insolvency lawyers in the US, which is useful for cases involving American assets or bondholders. The lawyers have the expertise to assist clients with both restructurings and in-court bankruptcies and have acted on some of the more important cases of the last years, such as the court-assisted liquidation of OceanografĂ­a (in which the team represented SAE as receiver), and in the court-assisted liquidation of Banco Bicentenario. Recently, the team assisted Banobras with the bankruptcy of infrastructure development company Abengoa MĂ©xico, led by practice head Vicente Corta with partners Álvaro E. Garza-GalvĂĄn and Enrique Espejel. The team further includes partners Manuel Groenewold, who acted on the OceanografĂ­a mandate and who also has a strong banking and finance and capital markets practice, and Maria Teresa FernĂĄndez-Labardini, who covers compliance and acted on the Banco Bicentenario liquidation. Partner Juan Antonio MartĂ­n handles banking and finance, capital markets and real estate. Iker Arriola left to join Creel, GarcĂ­a-CuĂ©llar, Aiza y EnrĂ­quez, S.C..

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Capital markets

Within: Capital markets

Capital markets leader White & Case S.C.’s Mexico office enjoys the competitive advantage of being able to rely on its international network. Particularly active in debt-side work, although with expertise in equity and securitisation as well, the 20-strong team is co-led by Juan Antonio MartĂ­n, Manuel Groenewold and Vicente Corta. The team has been developing its Fibra practice, recently representing ComisiĂłn Federal de Electricidad (CFE), as Mexican and NY counsel, in a MXN$16.387bn issuance – in Mexico and abroad (pursuant to Rule 144A/Reg S) – by the first publicly traded Fibra-E focused on Mexico’s electric transmission sector; and FibraShop on the regulatory procedure to increase the maximum amount of its 2015 short- and long-term dual programme from MXN$5bn to MXN$8bn. The group also continues to assist Bolsa Institucional de Valores (BIVA), Mexico’s second stock exchange, most recently obtaining an operational concession title from the Ministry of Finance and Public Credit (SHCP) in August 2017. In other work, it assisted Citigroup Global Markets, BBVA Securities and Scotia Capital, as initial purchasers of the $260m of senior notes issued by Grupo Cementos de Chihuahua; acted for BNP Paribas Personal Finance as issuer (and BNP Paribas as guarantor), on a fourth peso-denominated issuance of debt securities in the form of CBs (certificados bursĂĄtiles) worth $107m; and, acting in conjunction with the firm’s New York and Miami offices, advised Cydsa as issuer on a $330m senior notes offering under Rule 144A/Reg S. Additional headline matters saw a team led by Corta and Groenewold advise Banorte on its offering of $350m in 5-year, and $550m in 10-year, capital notes; and BBVA Bancomer as underwriter, and Goldman Sachs and 414 EstructuraciĂłn as structuring agents, in the issuance of $29m CKDs by CI Banco and SGMX Administradora de Fideicomisos. Groenewold continued to act for Fondo Especial para Financiamientos Agropecuarios (FEFA), on successive simultaneous multi-tranche offerings of MXN$1.15bn and MXN$2.3bn; MXN$1.656bn, MXN$3.22bn, and MXN$2.024bn; and in a second three-tranche debt issuance for MXN$1.03bn, MXN$1.39bn and MXN$2.18bn. MartĂ­n continued to work for key client CFE on the first and second debt certificate issuances (aggregate value MXN$8bn) under its recurrent issuer MXN$100bn programme; and on the listing on the International Quotation System (SIC) of the Mexican Stock Exchange (BMV) of its $750m offering of notes listed on the Taipei Exchange. New partner Carlos Mainero worked on the GCC and FibraShop deals, while MarĂ­a Teresa FernĂĄndez (former head of the Mexican FDIC –the IPAB– and general counsel of the CNBV) assisted Corta on the BIVA mandate. Relevant support comes from associates Eric Quiles and Simon Micha Kurc. Iker Arriola left to join Creel, GarcĂ­a-CuĂ©llar, Aiza y EnrĂ­quez, S.C.. Other clients include Aeromexico, BlackRock, Citibanamex Casa de Bolsa, Fin Útil, Financiera Independencia, Grupo Aeroportuario del PacĂ­fico, Morgan Stanley, SGFP MĂ©xico, and SociĂ©tĂ© GĂ©nĂ©rale.

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Legal Developments in Mexico

Legal Developments and updates from the leading lawyers in each jurisdiction. To contribute, send an email request to
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