Kuri Breña, Sánchez Ugarte y Aznar > Mexico City, Mexico > Firm Profile

Kuri Breña, Sánchez Ugarte y Aznar Offices

Kuri Breña, Sánchez Ugarte y Aznar
PROL PASEO DE LA REFORMA 1015, TORRE B, PISO 8
COL DESARROLLO SANTA FE
CP 01376 MÉXICO, DF
Mexico
Visit website 52 55 5292 5930

Kuri Breña, Sánchez Ugarte y Aznar > The Legal 500 Rankings

Mexico > Capital markets Tier 2

Kuri Breña, Sánchez Ugarte y Aznar‘s capital markets practice specialises in advising bond issuers and financial intermediaries on the design and implementation of securitisation structures for several kinds of assets, in addition to issuances of equity and debt instruments. Founding partner Daniel Kuri Breña, who designed and implemented the first securitisation of trade receivables in Mexico, co-leads the practice; he specialises in securitisations and other structured financing transactions. Alongside him, Álvaro Sarmiento Lapiedra handles structured financing transactions and the issuance of debt instruments, as do Miguel Vallejo (promoted to partner in February 2022), and of counsel José Alejandro Casas Farías. Since publication, Sarmiento has left the firm (effective January 2024).

Practice head(s):

Daniel Kuri Breña Romero de Terreros; Miguel Vallejo Guerra

Testimonials

‘Mastery of the subject of capital markets, excellent follow-up and communication.’

‘Efficiency to resolve doubts or unforeseen events. Daniel Kuri Miguel Vallejo.’

‘In my opinion, Kuri-Breña, Sánchez-Ugarte y Aznar is the law firm that best understands all the legal, business and financial aspects of structured financing in Mexico.’

‘We’d highlight the following: 1. extensive and detailed knowledge of structured financing; and 2. professionalism in the times and quality of their deliverables.’

Key clients

AB&C Leasing de México

Financiera Bepensa

Consubanco (Institución de Banca Múltiple)

Fimubac

Corporación Financiera Atlas

Unirenta Arrendamientos

HR Ratings de México

Work highlights

  • Advised AB&C Leasing de México on the structuring and implementation of a securitisation of accounts receivable deriving from lease agreements.
  • Advised Financiera Bepensa on the structuring and implementation of a short and long-term notes programme.
  • Advised Consubanco and Institución de Banca Múltiple on the structuring and implementation of a long-term bank notes issuance.

Mexico > Banking and finance Tier 3

The key strengths of the banking and finance practice at Kuri Breña, Sánchez Ugarte y Aznar lie in structured and asset-backed financing, project finance and real estate financing. The nine partner-strong team has additional expertise in representing Mexico’s development banks. Four partners head up the practice group: Guillermo Garay specialises in public and private biddings, cross-border financings and securitisations; Rodrigo López Márquez contributes expertise in financings, financial regulation and fintech; Alejandro Sobarzo Hadad is skilled at the issuance and placement of equity and debt instruments for companies through the Mexican stock exchange; and Álvaro Sarmiento Lapiedra focuses on structured financing. Bernardo Luna Gutiérrez and founding partner Daniel Kuri Breña, along with key associates Silvia Roldán and Alfonso Alfaro Rincón Gallardo, are additional names to note. Since publication, Sarmiento has left the firm (effective as of January 2024).

Practice head(s):

Guillermo Garay Espinosa; Rodrigo López Márquez; Jorge Alejandro Sobarzo Hadad

Key clients

Arrendamiento y Soluciones en Activos (Arrendamás)

Sistema de Crédito Automotriz

FGI Worldwide

Banco Itaú Uruguay

Banco Mercantil del Norte (Banorte) and Banco Nacional de Obras y Servicios Públicos (Banobras)

Vitro

Tangerine Pomelo Group

Banco Nacional de México, integrante del Grupo Financiero Banamex, División Fiduciaria

Banco Nacional de Comercio Exterior (Bancomext)

Scotiabank Inverlat

BMO Harris Bank

Huf

Work highlights

  • Advised FGI on the due diligence, negotiation, and execution of a sale of accounts and security agreement to a value of $15m.
  • Advised FGI on the due diligence, negotiation, and execution of a revolving credit, receivable purchase and security agreement.
  • Advised Tangerine Pomelo Group on the structuring and negotiation of two credit agreements for the amounts of MXN$3bn and $300m.

Mexico > Corporate and M&A Tier 4

Fielding ‘a robust, professional team’ that provides ‘close and adequate monitoring of projects and customer needs’, Kuri Breña, Sánchez Ugarte y Aznar‘s well-established 15-strong practice that advises on matters ranging from M&A, joint ventures, private equity, venture capital and cross-border transactions, to general corporate matters – particularly in relation to the real estate, energy, manufacturing, banking and automotive sectors. Indeed, clients highlight the practice group’s ‘incredible knowledge of the corporate and stock market world’, and also note how the practice has proved adept at remaining abreast of the constant evolution of the M&A market so as to meet all client expectations. The practice is co-led by founding partner Daniel Kuri Breña, whose corporate practice is centred on joint ventures, M&A (particularly on behalf of funds), private equity and venture capital investments; Luis Octavio Núñez, who also handles M&A, private equity, venture capital and joint ventures – particularly in relation to the real estate and development, manufacturing and finance sector; and antitrust specialist Jesús Sánchez Ugarte (also a co-founding partner) who focuses on M&A and financings. Additional bench depth is provided by corporate and finance partner Álvaro Sarmiento Lapiedra; with younger partner Silvia Ema Roldan, who was raised to the partnership in July 2023, rounding out the partner level team. Key support is provided by senior associate Álvaro Alan Pérez; and intermediates Daniel García Hernández (who returned to the firm from an in-house position in mid-2022), and Elizabeth Tovar, who focuses on real estate-related matters.

Practice head(s):

Daniel Kuri Breña; Luis Octavio Nuñez Orellana; Jesús Sanchez Ugarte

Testimonials

‘Daniel and Alvaro are very professional people who handle matters with great integrity and seriousness. They are unique in Mexico for their corporate approach.’

‘Incredible knowledge of the corporate and stock market world.’

‘The practice of M&A is constantly evolving and requires professionals to be on top of market trends, and especially in the field of technology. Kuri Breña’s team has always met all our expectations in the cases in which they have assisted us.’

‘I’d highlight Jesus Sanchez Ugarte, Iker Gonzalez Luna and Gabriela Orvañanos Espinosa. It is a robust, professional team with close and adequate monitoring of projects and customer needs.’

Key clients

Promotora de Hospitales y Servicios Integrales

Automotriz Coacalco

Globant

Work highlights

  • Advised the shareholders of Promotora de Hospitales y Servicios Integrales, as sellers, on the negotiation of a stock purchase agreement entered into with Bupa Servicios de Evaluación Médica and Vitamédica Administradora, whereby the purchasers acquired 100% of Promotora’s capital stock.
  • Advised Automotriz Coacalco Vallejo in the due diligence, negotiation and execution of an Asset Purchase Agreement.

Mexico > Real estate

Kuri Breña, Sánchez Ugarte y Aznar > Firm Profile

Kuri Breña, Sánchez Ugarte y Aznar is a leading corporate law firm located in Mexico City that provides efficient, dynamic and personal services with a business perspective. Since its foundation in 1990, it has implemented some of the largest Mexican privatisations in the financial and industrial sectors; it has taken part in the design of important infrastructure projects and has conducted the negotiation and implementation of some of the most important financial restructurings in Mexico.

The firm has robust tax and antitrust capabilities led by a highly regarded tax specialist and the former president of the Antitrust Regulatory Commission. With high ethical standards and commitment, the firm participates in the negotiation and implementation of mergers and acquisitions, private equity transactions, financings and equity and debt offerings in the public markets. The firm constantly innovates in structured financing and real estate transactions, as well as in antitrust matters.

Main areas of practice
Mergers and acquisitions: The firm takes an active role in the structuring and implementation of mergers, equity acquisitions, and the purchase and sale of going concerns. The firm offers services such as the preparation and negotiation of contracts, obtaining corporate authorisations, compliance with regulatory requirements and, in general, all aspects necessary to implement and close such transactions. The firm frequently advises clients in matters related to venture capital investments, private equity investments and in the implementation of other investment mechanisms, as well as in the sale of equity participations of such clients in Mexican companies.

Banking, structured finance and restructuring: The firm engages in the drafting, negotiation and closing of credit agreements, debt restructuring agreements, financing plans, as well as other types of contracts related to project and bank financing. The firm has been involved in important securitisation and restructuring transactions concerning multinational companies as well a large number of states and municipalities.

KSA advises domestic and international financial institutions in all their commercial activities, as well as in corporate governance matters. The firm also works with foreign banks and other financial institutions in matters related to their operations in Mexico, including the establishment of representative offices and subsidiaries.

 Securities: The firm advises Mexican companies and sovereign entities in the issuance of debt and equity securities, in Mexico, and in the international markets, in public or private placements. The firm has also advised groups of shareholders of Mexican companies in secondary offerings. In this area, the firm participates in securing the required approvals from the National Securities and Banking Commission and the listing of the securities. The firm performs due diligence, and participates in the drafting of offering memoranda, prospectus and other offering materials, negotiation of underwriting agreements, indenture trusts indentures and other related documents. The firm also advises issuers in connection with their reporting obligations and ruling requests.

 Real estate: The firm is involved in a variety of transactions related to the acquisition, sale, lease and development of real estate, including the financing and securitisation of cash flows originating from real estate properties.
The firm’s experience includes the design and implementation of legal structures for the purchase, sale or lease of real property for resorts, as well as for commercial or industrial purposes, using structures such as trusts, ‘sale and lease-back’, usufruct and development and management agreements, among others.

Antitrust and international trade: The firm has experience in anti- trust matters and has represented domestic and international clients in important cases before the Federal Antitrust Commission, related to mergers, acquisitions and investigations on monopolistic practices. The firm has also developed an important practice on international trade, including the representation of Mexican and foreign companies in connection with investigations on predatory commercial practices and subsidies. The practice includes the participation in procedures before the Ministry of Economy and international panels.

Infrastructure: KSA has represented both international and domestic clients in infrastructure projects including energy, telecommunications, toll roads, mining and steel industries and in securing all governmental approvals necessary to operate or finance these projects, including setting up partnerships or joint venture agreements and corporate structures for financing and investment.

Foreign investment: KSA is usually involved in drafting and negotiating all kinds of agreements to structure business combinations, joint ventures, shareholders agreements and other documentation in connection with the participation of foreign investors in business entities.

Arbitration and alternative dispute resolution: The arbitration practice includes advising clients in all phases of arbitration proceedings and, if necessary, coordination of attorneys with experience in other areas of law, based in Mexico or abroad. The attorneys of the firm advise clients in arbitration proceedings conducted through the International Chamber of Commerce and other organisms of high reputation.

Tax consulting: With a team of recognized experts in tax consulting, the firm advises clients on the tax matters that arise on a daily basis in their businesses. The firm also advises clients in tax consulting regarding mergers and acquisitions, corporate restructuring, financing and other operations, both domestic and international.

Tax and administrative litigation: The firm has experience advising clients in the implementation of defensive measures against tax authorities, including the use of revocations, annulments, appeals and constitutional remedies. The firm defends its clients against disputes arising from governmental activities through any public agency, including those derived from public contracts, the granting of concessions, authorisations or the imposition of fines and other sanctions. The firm’s services include handling review procedures by tax or administrative authorities that give rise to actions affecting its clients.

Procurement and compliance: The team has advised government or public entities through whole tender processes. It has advised on appropriate procurement mechanisms, assisted in drafting tender documentation, and provided advise in legal issues that arise when the tenders are evaluated. For private entities, the firm assisted on responding to government tenders, preparing submissions, and negotiating various government contracts. The Compliance practice focuses on anti-bribery, anticorruption, anti-money laundering and data protection. The firm advise entities in specific issues once they arise as well as risk prevention, by reviewing current practices, developing and implementing enhanced compliance processes, and monitoring the changes and improvements.

Fintech: Kuri Breña, Sánchez Ugarte y Aznar regularly advises domestic and international crowdfunding platforms, digital wallets, challenger banks, exchanges, payment facilitators and private equity and venture capital funds, as well as commercial banks and non-bank financial institutions involved in the Fintech sector. Our services include advice on regulatory and compliance matters under the Mexican Fintech Law and regulations, applications and related filings to obtain authorization from the Mexican regulator to operate as a fintech entity, and general corporate and contractual matters.

Main Contacts

Department Name Email Telephone
Securities Daniel Kuri Breña Romero de Terreros dkuribrena@ksa.mx
Infrastructure and Procurement Bernardo Luna Guerrero bluna@ksa.mx
Banking, Structured Finance and Restructuring Alejandro Sobarzo Hadad asobarzo@ksa.mx
Mergers and Acquisitions Guillermo Garay ggaray@ksa.mx
Real Estate Luis Octavio Núñez Orellana lnunez@ksa.mx
Antitrust and International Trade Jesús Sánchez Ugarte jsanchez@ksa.mx
Tax Consulting and Tax & Administrative Litigation Julio Freyssinier Isoard jfreyssinier@ksa.mx
Fintech Rodrigo López Márquez rlopez@ksa.mx

Staff Figures

Partners : 9
Total staff : 33

Languages

English
Spanish

Memberships

ICC
TAG Law