The Legal 500

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Within Banking and finance, Guerrero, Olivos, Novoa y Errazuriz is a second tier firm,

Guerrero, Olivos, Novoa y Errazuriz has an excellent standing in the finance and capital markets sector. It fields a highly experienced banking group that advises Chilean and international financial institutions and corporates on matters related to debt capital markets, investment funds, regulatory matters, bank financing and long-term project financing. Active practitioners in the project finance arena include head of the corporate and M&A team Roberto Guerrero V, who recently paired up with Sebastián Yunge to advise Chilean power company Guacolda on a $318m project financing for the expansion of a coal-fired generating plant. The team is also noted for its expertise advising foreign funds and stockbrokers on derivative products; the very strong José Miguel Ried and Jorge Delpiano have a superb background in this area. One 2012 mandate involved representing Banco BCI and its affiliates in the negotiation of ISDA and general derivatives agreements with a number of financial institutions including JPMorgan Chase, RBS and Bank of Montreal. Delpiano and Yunge assisted Telefónica Chile on its $500m senior notes offering under Rule 144A/Reg. S, one of the largest ever cross-border placements by a Chilean company. Tax specialist Sebastián Guerrero is also busy with financing work and recently assisted Empresas Carozzi on a $60m credit agreement with Banco Itaú.

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Within Corporate and M&A, Guerrero, Olivos, Novoa y Errazuriz is a third tier firm,

Corporate work is a major focus for Guerrero, Olivos, Novoa y Errazuriz, which has over 30 years’ experience in the area advising local and international companies on mergers and acquisitions in Chile. The large and highly competent team is noted for its ability to draw upon the firm’s strength in other practice areas and is frequently instructed on M&A transactions related to mining. The group is also active in the agriculture, retail, finance, insurance and telecoms sectors, among others. The highly regarded Roberto Guerrero V leads the team, which continues to represent Chilean retailer La Polar on its multimillion-dollar corporate restructuring, and recently advised the company on a $280m capital increase. 2012 saw the 28-strong team remain active advising on an array of company sales and divestitures: Jorge Delpiano assisted CGE on the $415m sale of its subsidiary Iberoamericana de Energía Ibener to Duke Energy International; Sebastián Guerrero and Clemente Pérez are advising Indian power company NSL on the purchase of three wind projects in southern Chile; Pedro Pellegrini, who is known to ‘negotiate deals spectacularly well’, represented Chilean fish-feed company Salmofood in the sale of 100% of its shares to a subisdiary of the Peruvian Alicorp; and Juan Enrique Allard is also recommended.

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Within Dispute resolution, tier 4

Guerrero, Olivos, Novoa y Errazuriz’s specialist regulated markets knowledge ensures it is a reliable choice for litigation across regulated industries (energy, banking, finance and telecoms in particular), as well as for real estate and natural resources issues. The firm has a strong ADR and arbitration culture and has experience in representing local investors before the ICSID. In a recent example of its energy experience, the team is representing leading electricity transmission company, Transelec, in a $29m dispute against Hyundai Corporation concerning the construction of a power line. José Ignacio Jiménez was promoted to the partnership in 2013 and heads the ’very responsive’ five-strong team; it gained further administrative disputes expertise with the firm’s recent incorporation of public law specialist Eduardo Cordero.

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Within Environment, Guerrero, Olivos, Novoa y Errazuriz is a second tier firm,

The two-partner team at Guerrero, Olivos, Novoa y Errazuriz has a strong background in energy and natural resources and undertakes the full range of environmental matters including approvals, permits, impact assessments and representation before environmental administrative agencies. Clemente Pérez and newly made-up partner Martín Santa María have been advising Anglo American Sur on a number of environmental strategies and conflicts in relation to the Los Bronces copper project. The pair also assisted Compañía Minera Nova Ventura with an environmental-impact assessment study for the development of a copper-iron mining project in Antofagasta; and Central Illapa on an administrative appeal before the National Environmental Agency to seek approval for its thermo-electric project in Mejillones.

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Within Intellectual property, tier 4

Guerrero, Olivos, Novoa y Errazuriz has an excellent reputation in a wide range of areas and its reputed IP practice is no exception: in 2009 the firm joined forces with Estudio Harnecker’s partnership to create its IP brand: Estudio Garay Guerrero; which is led by Jorge Garay and Felipe Garay. The team has a growing client roster made up of predominantly international clients and handles patent and trade mark matters, with a particular slant towards the latter. It can also call on the firm’s litigation team to process infringement and counterfeiting cases. Recent highlights have included advising Chilean fresh fruit exporter Unifrutti on the registration and protection of its trade marks for its expansion in the Middle East; assisting football club Universidad de Chile on mass-market, counterfeit-product cases; and pulp and paper producer International Paper Company on the registration and protection of its trade marks and patents worldwide.

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Within Projects and infrastructure, Guerrero, Olivos, Novoa y Errazuriz is a second tier firm,

Guerrero, Olivos, Novoa y Errazuriz fields ‘good lawyers who are experts in project financing matters’. The team is praised for its ‘vast experience in the arena’ and for three decades has been advising Chilean and international companies as well as financial institutions on the development and financing of projects in the mining, oil and gas, infrastructure and energy sectors. The ‘experienced’ Sebastián Yunge, who is ‘creative at finding solutions to problems arising from project transactions’, leads the team; to which Clemente Pérez and Martín Santa María add their extensive experience in the public sector and strong regulatory expertise. Among recent highlights, the team advised alternative energy developer Transantartic Energía on the cutting-edge project financing of a wind farm in the Los Lagos region, the first of its kind to be financed without a PPA. It also assisted CAP with the $180m financing for the development of a water desalinisation facility in Chile’s northern desert region to provide water to mining facilities. Pedro Lyon is also recommended.

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Within Real estate, Guerrero, Olivos, Novoa y Errazuriz is a third tier firm,

Full-service firm Guerrero, Olivos, Novoa y Errazuriz offers both litigation and advisory services, and regularly counsels on real estate sales and acquisitions, zoning regulations, urban planning and project development. Local and foreign investment funds and real estate developers form the bulk of its client base in this sector. 2012 was a busy year for the team, one highlight being its advice to German real estate fund management group, GLL Real Estate Partners, on its $105m acquisition of a Class A office building in Santiago through a Promise to Sell Purchase agreement executed via a Chilean SPV. It also assisted Chilean real estate developer Inmobiliaria y Constructora Amunátegui with its $45m sale of a Santiago office building to private investment fund CELFIN. On the contentious side, the firm successfully represented Inmobiliaria ABSAL in a case brought by the owners of a nearby property in relation to a residential building project. The highly regarded Martín Santa María heads the team.

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Within Tax, tier 4

Guerrero, Olivos, Novoa y Errazuriz continues to focus on growing its tax practice under the leadership of name partner Sebastián Guerrero. The six-strong team concentrates on advising on the tax aspects of corporate transactions including M&A, restructurings and tax planning. The arrival of tax specialist Carolina Fuensalida has ensured the tax group has continued to go from strength-to-strength, since she has considerable experience in both the public and private sectors. The team also represents clients in proceedings before the Chilean tax authorities. In 2012, the team has advised Indian wind energy company NSL on tax and corporate structures for the $600m purchase of wind farm in southern Chile. Other clients include Deutsche Bank, Empresas Carozzi, La Polar and BlackRock.

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Within TMT, Guerrero, Olivos, Novoa y Errazuriz is a second tier firm,

Guerrero, Olivos, Novoa y Errazuriz has built a distinguished TMT practice that covers corporate operations, regulatory and compliance matters as well as client representation before the country’s telecommunications regulatory agency. The firm prides itself on providing a full-service offering to its technology, communication and high-tech provider clients, which it advises on all relevant support areas including corporate matters, commercial, tax, labour, IP and regulatory issues. Team head Juan Enrique Allard’s 2012 workload included assisting TuVes on the regulatory and contractual issues regarding the launch of a new satellite pay-TV system, as well as its expansion in Uruguay, Ecuador and Bolivia. He is also regular counsel to Bloomberg, Yahoo! and Western Union International for day-to-day TMT issues.

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Chile: Energy and natural resources

Within Electricity/oil and gas, Guerrero, Olivos, Novoa y Errazuriz is a second tier firm,

Guerrero, Olivos, Novoa y Errazuriz’s Clemente Pérez is deeply involved in the Chilean renewable energy sector, and also has extensive experience in assisting leading traditional power companies such as Transelec and Abengoa. 2012 highlights included assisting alternative-energy developer Transantartic Energía with the project financing of the San Pedro wind farm in Los Lagos, the first of its kind to be financed without a PPA in Chile. In other work, the team advised the government of the United Kingdom on regulatory and other legal aspects in relation to prospective investments in the marine energy sector; and assisted Chilean energy company Energía Baquedano with water-use rights and other matters in relation to the development and implementation of a run-of-river hydroelectric power plant. The team is also very active on the solar energy front and well versed in negotiating carbon credit purchases, still a novel transaction in the country.

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Within Mining, Guerrero, Olivos, Novoa y Errazuriz is a second tier firm,

Guerrero, Olivos, Novoa y Errazuriz is well versed in mining-related foreign investment and M&A, project finance, corporate, due diligence processes and tax structures. The firm strengthened its mining area with the promotion of ‘the deal-oriented’ Pedro Lyon to the partnership in January 2013. Not only a ‘great commercial lawyer’, Lyon is an expert on Chinese law and esteemed for his ‘technical knowledge and warmth towards his clients’. He leads a six-strong team which includes Marco Zavala – ‘a quick and commercially savvy’ senior associate who ‘combines a high level of legal expertise with an in-depth knowledge of the mining industry in Chile and other Latin American countries’; and fellow partner and mining expert, Arturo Marín. The team offers ‘high-level quality advice’ to local and foreign mining investors and companies, and is ‘very good’ in terms of ‘depth of legal understanding and knowledge of the main players in the industry’. Recent highlights have included advising Chinese investor Simbalik Group on the development of a $150m lithium mining project in the Atacama desert; and British company London Mining on a due diligence process to acquire a $400m controlling stake in leading Chilean iron ore producer Compañía Minera Santa Fe.

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