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3477 ISIDORA GOYENECHEA AVENUE, 19TH FLOOR, 7550106 LAS CONDES, SANTIAGO, CHILE
Tel:
Work +56 2 2472 7000
Fax:
Fax +56 2 2472 7001
Web:
www.moralesybesa.com

Chile

Banking and finance
Banking and finance - ranked: tier 1

Morales & Besa

Advising major lenders, borrowers, guarantors and collateral agents, Morales & Besa’s ‘excellent team consistently impresses with its top-level service’. The team acts in a wide variety of banking and financial transactions, including syndicated loans, project finance and restructuring, in sectors such as natural resources, retail, public infrastructure, energy, oil and gas, and utilities. On the non-transactional side, the team assists with licensing, regulatory matters and compliance. Myriam Barahona, whose broad experience covers infrastructure and energy project-finance, bank finance, investment funds and the capital markets, advised Banco de Crédito e Inversiones and Itaú Corpbanca on the restructuring of listed-company Cementos Bío Bío’s current debt and a new facility to finance working capital. Barahona ‘provides good planning from a time and structure standpoint’. Other matters saw the team advise Banco Santander-Chile on the financing of the VAT costs associated with the construction of two wind farms. In other areas, José Miguel Carvajal, who has extensive experience in loans, bond offerings, securitisation, foreign investment and foreign exchange matters, assisted Forum Servicios Financieros, part of BBVA Group, with filing 12 series of commercial papers with the Chilean securities market regulator. Guillermo Morales, Carlos Silva and Matías Langevin are all highly regarded; as is the ‘very savvyEugenio Besa. Ignacio Delpino and Ignacio Menchaca G are key senior associates.

Leading lawyers

José Miguel Carvajal - Morales & Besa

Myriam Barahona - Morales & Besa

Next generation lawyers

Ignacio Delpino - Morales & Besa

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Competition and antitrust
Competition and antitrust - ranked: tier 3

Morales & Besa

Morales & Besa has been active, recently, advising on the country’s new pre-merger control regulations, as well as assisting with complex cases brought before the Competition Tribunal by the FNE. Supported by senior associate and practice head María José Henríquez, the well-regarded Gonzalo Cordero led advice to Spanish toll roads and infrastructure operator, Abertis Infraestructuras, on the pre-merger filing resulting from Italian toll road manager Atlantia’s public tender offer for the company, which was subsequently overtaken by a counterbid by ACS Group subsidiary, Hochtief, for which the team also handled the filing. The practice group’s growing workload saw the firm hire Claudia Arce O from the FNE’s litigation and anti-cartel division in early 2018.

Next generation lawyers

María José Henríquez - Morales & Besa

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Corporate and M&A (including compliance)
Corporate and M&A (including compliance) - ranked: tier 2

Morales & Besa

Regularly acting in private and public acquisitions, Morales & Besa’s practice handles mergers, tender offers, hostile takeovers, and capital markets matters. Recent matters saw Michel Diban lead advice to Accel-KKR group on its $120m acquisition of the I-Med Group; while on the capital markets front Guillermo Morales led on two series of global debt offerings, totalling $1.54bn and €700m (2017), and $2bn and €830m (2018), respectively. In other matters, Macarena Laso acted for Team Foods Colombia, through its Chilean subsidiary BredenMaster, on the sale of its bakery business line to Grupo Castaño. Eugenio Besa and Carlos Silva are additional principal contacts. José Miguel Carvajal - Matías Langevin and Álvaro Barriga, along with senior associate María Teresa Manubens B, are also highly regarded.

Leading lawyers

Guillermo Morales - Morales & Besa

Next generation lawyers

Macarena Laso - Morales & Besa

María Teresa Manubens B - Morales & Besa

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Dispute resolution
Dispute resolution - ranked: tier 4

Morales & Besa

Morales & Besa’s ‘top-notch legal team’ is experienced in disputes involving construction, consumer protection issues, administrative law and post-M&A matters. The team’s recent highlights include acting for Grupo Corona in a series of claims filed by Agencias Briner Corredores de Seguros (both in the civil courts and in arbitration) for alleged, unpaid fees and damages resulting from an association agreement. Gonzalo Corderohas a very practical approach’.

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Environment
Environment - ranked: tier 3

Morales & Besa

Morales & Besa hired senior associate and new head of the firm’s environmental department Paloma Infante M from the Ministry of the Environment, where she formerly led the legal division and environmental regulation department. The team assisted Parex Chile with submitting an administrative claim for an environmental permit amendment, regarding a nitrogen oxide compensation plan.

Next generation lawyers

Paloma Infante M - Morales & Besa

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Labour and employment
Labour and employment - ranked: tier 3

Morales & Besa

Morales & Besa’s ‘quick and effective’ Fernando Arab specialises in workplace, social security and immigration issues, including labour disputes and contractual and corporate matters involving individual and collective labour law. The team successfully acted for Iron Mountain Chile in litigation regarding alleged anti-union practices. Rodrigo Sanhueza and Angelina Migliorelli R are notable senior associates.

Leading lawyers

Fernando Arab - Morales & Besa

Next generation lawyers

Rodrigo Sanhueza - Morales & Besa

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Projects and infrastructure
Projects and infrastructure - ranked: tier 1

Morales & Besa

Morales & Besaprovides very quick response times and excellent value for money and industry knowledge’. The team advises significant developers, banks and other financial institutions in the infrastructure and energy sectors, handling the structuring and managing of public work concession contracts, the obtaining of authorisations and permits, along with bidding processes and financing transactions. Recent mandates saw Carlos Silva lead advice to Italy’s Astaldi on the public bidding process for a PPP dam in Chile’s Valparaíso region. Myriam Barahona, who ‘has a lot of experience and always resolves problems’, is highlighted; other key practitioners include José Miguel Carvajal - Macarena Laso, Eugenio Besa and Matías Langevin. The partners can also call on a genuinely strong senior associate bench where Sebastián Leyton, Ignacio Delpino, Ignacio Menchaca G, Javier Balbontín H and James Channing E are all noteworthy.

Leading lawyers

Carlos Silva - Morales & Besa

Next generation lawyers

Sebastián Leyton - Morales & Besa

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Real estate
Real estate - ranked: tier 3

Morales & Besa

Morales & Besa’s recently acted for Banco Bilbao Vizcaya Argentaria (Chile) and Banco Security, as lenders, in CD Las Acacias’ acquisition financing for real estate assets in Santiago; the advice included the due diligence of real estate titles and negotiation of transaction agreements. Carlos Silva and Macarena Laso are highly regarded, as is senior associate James Channing E.

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Tax
Tax - ranked: tier 4

Morales & Besa

Morales & Besa devises and implements creative tax solutions for foreign direct investments and cross-border financings, with a particular focus on project finance deals in the energy and infrastructure sectors. The team also assists with planning, tax compliance and tax litigation. Francisca Pérez and senior associates María José Becker S and Jaime Rosso G are the names to note.

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Chile: Energy and natural resources

Electricity/oil and gas
Energy and natural resources: electricity - ranked: tier 2

Morales & Besa

Morales & Besa’s Carlos Silva advises several infrastructure and energy project developers on the structuring and financing of their projects; managing partner Eugenio Besa is also a primary contact for energy matters. Recent matters include advising WPD Chile on structuring wind farm projects; and acting for X-Elio (formerly known as Gestamp Solar) on the negotiation and drafting of interconnection agreements for a photovoltaic (PV) project.

Next generation lawyers

Sebastián Leyton - Morales & Besa

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Further information on Morales & Besa

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Chile

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