Corporate and M&A in Argentina
According to some, Marval O’Farrell Mairal is the ‘gold standard for M&A in Argentina’. The sizeable group ranks among the region’s largest dedicated corporate departments and stands out for its ‘broad knowledge in the majority of subjects’ and its ability to ‘lead on any local or international M&A transaction’. Certainly, the firm can turn its hand to deals in any industry and possesses first-class experience in the full range of transactions, from company incorporations and joint ventures, through to major M&As and restructurings. A key contender for regional and multi-jurisdictional matters, the team’s cross-border prowess was recently demonstrated by its advice to Japan-based SoftBank on its $1bn investment in food start-up Rappi, which represented the largest ever investment in a Latin American tech start-up. Other strings to its bow include its ability to lean on top-tier tax, competition and finance practices for support on high-end transactions. Among the names to note, corporate head Pablo Artagaveytia is a powerhouse on the M&A front and has a strong record in coordinating regional deals. Pablo Viñals Blake is another heavy hitter and spearheads the private equity, venture capital and agribusiness groups. Banking and finance head Santiago Carregal is also a leader on the corporate side and has ‘exceptional commercial sense’. Other experienced names included seasoned senior partner Héctor Mairal, real estate-focused partner Hernán Slemenson, M&A specialist Pablo Garcia Morillo and Diego Krischcautzky, who combines strength in M&A and private equity and led on the SoftBank deal. Diego Chighizola is a talented up-and-coming partner, with an emphasis on the agribusiness, energy and real estate areas, while María Laura Bolatti Cristofaro is a capable associate and supported on the SoftBank deal.
‘The gold standard for M&A in Argentina; few firms have their expertise or resources.’
‘Their strengths are their experience and expertise. They differentiate themselves from their competitors through the quality and speed of their responses; the detail in their work; and their availability to respond to the client’s requests.’
‘The group stands out for its knowledge of corporate matters. It is an excellent team which can lead on any local or international M&A transaction.’
‘They have broad knowledge in the majority of subjects.’
‘Santiago Carregal stands out as one of the most knowledgeable lawyers in the market, with exceptional commercial sense.’
‘Diego Krischcautzky and Macarena García Mirri are outstanding partners.’
‘An excellent team led by Diego Krischcautzky.’
Turner – Time Warner
EMS Capital (Edmond Safra)
Banco do Brasil
Diagnósticos da América (DASA)
- Acted for Japan’s SoftBank on its $1bn investment in Colombia-based food start-up Rappi to acquire a 30% stake in the company.
- Advised Argentine biotech group Bioceres on a $456m share exchange agreement with private equity-owned Union Acquisition Corporation.
- Acted for General Electric, through its subsidiary EFS Global Energy, on the transfer of its 24.99% stake in YPF Energia Electrica to the BNR Infrastructure Co-Investment joint venture.
- Advised Brazil-based medical diagnostics company, Diagnósticos da América on the purchase of Diagnóstico Maipú.
- Acted for Sumitomo Chemical Company on the acquisition of Nufarm’s business in Argentina and the LatAm region.
The ‘excellent M&A team’ at Beccar Varela stands out for its ‘closeness to the client’, ‘full understanding of the business’ and ability to provide ‘effective solutions to complex problems’. According to sources, the entrepreneurial group has ‘revitalised itself over the last few years’ and it continues to carve out a new space in the upper echelons of the market. An active player in both national and cross-border M&A, the firm advises both buyers and sellers on sophisticated transactions across all industries. Among its strong suits, it is particularly active in the energy, agribusiness and technology -particularly fintech- spheres. In a recent example of its signature strength, the group advised Argentinean payments company Prisma Medios de Pago on its $724m sale of a 51% stake in the company to Advent International. Roberto Crouzel co-heads the corporate and M&A department and his much-admired transactional practice spans a range of M&A, general corporate and banking matters. The group is co-led by natural resources head Roberto Fortunati, who also co-leads the banking team, and is well versed in deals relating to the mining, energy and oil-and-gas industries. Other experienced names include agribusiness specialist Ramón Moyano, private equity head Tomás Allende and corporate finance partner Alejandro Poletto. Increasingly prominent up-and-coming partner María Shakespear is also a key contact and is highlighted, together with associate Carolina Serra, as ‘excellent at conducting complex negotiations’.
‘Beccar Varela is one of the firms that is recognised by the market in this area, as well as being a longstanding firm that has revitalised itself over the last few years.’
‘The team has very solid knowledge at a technical legal level, as well as at a financial and business level. They understand the client’s needs and work alongside them throughout the transaction, achieving effective solutions to complex problems.’
‘The team differentiates itself from its competitors through its availability, closeness to the client, full understanding of the business and assistance in decision making.’
‘Beccar Varela has an excellent M&A team, in which María Shakespear and Carolina Serra stand out.’
‘María Shakespear and Carolina Serra are both excellent at conducting complex negotiations, with a focus on business and keeping the client’s interests in mind.’
‘The team, led by Ramón Moyano, showed a high level of pragmatism in understanding the complexities of the matter. I have come across nearly all the M&A advisers in the market at some point and there are few partners who have Ramon Moyano’s ability to render the client’s requirements effectively.’
Prisma Medios de Pago
J R Simplot Company
Comcast / NBC Universal / Telemundo
BNR Infrastructure Co-Investment Limited
IFC – International Finance Corporation
Banco de Galicia y Buenos Aires (Banco Galicia)
Juan Pablo Georgalos and María Consuelo Acuña
PGG Wrightson Seeds South America
- Advised Prisma Medios de Pago and the sellers on Advent International’s acquisition of a 51% stake in Prisma.
- Acted for YPF Ventures on the acquisition of a strategic stake in Sustentator.
- Advised Italgas, and the Renda family, on the $23m acquisition from Raízen Argentina and Raízen Energina of all shares in Raízen Gas.
- Acted for JR Simplot on its acquisition of 25% of Simplot Argentina, San Fili, Campos Los Ranchos and Simplot do Brasil Alimentos.
- Advised Platinum Equity on the local aspects of its $630m acquisition of Lonza’s water care business
Mitrani Caballero & Ruiz Moreno Abogados is best known for its sterling track record in sophisticated cross-border M&A. The group is routinely called upon by Techint subsidiaries — particularly Tenaris, Ternium and Tecpetrol — to advise on major, multi-jurisdictional transactions, such as its recent work for Tenaris on its $1.2bn acquisition of US-based IPSCO Tubulars from Russian steel pipe manufacturer, PAO TMK. That said, the group has built up a diverse portfolio of local and foreign clients, which is particularly well represented in the energy, agribusiness and food industries. The firm’s first-class M&A offering is supported by capability in private equity, venture capital, corporate compliance and general corporate matters, and it also benefits from its ability to draw on solid cross-practice support internally. Cristian Mitrani leads the corporate and M&A department and is widely recognised as a leading light. Diego Parise is also a high-profile figure and brings to bear deep expertise in transactional and regulatory matters — he co-led the Tenaris deal alongside Juan Ignacio Soma. Siro Astolfi specialises in corporate and competition law and is noted for his strong experience in cross-border matters. Aixa Sureda, who also focuses on corporate and competition matters, impresses with her expertise in complex transactions. Corporate-focused associate Fiorella Belsito is also recommended.
CNH Case New Holland
Grupo Alfa / Alpek
Hans Peter Bauer
Haras Don Alberto
Hutchinson Ports / BACTSSA
Lithium Power / Lithium S 2
MMA (Manufactura de Motores Argentinos)
Mitsui & Co
Robert Bosch Argentina Industrial
Southern Cross Group
The Dow Chemical Company
Toyota Tsusho Corporation
Viesgo (formerly E.On)
- Advised Southern Cross Group on its $200m joint investment with Vista Oil & Gas and Riverstone to create Aleph Midstream.
- Acted for Asterion Industrial Partners on its €550m acquisition of a portfolio of data centres from Telefónica.
- Advised private equity fund, The Jordan Company, on its acquisition of Anchor Packaging from Hermann Companies.
- Acted for Tenaris on its $1.2bn acquisition of US-based IPSCO Tubulars from Russian steel pipe manufacturer, PAO TMK.
- Assisted Echo Energy with its acquisition of a 70% undivided interest in five non-operated oil and gas concessions from Petrolera El Trébol, a subsidiary of Phoenix Global Resources.
Pérez Alati, Grondona, Benites & Arntsen’s team is distinguished by its ‘absolute commitment to the client’, ‘practical advice’ and ‘thorough knowledge of the law’. The firm represents a comprehensive mix of clients on M&A and corporate matters, from entrepreneurs and start-ups, through to private equity funds and public companies. An active participant in deals across all of Argentina’s core business industries, the team had a strong recent run in the energy, agribusiness and retail sectors. It is also well known for its record in multi-jurisdictional regional deals, such as its recent advice to CVC Brasil Operadora e Agência de Viagens on its $77m acquisition of tourism company Almundo, which spanned operations in several Latin American countries. Pedro Eugenio Aramburu, who provides ‘practical legal advice’, led the CVC deal and advises on a wide range of M&A, private equity and corporate finance matters. Santiago Daireaux is widely regarded as one of the leading transactional lawyers in Argentina and specialises in domestic, regional and international M&A and financing transactions. Other key contacts include founding partner Jorge Pérez Alati, who co-leads the practice together with Aramburu and Daireaux, banking and finance specialist Diego Serrano Redonnet and general practice partner Mariano Grondona. Associate Pedro Menéndez San Martín is also focused on corporate matters.
‘They stand out for their availability and absolute commitment to the client. They also provide practical advice and have a thorough knowledge of the law.’
‘They know our company and the business we develop. They know the law thoroughly, and also by integrating a full-service offering, they provide us with comprehensive advice and anticipate the legal problems derived from the decisions we make. In this sense, they stand out from their competition.’
‘The corporate and M&A team is very accessible and fully committed to the client.’
‘I highlight the partner Pedro Eugenio Aramburu, who coordinates and leads the area. He is very intelligent and provides practical legal advice and is always available.’
Phoenix Global Resources
First Data Corporation
- Advised CVC Brasil Operadora e Agência de Viagens on its $77m acquisition — through its subsidiary, Submarino Viagens — of Almundo from Spain-based Iberostar.
- Acted for Brazil’s BRF on the $35m sale of its Argentina-based subsidiary Campo Austral. As part of the transaction, and as a condition to closing, it also advised BRF on Campo Austral’s sale of its Calchaquí brand of business.
- Advised Argentina-based Satus Ager on the acquisitions of Tecnoseeds in Argentina, and also on Tecnoseeds Brasil Administracao & Participacoes, and ITP Beneficiamento Sementes in Brazil, totalling $80m.
- Represented Genneia on its agreement with Pan American Fueguina to jointly construct the Chubut Norte III and Chubut Norte IV wind farms.
- Advised Phoenix Global Resources on the sale to Echo Energy of its 70% non-operated working interest in five exploitation concessions in Santa Cruz.
With the firm celebrating its 30th anniversary, Bruchou, Fernández Madero & Lombardi’s leading presence in the financial-services sphere continues to translate into an M&A practice that excels in transactions that blend corporate and finance expertise. Additionally, the group’s position in energy M&A has impressed over the past year, due to its close links with major players such as Vista Oil & Gas, Equinor and Pan American Energy. In a key example of both of its sweet spots, the team recently advised Vista Oil & Gas on its investment agreement with Riverstone, Southern Cross and other investors to create Aleph Midstream, which will become the first Argentine midstream company focused on Vaca Muerta; Vista will contribute the majority of its midstream assets in the basin in exchange for a 21.6% equity interest. Founding partner Enrique Bruchou has a strong profile for M&A and banking work and is highly regarded in the market. Energy head Javier Rodríguez Galli, who led the Vista deal, is recognised for his record in oil-and-gas transactions, while practice head Mariano Luchetti -a recent appointment to the firm's Executive Committee- has a focus on electricity matters. Among the up-and-coming partners Exequiel Buenaventura had a strong year and was at the helm for deals for Iberostar Group and Pan American Energy. Pablo Falabella is noted for his emphasis on advising investors in distressed M&A. Estanislao Olmos and senior associate Pilar Marcó are also recommended. In an additional development, the firm hired former IMPI president Dámaso A Pardo, and Paula Fernández Pfizenmaier (from Estudio Randle) in August 2020 to head up the firm's new Intellectual property, data privacy, new technologies and advertising department, further broadening its service offering.
Vista Oil & Gas
Pan American Energy
- Advised Vista Oil & Gas on its investment agreement with Riverstone, Southern Cross and other investors to create Aleph Midstream, which will become the first Argentine midstream company focused on Vaca Muerta.
- Advised Equinor on its $30m equity investment in the Cañadón León Wind Farm project, developed by YPF Luz.
- Acted for Iberostar Group, as controlling shareholder of the Almundo travel agency, on the $77m sale of Almundo to Submarino Viagens.
- Advised Pan American Energy (Argentina) on its $90m acquisition of 49% of the wind farms Chubut Norte III and Chubut Norte IV from Genneia.
- Advised Equinor on its indirect acquisition of a 49% participating interest in an exploitation concession in the Province of Neuquén through its joint acquisition, together with Shell Argentina, of the shares of SPM Argentina — each partner’s 24.5% stake is worth around $177.5m.
‘Fast and effective’, Allende & Brea scores highly for its ability to ‘face complex issues with creativity’. The group leverages the firm’s strong institutional relationships with insurers to specialise in advising financial services clients on corporate matters. It also remains active in the agribusiness, life sciences and technology spheres. Managing partner Valeriano Guevara Lynch has a robust M&A and corporate practice and co-heads the group alongside corporate and finance partner Santiago Sturla. Other key contacts include agribusiness lead Raúl Fratantoni and Diego Botana, who is an ‘expert in commercial matters’. The practice group was further strengthened with the raising of Tomás de Cío to the partnership as of late November 2020.
‘It is at the level of the best offices in the country. We value its technical capacity and versatility.’
‘They are very technical, but fast and practical.’
‘Good personal contact. Very fast response times and work hard to fix all issues. Working with the team is like working with good colleagues.’
‘Great professionalism, availability and flexibility to face complex issues with creativity and effectiveness.’
‘The team provides fast and effective management of cases.’
‘The full-service team is unmatched in its multidisciplinary approach. Partners Santiago Sturla and Jorge Mayora deserve special mention for their availability and business acumen.’
‘Diego Botana is an expert in commercial matters and business advice in general.’
CBRE Richard Ellis
- Assisted Reckitt Benckiser with its internal corporate reorganisation process, which in Argentina included the spin-off of certain business units.
- Advised Masisa on the potential sale of its forestry business in Argentina.
- Advised Ceimic on a group restructuring, including the establishment of a holding company in Spain for tax efficiency reasons.
- Acted for Laboratory Corporation of America Holdings (LabCorp) on the Argentine portion of its worldwide reorganisation process, following LabCorp’s acquisition of Chiltern.
Baker McKenzie strikes the right note with its ‘creativity in resolving problems’. The firm is distinguished by its generous international network, which marks it as a go-to team for multinational clients doing business in Argentina, including Accenture, FedEx and Nokia. The group also stands out for its strong experience in the technology, financial services, and energy and natural resources areas. Highly regarded managing partner Gustavo Boruchowicz spearheads the M&A and private equity groups. Other key contacts include Roberto Grané, who handles transactional and regulatory matters, and energy and natural resources partner Ezequiel Artola.
‘For M&A matters, Baker & McKenzie is the firm to contact.’
‘The team is excellent in this field. They stand out for their experience, organisation, creativity in resolving problems that arise throughout the deal and, above all, their negotiation skills.’
‘Roberto Grané understands our business and is able to assist with making strategic decisions.’
‘Roberto Grané and Ezequiel Artola are both analytical and pro-business, which makes them the best team to advise on a complex transaction.’
Black & Decker
Eco-Stim Energy Solutions
Archer Daniel Midland
Alba Capital Partners
Temasek Capital Management
Amcor / Bemis
- Advised Advent International on integration matters following its $1.4bn acquisition of a 51% stake in Prisma Medios de Pago.
- Acted for Tencent on its investment in Argentine fintech start-up, Ualá.
- Advised Goldman Sachs on its second investment in Ualá.
- Assisted Eco-Stim Energy Solutions with the $17m sale of its local assets to Calfrac.
Bomchil is appreciated by sources for its ‘ability to get up to speed on the client’s business’. The firm’s premier TMT practice pays dividends on the corporate side and it is routinely engaged by technology and entertainment companies to advise on M&A and general corporate matters. Other strong suits include the agribusiness, life sciences and food and beverage sectors. M&A co-head Marcelo Bombau specialises in the consumer products and TMT areas. Managing partner Javier Petrantonio co-leads the group and is also a seasoned litigator. IP head Adrián Furman and associate Francisco Zappa are also recommended.
‘The team’s responsiveness and ability to get up to speed on the client’s business was notable and much appreciated.’
‘Adrián Furman and economic regulation partner María Inés Corrá both displayed great professional integrity and experience in helping us to navigate the corporate and regulatory environment.’
Pepsico // Pepsico Group in Argentina (Pepsi, Lays, Quaker)
AMC Networks Latin America
Grupo La Nación
Seabord Energías Renovables
Elektrogen de Argentina
The Ally Group
- Represented Integración Turística Hotelera, the owner and operator of the Sheraton Hotel Mar del Plata, in the termination of its management agreement and shift to a franchise structure with Marriott.
- Advised pharmaceutical company Tuteur on the acquisition of Vicrofer, one of its main vendors.
- Advised Buenos Aires Arena on all matters related to the development and opening of a next-generation arena, currently known as Movistar Arena.
- Acted for the shareholders of Entre Rios Crushing, an agribusiness company involved in the export of soy beans, on several capital increases and on the sale and purchase of shares.
Oil-and-gas powerhouse Martínez de Hoz & Rueda remains a leader for transactions in the energy sphere, with major multinationals such as ExxonMobil, Equinor and Schlumberger all turning to the firm for support on strategic M&A. The team is also working to expand its portfolio of non-energy clients, with the retail and technology sectors growing areas of focus. Fernando Zoppi, who is well versed in M&A, private equity and venture capital, steers the practice alongside high-profile energy expert, José Martínez de Hoz.
Pan American Energy
International Finance Corporation
Green Power Renewables
Patagonia Field Services
WeLink Energy Group
- Advised ExxonMobil on increasing its stake in the Sierra Chata block in the Vaca Muerta through its acquisition from Total Austral of a 3.5% working interest in the block and a stake in the hydrocarbons transportation concession.
- Acted for Wintershall Dea on the sale and assignment to ConocoPhillips Ventures Argentina of its 45% participating interest in an exploitation concession in the Aguada Federal block and its 50% participating interest in an exploitation concession in the Bandurria Norte block.
- Advised Equinor on the acquisition of offshore exploration assets from YPF.
- Acted for Schulmberger on the sale of shares and assets to Shell and Equinor.
Lawyers at Estudio O'Farrell are lauded for their ‘exhaustive analysis’, ‘personalised service’ and ‘dedication to their work’. Among its industry sweet spots, the firm’s market-leading power practice spins off a significant volume of transactional work, especially for key client YPF. The team also handles a steady stream of oil-and-gas, agribusiness and TMT-related matters. Energy specialist Uriel O’Farrell co-heads the practice together with up-and-coming transactional partner Juan Pablo Fratantoni and Ernesto Genco, who focuses on foreign investments, joint ventures, reorganisations and M&A. Nicolás Benvenuto is a talented corporate associate.
‘As a foreign investor in Argentina, Estudio O’Farrell has been very instrumental in guiding us through the process of establishing our business and keeping us current with the political and economic conditions.’
‘The strong points of the lawyers we work with are their honesty, professionalism, exhaustive analysis, personalised service, skill in negotiating with the other side, and dedication to their work, including outside normal hours.’
‘The team is of a very high professional quality in all legal areas of concern.’
‘Ernesto Jose Genco and finance partner Sebastián Luegmayer, along with other members of their staff, have been extremely valuable to our company. As we entered the Argentina market their guidance has been instrumental in assisting us in establishing our current and future business plans.’
‘We value the consistent client attention, particularly from Juan Pablo Fratantoni and economic regulation partner Agustin Siboldi.’
Ford Motors (including Plan Ovalo de Ahorro para fines Determinados, Ford Credit Compañía Financiera and all other Argentine subsidiaries)
YPF Energía Eléctrica
Pampa Energía (including Transener, Edenor, Central Térmica Güemes & Central Térmica Loma de la Lata)
Comunicaciones y Consumos
Grupo Concesionario del Oeste
Gulftech companies, including: Brown International Corporation, Atlas Pacific, Luthi & Sinclair.
G4S International Holdings
Resinas Concordia (Georgia Pacific)
Altenis (ATP Buenos Aires)
Energía San Juan
Empresa de Transportes Don Pedro
Latinoamericana de Energía
Hospitality and Retail Solutions
Las Monjitas Polo Club
Empresa Federal de Energia
- Acted for Total Especialidades Argentina on the $30m sale of Total’s LPG assets in Argentina to Amarilla Gas and Cañuelas Gas.
- Represented Eni Argentina in agreements related to the Unión Transitoria de Empresas joint venture (comprising Eni, Mitsui and Tecpetrol) and joint operation agreement.
- Advised YPF Energía Eléctrica on an engineering, procurement and construction agreement with General Electric for the development of its Cañadon León wind power project.
- Advised Hattrick Energy on day-to-day corporate matters.
Salaverri, Burgio & Wetzler Malbran
Salaverri, Burgio & Wetzler Malbran’s compact firm structure translates into a specialist corporate practice that enjoys close relationships with several key clients, most notably Pampa Energía. The group handles the full range of matters, with experience in M&A, private equity, capital markets and insolvency — it also has a solid record in cross-border transactions. According to some, practice head Diego Salaverri is ‘the best M&A lawyer in Argentina’. The team also includes up-and-coming corporate finance specialists Tomás Arnaude and Elena Sozzani as well as highly active associate Pablo Fernández Pujadas.
‘The professional quality and experience of Diego Salaverri and Tomás Arnaude stands out.’
‘In my opinion, Diego Salaverri is undoubtedly the best M&A lawyer in Argentina, especially in oil-and-gas and energy matters. As well as having deep legal knowledge, he is an excellent negotiator in M&A deals.’
Sophia Capital Partners
Transportadora de Gas del Sur
Turner Internacional Argentina
- Advised Pampa Energía on its $21m auction sale of Petrobras Argentina’s liquid fuels and lubricants storage business in Argentina, which was acquired by Shell Compañía Argentina de Petroleo.
- Acted for Pampa Energía, and its subsidiary Pampa Energía Bolivia, on the acquisition of a 4.49% interest in Oleoductos de Crudos Pesados from AGIP Oleoducto de Crudos Pesados, a subsidiary of Eni International.
- Advised affiliates of broadcasting company Turner Internacional Argentina, including Imagen Satelital, on day-to-day corporate matters.
- Assisted electric power distributor Transener, and its subsidiaries, with their day-to-day corporate matters.
Brons & Salas’ solid corporate practice handles a range of M&A, foreign investment, corporate reorganisations and joint venture matters. Best known for its prominence in the real estate and agribusiness areas, the team is also active in the automotive and financial-services sectors. Environmental law specialist Guillermo Malm Green co-heads the department alongside real estate partner Mariano del Olmo.
WPP Group Companies
Godrej Consumer Products
Gigawatt Global Coöperatief
Stanley Black & Decker
The Clorox Company
Shandong Gold Mining
Associated British Foods
- Advised Grupo Peñaflor on several post-closing matters in relation to the acquisition of Diageo Argentina by Grupo Peñaflor.
- Acted for Godrej Consumer Products on the comprehensive reorganisation of the group’s companies, both locally and abroad.
- Assisted Brazilian law firm ASBZ Advogados with the local aspects of its advice to Prime Sistemas de Atendimento ao Consumidor on its acquisition of Argentina-based Interaxa.
Errecondo, González & Funes
Errecondo, González & Funes houses a sophisticated corporate practice that shines in M&A and private equity transactions. It is also well known for its experience in the energy, real estate and TMT sectors. Key contacts include corporate finance specialist Javier Errecondo and Saturnino Funes, who focuses on M&A, private equity and regulatory matters.
Estudio Garrido Abogados
Over the past year, Estudio Garrido Abogados had a strong run of deals in the private equity space, where it acted for leading domestic and foreign funds such as L Catterton, Orange Equity Partners and Advent International. The team also has an impressive record in venture capital and technology transactions. Managing partner Gustavo Garrido is recognised for his private equity expertise.
- Advised Taringa! — a leading Spanish-speaking social network — on its sale to IOVLabs.
- Acted for L Catterton on the acquisition of a controlling stake in Leoncio Arizu, a wine producer that operates under the Luigi Bosca brand.
- Represented the shareholders of Restorando on the sale of shares to TripAdvisor.
Hope, Duggan & Silva
According to sources, Hope, Duggan & Silva is ‘characterised by its provision of impeccable advice and support at all times’. The experienced group consistently handles both transactional and regulatory work, with a focus on advising clients in the retail, energy and financial services sectors. Juan Duggan, who advises on corporate, finance and litigation matters, co-heads the team together with Rufino Arce.
‘The team at Hope, Duggan & Silva is characterised by its provision of impeccable advice and support at all times.’
‘Their service is very prompt, they are quick to advise us without sacrificing quality. Their added value lies in the excellence of their work and in always bearing in mind the specifics of our industry and the possible alternatives in any situation.’
‘The lawyers are extremely kind and patient, and their keenness to provide a good service is their best quality. We feel that we are working with experts in the subject, who are honest and respectful, which gives us the peace of mind to trust them with matters that are very important to our company.’
‘We use the firm for services across the board, including corporate, regulatory, labour and litigation. With few exceptions, the individuals have been professional, competent, and responsive.’
‘I would like to highlight the work of Rufino Arce and Guido Molinari, who are very friendly and have a broad knowledge of all the topics they advise us on.’
Banco Bilbao Vizcaya Argentaria (BBVA)
Industrial and Commercial Bank of China (ICBC)
Odyssey Reinsurance Company
Minera Santa Cruz (Hochschild Mining)
Buongiorno (a NTT DOCOMO Company)
International Container Terminal Services
- Advised Almacenes Éxito, as controlling shareholder of supermarket chain Libertad, on compliance matters related to the different acquisition vehicles used by Almacenes Éxito in the purchase of Libertad and its affiliates.
- Advised media and advertising group Omnicom on day-to-day corporate matters.
- Assisted Banco BBVA with corporate compliance matters.
Best known for its reputation in energy M&A, Nicholson y Cano Abogados is also a stand-out performer in the agribusiness area. Additionally, the team continues to pick up an increasing volume of high-profile transactions in the financial services sector, including its recent work advising Mercado a Término de Buenos Aires and ROFEX on their $270m merger. María Fraguas focuses on corporate, insurance and antitrust matters and co-leads the team alongside energy specialist Nicolás Perkins.
Qatar Petroleum International
Universal Assistance (affiliate of Zurich Group)
- Acted for Mercado a Término de Buenos Aires (the main commodities future market in Argentina) and ROFEX (the main financial future market) on their $270m merger.
- Advised Riverstone on in its Oil & Gas midstream project in Vaca Muerta, including on the development of greenfield infrastructure and the acquisition and enhancement of existing infrastructure for the gathering, treatment and transportation of hydrocarbons.
- Advised Riverstone on the disinvestment agreement through which Vista Oil & Gas will purchase Riverstone’s participation in Aleph Midstream.
Salaberren & Lopez Sanson (SyLS)’s ‘solution-driven approach’ is praised by sources, who also highlight its ‘deep legal knowledge’. The corporate and tax boutique has a strong focus on M&A and venture capital transactions, with broad experience in the technology, agribusiness, energy and food and beverage industries. Founding partner Rafael Salaberren is ‘technically impeccable’ and steers a group that also includes up-and-coming partner Juan Campos Alvarez.
‘SyLS is unique for combining business acumen, very good client service (lawyers are available 24/7) with deep legal knowledge. Also, I really appreciate the solution-driven approach.’
‘Matters are always dealt with by a partner who knows the case in depth.’
‘Rafael Salaberren and tax partner Sebastian Lopez Sanson always spend time on the matter and deal with issues calmly. It’s never a case of finishing the deal quickly, but of finishing it in the best way possible.’
‘Our contact has always been with Rafael Salaberren and tax head Sebastian Lopez Sanson. Both are not only technically impeccable but also have a business view of matters.’
‘Juan Campos Alvarez is a young partner who is also very good.’
The Coca-Cola Company
Energia del Sur
- Advised Coca-Cola on cross-border corporate, regulatory and IP advice concerning its Wabi delivery service app.
- Advised Chile-based Constructora Excon on a mining construction project in Jujuy, including corporate and tax advice.
- Acted for Coca-Cola on the structuring of a venture capital fund.
Zang, Bergel & Viñes Abogados’ first-class real estate practice ensures a significant volume of work involving asset sales and purchases, joint ventures and portfolio management. The group also continues to see an increase in matters relating to the TMT and energy and natural resources sectors, including venture capital deals. Pablo Vergara del Carril leads the M&A, corporate and foreign investment departments.
Consultores Asset Management
Radio Victoria – TCL Netherlands
- Advised Agrofy Global on the $23m sale of Series A stock in Agrofy.
- Acted for DF Entertainment on the acquisition of a 10% interest in EHBA, a company holding concession rights on a stadium located in Buenos Aires.
- Advised Austral Gold on the acquisition of an approximately 27% equity interest in Rawhide Acquisition Holding.
A&F | Allende • Ferrante | Abogados
The ‘hands-on’ team at A&F | Allende • Ferrante | Abogados advises on a range of corporate and commercial matters, with notable strength in M&A, foreign investment and compliance. Experienced founding partner Lisandro Allende heads the group.
‘When compared with other firms in this area, A&F stands out; its processes are much less bureaucratic and more thorough.’
‘The team understand the needs of the client and is very hands-on.’
‘Excellent and trustworthy team, which provides personalised attention and experience in corporate, business, labour, taxes and M&A practices.’
‘Lisandro Allende and Mariana Miglino advised us on an acquisition transaction in Argentina. Both are very well prepared professionals and excellent people. Their dedication to details makes the difference.’
‘Delfina Pini, Mariana Miglino and Lisandro Allende stand out for their availability and proximity, the clarity of their responses, their precise and effective guidance, their ability to anticipate problems, and their efficiency and determination.’
The Jones Group
ADP (Automatic Data Processing)
The Marketing Store Worldwide
Telefonica de Contenidos
Beliv (formerly Livsmart)
Wildcat Oil Tools
Pecanes del Sur
- Advised ADP Group on its intra-group reorganisation process following its merger with Payroll Argentina.
- Advised The Jones Group on day-to-day corporate and contractual matters.
Alfaro-Abogados’ platforms in New York and Beijing ensure it is well equipped to advise foreign clients — and law firms — on the local aspects of cross-border matters. The firm’s China practice is impressive and it counts Sinopec and CPTDC among its clients. Key contacts Carlos Alfaro and Sebastián Rodrigo are particularly well versed in energy transactions.
Climate Controls & Security Argentina
Grupo Linde Gas Argentina
Soltec Energías Renovables Argentina
Osisko Gold Royalties
Golden Arrow Resources
Blue Sky Uranium
Argentina Lithium & Energy
Mothers Energy Services
- Acted for Grupo Linde Gas Argentina on the local aspects of Praxair’s merger with The Linde Group.
- Advised Rolfson Oil on the establishment of an Argentine branch of one of the companies of the Rolfson Group.
Mining deals remain a mainstay of Beretta Godoy’s practice and its relationship with trophy client Yamana Gold is a key driver of corporate work. Other sweet spots include energy and China-related deals. Federico Godoy specialises in energy and natural resources work, while Juan Sonoda heads the international business department. María Angélica Grisolía, who joined from the in-house team at Banco Macro in July 2019, leads the corporate group.
‘They have the ability to develop the client relationship and maintain it over time. They are commercial and detail-oriented.’
Zhejiang Huayou Cobalt
CGGC – China Gezhouba Group Corporation
China Water Resources Beifang Investigation, design & research (BIDR)
China Energy Engineering Tianjin Group
Toyota Boshoku America
- Advised Yamana Gold on the integration of the Agua Rica and Alumbrera mining projects.
- Acted for Yamana Gold on the sale of the Gualcamayo mine, located in the Province of San Juan.
Bulló Abogados’ practice is firmly focused on the mid-market, with particular expertise in advising insurance clients on general corporate matters, in line with its firm-wide strength. Gustavo Torassa handles banking, corporate and capital markets work and co-leads the team alongside Esteban Gramblicka, who has an emphasis on the telecoms and technology industries.
Vista Oil & Gas
Liberty Mutual Insurance Group
Cámara Argentina de Empresarios Mineros (CAEM)
Cámara Argentina de la Energía (CDE)
Cámara Argentina de Especialidades Medicinales (CAEMe)
Asociación de Fabricantes de Cementos Portland (AFCP)
Instituto del Cemento Portland Argentino (ICPA)
Asociación Argentina de Carreteras (AAC)
Asociación Argentina de Compañías de Seguros (AACS)
Unión Argentina de Riesgos del Trabajo
Argencon (Asociación de Empresas Promotoras de la Exportación de Servicios para la Sociedad del Conocimiento)
Instituto Argentino de Normalización y Certificación (IRAM)
- Advised Murchison Estibajes y Cargas Industrial y Comercial, a company that belongs to the Murchison Group, on the sale of the total share capital of Murcan.
- Acted for the Argentine Chamber of Energy (CADE) on the setting up of the entity.
Córdova Francos Abogados
Córdova Francos Abogados punches above its weight in corporate work, with a solid record in advising on the local aspects of cross-border deals. The capable boutique is particularly active in M&A and private equity transactions. M&A head Sebastián Córdova Moyano and private equity specialist Guillermo Francos are the names to note.
Over the past year, Cerolini & Ferrari Abogados advised a significant number of local subsidiaries of foreign companies on corporate matters, including Catapult Sport, QuanticMind and Corpag. Founding partner Agustín Cerolini has a broad practice, with a focus on banking, commercial and corporate law.
ILF Consulting Engineers
Corpag (Buenos Aires) Services
First Plus Soft
- Acted for Catapult Sport — a subsidiary of Australia-based Catapult Sport — on inward and outward investment matters.
- Advised QuanticMind on day-to-day corporate matters concerning its Argentine subsidiary.
The ‘excellent young team’ at MBP Partners - Abogados enters the ranking on the back of rave reviews from sources, who highlight its ability to ‘exceed expectations of very demanding international clients’. The group is particularly noted for its growing reputation in M&A and infrastructure-related matters. Victoria Bengochea has ‘strong knowledge of her subject’ and co-heads the team alongside finance partner Ignacio Meggiolaro.
‘The MBP Partners team is a truly exceptional Argentine boutique firm with the talent and service orientation to compete with far larger law firms. The partners on the team have all trained at the best firms and in-house departments among Argentine corporations, and they therefore understand and exceed expectations of very demanding international clients.’
‘They have a keen awareness of how international clients analyse complex risks presented by Argentine investments and opportunities today — from regulatory to F/X and macroeconomic risk. Their expertise and collaborative approach make them truly stand out among competitors.’
‘From the start of our working relationship with MBP Partners, I have felt very well supported professionally. They have provided a solution to every problem we have raised and completed work within the time frames we established.’
‘They are practical in their application of the law and in the rare case that they do not know about a particular subject, they quickly and enthusiastically come to understand it so that they can provide suitable advice.’
‘I have worked with various lawyers at the firm (from senior partners to junior associates) and they were all very proactive. I think it is an excellent young team with a lot of experience in the corporate world and in the various legal matters that are relevant to our industry.’
‘Both on and off deal, I have found the key partners very responsive and commercially focused. They are willing to go the extra mile to ensure smooth execution, and they have been incredibly valuable sources of information about upcoming regulatory changes and market trends.’
‘In corporate matters, our cases are dealt with by founding partner Victoria Bengochea, who has demonstrated her strong knowledge of the subject. She is a very focused person who concentrates on the matter you have entrusted to her.’
‘Ignacio and Victoria are among the most professional, experienced and dedicated lawyers I have ever encountered in the Argentine market. They are very hands-on, and they appreciate how to interpret regulatory and financing complexity for clients in manner that is clear and easy to understand.’
‘Ignacio Meggiolaro and Victoria Bengochea are both outstanding attorneys who provide nuanced advice in a complicated country like Argentina. They are extremely responsive and come up with creative solutions to every day business problems.’
BTG Pactual Group
Cono Sur Inversiones
Grupo Galicia Seguros
Hyundai Engineering & Construction
Grupo La Anónima
The Rohatyn Group
Rizziani De Eccher
Cooperativa Muratori Cementisti Ravenna (CMC)
- Advised SMB Capital on the acquisition of the controlling participation in broker-dealers, Max Valores Argentina and Max Valores Uruguay.
- Advised BTG Pactual Group on its incorporation of a local subsidiary,
Richards, Cardinal, Tützer, Zabala & Zaefferer
Richards, Cardinal, Tützer, Zabala & Zaefferer’s practice has an emphasis on representing clients in the manufacturing sector, including recent work for Palfinger and Widex International. Other areas of activity include the life sciences, retail and energy spheres. Hernán Camarero is highlighted for his ability to ‘look at the legal risks from a commercial perspective’; he co-heads the team alongside Jorge Tützer and Matias Zaefferer.
‘The team works very well and is willing to collaborate with our legal department.’
‘We work with Hernán Camarero, who understands our business and is able to look at the legal risks from a commercial perspective.’
- Advised Palfinger Americas on the $3.8m acquisition of a majority stake in the capital stock of industrial company, Andres Bertotto.
- Advised Eurofarma on its acquisition of a local pharmaceutical company.
Severgnini, Robiola, Grinberg & Tombeur
‘Very reliable and experienced’, Severgnini, Robiola, Grinberg & Tombeur has notched up a solid track record of M&A deals involving the financial services, retail and energy sectors. It also routinely advises on joint ventures, foreign investment matters and incorporations. Department head Carlos Tombeur focuses on corporate, banking and capital markets work.
‘The team is very reliable and experienced. They stand out for their trustworthiness.’
Private Shareholders of Banco Patagonia
Miniso BF Holding
InTouch Technologies / InTouch Health Providers
- Acted for MercadoLibre Group on the merger of its companies, Mercado Libre, Kaitzen, Kinexo and Machinalis, whereby MercadoLibre incorporated the other companies as the absorbing company.
- Advised Miniso BF Holding on the $10m acquisition of certain assets and inventory from Miniso Trade and Miniso Store Argentina.
Tavarone, Rovelli, Salim & Miani’s ‘young and agile team’ impresses with its ‘deep commitment to the execution of transactions’. The team continues to ramp up its profile in corporate matters, recently acting for a raft of leading local and multinational companies, including Grupo Werthein, McCormick & Company and Grupo Alicorp. The ‘outstanding’ Juan Pablo Bove co-heads the team alongside Federico Otero, who is a ‘specialist in retail transactions’.
‘Tavarone has managed to develop a corporate and M&A practice that is comparable in quality of work to firms with a much longer track record in Argentina and, size-wise, is comparable to the biggest firms in the market. This allows the firm to put at our disposal a team that is qualified to handle high-volume, complex transactions.’
‘The partners in the team have a very interesting mix of backgrounds in the standout firms in the local and international market, as well as in major local and international businesses, which gives them a practical perspective that clients value greatly.’
‘They have the specialist ability that clients look for in external counsel but with a commercial view that is very helpful for in-house administration of matters.’
‘The partners in Tavarone’s corporate and M&A practice are characterised by their direct and constant involvement in the client’s matters, which sets them apart from others in the market.’
‘The team is young and agile but at the same time very sophisticated.’
‘The team at Tavarone is very dynamic and compares well with other firms thanks to its deep commitment to the execution of transactions and resolution of its clients’ issues.’
‘They are distinguished by their ability to deliver responses quickly, in whatever format circumstances require (by email, WhatsApp, phone call, or a legal opinion or memorandum), which is very valuable.’
‘Tavarone has a strong team of five partners. Although it is a relatively new firm, in my experience, the team is big enough to deal with complex, large-scale transactions. This kind of service is comparable with the offerings of the biggest firms in the market, but the service at Tavarone remains superior in terms of the engagement of the partners.’
‘Juan Pablo Bove, the head of the team, was outstanding. Thanks to his solid knowledge and perseverance, we managed to resolve a very complicated issue. He was able to distinguish what was and wasn’t important, saving a lot of time and energy.’
‘Juan Pablo Bove is responsible for the development of the corporate and M&A team at Tavarone and has a deep knowledge of transactions involving regulated businesses (such as energy and financial companies). Other notable members of the team include Federico Otero, who is a specialist in retail transactions, and Agustín Griffi.’
‘Federico Otero has a unique combination of ability to grasp the key elements of a transaction (in different scenarios, such as M&A, project finance, equity investments, etc.), while also diving into specific details of sophisticated structures.’
‘Pablo Tarantino and Agustín Griffi have good knowledge of dealing with international matters. If they don’t have the answer, they find the necessary information.’
‘Tarantino and Griffi have built a team that stands out for its proactivity, experience and, above all, its personal and professional qualities. They are always responsive to clients’ needs and have gone above and beyond for us on many occasions.’
‘Julian Razumny is a seasoned professional with a practical approach aimed at finding the most efficient solution.’
Encompass Latin America
Calcaterra family office
San Cristobal Group
Santa Lucía Group
Roundtable on Responsible Soy Association RTRS
Colcar Merbus Group
Americas Capital Investment
- Represented Operadora Argentina de Cines on the final stage of its joint venture with Cinemas Georgia and on its corporate reorganisation.
- Advised McCormick & Company on local matters, including distribution agreements and potential punitive claims.
Wiener Soto Caparrós
‘Professional and dedicated’, Wiener Soto Caparrós is recognised for its strength in the food and beverage sector, with Coca-Cola Andina Argentina, McCain Foods and Bid Corporation among its clients. The team handles all types of corporate transactions and benefits from strong international experience. Corporate finance partner Laurence Wiener co-heads the team alongside M&A and regulatory specialist Mariela del Carmen Caparrós. Clara Pujol is an active associate.
‘It is a young, professional and dedicated team.’
‘There is a clear division of tasks and you know who you should talk to in case of any doubt. The size of the firm is perfect for my requirements.’
‘They make Argentina accessible to Europeans. Christophe Dubois is really at home in both worlds – Argentina and Europe.’
‘Gonzalo Soto, Clara Pujol and Gonzalo Otero Mendiz instil loyalty and confidence.’
Coca-Cola Andina Argentina
Hikvision Digital Technology
- Advised New Zealand-based Bid Corporation on the expansion of its local business through a direct investment in three frozen foods and catering companies.
- Acted for France-based Deveryware on registering a foreign entity with the Superintendency of Corporations to serve as one of the shareholders of the Argentine subsidiary, Deveryware Latam.
Estudio Ymaz Abogados
Estudio Ymaz Abogados’ ‘professional and dedicated team’ stands out for its ‘personalised attention’ and ‘technical knowledge’. Sources particularly praise the group’s combination of corporate and regulatory expertise, which is a significant asset for its strong roster of infrastructure and construction clients. Department head Pilar Ymaz Videla is noted for her ‘mastery of business dynamics’.
‘Ymaz has a team of lawyers with deep knowledge and experience of advising companies. They always reach solutions that are consistent with the business’ requirements.’
‘They are very professional and dedicated and offer the client a very friendly and respectful service that is completely in agreement with their values of ethics and compliance.’
‘They do not just provide excellent legal advice on corporate issues, but also know the regulations that apply to the deal and understand the context, making their advice much more comprehensive, versatile and adapted to the needs of the clients, which adds a lot of value.’
‘The lawyers at Ymaz provide personalised attention, and are professional and very friendly, with technical knowledge and moral principles.’
‘The first thing that stands out is their attention to detail and punctuality in meetings. The second thing is their clarity of analysis, which stems as much from staying up to date with the regulations and jurisprudence, as from their many years of experience.’
‘They stand out for their legal knowledge, the involvement of partners, their rigorous and organised follow-up, and the involvement of lawyers from other practices when required.’
‘Pilar Ymaz Videla stands out in the corporate practice; she has a strong track record in advising on corporate matters, having participated in the creation, maintenance and dissolution of numerous businesses.’
‘Pilar Ymaz Videla has a mastery of business dynamics which allows her to understand the complications of their management and to carry out legal analysis and resolve problems.’
‘Pilar Ymaz Videla has great ingenuity and is willing to advise on all commercial and corporate matters.’
‘Pilar Ymaz Videla and Esteban Ymaz Videla are professionals who provide excellent advice, showing their vast knowledge of all the subjects we consult them about, and are very willing to adapt to the client’s requirements.’
‘Esteban Ymaz Videla is very responsive and prepared to provide quick responses to our company’s questions.’
‘Esteban Ymaz Cosio has vast professional experience and knows how to deal with any matter that we come to him with, especially in the area of administrative and commercial law. ’
Correo Oficial de la República Argentina
- Advised Spain-based Hine Group on the establishment of its subsidiary in Argentina.