Clifford Chance's strong presence in Sao Paulo has enabled it gain a solid foothold in cross-border Brazil M&A. It is distinctive in having a number of senior M&A specialists based in Sao Paulo led by eminent office managing partner Anthony Oldfield. It advises an impressive number of Brazilian corporates and financial institutions and has also achieved acclaim for a series of cross-border transactions, including joint-ventures, involving both Brazilian and Asia parties. Moreover, the firm remains a big player in energy and infrastructure deals across Latin America and is forging a fine reputation in private equity investments throughout the region; in this regard it advises a number of private equity houses, sovereign wealth funds, infrastructure funds, pension funds and other institutional investors. While Argentina deals have slowed for the firm, it is still achieving good levels of activity in Brazil, Chile, Colombia, Mexico and Peru. David Brinton is head Corporate/M&A for the Americas and has an excellent record in energy and infrastructure transactions in Latin America, including private equity deals. Madrid's Javier Amantegui is also active in the region, while Thais Garcia and Madrid partner Samir Azzouzi are emerging talents.

Latham & Watkins LLP's effective and evolving Latin America strategy is built on primary teams in New York and Madrid, with additional support from other offices around the US and across its global network. This has enabled the firm to gain a significant market share of cross-border transactions involving Latin America, including a growing portion of private equity deals. Energy and infrastructure is a particular area of expertise and experience. Madrid special adviser José María Aznar, the former Prime Minister of Spain, continues to open doors for the firm in Latin America, helping to cement corporate and government relationships, along with helping to develop the firm's connections to local Latin American law firms. Despite not having offices in the region, it has achieved impressive geographic coverage; Brazil is the one jurisdiction where it is a little behind some of its classic competitors, yet it did recently advise BlackRock on its acquisition of Tijoa Participacoes e Investimentos, CSE Centro de Solucoes Estrategicas, and Juno Participacoes e Investimentos, three Brazil-based power and engineering services companies. Antonio Del Pino is co-chair of the Latin America practice, having a wide-ranging focus, including a healthy diet of M&A and private equity engagements. Having advised on a series of Latin America transactions for Telefónica, he continued to advise the telecoms giant on the $1.65bn sale of Telefónica de Costa Rica TC, Telefónica Móviles Panamá, and Telefónica Celular de Nicaragua to Millicom International Cellular. Madrid's José Antonio Sánchez-Dafos is another key figure in Latin America M&A and private equity. Since publication the firm has hired Gianluca Bacchiocchi and Guido Liniado from Clifford Chance, effective as of Janaury 2021; they arrive as partners in the corporate department and energy & infrastructure industry group, and as members of the Latin America and capital markets practices.

Simpson Thacher & Bartlett LLP's experienced Latin America partners have successfully leveraged the team's deep links to the region and the firm's outstanding position in strategic M&A and private equity. The firm has healthy client list of multinlatinas, alongside traditional multinationals and private equity houses. In private equity, the Latin America team benefits from the firm's global reputation in this segment, but the group has established a leading position in its own right. This is especially true for Todd Crider, who heads the Latin America group, and has a wide-ranging practice including a healthy diet of M&A and private equity; he splits his time between New York and Sao Paulo. Crider led the team that advised The Boeing Company on its agreement with Embraer to acquire an 80% interest in Embraer’s commercial aviation business; and has also represented SoftBank in a series of deals, including its investment in Banco Inter, one of the fastest growing online banks in Brazil. Founder of the Latin America practice David Williams is equally highly rated for M&A and private equity, including deals in Chile, Colombia and Argentina, while head of the Sao Paulo office Grenfel Calheiros has a fine record in cross-border Brazil deals. Jaime Mercado is based in New York and Sao Paulo with a broad-based practice, including M&A deals. Juan Naveira is an emerging talent, as is counsel Borja Marcos. All named individuals are based in New York unless stated otherwise.

Debevoise & Plimpton LLP continues to advise a number of Brazilian clients in headline cross-border transactions. Moreover, it impresses in insurance industry deals and private equity transactions across Latin America. The firm's leading compliance and investigations practice makes it particularly adept in due diligence exercises in M&A deals. Chile, Peru, Colombia and Mexico are other key markets for the practice. Maurizio Levi-Minzi has a long track record in Latin America transactions and David Grosgold is noted for insurance deals throughout the region; he recently advised Chubb International Holdings, Agencia en Chile on its acquisition of two Chilean insurance companies, Banchile Seguros de Vida and Segchile Seguros Generales from a subsidiary of Quiñenco and other minority investors.

Jones Day's principal markets are Brazil and Mexico, where it has two sizeable offices. While Mexico deal activity declined in 2019 due to the political and economic climate, the firm was boosted by an uptick in transactions in Brazil and also participated in Chile and Colombia's buoyant markets. It continues to advise a range of US and European multinationals on their deals in Latin America and represents a growing number of private equity houses and sovereign wealth funds in their investments in the region. Wade Angus splits his time between Sao Paulo and New York and has a fine record in cross-border Brazil deals. So too does Sao Paulo-based Marcello Hallake. The pair teamed up to advise ENGIE on its $8.6bn acquisition of Transportadora Associada de Gás from Brazilian state oil company Petrobras. María Luisa Cánovas, Michael McGuinness, Sao Paulo-based Latin America head Luis Riesgo, and Nicholas Rodríguez and Enrique Martin in Miami are also key team players. Sao Paulo's Artur Badra impresses at of counsel level. Named individuals are based in New York unless stated otherwise.

Paul Hastings LLP significantly advanced its already burgeoning Latin America practice with the hire of a Sao Paulo team from Shearman & Sterling LLP in August 2019. This includes highly rated M&A lawyer Jonathan Kellner, who is especially noted for Brazilian M&A and has become chair of the Sao Paulo office. The broader team, which is largely centred in New York, has an excellent record in Colombia and Peru deals, along with Mexico. It has made the most of its strong connections to investment banks, which has led to the cementing of an array of corporate relationships, including in the family-owned business sector. The team is also seeing growth in private equity deals, while power and infrastructure deals are also areas of expertise; it recently advised Glenfarne Group and its subsidiaries on the $420m acquisition of Zona Franca Celsia from Celsia, which includes the Flores I and Flores IV gas fired generation plants located in Barranquilla, Colombia. Robert Leung and Mike Huang are also prominent names in the Latin America M&A environment, while Michael Fitzgerald brings unrivalled connections in Mexico. Luke Iovine and counsel Veronica Rodriguez are also key team members. All named individuals are based in New York unless stated otherwise.

White & Case LLP's aggressive expansion of its Latin America department has delivered considerable rewards in the M&A segment. Team additions in New York and Houston have made a significant difference, notably in private equity and infrastructure funds transactions, and in the energy and infrastructure sectors. Rodrigo Dominguez and William Parish joined the Houston office from Orrick, Herrington & Sutcliffe LLP in April 2019 to reinforce the firm's standing in oil and gas, power, renewables and infrastructure deals. Marwan Azzi's earlier arrival in 2018 has already seen the firm grow its position in private equity and infrastructure funds, most notably for clients such as I Squared Capital Advisors. Azzi has closed a series of headline deals in Chile, Colombia and Peru, including advising Sempra Energy on the $3.59bn sale of its equity interests in its Peruvian businesses to China Yangtze Power International in September 2019. Moreover, the gradual expansion of the Houston office has also positioned the firm prominently for oil and gas deals in Latin America, particularly in Mexico. Global co-head of private equity Oliver Brahmst is also active in the region on behalf of clients such as Brookfield Asset Management; he also led the team that advised Odebrecht on its $1.39bn sale of the 456MW Chaglla hydroelectric power plant in Peru to a consortium led by China Three Gorges. Donald Baker in Sao Paulo, continues to play an anchor role in developing and maintaining Brazilian client relationships, working on key deals such as advising on Vale's $550m acquisition of Ferrous Resources.

Cravath, Swaine & Moore LLP's eminent position in cross-border M&A is very much in evidence in Latin America deals. Over the years it has worked on many of the market's landmark and transformational deals; a case in point being its advice to Avon Products on its $3.7bn sale to Brazilian personal care group, Natura Cosméticos. It also represented Anheuser-Busch in the sale of various local brands to, and long-term bottling arrangements with, Coca-Cola in El Salvador and Honduras. David Mercado has decades of experience in Latin America deals for big-name clients; while Sasha Rosenthal‑Larrea, who was elected to the partnership in January 2019, is building an impressive Latin American client base and transactional record.

Greenberg Traurig, LLP has reshaped its Latin America practice following the departure of former firm vice-chair Patricia Menéndez-Cambó to become deputy general counsel at SoftBank Group in 2019, along with the exit of Randy Bullard and others to Morrison & Foerster. Given the firm's substantial Latin America-facing platform in Miami and Mexico City, in particular, it has maintained a steady pipeline of corporate transaction engagements. It represents numerous multilatinas and Latin American family groups, along with a growing cohort of private equity clients, in headline deals across the region. Recent mandates include advising Camco on the sale of a 50.1% stake in Latin American value retailer Dollarcity, to Canadian publicly-listed company Dollarama. Co-head of the Miami office Yosbel Ibarra has over 20 years' experience in Latin America M&A, private equity and joint venture transactions. Trilingual Mexico native Antonio Peña is admitted to practice in Mexico (as well as Florida) and has an excellent record in M&A and private equity both there and across Latin America. Emilio Alvarez-Farré is another hugely experienced Latin America specialist whose practice spans financing and M&A. Giovanni Biscardi and Arnaldo Rego joined - as partner and of counsel, respectively, from Carlton Fields - to bolster the Brazil side of the practice. All named individuals are based in Miami unless stated otherwise.

Proskauer Rose LLP has a high level of senior Latin America M&A experience in its New York office, complemented by a large and well-established team in Sao Paulo. Many within the team are native Latin Americans. The firm has built an impressive client base of multilatinas, multinationals, financial institutions, and financial investors, with clients such as AccorHotels, BTG Pactual and Frontera Energy routinely turning to the firm for big-ticket deals. The group recently advised Brazilian financial services heavyweight BTG Pactual on the sale of its 40% interest in NASDAQ-traded Estre Ambienta. Head of the Latin America group Carlos Martinez has a significant focus on M&A, for both Latin American clients and other international businesses; he has worked on a series of deals for Frontera Energy over the years. M&A partner and fluent Spanish speaker Daniel Ganitsky is an experienced figure in cross-border deals, including a high proportion of Latin America-related transactions; BTG Pactual and Graña y Montero are among his clients. Antonio Piccirillo and Fabio Yamada provide further support from Sao Paulo. Named individuals are based in New York unless stated otherwise.

Shearman & Sterling LLP's fine traditions in Latin America M&A were partially diminished by the departure of key Sao Paulo partner Jonathan Kellner to Paul Hastings LLP in 2019. Despite this, the firm maintains an impressive client list of multilatinas, international businesses with Latin American interests, and a number of financial investors. Much of the firm's Latin America expertise is now centred in New York with further experience in Houston and other international offices. It has remained notably active in oil and gas, energy, infrastructure and financial services, in transactions right across the region. Recent mandates include advising major Brazilian banking and financial services group, Banco Bradesco, on its acquisition of a BAC Florida Bank, the deal enabling the firm's client to expand its retail banking presence in the US. The practice also represented Abertis Infraestructuras, co-controlled by Italy’s Atlantia and Singapore’s GIC, in its agreement to acquire a 70% stake in Red de Carreteras de Occidente, one of the largest toll road operators in Mexico. New York partner Clare O’Brien is recommended for financial investor deals, along with transactions in the energy and infrastructure sectors. Houston partner Manuel Orillac is an experienced Latin America expert with key expertise in oil and gas, notably advising Ecopetrol on its joint venture with Occidental Petroleum Corporation to develop 97,000 net acres in the Permian Basin in west Texas. Since publication the bench has been further strengthened with the hire of former Avant Energy GC, Gabriel Salinas, as a counsel at its Houston office.

Winston & Strawn LLP advises a range of US-listed Latin American businesses and continues to demonstrate its leadership in the private equity segment, both in relation to fund formation and investments/exits; Latin America co-head Talbert Navia spent seven years in the private equity industry as a founder and co-head of investments at funds focused on the US and Latin America. The firm now frequently represents Southern Cross Group, one of the largest private equity fund managers in Latin America, and a number of other financial investors. Energy, natural resources, infrastructure and technology are key sectors for the team. Latin America group co-head Allen Miller represents some of the biggest Latin American businesses in the market, many of which are listed in the US, and is noted for major corporate reorganisations and M&A. Morton Grosz is also recognised for private equity fund formation and transactions in Latin America.

Dechert LLP has an excellent record in major Latin American economies such as Brazil, Mexico, Colombia and Chile. The firm has especially deep experience in financial institutions deals; a case in point being its recent advisory to Australis Partners on its agreement to acquire a 50% stake in Colombia businesses Alianza Fiduciaria and Alianza Valores from Advent International. In 2019, the firm also advised Cinépolis de México on its proposed acquisition of Moviehouse & Eatery, a dine-in movie theatre circuit in Texas. Private equity is another strength of the Latin America group. New York partner Howard Kleinman has over 20 years' experience of working in Latin America, including a high number of M&A and private equity transactions. Washington DC's Bernardo Piereck is an emerging talent, best known for his work on Mexico M&A and private equity deals, although he is also involved in transactions across the region.

DLA Piper LLP (US)'s extensive Latin America practice sits in multiple offices across the US and Latin America itself. Team members in New York, Washington DC, Los Angeles, Houston and Miami work frequently on Latin America deals, while Madrid, Mexico City and Puerto Rico branches provide further vital connections in the region. Further offices in Colombia, Argentina, Chile and Peru, along with a cooperation agreement with Campos Mello Advogados in cooperation with DLA Piper in Brazil, make the firm a more than credible player throughout the region. This has enabled the firm to build an impressive client base of multilatinas and Latin America-focused financial investors. It also works with a number of multinationals that have interests in the region.  Recent mandates include advising Puerto Rico Public-Private Partnership Authority on the long-term concession of the San Juan Bay cruise ship terminals. The Chile and Peru offices teamed up to advise American Tower Corporation on its asset acquisition from Entel of up to 3,242 towers in Chile and its subsidiary in Peru. Miami partner Francisco Cerezo is US head of Latin America corporate and has an excellent record in headline cross-border and multi-jurisdictional transactions. Bogota partners Juan Manuel de la Rosa and Felipe Quintero are also highly rated, as are Paulo Larrain in Chile, Argentina's Marcelo Etchebarne  and Eduardo Gallastegui in Mexico.

Hogan Lovells US LLP is widely known for its representation of sovereigns, quasi-sovereigns and SOEs, although it has developed a flourishing practice on behalf of multilatina and the family-owned businesses. It continues to be recognised for its work in Ecuador, Venezuela and Central America, and is a growing force in other major economies. Energy and infrastructure are two key industry sectors for the Latin America practice, which is largely spread across the firm's Miami, New York, Houston, Mexico City, Monterrey, and Sao Paulo offices. Jorge Diaz-Silveira is managing partner of the Miami office and is active in M&A for multilatinas and other international clients. Mexico City managing partner Juan Francisco Torres Landa has a fine reputation for corporate reorganisations and energy-sector transactions.

Holland & Knight LLP has an impressive Latin America M&A practice spread over multiple offices, notably Miami, New York, Mexico City and Bogota. It numbers over 150 Spanish or Portuguese speaking lawyers and a combination of on the ground credibility and in-depth knowledge of the region has landed it a string of impressive engagements. The Mexico City office recently advised Telefónica Group on the sale of 11 data centers across multiple jurisdictions, including in Mexico, to Asterion Industrial Partners, a Pan-European infrastructure fund manager. Roberto Pupo is chair of the Latin America Practice Group and is a prominent name in cross-border Latin America deals, most notably representing multinationals in acquiring and selling businesses in the region; in 2019, he led the team that advised Dollorama, the Canadian value retailer on its acquisition of a 50.1% interest in Latin America’s Dollarcity. George Mencio is firm-wide co-leader of the corporate, M&A and securities practice and has a significant focus on Latin America. Executive partner in Bogota Enrique Gómez-Pinzón has a fine reputation in Colombia deals. Luis Rubio is an important figure in Mexico City. Named individuals are based in Miami unless stated otherwise. Since publication the firm has hired the former general counsel of the International Development Finance Corporation (previously OPIC), Kevin Turner, who will focus on corporate transactions and securities matters, incuding in relation to Latin America (effective as of March 2021).

Hunton Andrews Kurth LLP has an outstanding M&A record in Latin America, most notably in the financial services and telecoms sectors. Central America is very much a sweet spot for the Latin America M&A team, which is primarily located in Miami. Fernando Alonso has over 30-years' experience in M&A and private equity transactions, including cross-border deals involving Latin American businesses; this includes a series of headline transactions in the financial services sector. Moreover, he is noted for representing Latin American businesses expanding into the US, such as advising Guatemala's Grupo TRT y Credichapin on the growth of its business in the US and the negotiation of various contracts with business partners and providers. Fernando Margarit is noted for deals in the telecoms and subsea cable system sectors. Uriel Mendieta provides further senior level M&A experience, including in financial services, real estate and telecoms. All named individuals are based in Miami.

Mayer Brown has a well-established Latin America-facing M&A practice, in large part centred on Houston. Much of the practice is focused on oil and gas, along with the energy and infrastructure sectors more broadly. Moreover, the firm's association with Tauil & Chequer Advogados in association with Mayer Brown in Brazil and growing office in Mexico City, makes it well-positioned for deals involving Latin America's two largest economies. The Sao Paulo office advised ENGIE and Caisse de dépôt et placement du Québec (CDPQ) on their $8.6bn acquisition of a 90% shareholding stake in Transportadora Associada de Gás. Houston partners Pablo Ferrante and Jose Valera are noted for oil and gas deals in Mexico and beyond. New York's Kevin Sheridan has a significant focus on Latin America, covering a broad number of geographies and industry sectors, including in the agribusiness and natural resources industries. Sao Paulo partner Carlos Motta is also a highly reputed specialist in Brazil M&A, with Sao Paulo colleague Alexandre Chequer noted for energy M&A, while Raúl Fernández-Briseño is a key name in Mexico City.

Milbank plays to its strengths in the energy and infrastructure sectors in Latin America, most notably in deals for private equity and financial investor clients. Head of the global corporate group John Franchini has led a series of major transactions in the region, including advising GIC Special Investment on its joint acquisition -with Abertis Infraestructuras- of an approximately 72% stake in Red de Carreteras de Occidente, an integrated operator and developer of infrastructure and the largest privately-owned toll road concessionaire in Mexico. In another headline transaction, the firm advised Canadian Solar on its sale of three solar photovoltaic projects in Mexico to Korea Electric Power Corporation. Sao Paulo partner Fabiana Sakai plays a pivotal role on cross-border Brazil deals and recently advised Magazine Luiza on its agreement to acquire Netshoes. Francisco Nuñez was elected to the partnership in January 2020 and is another Latin America M&A specialist. Named individuals are based in New York unless stated otherwise.

Morgan, Lewis & Bockius LLP's Latin America practice is largely energy oriented, along with a high proportion of banking and telecoms deals. Private equity and venture capital is also an important segment for the group. The team has a fine record in Brazil and Mexico transactions, although it is active throughout the region. Recent mandates include advice to Enel on its proposed acquisition of Peruvian distribution and generation companies Luz del Sur and Tecsur, owned by Sempra Energy. Humberto Padilla Gonzalez is licensed in Mexico, New York and Texas and has deep experience in Mexico deals. Bolivian-born John Crespo handles transactions across the region, while Felipe Alice is licensed to practice in Brazil, Texas and New York. Washington DC partner Ulises Pin is a leader in Latin America telecoms deals.

Willkie Farr & Gallagher LLP is cementing its position in Latin America M&A with a growing depth of team. While more focused on project finance, the March-2020 arrival of Jorge Kamine from Skadden, Arps, Slate, Meagher & Flom LLP gives the firm additional credibility in energy transactions and more acute knowledge of the Brazil and Chile markets, among others. The firm is a growing force in Latin America private equity, both in the middle market and large-cap spaces, for clients such as Insight Partners. Insurance, energy and technology are also key industries for the Latin America team, which is led by Colombia native and M&A specialist Maria-Leticia Ossa Daza. Colombia and Mexico are other key markets for the overall practice. The core Latin America team in New York works especially closely with the Paris office, which is involved in a number of infrastructure projects in the region.

CMS has made rapid inroads into the Latin America M&A segment, in part thanks to the reputation and connections of its local teams, particularly in Peru, Colombia and Chile. With a track record of acting alongside US firms on cross-border M&A and private equity deals as well as working with European colleagues these offices have extensive experience in assisting multilatinas in their expansions and investments into other jurisdictions. An increasing amount of the firm's Latin America caseload is in the private equity sphere. The Mexico City office has a growing portion of M&A work, while the Rio team is noted for M&A in the energy sector, including oil and gas, particularly deals involving European entities. Key partners include Peru's Juan Carlos Escudero  and Chile partner Jorge Allende Destuet; both are noted for cross-border M&A and private equity deals.

Gibson, Dunn & Crutcher LLP remains best known for transactions involving the energy and infrastructure sectors. Its market leading compliance and investigations practice also provides it with strong capabilities in transactions involving additional sensitivities and complexities, such as anti-corruption concerns. Recent mandates saw the team advise GS Infrastructure Partners II, the investment fund managed by Goldman Sachs' merchant banking division, on the sale of its interest in Autopistas Metropolitanas de Puerto Rico. Lead partner Tomer Pinkusiewicz has extensive experience in energy and infrastructure deals. The team also advised Cell Site Solutions, the Sao Paulo-based Goldman Sachs portfolio company, on its sale to IHS Holding.

Ropes & Gray LLP is a global leader in private equity fund formation and private equity transactions, this being key to its flourishing Latin America practice. Many of its clients are private equity and financial investors, although strategic M&A also features prominently for Latin America. The firm's eminent anti-corruption and international risk group has also given it the platform to expedite the growth of the transactions-side of the Latin America practice. Chicago partner Matthew Posthuma is a key figure in fund formation, investments and other deals in Brazil, Mexico and other major economies. Boston partners Sarah Schaffer Raux and Christian Westra are noted for distressed transactions and private equity deals respectively.

Vinson & Elkins LLP remains well known for energy and infrastructure M&A, particularly in the upstream oil and gas sector and in the renewables field. It represents a wide array of international energy companies and private equity houses and recently advised Riverstone Energy on its agreement to invest $100m in independent Argentine oil and gas company Aleph Midstream. San Francisco partner Boyd Carano has strong credentials in Latin America upstream, midstream, power and clean energy deals. New York's Eamon Nolan is noted for Mexico power and renewables transactions; he led the team that advised Macquarie Infrastructure and Real Assets on its 2019  acquisition of multiple renewable power portfolios in Mexico. In January 2021, the team was further strengthened by the arrival of Gabriel Silva, a cross-border transactions specialist with a particular focus on digital infrastructure, from Linklaters LLP.