Corporate and M&A in Latin America: International firms

Inbound and outbound investments and M&A transactions were buoyant during 2021 and 2022. Venture funding in Latin America grew substantially in 2021, with venture-backed companies raising $14.8bn from 772 deals, according to PitchBook data. This has resulted in a much deeper focus on venture capital among international firms that are focused on the region. This includes Morrison Foerster, which is a regular adviser to the SoftBank Latin America Fund. Other firms such as Gunderson Dettmer LLP (which announced the opening of a Sao Paulo office in July 2022), Brown Rudnick LLP, Willkie Farr & Gallagher LLP and Miami-based PAG Law are increasingly active in venture capital financings in the region. This flood of capital has led to the rise of multiple unicorns in Latin America, although investment dropped in the first half of 2022 as investors were deterred by risk and volatility, which are often associated with the region.

Cleary Gottlieb Steen & Hamilton

Cleary Gottlieb Steen & Hamilton‘s prestigious history in Latin America has brought it a wealth of major multinational and Latin American corporate clients. Supplementing this, the Latin America team is increasingly active in transactions led by private equity funds, pension funds and sovereign wealth funds. Although noted for high-value and headline deals, the firm has also carved-out a significant market share in the growth-company space, notably in the digital and crypto segments. It remains active in the energy and natural resources sectors thanks to its connections to major Latin American corporates, including state-owned enterprises (SOEs). The firm is also at the forefront of both inbound and outbound transactions, experiencing a big upswing in US acquisitions and investments by Latin American clients, especially Brazil and Mexico-based businesses. The Southern Cone is another region of strength; it is one of few international firms to have a Buenos Aires office. Jeffrey Lewis has an outstanding record in energy and natural resources transactions, including for SOEs. Chantal Kordula  has an impressive record in M&A and projects in Mexico and other Latin American jurisdictions. Sao Paulo partners Juan Giráldez and Francisco Cestero have been pivotal to the firm’s growing presence in cross-border and growth company M&A in Brazil. Francesca Odell is also rated for Latin America M&A and private equity deals, while at associate level, Jessica Batlle Welling impresses. Buenos Aires partner Andrés De La Cruz has retired.

Key clients



Banco Bilbao Vizcaya Argentaria (BBVA)

Aleph Internet Media Services


Goldman Sachs

Grupo Bimbo

JP Morgan Securities

Automotores Gildemeister

América Móvil

AMI Holdings

Compass Minerals

Work highlights

  • Advised Vale on its acquisition of Mitsui & Co’s 15% interest in the Moatize coal mine in Mozambique, together with Mitsui’s 50% stake in the related Nacala Logistics Corridor assets in Mozambique and Malawi.
  • Adviseed SoftBank on its equity investment in Univision Holdings, in connection with Univision’s acquisition of the content and media assets of Grupo Televisa.
  • Advised Banco Bilbao Vizcaya Argentaria on the sale of its Paraguayan subsidiary, Banco Bilbao Vizcaya Argentaria Paraguay, to Banco GNB Paraguay.

Latham & Watkins LLP

Latham & Watkins LLP has outstanding M&A and private equity credentials in Latin America, particularly in the energy and infrastructure sectors. It represents a number of big-name multinationals, such as Telefonica, and Latin American businesses that are frequently involved in transactions in the region. The Latin America team also supports a growing group of private equity players -such as Carlyle Group, Platinum Equity and Global Infrastructure Partners- that are making significant investments and divestments in the region; this includes advising the latter on its acquisition of Saavi Energia and its acquisition of a solar energy portfolio in Chile. The Latin America practice group continues to be especially active in key markets such as Mexico and Chile. Antonio Del Pino is a prolific adviser on corporate, M&A and private equity transactions throughout the region, including many deals valued in excess of $1bn. Madrid partner Ignacio Pallarés is also active in Latin America deals, while associate Alan Rozen impresses on both M&A and private equity matters. The practice was boosted in the energy and infrastructure segments with the November-2020 return of David Penna after a little over a year at the US International Finance Development Corporation.

Practice head(s):

Antonio Del Pino

Key clients

Global Infrastructure Partners

Platinum Equity


IENova (Infraestructura Energetica Nova)

Goldman Sachs

Carlyle Group


Emergent Cold Latin American

Cerner Corporation

American Airlines

Tresalia Capital

Cementos Balboa

Triumph Modular


Work highlights

  • Advised Global Infrastructure Partners (GIP) on its acquisition of Saavi Energía.
  • Advised Infraestructura Energetica Nova (IEnova) on it sale to Sempra Energy.
  • Advised Telefónica on the sale of a 60% stake in its fiber optic network in Chile to KKR.

Simpson Thacher & Bartlett LLP

With the election of Sao Paulo’s Paulo Fernando de Menezes Cardoso to the partnership in January 2022, Simpson Thacher & Bartlett LLP's Latin America practice now features six dedicated partners who are active on M&A transactions. The team is at the forefront of big-ticket private equity investments and exits, along with M&A in the financial services, energy and technology fields (including fintech investments in Brazil). The group has also experienced an uptick in outbound deals from Brazil, Mexico and other jurisdictions; it advised Braskem America, the affiliate of Brazil-based Braskem, on its minority investment into Nexus Circular. Todd Crider heads the Latin America group, dividing his time between New York and Sao Paulo, and has a fine record in private equity and M&A; he led the team that advised Patria on its headline business combination with Moneda Asset Management. New York partner Juan Francisco Méndez has a very strong reputation for deals in Chile, Peru, Colombia and Mexico. Jaime Mercado and the highly-rated emerging talent Juan Naveira are also key names in M&A and private equity, including big-ticket deals. Grenfel Calheiros is a leading name in Sao Paulo. All named individuals are based in New York unless stated otherwise.

Practice head(s):

Todd Crider


The STB team stands out for its 24/7 availability and the quality of its service. They have a knowledge of the region above many of their peers, which makes communication with the Latin American client very fluid and without misunderstandings. In my opinion, it is one of the best teams that attend clients and transactions in the region.

STB represented us as our US lawyers for a Brazilian deal. As such they could operate in both jurisdictions well. We felt they spoke our language too, literally with both English and Portuguese on offer at a very high level, but also culturally, they had good experience with start-up founders providing great advice to navigate the new waters we found ourselves in.

They know a lot about NY law and they also know the Latam practice, which makes it easy to reach effective agreements. Accessible, available people with the best will to team up with local executives.

Overall it was extremely important for us to have experienced negotiators who knew the ins and outs of the industry and STB represented us extremely well. Furthermore the billing offered to close the deal was extremely flexible and success-based, which was really important for a young start-up like ourselves.

Juan Naveira: always very committed to providing fast and effective solutions to the client. He has tremendous negotiating skills and is always, always, always available. He is really a great lawyer in the region.

Working with Juan Naveira and his team was a fantastic experience. Their 24/7 availability, technical excellence and negotiation skills make them an exceptional team. Much better disposition to conciliate than other lawyers with whom I have had to work.

Key clients

Actis Capital

Advent International

Apax Partners

Avianca Airlines


Banco Caja Social

Banco Comafi

Blackstone and Blackstone Real Estate Partners

Blue Water Worldwide

The Boeing Company



Compañía Cervecerías Unidas

Celulosa Arauco

Centro Financiero BHD

Certares Management


Compañía de Petróleos de Chile (COPEC)



Credit Suisse



Embotelladora Andina

Empresa Nacional de Telecomunicaciones

Encourage Capital


Goldman Sachs

Grupo Axo

Grupo Phoenix

Grupo Romero

Inversiones Alxar

Inversiones Piuranas

JP Morgan


Laureate Education

Localiza Rent a Car

Mercantil Colpatria



Pátria Investimentos


Riverwood Capital


San Miguel Industrias PET

Santo Domingo Group


Sura Asset Management


Work highlights

  • Advised KKR on its agreement with Telefónica to establish Chile’s first open-access wholesale fiber optics company.
  • Advised Creditas Financial Solutions on its strategic partnership with Nu Pagamentos (Nubank) to allow Brazilian customers access to Creditas products and services directly through Nubank’s application.
  • Advised Patria on its announced business combination with Chile-headquartered Moneda Asset Management.

Skadden, Arps, Slate, Meagher & Flom LLP

Skadden, Arps, Slate, Meagher & Flom LLP is at the forefront of strategic M&A and financial sponsor-driven transactions in Latin America. The firm consistently advises on deals valued in excess of $1bn, along with a steady pipeline of mid-market deals. It represents a wide range of multinationals, Latin American businesses and financial sponsors on deals in all corners of the region. This includes a recent spate of distressed M&A and restructuring transactions. Paola Lozano co-heads the Latin America practice and leads the Spanish language corporate group. The immensely experienced Paul Schnell co-heads the Latin America team and continues to advise on headline and landmark deals such as advising the Republic of Chile on its acquisition of Covid-19 vaccines from Brazil. Mathias Von Bernuth and Filipe Areno provide further senior-level M&A expertise in Sao Paulo. Chicago-based counsel Ralph Pérez is also increasingly active in the region. Named individuals are based in New York unless stated otherwise.

Practice head(s):

Paola Lozano; Paul Schnell

Work highlights

  • Advised the special committee of the board of Alpha Latam Management on the sale of its Colombian assets.
  • Advised AustralianSuper, which in conjunction with Stonepeak, undertook a $2.7bn investment in -and acquisition of- Lumen Technologies’ Latin American business.
  • Advised Brazilian digital bank, C6, on JPMorgan Chase’s acquisition of a 40% ownership stake (subject to regulatory approvals).

Sullivan & Cromwell LLP

Sullivan & Cromwell LLP has an outstanding record in headline and landmark M&A deals in Latin America. The lean team of Latin America partners handle a variety of transactions and practice areas, and have extensive connections in the region. The practice has a particularly strong record in the mining and natural resources, and financial services, sectors. A group led by the highly acclaimed Sergio Galvis advised Sumitomo Metal Mining and Sumitomo Corporation on the $1.7bn sale of a 45% interest in Sierra Gorda, the operating company for the Sierra Gorda copper mine in Chile’s Antofagasta region, to South32. In another headline transaction, Werner Ahlers led a team that advised The Not Company, a fast growing food tech company in the region, on its joint venture with Kraft Heinz. Christopher Mann is another seasoned professional with extensive Latin America M&A experience.

Practice head(s):

Sergio Galvis

Clifford Chance

Clifford Chance has an extensive record in energy and infrastructure transactions in Latin America. It is also at the forefront of advising private equity and financial sponsors on their investments and divestments in the region. With Latin America M&A specialists in its Sao Paulo, New York and Madrid offices, it has a solid pipeline of corporate and M&A engagements. The practice continues to develop its standing in Brazil transactions, notably in the fintech area, which includes venture capital funding arrangements. The Latin America team has also successfully targeted growth markets such as Ecuador and has landed a series of engagements in telecoms and data centre transactions. Sao Paulo managing partner Anthony Oldfield is a seasoned corporate and M&A specialist with impressive connections to Brazilian corporates and investors. David Brinton has an extensive record in energy, infrastructure and natural resources transactions in Latin America, including private equity investments and divestments. Thais Garcia, who splits her time between New York and São Paulo, is a fast-emerging talent with a burgeoning record in Latin America M&A and private equity transactions, especially in Spanish speaking jurisdictions. Madrid’s Javier Amantegui and Samir Azzouzi are also active in Latin America deals. Senior associate Carla Ruggero is also noted. All named individuals are based in New York unless stated otherwise.

Practice head(s):

David Brinton; Anthony Oldfield; Javier Amantegui


The team is simply exceptional. In addition, each of its members are lawyers with deep knowledge of the issues, and above all it is pleasant to work with them.

Thais Garcia has a great knowledge of energy sector M&A in LATAM and is a trusted advisor for trans-frontier transactions.

Clifford Chance advises on M&A transactions. The experience arising from advising on relevant M&A operations in a wide variety of sectors is very valuable and contributes a lot to the quality of the advice offered by this firm. The fluency in the Spanish language of its lawyers facilitated the interaction with the different teams of the company.

Thais García and Carla Ruggero are two Clifford attorneys who stand out for their extensive experience in advising on M&A transactions. Their brilliant journey allows them to always give alternatives to clients in the face of situations that arise in operations. They are very kind people and always available when needed. The command of several languages is also a great advantage.

Great commercial and negotiation experience with international partners and counterparties.

Agility of execution, holistic view and quality of work.

Key clients



Caisse de dépôt et placement du Québec (CDPQ)

Empresas Públicas de Medellín (EPM)


Interconexión Eléctrica (ISA)



Neon Pagamentos

Votorantim Cimentos

Work highlights

  • Advised Interconexión Eléctrica on its acquisition of minority interests in Internexa, a holding company in the telecoms sector in Latin America.
  • Advised affiliates of Brazil-based Fitesa on the acquisition of 100% of the equity of Tredegar Personal Care from Tredegar Corporation.
  • Advised Interconexión Eléctrica on its acquisition of the Costera Cartagena Barranquilla 4G toll road in Colombia.

Davis Polk & Wardwell LLP

Davis Polk & Wardwell LLP has an outstanding record in Latin America M&A, particularly in Brazil, but with extensive expertise in Chile, Mexico, Colombia, Argentina and other jurisdictions. The Latin America group is best known for capital markets work, but frequently advises on headline and big-ticket M&A transactions, including deals where it teams up with specialist M&A colleagues in New York and elsewhere. It is gaining a further presence in Brazil’s fintech market, including venture capital financings. Based in New York and Sao Paulo, Manuel Garciadiaz is head of the Latin America group and known especially for capital markets offerings, but with extensive expertise in large-cap M&A transactions; he led the team that advised Brazil’s XP on its $9.5bn merger with Itaú Unibanco’s XPart.

Practice head(s):

Manuel Garciadiaz

Key clients

AES Andes


Arco Platform

Banco Santander


Companhia de Concessão Rodoviária (CCR)

Companhia Siderurgica Nacional (CSN)


Digicel Group


Fibria Celulose


Natura Cosméticos






Triple S Management

Via Varejo

Vivo Participações


Work highlights

  • Advised Brazil’s XP on its $9.5bn merger with Itaú Unibanco’s XPart.
  • Advised fixed and mobile services provider Millicom on its $2.2bn acquisition of the remaining 45% equity interest in its Tigo Guatemala joint venture from its local partner in Guatemala.
  • Advised major sugar and ethanol producer, Cosan, on its corporate restructuring involving subsidiaries Cosan Logística and Cosan Limited merging into Cosan.

Debevoise & Plimpton LLP

Debevoise & Plimpton LLP ‘s prominence in insurance, infrastructure and private equity is evident in its Latin America M&A practice, along with energy, telecoms and mining. The team is also noted for transactions involving anti-corruption due diligence. It continues to represent a range of private equity houses and financial sponsors such as HIG Capital, CPPIB and Carlyle in Latin America deals, along with a number of international insurance companies. Maurizio Levi-Minzi co-heads the Latin America group and is a prolific adviser on M&A and private equity deals in the region. David Grosgold is highlighted for insurance and financial services deals in the region. At associate level, up-and-comer Sergio Torres is also noted, particularly for Brazil-related deals.

Practice head(s):

Maurizio Levi-Minzi


Knowledge and experience in cases involving Latin American companies, good case management in regulated companies. In-depth knowledge of the financial services industry.

David Grosgold – patient, detail-oriented, meticulous, tireless.

Key clients

Naviera Ultranav

BTG Pactual

Verizon Communications

HIG Capital Management


Prudential Financial



Brookfield Asset Management

Carlyle Group

Work highlights

  • Advised Naviera Ultranav (Ultranav) on the sale of its Ultragas fleet and business activities to Navigator Holdings.
  • Advised Banco BTG Pactual on its asset management joint venture with Kawa Capital Management.
  • Advised HIG Capital on its acquisition of a majority stake in Grupo Ransa.

Jones Day

Jones Day has an impressive record in high-value and bulge-bracket deals in Latin America, especially in Brazil and Mexico. The Latin America team frequently represents US-based and European multinationals in Latin America transactions, through its sizeable offices in New York, Miami, Mexico City and Sao Paulo. It is also increasingly active in representing Latin American businesses in outbound acquisitions into the US and Europe. Energy, financial services and technology are amongst its primary sectors. Wade Angus has a long history in Brazil M&A and private equity transactions. Head of the Sao Paulo office and the Latin America region Luis Riesgo is also noted for cross-border deals involving US-based and European businesses. Marcello Hallake is another experienced member of the team, along with Manuel Romano in Mexico City. Of counsel Artur Badra is also rated. All named individuals are based in Sao Paulo unless stated otherwise. Experienced Miami partner Enrique Martin  left the firm in May 2022.

Practice head(s):

Luis Riesgo; Wade Angus


Cost effective; pragmatic; very nice people to work with.

Pragmatic; client focused.

Key clients

Total Energies

Group 1 Automotive

Cemig Geracao e Transmissao


Greystar Real Estate Partners

Marfrig Global Foods


Entravision Communications


Hyatt International

Millicom International

Work highlights

  • Advised Cemig Geração e Transmissão on its offer to purchase up to $500m of its outstanding 9.250% senior notes (due 2024).
  • Advised JBS on its $408m acquisition of Vivera.
  • Advised TotalEnergies on its strategic alliance and investment agreement with Omaha Beach Investment, Sunix Petroleum and Tropigas Dominicana to help the Dominican Republic’s transition to renewable energy.

Paul Hastings LLP

Paul Hastings LLP has continued to develop a wide-ranging and extensive Latin America practice featuring a sizeable M&A team. Led by Michael Fitzgerald, the titan of the Mexico market, the wider team has broad geographic coverage including notable specialist expertise in Brazil, Colombia and Peru. With strong connections to major financial institutions that are active in Latin America, the team has also secured an impressive client base of Latin American businesses. Robert Leung and Mike Huang are prominent in Peru and Colombia deals, representing both domestic businesses and foreign entities; this includes both inbound and outbound transactions. Luke Iovine is another key team member, while highly-rated Sao Paulo partner Jonathan Kellner has made a big impression in the Brazil market in recent years. Sao Paulo associate Filipe Lima also impresses clients. Named individuals are based in New York unless stated otherwise. Former of counsel Veronica Rodriguez moved in-house at Televisa-Univsion in September 2021.

Practice head(s):

Michael Fitzgerald


Paul Hastings has very deep knowledge of the Brazilian market and legal issues that often arise in M&A. All this experience translates into superior negotiating skills and issue spotting for international clientes navigating Brazil.

Paul Hastings has a fantastic team! The team really digs deep into the customer arena and is pretty quick to learn and spot opportunities and threats.

Jon Kellner is a very skilled negotiator and problem solver in the context of cross-border and complex transactions.

Jon Kellner is a true master when it comes to overseeing his team, and Filipe Lima will definitely be a star at the firm, soon!

Key clients

SYN Prop e Tech


PwC Mexico

Uxmal Group

Goldman Sachs

Morgan Stanley

JP Morgan


Work highlights

  • Represented EIG Partners on the sale of its 27.5% interest in the TBG gas pipeline in Brazil to Belgian gas infrastructure group Fluxys.
  • Represented Uxmal on the acquisition of mining assets from a coal mining and logistics company located in Colombia, and its acquisition of logistics and mining assets from Glencore, including a port and a railroad.
  • Represented Brazilian real estate company SYN Prop e Tech on the $318m sale of its stakes in four office buildings to Brookfield Asset Management.

White & Case LLP

White & Case LLP has a dynamic Latin America M&A practice with deals throughout the region, particularly Brazil, Mexico, Chile and other larger economies. It continues to be active in energy, infrastructure, technology and financial services. It has also experienced growth in intra-regional deals and with Latin American businesses acquiring assets in the US; it advised QuintoAndar on its headline acquisition of operations of the Navent Group real estate platform in Brazil, Mexico, Argentina, Peru, Ecuador, and Panama. The firm is noted for both bulge-bracket and mid-cap deals, and benefits from having strong teams in Sao Paulo, Mexico City, Houston, Miami and New York. Rodrigo Dominguez Sotomayor has over 20 years experience in Latin American transactional matters and has been a key practitioner on a series of headline deals in recent years. William Parish is equally experienced in Latin America M&A, particularly in the energy sector. Sao Paulo office founder Donald Baker provides extensive cross-border M&A experience in Brazil. Marwan Azzi left the firm in 2021. Luisa Muskus impresses at associate level. All named individuals are based in Houston unless stated otherwise.

Practice head(s):

Carlos Viana; Chang-Do Gong

Key clients

Arroyo Energy Investment Partners

Caisse de dépôt et placement du Québec


I Squared Capital



OceanPact Serviços Marítimos


Sempra Energy

Ultrapar Participacoes

Zanite Acquisition

7 Bridges Capital Partners

IHS Towers

Work highlights

  • Represented Latin American proptech unicorn, QuintoAndar, on its acquisition of Navent Group’s online real estate technology platform business, including operations in Argentina, Brazil, Ecuador, Mexico, Panama and Peru.
  • Represented Zanite Acquisition, a special purpose acquisition company focused on the aviation sector, on its agreement to enter into a definitive business combination agreement with Brazilian aerospace manufacturer Embraer.
  • Advised Sempra Energy on its $2.1bn stock-for-stock acquisition of the remaining stake in Infraestructura Energética Nova (IEnova), a large-scale owner and operator of renewable power assets and energy transportation and storage in Mexico.

Covington & Burling LLP

Covington & Burling LLP stands out for its focus on private equity transactions in Latin America. The core Latin America M&A team also leverages the firm’s highly-rated regulatory and public policy expertise in numerous deals in the region. It also has an extensive record in corporate and M&A transactions, notably in the technology, financial services and energy sectors. Gabriel Mesa is an experienced figure in private equity and strategic acquisitions in Latin America, as is seasoned senior counsel Rubén Kraiem, head of the LatAm-focused transactional practice who brings some 30 years’ experience to the table. M&A focused Gustavo Akkerman was promoted to special counsel in 2021, while dual-qualified senior associates Laura Bleier (Colombia/New York) and Barbara Asiain (Mexico/New York) -a July 2022 hire from Winston & Strawn LLP– are both up-and-comers of note. All are based in New York. Sergio Urias, the former co-chair of the firms private equity practice and a genuine Latin America specialist, left the firm in June 2022.


The Covington team is very structured when it comes to supporting issues. They are serious and responsible, and always seek to meet the promised response times. It is a team that manages to be close to the client and that allows not only the partner but also other lawyers to have a prominent role.

They are focused on providing a comprehensive service, knowing the client properly and always looking for other aspects of support where the client may need them. They even go to the trouble of sacrificing billing hours in order to increase proximity.

Gustavo Akkerman and Gabriel Mesa – working diligently in order to meet the time line requested by the cleint with expertise.

Key clients

Grupo Bursátil Mexicano

EMX Capital

Industrias Mass

General Electric Company

Prisma Medios de Pago


Linzor Capital

Grupo Proeza

The Nature Conservancy


Work highlights

  • Advised EMX Capital, a spin-off from The Carlyle Group, in a general partner (GP)-led secondary fund restructuring; the deal is the first one of its kind in Mexico.
  • Advised Grupo Bursátil Mexicano on its agreement with the SoftBank Latin America Fund, under which the SoftBank unit will invest up to $150m million into a subsidiary of GBM.
  • Represented Merck in the $9bn spin-off of Organon & Co, its business unit focused on women’s health, which has listed on the NYSE.

DLA Piper LLP (US)

DLA Piper LLP (US)‘s wide-ranging presence in the region itself, along with Latin America-facing offices in the US, ensure that it is well positioned for cross-border acquisitions, investments and divestments. The Latin America team represents a range of multinationals and an increasing number of private equity houses and other financial sponsors. The firm has a particularly strong Bogota office that has landed a number of big engagements from international clients. The Miami and San Diego offices are also regularly mandated on big-ticket deals. Miami partner Francisco Cerezo is chair of the Latin America corporate and finance practice, and has extensive deal experience in the region. San Diego partner Raul Farias provides further senior level expertise in energy and financial services deals in particular. At associate level, dual-qualified (Miami/Puerto Rico) Joseline Rodríguez is noted.

Practice head(s):

Francisco Cerezo


Practical and agile advice, integrating different jurisdictions and tax impacts.

Understanding of complex structures and multi-jurisdictions.

Key clients

3R Petroleum

Luma Energy LLC

Macquarie Infrastructure and Real Assets and Macquarie Infrastructure Partners V

Grupo Exito

Southern Cross

Live Nation Entertainment


Ecolab Group

Banco Latinoamericano de Comercio Exterior (Bladex)

Banco Nacional de Comercio Exterior, Sociedad

Nacional de Crédito, Institución de Banca de Desarrollo (Bancomext)

Banco Votorantim

China Construction Company

Credito Real


Delivery Technologies (Uber Chile)


Petrobras Americas

Juan Valdez – Procafecol

The Bank of Tokyo-Mitsubishi

Sempra Energy/IEnova

Linzor Capital

Work highlights

  • Advised Macquarie Infrastructure and Real Assets and Macquarie Infrastructure Partners V on the acquisition of 50% of Odinsa’s road concession business in Colombia.
  • Advised Southern Cross on the sale of 77% of Sociedad Portuaria Puerto de Barranquilla to Squared Capital.

Greenberg Traurig LLP

Head-quartered in Miami, Greenberg Traurig LLP naturally has deep connections to Latin America. It has attracted a wealth of Latin American businesses as clients and has landed a series of impressive engagements from multinationals and financial sponsors with interests and assets in the region. Additionally, it has made a particular impression in SPAC transactions in the region, and has continued to expand its geographic reach beyond its traditional focus on Mexico and Central America; it has a sizeable office in Mexico City. The practice is also noted for representing Latin American businesses in outbound transactions into the US, particularly Florida. Yosbel Ibarra is co-managing shareholder of the Miami office and has decades of experience in Latin America deals. Antonio Peña has become co-chair of the Latin America practice and continues to make an impression in headline transactions, including SPAC deals; he led the team that advised Procaps Group on its business combination with Union Acquisition Corp II, resulting in the first public listing of a Colombian company in over 10 years. Emilio Alvarez-Farré is another hugely experienced Latin America specialist and of counsel Arnaldo Rego is further noted for deals in Brazil and other jurisdictions in the region. Carol Barnhart is another senior name with an impressive track record in Latin America. The practice was further strengthened in August 2022 with the hire of Henry R Roque from Holland & Knight LLP in Miami. Since publication, Rego has been promoted to shareholder - effective as of March 2023.

Practice head(s):

Marc Rossell; José Raz Guzmán


Always attentive and willing to help with the needs of the team. Their knowledge about the company makes a difference.

The plus is always the treatment, agility, organisation and knowledge of the company above all things. That makes the job much more enjoyable. In the case of Antonio Peña, his treatment and knowledge of the company are impeccable. Always ready to help.

Their experience in complex transactions, as well as their close relationship with clients, allows them to have a complete vision of the situation and needs of their clients.

Knowledge, good business judgment, excellent relationships and customer service. Yosbel Ibarra has extensive experience in complex businesses and provides sound advice with practical vision and vision of getting business done.

The concrete and precise form of communication with the client, understanding that they are an executive. Practicality in the concepts always taking care of the needs of the business and under the framework of the law. Availability and appropriate response and attention times. Centralization of customer needs even when dealing with different topics and areas of expertise. It’s easy to have a single point of contact that aligns your internal team for the right support.

The availability in response times by the account leader, always pending and responding in a practical way on time according to the needs of the client and understanding the sense of urgency. Carol Barnhart and Yosbel Ibarra – something that is key is the understanding of the client’s budget, creating efficiencies and guaranteeing quality in work and attention time.

Key clients

Procaps Group

Riverwood Capital Partners

DD3 Acquisition Corp II


Distribuidora La Florida

OneLink Holdings and One Equity Partners

Aceros Arequipa


Hugo Technologies

Levered Alsis Mexico Housing Opportunities Fund and Levered Alsis Mexico Opportunities Fund Offshore

EFL Global

Work highlights

  • Represented Procaps Group in its business combination between Union Acquisition Corp II, a blank check company, and Ozelm, a subsidiary of Procaps Group, and the subsequent listing of the shares and warrants of Procaps Group on the Nasdaq Global Market.
  • Represented Navent Group, a portfolio company of Riverwood Capital, in its sale to QuintoAndar Servicos Imobiliarios, one of the largest online real estate agencies in Brazil.
  • Advised DD3 Acquisition Corp II, a blank check company, on its definitive business combination agreement with Codere Online, an online sports betting and online casino mobile application.

Hunton Andrews Kurth LLP

Hunton Andrews Kurth LLP has an extensive record in Latin America inbound and outbound transactions, though it is best known for advising major multinationals such as Santander, Mondelēz and Diageo on their interests in the region; this includes headline M&A transactions, joint-ventures and distribution agreements. The core Latin America corporate team, which is largely based in Miami, has also landed a number of inbound deals from Latin America; financial services M&A has been especially prominent. Moreover, its knowledge of the region and expertise in cross-border deals has led to a series of engagements on intra-regional deals, particularly where the contracts are under New York law. The team continues to be noted for its experience in Central America, along with major economies such as Brazil, Argentina and Chile. Its deep cultural and language connection to the region involves three Miami-based Hispanic partners in the highly-rated Fernando Alonso, Fernando Margarit, Uriel Mendieta. Dual-qualified (New York/Miami) associate Gabriel M Lopez is also noted.

Practice head(s):

Fernando Alonso

Key clients

Santander Bank

Mondelēz International


Sucro Can Sourcing



Banco Santander International

Banco Sabadell

Beta Capital

Credit Andorra

Promerica Financial Corporation

FCC Aqualia

Work highlights

  • Advised the client on its acquisition of Indosuez Wealth Management, the global wealth management business of Crédit Agricole group.
  • Advised the client on its acquisition of a controlling interest in Payless Shoesource and its affiliates.
  • Advised the client on the potential acquisition of Dufreco International Trading Holding’s indirect membership interests in Tubex, a Guatemalan sociedad anonima, and Tubos y Perfiles, a Honduran sociedad anonima de capital variable.

Mayer Brown

Mayer Brown‘s Latin America M&A practice is primarily driven by energy transactions, especially in the oil and gas segment. Through Tauil & Chequer Advogados, its associated firm in Brazil, the firm has landed a series of headline deals in oil and gas, including those linked to Petrobras’s divestment programme. It advised Caisse de dépôt et placement du Québec (CPDQ) on its acquisition, alongside Engie, of the remaining 10% stake in Transportadora Associada de Gás (TAG) from Petrobras; with the original acquisition of the 90% stake, this involved a total investment of more than BRL34.5bn – the largest M&A transaction in Brazilian history. The Latin America team has also advised on a number of LNG-to-power and gas-to-power M&A transactions, and continues to be involved in renewable energy deals in Chile. Houston partners Pablo Ferrante and Jose Valera have a huge amount of experience in energy M&A; in Brazil, Carlos Motta is a key name in Sao Paulo as is Alexandre Chequer in Rio de Janeiro; and in Mexico City, Raúl Fernández-Briseño is the key transactional contact. Vera De Gyarfas moved in-house in July 2021.

Practice head(s):

Pablo Ferrante; Jose Valera


They have a very strong Latam practice. I was able to witness how they can successfully bridge cultural and legal differences. They can easily interact with US law firms, as well as local Latam law firms and Latam-based clients.

To usual legal proficiency of top US firms, Mayer Brown adds great local knowledge for Latam deals as well as being a very effective interphase among all parties and advisors in the transactions.

Key clients


Aegea Saneamento

Caisse de dépôt et placement du Québec (CDPQ)

Ceiba Energy



Sforza Group

TS Infraestrutura e Engenharia

Warner Media

Vista Oil and Gas

Work highlights

  • Represented Warner Media in the sale of Red de Televisión Chilevisión to ViacomCBS Networks International.
  • Represented Caisse de dépôt et placement du Québec (CPDQ) in the acquisition (in conjunction with Engie) of the remaining 10%-stake in Transportadora Associada de Gás from Petrobras.
  • Represented Covalto in the acquisition of 100% of the membership interests in Fortius Intermediate Holdings.


Milbank has demonstrated a longstanding commitment to Latin America with corporate and M&A transactions becoming an increasingly important component of the overall regional practice. Much of the corporate and M&A transactional practice centres on energy and infrastructure, with an ever increasing number of private equity and financial sponsor engagements in this space. The firm’s prominence in the aviation sector has also brought it a number of headline restructuring mandates. John Franchini, head of the global corporate practice, is a regular adviser to private equity houses, sovereign wealth funds and other financial sponsors on Latin America-related investments and divestments; he also led the team that advised Cementos Progreso on its agreement to acquire CEMEX’s operations in Costa Rica and El Salvador for some $335m. Francisco Nuñez and Aaron Stine are also up-and-coming names in the team.

Practice head(s):

John Franchini; Dan Bartfeld; Marcelo Mottesi


Very experienced and focused team, with cross-border knowledge and practical, results oriented advice.

Very compact team that has worked together over many deals and over many years. Knowledgeable across regulated and non-regulated areas. Practical.

Key clients


Abu Dhabi Investment Authority




Caisse de dépôt et placement du Québec

Canadian Solar

Cementos Progreso

GIC Special Investment Pte


Magazine Luiza


New Fortress Energy

Oaktree Capital Management


Ontario Teachers’ Pension Plan

Partners Group


Work highlights

  • Advised Avianca, the second-largest airline in Latin America, on its multibillion-dollar Chapter 11 restructuring.
  • Advised Cementos Progreso on its agreement to acquire CEMEX’s operations in Costa Rica and El Salvador for some $335m
  • Advised Actis in connection on the sale of Saavi Energía, the owner of a portfolio of power generation assets in Mexico, to a newly formed vehicle held by Global Infrastructure Partners.

Morgan, Lewis & Bockius LLP

Morgan, Lewis & Bockius LLP has a healthy track-record in power and renewables deals, including projects acquisitions. Its primary markets are Brazil and Mexico, although it has achieved further growth in Chile and the Southern Cone, along with a number of other jurisdictions. The firm’s prominent Boston office has also played a key role in developing its standing in fintech and life sciences deals in the region, particularly in Brazil. Moreover, its reputation in Latin America has led to a number of outbound engagements as regional businesses seek to invest in and acquire assets in the US. The largely Houston-based Latin America team features practice head John Crespo, Mexico specialist Humberto Padilla Gonzalez and Brazil licensed Felipe Alice. Washington DC partner Ulises Pin is noted for telecoms transactions in the region.

Practice head(s):

Thomas Mellor; John Crespo


The pragmatic professionalism that this team offers is unique. They are a practice that brings all the technical muscle of a premium “big law” firm with ease of disposition and linguistic ability which always helps when dealing with Latin American clients.

Humberto Padilla for transactional corporate issues – young, dynamic, proactive!

Key clients



Atlas Capglo


Grupo Elektra

Grupo Prolamsa

Desarrolladora Ranman/Ranman USA/Dreamlab Ventures

ICA Tenedora (Empresas ICA)

Lala US

Work highlights

  • Advised Sigga Technologies in connection with its corporate and tax restructuring and on the sale of a majority stake in Sigga’s worldwide business as a developer of SAP-integrated platforms to US private equity fund, Gemspring.
  • Advised Descartes Systems Group on its acquisitions of GreenMile and Green Mile Brasil Locação de Software.
  • Advised Grupo Financiero Ve por Mas, a publicly traded financial group listed on the Mexican Stock Exchange, on its strategic alliance with fintech company Appriza Pay.

Proskauer Rose LLP

Proskauer Rose LLP has a stable team of Latin America specialists based in its New York and Sao Paulo offices. The group represents a mix of multinationals, multi-latinas and financial sponsors, particularly in the financial services, energy and natural resources, mining and metals, and life sciences industries. It has a small group of sizeable Latin American clients that provide regular engagements, such as BTG Pactual and The Gilinski Group. The head of the Latin America practice, Carlos Martinez, is a seasoned corporate and M&A specialist with inordinate knowledge of the continent, while Daniel Ganitsky , co-head of the M&A practice, can also draw on his longstanding focus on the region. Recent matters saw the pair lead advice to anchor client The Gilinski Group on its two takeover bids in Colombia to acquire Grupo Nutresa and Grupo Suramericana. Other mandates have seen the practice acting in Brazil, Chile, Guatemala, Mexico, Paraguay and Peru of late. Both partners are based in New York.

Practice head(s):

Carlos Martinez; Antonio Piccirillo


The Proskauer team is a highly solvent team with an extraordinary degree of commitment and proactivity when coordinating and attending to the orders and transactions in which they participate. They also have an excellent practice with Latin American companies. The billing associated with its services is very competitive and responds to the quality and standards that one looks for in a firm of this level in NY.

Daniel Ganitsky is not only an excellent lawyer, but someone very deeply committed to his clients. He has great initiative in the search for solutions and does not seek a leading role that could affect the transaction. He is a highly sophisticated and competitive attorney.

Key clients

Banco GNB Paraguay

BTG Pactual

Corporación Interamericana de Entretenimiento

The Gilinski Group

GNB Financial Group

TV Band

Work highlights

  • Advised the Gilinski Group on its two takeover bids in Colombia to acquire Grupo Nutresa and Grupo Suramericana.
  • Represented a consortium of institutional investors led by BTG Pactual in the $385m acquisition of a significant Chilean timberland business.
  • Represented TV Band on the negotiation of transmission agreements with the Formula One group to transmit Formula One racing over the Band television and radio network.

Winston & Strawn LLP

Winston & Strawn LLP‘s Latin America group has a substantial emphasis on M&A and private equity. This includes both inbound and outbound transactions. The firm launched a Miami office in May 2022, appointing senior Latin America M&A specialist Enrique Martin (a recruit from Jones Day) as managing partner. The wider team has experienced a further uptick in acquisitions and investments by Latin American businesses in the US, including deals originating from Argentina, Colombia, Brazil, Ecuador and El Salvador. The firm has made a real impact in Brazil deals following the 2021-hire of ‘incredible lawyer’, Rodrigo Carvalho, the former head of investment banking (legal division) at Bank of America in Brazil, who is now based in Sao Paulo. The Latin America team also continues to be at the forefront of private equity investments and funds formation thanks to the presence of Latin America practice group co-head Talbert Navia. It remains noted for its record in Chile, in part due to its connection to Enel Américas, the Santiago based electricity conglomerate. Co-head of the Latin America team Allen Miller is widely recognised for his record in public M&A for Latin American businesses, including Enel Américas. Kevin Smith is another experienced figure in Latin America M&A and private equity. All named individuals are based in New York unless stated otherwise.

Practice head(s):

Talbert Navia; Allen Miller


Talented team and client-focused.

W&S is an exceptional law firm with capable attorneys.

What makes Winston & Strawn’s practice unique in Latin America is the experienced partner Rodrigo Carvalho, who had worked at Bank of America and is familiar with the concerns from the business point of view and goes beyond the standard legal analysis.

Despite the tremendous deal experience the team, led by Rodrigo Carvalho in Brazil, has, it is also very agile and available in all demands, allowing a relationship of trust to develop during M&A transactions.

Rodrigo Carvalho who leads Winston in Brazil is an incredible lawyer, high skilled business wise, available and delivers a quality advisory services in all assignments. We have done a deal together and the experience has been awesome.

Partner Rodrigo Carvalho is a remarkable corporate lawyer, he is smart and understands business.

‘Rodrigo Carvalho is an amazing lawyer, very smart, connected and always available.’

Key clients

Grupo Peñaflor

Enel Américas

Enel Chile

Sociedad Química y Minera de Chile (SQM)

Southern Cross Group

ACON LatAm Management

Grupo Wiese

Fazenda Futuro Produtos Alimenticios

Miffin Associates Corp

Pura Fibra (Pure Fiber)

Work highlights

  • Represented Enel Américas in a $6bn merger with EGP Américas.
  • Advised Enel on a $1.5bn cash tender offer for upto 10% of the outstanding shares (and ADRs) in Enel Américas.
  • Advised Bemberg Family Group holding Terold/Grupo Peñaflor on its acquisition of a majority stake in California-based WX Brands, a leading global wine company.

Baker McKenzie LLP

Baker McKenzie LLP‘s extensive team, spread across multiple offices in Latin America and the US, provides a strong platform for a thriving M&A and corporate restructuring practice. It benefits from a client base of both Latin American business and multinationals, frequently engaging the firm on cross-border transactions, including inbound, outbound and intra-regional transactions. A case in point saw the team advise Pronto Money Transfer on its $157m sale to Banco Inter. Sao Paulo’s Daniel Facó and Rio de Janeiro’s Anna Mello, partners at associate firm Trench Rossi Watanabe, are experienced cross-border M&A specialists, along with Liliana Espinosa in Lima.


Cuatrecasas‘ longstanding commitment to Latin America – which includes offices in Chile, Colombia, Mexico and Peru – has enabled it to develop considerable deal experience and an impressive client list. The Spain-headquartered firm has continued to expand its ranks in Colombia, Chile and Peru with a number of hires at senior levels, most recently the July-2022 hire of corporate transactional, capital markets and private equity partner Diego Carrión   in the Lima office. The practice represents both multinationals and Latin American businesses, along with a number of private equity houses and other financial sponsors, in primarily large-scale and mid-market transactions. The team is particularly known for energy and infrastructure transactions, along with deals in the healthcare and retail sectors. Key partners include Chile’s Roberto Guerrero , Colombia’s Alfonso Reina  and Peru partner Óscar Trelles . The regional practice is anchored from the firm’s New York office by Antonio Baena , who has developed strong connections to multinationals and investors with interests in Latin America and Spain; corporate M&A specialist Diego Pérez-Yarza who arrived from Madrid back in 2019; and -since September 2022- by banking and corporate practitioner Alfonso Ugarte , hitherto in the firm’s Santiago de Chile office. Spanish associate Ignacio Inigo  has also relocated to New York to reinforce the team’s bankruptcy and restructuring capabilities.

Practice head(s):

Oscar Trelles

Key clients

Platinum Equity

Naturgy Energy Group

Fibra Orión (Fibra E)


Empresas Gasco, Abastible (Copec)



Compañía General de Electricidad (CGE)



Work highlights

  • Advised Naturge Energy Group on the €2.75bn sale of its 96.04% stake in major Chilean power distributor, Compañía General de Electricidad, via tender offer, including all required regulatory approvals and authorisations.
  • Advised Essity on two successive aquisitions – of $674.8m and $63.75m, respectively – so as to increase it shareholding in Colombian-based multi-latina Productos Familia to 94%.
  • Advised Cementos Progreso on the $335m acquisition of Cemex El Salvador and Cemex (Costa Rica).

Herbert Smith Freehills

Herbert Smith Freehills' Latin America corporate group is primarily known for its work in the mining and resources, and energy (including oil and gas) sectors. The firm is increasingly active in energy-transition transactions, including in the renewables and green hydrogen areas. It also continues to be noted for Brazil energy deals and mining and resources transactions in Chile, Colombia and Peru. The firm has successfully leveraged its international presence with a number of engagements from international investors, including Australian, Chinese and Spanish entities, in big-ticket acquisitions and divestments in Latin America. London partner Laura Hulett, ‘a true star‘,  is experienced in Brazil oil-and-gas deals, including transactions linked to Petrobras’ recent divestment programme; she is also increasingly prominent in renewables deals. New York’s Edward Dougherty is a finance lawyer by background, and has ‘deep knowledge in M&A transactions and structured financings', particularly in the oil-and-gas sector. Former Latin America head Pedro Rufino Carvalho departed in 2021 to become global general counsel at Patria Investments.

Practice head(s):

Edward Dougherty; Laura Hulett


HSF provides an outstanding legal advisory service. The firm has a wide diversity program and top notch facilities. Their cross border experience jointly with offices / partners in Africa, Americas, Asia, Australia, Europe and Middle East make their M&A practice unique.

Edward Dougherty, co-head of the Latin America Practice, has a deep knowledge in M&A transactions and structured financings, specially involving Lat Am companies. Very available /reachable and business oriented without leaving spaces for risks.

The team covered internal and affiliate offices in different regions (London, Singapore, Hong Kong and Mexico), different time zones. Though this might seem similar to other large firms, they worked seamlessly in satisfying our regular needs, covering different topics on specificities of English Law, tax law of various jurisdictions, and anti-corruption requirements.

Key clients

Trident Energy


Energea Global

China Power International Holding


3G Radar

Elawan Energy




Work highlights

  • Advised South32 on the $2bn purchase of a 45% stake in Chilean copper mine Sierra Gorda from Japanese conglomerate Sumitomo.
  • Advised the state-owned national petroleum exploration and production company of Thailand, PTTEP, on the sale of onshore oil fields in Brazil.
  • Advised Energea Global on its JV with Victory Hill to develop renewables projects in Brazil.

Hogan Lovells US LLP

Hogan Lovells US LLP has a large Latin America team spread across multiple offices in the Americas, including in Miami, Houston, Mexico City and Sao Paulo. With particular experience in acquisitions of and investments in projects and energy assets, the firm also has a breadth of M&A experience for both corporates and financial investors. Miami office managing partner Jorge Diaz-Silveira is a notable figure in M&A transactions, especially in the projects, energy and infrastructure fields. Juan Francisco Torres Landa is a leading name in Mexico City, where he has extensive experience in cross-border deals.

Holland & Knight LLP

Holland & Knight LLP has a substantial team of Latin America corporate and M&A specialists. The firm’s Miami and New York offices operate as its principal hubs for servicing the region, these being complemented by the firm’s presence in Mexico City and Bogota. The group represents a range of multinationals with interests and assets in Latin America. It has also landed a number of engagements from private equity investors, making investments and acquisitions in the region. The core Miami team, in particular, has broad geographic coverage, often taking on roles with multi-jurisdictional elements. A team led by George Mencio and Aymee Valdivia advised Mitsubishi Power Americas on the corporate rebranding of Mitsubishi group subsidiaries in the Americas following the termination of the joint-venture between Mitsubishi Heavy Industries and Hitachi; this involved multiple jurisdictions across Latin America. Danielle Price and Roberto Pupo, chair of the Latin America practice group, are also senior names in Miami with extensive experience in Latin America corporate and M&A matters. Paulo Varnieri has joined the Washington DC office, having been the general counsel for CCR USA, a division of Brazil-based CCR, the large Latin American infrastructure business. The Miami team has also been strengthened with the arrival of corporate partner Alexandra Aguirre –from Morrison Foerster– in June 2022, but subsequently saw the departure of Henry R Roque in August.

Practice head(s):

Roberto Pupo


The team of lawyers definitely distinguishes with their constant dedication and professional experience in the area of consultation.

Aymee Valdivia, constant follow-up of the case and has an ability to distill needs and options.

Key clients

Laureate Education


Mitsubishi Power Americas

Quality 1 Export

Trivest Partners

General Dynamics Information Technology


Work highlights

  • Advised Mitsubishi Power Americas on the corporate rebranding of Mitsubishi group subsidiaries in the Americas (involving multiple jurisdictions across Latin America), following the termination of the joint-venture between Mitsubishi Heavy Industries and Hitachi.
  • Advised Trivest Growth Investment Fund II on its strategic growth investment in Buenos Aires-based fintech provider, Veritran.
  • Advised General Dynamics’ Mexican subsidiary on new Mexican outsourcing regulations that came into effect in June 2021.

Linklaters LLP

Linklaters LLP's core Latin America group demonstrates genuine versatility across practice areas and transaction types. The firm’s longstanding commitment to Latin America, primarily through its New York and Sao Paulo offices, has resulted in a series of major M&A engagements in key growth areas such as agribusiness and SPACs. It advised Bioceres Crop Solutions (BIOX), the Argentina-based crop productivity solutions business, on its merger with Marrone Bio Innovations, the NASDAQ-listed agricultural company. Matthew Poulter is a prominent figure in Sao Paulo with Madrid managing associate Alberto García Linera leading the firm’s Mexico group.

Shearman & Sterling LLP

Shearman & Sterling LLP has a long history in Latin America and a substantial global corporate practice, which is frequently deployed on Latin America mandates, including strategic M&A and private equity deals. The firm has an especially strong record in financial services, energy and infrastructure, mining and resources, and media and entertainment. New York’s George Karafotias has advised on a number of deals in the region; Austin-based Cassandra Cuéllar (who made partner in July 2022) is focused on Latin America’s emerging growth segment and undertakes a broad range of corporate transactions, particularly with entrepreneurs, venture capital  investors and corporate venture funds; while Houston counsel Gabriel Salinas is noted for oil-and-gas deals in Mexico and also has a  growing practice in green hydrogen. Since publication, Salinas has left the firm.

Practice head(s):

Scott Petepiece; George Karafotias

Key clients


International Finance Corporation



Anglo American

Banco Bradesco

Work highlights

  • Advised Amyris on a $100m joint venture with Ingredion, a global ingredient solutions provider to the food and beverage industry.
  • Advised International Finance Corporation on its PIPE investment in Union Acquisition Corp II’s merger with Procaps Group.
  • Advised ViacomCBS on its acquisition of the Chilevisión television channel from WarnerMedia.

Sidley Austin LLP

Sidley Austin LLP has a lengthy history of working on headline Latin America transactions, including high-value deals in multiple jurisdictions. It is also known for its expertise in Latin America-focused fund formation, and has been growing notably in the impact-funds segment. In addition, the Houston office has a long track-record in energy transactions. The Latin America team has an impressive client list of multinationals, Latin American businesses, and asset managers and financial sponsors. New York partner Alyssa Grikscheit has extensive experience in Latin America M&A and fund formation. Boston’s Alexander Temel has worked on a series of private equity investments and acquisitions in the region. Since research concluded, the firm has significantly bolstered its team in Miami with the hire of Juan Delgado, who handles M&A, corporate and bank financings, private equity, capital markets and restructuring; and dual-qualified (Florida/Washington DC) manging associate Axel Miranda, from Morrison Foerster – effective as of July 2022.

Practice head(s):

Alyssa Grikscheit; Carlos Rodriguez


Juan Delgado has first-level management of complex issues, the relationship between buyer and seller and always pro deal.

Key clients

Univision Communications

Bodega Latina Corporation

Prolec GE/Xignux

ACCION International and Quona Capital Management

Vinci Partners Investments

Canadian National Railway

Partners Group (Guernsey)

Oca Capital Partners

Kala Capital

Actum Capital

Work highlights

  • Represented Univision Communications and Univision Holdings in the acquisition of the content and media business of Televisa.
  • Represented Grupo Comercial Chedraui and Bodega Latina Corporation in their agreement to acquire Smart & Final Holdings from Apollo Global Management.
  • Represented GE-Prolec Transformers in its acquisition of SPX Transformer Solutions from NYSE-listed SPX Corporation.

Uría Menéndez

Uría Menéndez has a long history in Latin America and has extended its commitment through Philippi Prietocarrizosa Ferrero DU & Uría, its associated regional firm with a Chile- Colombia-Peru footprint. It represents a range of Spanish corporates and investors, such as Telefonica and Repsol, along with other multinationals and financial sponsors. Along with having broad geographic coverage, the firm has also made a commitment to the Cuba market through counsel Lourdes Dávalos, who leads the Cuba desk. Eduardo Rodríguez-Rovira has led the Latin America practice for nearly 20 years and is a seasoned professional in M&A in the region. Juan Martín Perrotto has also spent long periods in the region and is noted for cross-border transactions involving European and Asian investors. Pablo González-Espejo has a long history with Brazil, having launched the firm’s Sao Paulo office in 1999 and was resident there until 2003. All named individuals are based in Madrid.

Practice head(s):

Eduardo Rodríguez-Rovira

Key clients



Invivo Grains

Roca Santitario

Cemex España

Hortifrut Inversiones Internacionales

Brookfield Spain Asset Management

Bd-capital Partners

Work highlights

  • Advised Telefonica on a binding offer for the mobile assets of Oi (the Brazilian telecoms operator) jointly with Telecom Italia and América Móvil (Claro) in relation to the judicial reorganisation of Oi in Brazil.
  • Advised Repsol on the acquisition of a 50% stake in a portfolio of six renewable energy projects located in Chile and owned by Grupo Ibereólica, totalling up to 2,600MW.
  • Advised Invivo on the negotiation and execution of a first-of-its-kind agreement for the provision of services related to the development of a sustainable and efficient corn sector in Cuba.

Vinson & Elkins LLP

Vinson & Elkins LLP continues to impress in the energy and infrastructure field, including in investments and acquisitions by private equity funds. The Latin America team has developed its traditional strengths in line with key economic trends, notably in clean energy and digital infrastructure. The relatively recent hires of Eamon Nolan and dual-qualified (Brazil/New York) Gabriel Silva to the New York office have significantly deepened the firm’s Latin America credentials; the former is noted for Mexico power and renewables deals and the latter specialises in Brazil transactions, especially telecoms and digital infrastructure deals. Houston partners Mark Brasher and Alan Alexander are also experienced in Latin America energy deals.

Practice head(s):

Eamon Nolan; Shay Kuperman


Fantastic commercial acumen and ability to drive negotiated outcomes across many commercial fields.

Gabriel Silva is a world class lawyer and fantastic leader.

Key clients

New Fortress Energy

Hygo Energy Transition

Woodside Petroleum

Goldman Sachs

DigitalBridge Group

Scala Data Centers

Highline do Brasil

Matrix Data Centers

Owens Illinois

Work highlights

  • Represented O-I Glass, the global glass bottles and jars producer, on the sale of Cristar TableTop to a subsidiary of Nadir Figueiredo, a Brazil-based glass tableware producer owned by HIG Capital.
  • Advised Hygo Energy Transition on its $5bn merger with New Fortress Energy.
  • Represented DigitalBridge Group on the acquisition of Pacifico Cable, from funds and investment vehicles managed by Linzor Capital Partners and Teras Capital Spain.

Willkie Farr & Gallagher LLP

Willkie Farr & Gallagher LLP is a growing force in Latin America M&A with experience in multiple jurisdictions across the region. The Latin America team is also especially active in venture capital financings and private equity investments; among a number of venture capital deals, the firm advised Insight Partners as co-lead investor in a $500m Series E investment in Latin American e-commerce platform, Nuvemshop. Maria-Leticia Ossa Daza leads the Latin America practice and recently advised Mexico’s América Móvil on its $6.25bn sale of TracFone Wireless to Verizon Communications. Washington DC partner Jorge Kamine has extensive experience in energy and infrastructure M&A in the region.

Practice head(s):

Maria-Leticia Ossa Daza

Key clients

América Móvil

Apex Group

Costa-Brazil (Michele Levy)


Insight Partners

MG Partners Multi-Strategy Fund

Platinum Equity

Union Square Ventures

Work highlights

  • Advised Insight Partners as co-lead investor in a $500m Series E investment in Latin American e-commerce platform, Nuvemshop.
  • Advised América Móvil on its $6.25bn sale of TracFone Wireless to Verizon Communications
  • Advised Greycroft on the $75m equity funding of Addi, a digital commerce start-up based in Bogota and Sao Paulo.

Akin Gump Strauss Hauer & Feld LLP

Akin Gump Strauss Hauer & Feld LLP has a substantial focus on Latin America, primarily from its Houston, New York and Los Angeles offices, with additional public law and policy expertise provided by the Washington DC office. The Latin America group is focused on energy, including oil and gas, along with energy transition and renewables transactions. It is also noted for corporate restructurings in the region. The hire of New York partner Sergio Urias from Covington & Burling LLP in June 2022 brings additional senior-level Latin America private equity and M&A experience. Houston’s Matt Kapinos is a key partner.

Practice head(s):

Zach Wittenberg; Sebastian Rice

Key clients

Ad hoc group of holders of senior notes of Aerovías de México (Aeroméxico)

Ad hoc group of unsecured noteholders of TV Azteca,

PJSC Lukoil

Conflicts committee of the board of directors of Golar LNG Partners

Apache Corporation

Work highlights

  • Advised the ad hoc group of holders of senior notes of Aeroméxico in the chapter 11 cases of Grupo Aeroméxico and its affiliates.
  • Represented the unsecured noteholders of TV Azteca in connection with the company’s potential restructuring.
  • Advised PJSC Lukoil on its $435m acquisition of Fieldwood Energy’s Mexican exploration and production business, including a 50% operated interest in offshore Block 4 in the Gulf of Mexico.

Allen & Overy LLP

Allen & Overy LLP‘s established Sao Paulo and New York offices have a fine record in Latin America M&A, particularly in energy, telecoms and technology deals. In Sao Paulo, Bruno Soares leads the Latin America practice group and has strong connections to local, regional and international businesses; he has advised on a series of headline deals in the telecoms industry. New York’s Paul Burns and the immensely experienced Stephen Besen are active in cross-border deals, including in Latin America. Also noted is trilingual, dual-qualified (New York/Sao Paulo) counsel André de Paiva Teixeira.

Practice head(s):

Bruno Soares

Key clients


American Tower International

Crédit Agricole Corporate and Investment Bank

Work highlights

  • Advised Cielo, an electronic payments business in Brazil and in Latin America, on its contractual framework agreement with Facebook to launch the Facebook Pay platform in Brazil.
  • Advised American Tower Corporation on the investment by Caisse de dépôt et placement du Québec (CDPQ) in ATC Europe, American Tower’s European platform.
  • Advised Crédit Agricole Corporate and Investment Bank on the sale of its Latin America focused private banking operations to Banco Santander International.

Brown Rudnick LLP

Brown Rudnick LLP remains highly focused on Latin America, particularly in the distressed M&A, venture capital and blockchain fields. It is also active in general corporate and regulatory matters for multinationals with a presence in Latin America. It has worked on a series of fund investments and exits in Argentina and Brazil, along with mandates in Chile, Colombia, Mexico and many other jurisdictions. It has also worked on SPAC-related deals and hospitality-related projects. Alejandro Fiuza, who practiced for many years at leading Argentine firm Marval O’Farrell Mairal, leads the Latin America team and has extensive experience in M&A and private equity and is lauded for his venture capital capabilities. Adolfo Garcia provides further senior experience and New York partner Clara Krivoy is noted for blockchain transactions and corporate matters involving Latin American family offices. Partners are located in Boston unless otherwise noted.

Practice head(s):

Alejandro Fiuza


They are all solid professionals.

We have collaborated with Brown Rudnick on several occasions and always in a very satisfactory way. They offer excellent work and focused on the needs of the client. In addition, they offer an updated and in-depth view of legal developments.

The team is always very well prepared and updated with the most relevant topics for companies. They always share news by mail, helping in-house professionals to stay up to date.

Alejandro Fiuza is the best VC lawyer in LatAm. It has helped us solve complex situations in a simple way.

Alejandro Fiuza is one of the most prepared lawyers that I have had the opportunity to work with. The team has a 360-degree vision on all aspects and, for this reason, it is a great trusted advisor.

Alejandro Fiuza is without a doubt an excellent attorney who is always available. Both he and his team are proactive and focus on customer needs.

Key clients

Endeavor Global, Endeavor Catalyst and Endeavor Catalyst I. and Endeavor Catalyst II



Seaboard Corporation

CBS Television

Puerto Rico Oversight Board

Emmis Corporation


Draper Cygnus

Audax Management Company

AG Processing

The Catalyst Capital Group

The Smithsonian Channel, Showtime


Icahn Enterprises

Overseas Private Investment Corporation (OPIC)


Securitas Biosciences

Alaya Capital Partners

Tecnologica de Monterrey

Emphys Acquisition Corp

Work highlights

  • Continued to Advise ARCAP (the Argentine Private Equity, Venture, and Seed Capital Association), following its launch in September 2016.
  • Assisted the Smithsonian Channel in connection with corporate and regulatory requirements arising from its joint venture with DirectTV Latin America in 23 countries in South America, Central America and the Caribbean, particularly Argentina.
  • Advised a group of debtor-in-possession (DIP) lenders of Alpha Latam Management (and its subsidiaries in Mexico and Colombia as debtors) in connection with the sale of substantially all of the assets of some of the debtors in the US, Mexico and Colombia.


CMS has continued to cement its position in Latin America with local teams in Mexico, Colombia, Chile and Peru, and an international group in Brazil. The firm remains noted for its work in energy, including oil and gas, though with an increasing emphasis on renewables and energy transition sectors such as green hydrogen. Mining is another core strength, particularly in its Chile and Peru offices. Increasingly, the digital sector is an additional key area for many of the Latin America offices. The firm also continues to impress in private equity, especially in technology infrastructure segments – fibre optics, data centres and cell towers. Jorge Allende Destuet   and Ramón Valdivieso   are prominent names in M&A and private equity in Chile, Juan Carlos Escudero  is a key figure in Peru, Juan Camilo Rodríguez   is a leader in Colombia, and Ted Rhodes  has many years of experience in Latin America energy M&A, having led the Rio office since 2010.

Practice head(s):

Ted Rhodes

Key clients

Eaton Corporation

CTS Eventim

Weir Group

Agon Capital

Garrett Motion




BP exploration Mexico

Movyon (Autrostade per l’Italia)


Suez Chile

Worcester Energy

Work highlights

  • Advised KKR (in conjunction with New York counsel Simpson Thacher & Bartlett LLP) on the acquisition of a 60% interest in Telefonica Chile’s fiber-optics network.
  • Advised Dreams on the structuring and negotiation with Enjoy, of the terms and conditions under which the two companies may conduct a strategic business combination involving Enjoy’s and Dreams’ gaming businesses and casinos in Argentina, Chile, Uruguay, Panama and Peru.
  • Advised an international payment technology company on the acquisition of a leading payment solution provider in Latin America, including operations in Mexico, Colombia, Brazil, Peru and Chile.

Gibson, Dunn & Crutcher LLP

Gibson, Dunn & Crutcher LLP has a lengthy history in Latin America and it has a renewed and reinforced focus on M&A and private equity in the region. The firm now counts a range of multinationals, multi-latinas and international financial sponsors among its Latin America client roster. The arrival of dealmaker Marwan Azzi from White & Case LLP in August 2021 is a major boost to its Latin America M&A and private equity credentials; since joining the firm he advised long-term client I-Squared Capital (through ISQ Global Infrastructure Fund III and ISQ Growth Markets Infrastructure Fund), on its agreement to acquire Mexico-headquartered digital-infrastructure service provider, KIO Networks. In addition, Tomer Pinkusiewicz has an extensive record in energy and infrastructure M&A. The team was further strengthened with the hire of former Deloitte Legal Chile partner, corporate and capital markets specialist Ignacio Concha, as of counsel in November 2021. All named figures are based in New York.

Work highlights

  • Advised I-Squared Capital (through ISQ Global Infrastructure Fund III and ISQ Growth Markets Infrastructure Fund), on its agreement to acquire Mexican digital-infrastructure service provider KIO Networks.
  • Advised MIP V International (a fund of Macquarie Infrastructure Partners V), on the acquisition from Odinsa of a 50% equity interest in its road assets in Colombia, as well as the creation of a transportation infrastructure partnership to manage existing and develop new road projects in Colombia, Peru and Chile.
  • Advised Coeur Mining on its definitive agreement to sell the La Preciosa silver project in Mexico to Avino Silver & Gold Mines.

Gunderson Dettmer LLP

Gunderson Dettmer LLP, a leader in start-ups, growth company and venture capital transactions, has successfully targeted the Latin America region, with strong activity levels in Brazil, Mexico and Chile. Its New York team has built an impressive record in representing venture capital funds and emerging companies in Brazil deals, with Silicon Valley and San Francisco groups targeting the Mexico market. Much of the firm’s practice in Latin America centres on digital, e-commerce and the broader technology sector. Brian Hutchings  is a key figure in New York for Brazil deals, while Daniel Green  is building his reputation in Mexico and Chile transactions. Since research concluded, the firm has announced the opening of a Sao Paulo office – effective July 2022 – which is to become the hub of its engagement in the Latin American region.

McDermott Will & Emery LLP

McDermott Will & Emery LLP‘s Latin America practice is primarily located in Miami and Dallas. Noted for its expertise in real estate investments and transactions, the team is also active in manufacturing, technology and retail, among other sectors. It represents a number of prominent corporates, along with a wide-range of Latin American high-net-worth individuals and family offices (especially those based in Mexico and Brazil) on cross-border investments and divestments in the US. The team has specific capabilities in cross-border tax structuring expertise. Dallas partner Manuel Rajunov is key for tax-driven transactional engagements and is also admitted in Mexico. Miami’s Michael Silva is an experienced figure in tax and funds formation engagements

Practice head(s):

Manuel Rajunov; Michael Silva

Key clients

Viking Global Investments

Baker Hughes Holdings

Work highlights

  • Advised Viking Global Investors on US-Mexico cross-border tax structuring for its $250m investment in Mexican digital payments platform, Clip.
  • Advised Baker Hughes on its agreement to sell the assets of its Surface Pressure Control Flow business unit (part of its Oilfield Equipment segment) to Houston-based private equity firm, Pelican Energy Partners.

Morrison Foerster

Morrison Foerster has made a significant impact in Latin America since launching its Miami office in 2019. The core team led by the highly rated Randy Bullard, is known for representing SoftBank Latin America Fund in a range of headline acquisitions and investments across the region. Beyond this anchor client, the group has also advised a number of other large multinationals and international investors; a case in point was its advice to Uber Technologies on the acquisition of a majority stake in Cornershop, the Chilean grocery delivery company. Indeed, a healthy proportion of the Latin America corporate practice centres on technology and fintech matters. Dual-qualified associate Ludovica Gardani (Florida/New York) is also noted. All named individuals are based in Miami. However, Alexandra Aguirre left the firm in June 2022, followed by Juan Delgado and associate Axel Miranda the following month.

Practice head(s):

Randy Bullard; Ruti Smithline


Of the firms I have worked with in the United States, the Morrison & Foerester M&A team has given me the best experience of all. Under the leadership of Randy Bullard, the M&A team is a diverse group, made up of lawyers from Lat Am, Europe, USA, among others. This helps them to clearly understand the needs of companies that are not from the United States.

Randy Bullard and Ludovica Gardani gave us 100% personalised attention. Not only do they master all M&A topics, but they understand the business needs of the acquired company. Knowing when to stand strong in a negotiation and what points to let go in favor of the certainty of closing the transaction.

Great hardworking, high-quality team, with lots of technical knowledge, very responsive and with a commercial, pragmatic approach. We really liked working with them, although MoFo’s services were a bit expensive.

Randy Bullard was a great leader to our M&A advisors. He has an amazing amount of knowledge and applies a good commercial approach to his cases. He doesn’t shy away from complicated cases that demand quick-thinking and creative structures.

The team is incredibly versatile covering a broad range of practice areas. Their advise is consistently practical with a keen business perspective and they are typically ahead of the curve on the technology front, able to point out issues around the corner due to recent developments in the tech world.

Randy Bullard and Juan Delgado are extremely knowledgeable and responsive. I don’t think you could find a more qualified yet down to earth duo to advise you on general corporate, M&A, finance and other cross border and domestic matters.

They have a broad practice that cuts across cross border, in-bound and outbound venture capital, private equity and M&A—for investors, sponsors and company-side representation. Their tax team and real estate teams are also top-notch (which is crucial for our type of deals).

First of all, Randy Bullard stands out, a tremendous lawyer, with a lot of experience in the region and great knowledge of transactional aspects.

Key clients


PetLove Cayman


HJM International


Peninsula Management South Florida

Genius Sports Group

Banco Inter

Vertical Bridge Holdings


Volpe Capital

WE Family Offices


Grupo Terra/Fundación Nasser para el Desarrollo Educativo de Centroamerica

Uber Technologies

Work highlights

  • Advised Uber Technologies on its acquisition of a majority stake in Chilean grocery delivery company Cornershop.
  • Advised SoftBank Latin America Fund on a joint venture with WeWork, which provides SoftBank Latin America Fund with the exclusive right to operate the WeWork brand in Argentina, Brazil, Chile, Colombia, and Mexico.
  • Advised PetLove, the largest digital ecosystem for pet owners in Brazil, in connection with its combination with Health for Pet.

Nelson Mullins Riley & Scarborough LLP

Nelson Mullins Riley & Scarborough LLP has achieved further growth in Latin American engagements, particularly in Brazil. The expanding team features a number of Brazilian natives, including co-head of the Latin America group Jackson Hwu who is an experienced figure in the country’s tech and venture capital sector. His team, which includes Leandro Molina and Caio Prado (in New York and Miami, respectively), represents a range of international and Latin American venture capital funds and a multitude of start-ups and emerging companies. The group has also landed a number of outbound deals for Brazilian clients looking to acquire assets in the US. The wider Latin America group is also active in venture capital and M&A transactions across Latin America, notably Central America and the Caribbean. John Haley is co-head of the Latin America team and has extensive experience in corporate transactions in the region, especially in the energy and infrastructure sectors.

Practice head(s):

John Haley; Jackson Hwu


In my case, they have people specialised in start-ups, which by nature have very specific needs and a quicker pace than a big corporation. Nelson Mullins was able to handle tasks regarding VC investments quickly, precisely and affordably, in a sense building a relationship for the future.

The team that I worked with, mainly Leandro Molina, was always available, offering solutions, foreseeing problems and handling them in advance. Also, they are aware of the reality of start-ups in terms of what is important right now and what will be important in future investment rounds (for example). Also, the fees were always discussed in advance and honoured.

Key clients




Boulevard Turistico del Atlantico

Autopistas del Nordeste

CyberLabs AI Holdings

AdMobilize and Matrix Labs

Mandae Technologies

Social Miner

W Dental

Dynamo VC (Santosh Sankar, lead investor) and Zenda (Esteban Reyes) as co-lead investor

Work highlights

  • Advised Autopistas del Nordeste, Boulevard Turistico del Atlantico, and their respective sponsors (Grupo Odinsa and Consorcio Remix) in connection with the sale of the Autopistas del Nordeste and Boulevard Turistico del Atlantico toll road projects and related concessions back to the Government of the Dominican Republic.
  • Acted as co-counsel for Jaguar Fund No. I in connection with the acquisition of Telefonica Moviles El Salvador.
  • Represented Qualicorp, a Brazilian healthcare services provider listed in the Brazilian stock exchange, in an M&A and VC deal in the purchase of stake of Escale Health in the US.

Norton Rose Fulbright

Norton Rose Fulbright is building its name in Latin America M&A, especially in energy, infrastructure and technology deals. Having a sizeable presence in Sao Paulo and Mexico City brings it additional credibility and has led to engagements on a series of headline and high-value transactions. Sao Paulo partner Silvia Fazio is an experienced figure in Brazil transactions, including energy and infrastructure deals. Raquel Bierzwinsky divides her time between New York and Mexico City and has an increasingly prominent corporate and transactional aspect in addition to her well-known finance capabilities; the M&A and capital markets credentials of the latter office has been further strengthened with the April-2022 hire of  Andrés Nieto from Creel Abogados, SC.

Practice head(s):

Silvia Fazio; Hernan Gonzalez Strada


Partners’ availability and commitment – objective, high quality and straight-to-the point advice. Team spirit. In a high profile M&A transaction, the NRF team provided extremely objective and straight to the point advice, which was decisive for our common client to be successful in the M&A transaction, and worked together with Brazilian counsel (our firm) as a one-team (no attempt to overtake/control the deal).

The NRF team is differentiated. All lawyers have a multi-jurisdictional view of operations, are extremely efficient, responding to requests quickly and in detail. We wouldn’t be able to handle all of the company’s work demands without the technical assistance of the Norton Rose team.

Silvia Fazio – always available, regardless of the time difference. They provided very objective and top-notch advice, worked in close cooperation with our firm. They worked in a very efficient way and brought other team members (from the insurance area) to the extent necessary to secure a smooth deal. Also, they were very flexible with fees, which was highly appreciated by our common client.

Silvia Fazio is our partner. An extremely helpful, technical, organized and business-oriented professional.

Key clients

Equatorial Energia

LATAM Airlines



Sumitomo Chemical


Clear Channel Brasil

Banco do Brasil

Itau BBA

Osisko Gold Royalties

General Motors



American International Group


Work highlights

  • Advised Equatorial Energia on a successful bid to purchase the entire issued share capital of Brazil Echoenergia Participações from Ipiranga Fundo de Investimento em Participações Multiestratégia, a fund owned by Actis.
  • Advised Sumitomo Chemical Company on its agreement to purchase Nufarm’s crop protection business in Brazil, Argentina, Colombia and Chile.

Ropes & Gray LLP

Ropes & Gray LLP is known for private equity funds formation and investments in Latin America. The firm’s outstanding private equity client base brings it a steady pipeline of Latin America engagements, including in Brazil and Mexico. Chicago partner Matthew Posthuma has extensive experience in fund formation and investments in Latin America, particularly in the real estate sector.