Corporate and M&A in Mexico

Creel, García-Cuéllar, Aiza y Enríquez, S.C.

Corporate powerhouse Creel, García-Cuéllar, Aiza y Enríquez, S.C. remains firmly at the top of the M&A market, universally recognized for its ‘knowledge of the industry’. Domestic and international blue-chip corporates and private equity funds regularly rely on the department for their most business-critical matters, including mergers, joint ventures, restructurings, privatisations, and spin-offs. 'Market-leading figure' Jean Michel Enríquez (M&A, private equity and capital markets) is practice head; while the core group of partners includes Carlos del Río (M&A, private equity and real estate), Eduardo González (M&A and other complex transactions), Jorge Montaño (M&A, PE, VC, corporate and commercial advisory), Humberto Botti (M&A, private equity and capital markets), and Iker Arriola (M&A, corporate law). All are in great demand as Mexican counsel on the most prestigious local and international  deals; the team recently advised Santander España on its $1bn offer to acquire all Banco Santander México's "B" shares (issued and outstanding); as well as their registration with the National Banking and Securities Commission; and a pending issuance by Santander España on the Mexican Stock Exchange.

Practice head(s):

Jean Michel Enríquez


Committed; responsible, support from different areas, good attitude despite the pressure of time. Especially Iker Arriola, who led on the project with great disposition, knowledge, and structure.’

Knowledge of the industry and the law, attention to detail, partner availability, efficient document production for the operation in question, talented professionals, good judgment and availability. They are very organized and structured people.’

Key clients


Cerberus Capital Management

General Atlantic

Glisco Partners

Grupo Axo

Live Nation Entertainment Inc.

L Catterton

RLH Properties


Southern Cross Group

Work highlights

  • Counsel to Santander España on its offer to acquire all Banco Santander México’s ‘B’shares -issued and outstanding- as well as the registration of the shares issued and pending issuance by Santander España in Mexico, before the National Banking and Securities Commission (CNBV) and the Mexican Stock Exchange (BMV); value, $1bn.
  • Advised Vanta Education on the sale of Universidad Latinoamerica, Vanta Education Mexico and Vanta Education Mexico Sub and associated anti-trust clearance.
  • Advised BlackRock on the sale of its minority stake in Concesionaria de Autopistas de Michoacán; value, MXN$4.6bn.
  • Counsel to Capital Spring regarding its $400m acquisition of Sizzling Platter (and Mexican subsidiaries).
  • Counsel to Walburg Pincus in connection with a due diligence and revision of transaction documents concerning its $200m acquisition of Indecom’s Mexican subsidiary C Cube Technologies.

Galicia Abogados S.C.

Galicia Abogados S.C. fields a stellar corporate and M&A team, regarded by some clients as ‘something unique in Mexico, absolutely western standard as far as availability, smart solutions, business oriented and precise standard of goals achieving’. The firm's popularity is demonstrated by the calibre of the deals it is regularly instructed on, many of which are the largest the market has to offer; major highlights in 2019 include advising in an internal corporate restructure and transfer of its relevant Mexican subsidiaries for Johnson Controls regarding the USD$ 13.2 billion sale of its Power Solutions subsidiary to Brookfield Business Partners. Ignacio Pesqueira (M&A, corporate advisory) and José Visoso (M&A and finance), co-lead the ten partner, 40-strong team, which also includes very highly-regarded founding partner Manuel Galicia (M&A, private equity and finance); Christian Lippert (M&A, corporate and competition / antitrust); Arturo Perdomo (M&A, banking and finance and finance regulatory); Humberto Pérez Rocha (M&A, banking and finance, project finance and insurance); Héctor Kuri (M&A, finance and infrastructure), Eugenio Sepúlveda (M&A and financial restructuring); Ricardo García (M&A, corporate finance, private equity and banking); and Ramiro Sandoval (M&A and private equity with an emphasis on real estate matters).

Practice head(s):

Manuel Galicia


Galicia is something unique in Mexico, absolutely western standard as far as avaliability, smart solutions, business oriented and precise standard of goals achieving, above-expectations results. Manuel Galicia: very rare business sentiment and capability to find solution to solve commercial problems and cover apparent distances with smart idea boosting the deals. Carlos Barnard, very precise and dedicated , always available, precious in stressed situations Marianela Romero, precise, available, great capability of hard worker.

Very pragmatic and commercially oriented law firm. Good availability and responsiveness. Down-to-earth attitude, very amicable relationship albeit still professional.’

Quality and speed service. They provide advice and solutions in complex operations, with in-depth analysis of the matter. Purposeful and innovative. They do a great job, professionally, cleanly and quickly. All the office staff leaves the ego aside, with the closing of transactions being essential.They do a complete job, helping the customer’s internal teams to make transactions flow better, not just do the basics. I note partner Ramiro Sandoval and associate Roxana Schäfer.’

Lawyers have extensive knowledge of M&A, training abroad, knowledge of the companies they advise. Wide availability and availability. It has customer service and exceptional ability, extensive knowledge and practicality. I highly recommend Ignacio Pesqueira.

Key clients

Sinia Capital



Eastman Kodak Company

Ariston Thermo

Johnson Controls

Softbank Group International


Spencer Stuart

Work highlights

  • Counsel to Sinia Capital on the $45m acquisition of a 30MW wind farm project currently under development in Baja California, Mexico from Cemex and Pattern.
  • Counsels to Ericsson on the acquisition of the antenna and filter technologies business of German company, Kathrein.
  • Advised ContourGlobal on the acquisition of two energy co-generation plants located in Altamira, Tamaulipas and Cosoleacaque, Veracruz, from Alpek; aggregate value, $801m.
  • Advised Ariston  Thermo, on its acquisition of Fluida, Calentadores de América and  Water Heating Technologies from Grupo Industrial Saltillo.
  • Advised Johnson Controls on the Mexican aspectos of its internal corporate restructuring and the $13.2bn sale of its power solutions business to Brookfield Business Partners.

Mijares, Angoitia, Cortés y Fuentes S.C.

Mexican member of the regional Affinitas alliance, Mijares, Angoitia, Cortés y Fuentes S.C.'s ‘unique’ team regularly secures rave reviews for its ‘great disposition, knowledge and professionalism’, and its cutting-edge corporate work. The department; which represents an impressive mix of domestic and international clients, including some of the most active private equity funds in Mexico, boasts an array of talent, including name partners Pablo Mijares (M&A, private equity and bidding processes) and Francisco Fuentes (M&A, competition and telecoms). Other key individuals include Ricardo Maldonado (M&A, capital markets, financing and corporate compliance); Patricio Trad (M&A, corporate and structured finance); Eugenio Macouzet (M&A, joint ventures and strategic partnerships); Ignacio Armida (general corporate advisory, M&A and financings); Lorenza Langarica (M&A, structured finance and real estate); Manuel Echave (corporate and structured finance); Francisco Ibañez (banking and finance, capital markets, M&A and general corporate advisory), and Martín Sánchez Bretón (capital markets, M&A, corporate finance). 2019-mandates saw the well-rounded team advise portfolio company Current Lighting on its acquisition of Commercial Materials and Components Eléctricos del Norte, both Mexican subsidiaries of GE, for $300m, among numerous other matters. Patrick Meshoulam, who was raised to the partnership in April 2020; and key associate Francisco Glennie are also both noted.


Great disposition, knowledge and professionalism of all the lawyers involved in the processes; they also always show great responsiveness. The main capacity that differentiates them is the ability they have to handle adverse situations and negotiate for the benefit of all parties.

They have a great team of attorneys with enough experiecne and continual training of their subordiantes to make them unique. Rcardo Maldonado is very much better than his comptitors, not jut for his experience and professionalism but also for his human qualities.

Impressive dedication to clients issues. Legal advice way better than its peers. Again, full dedication to the transaction. Impressive response in terms of quality and speed. Time dedicated to client so both can understand issues at play. What makes this firm unique is the high professionalism of the lawyers, their experience in private matters and the speed and service they provide. The professional preparation and attitude of lawyers is what sets them apart from other firms. I highlight: Ricardo Maldonado, Fernando Guerrero and José Miguel Colón.

Key clients



Grupo Televisa


Advance Real Estate


Riverstone Holdings

Macquarie Infrastructure and Real Assets

Alta Growth Capital

Grupo Landsteiner Scientific


Operadora Audax

American Industrial Partners

Laboratorios Pisa

Aleatica (formerly OHL Mexico)

Work highlights

  • Represented Mexican Stock Exchange-listed restaurant business CMR on its acquisition of Sushi Itto.
  • Represented the selling shareholders in the sale of telecom company Auronix, to Polo Capital.
  • Advised Televisa on its $270m sale of the group’s unconsolidated 40% equity participation in Ocesa Entretenimiento.
  • Represented Alpek on the sale of two cogeneration power plants located in Cosoleacaque, Veracruz.
  • Represented Asian Inspection (now known as Qima), on the acquisition of the Mexican entity of WQS Group, in a transaction involving Mexico, Brazil and the US.

Nader, Hayaux y Goebel, SC

Nader, Hayaux y Goebel, SC is a safe bet when it comes to complex corporate matters, including major M&As, joint ventures, spin-offs and private equity buyouts. Informed by the firm's banking and finance and capital markets' expertise, the 26-strong team led by the ‘exceptionalMichell Nader and is often praised for its ‘high-level personal treatment'. It includes fellow founding partners Hans Goebel (M&A, private equity), and Yves Hayaux-Du-Tilly (M&A, complex corporate law, insurance), as well as other key partners Julián Garza (specialist corporate advisory, M&A, regulatory matters), Hector Arangua (venture capital, private equity and M&A), Luciano Pérez Gómez (M&A, corporate), and young partner Diego Sanchez Villarreal who enjoys a growing profile. Recent headline work saw Nader and Garza lead advice to Grupo Murano on its $1bn joint venture with Jones Lang LaSalle regarding the development and management of real estate properties located in Mexico; and Arangua lead advice to Blackrock on the divestment of its holdings in Sierra Oil & Gas.

Practice head(s):

Michell Nader S. 


They’re prudent, not arrogant -which is a plus.

Mr. Michell Nader is an exceptional strategist.’

High level personal treatment -the boutique office type is a very important value. They have patience to explain the issues and give good business advice. It is one of the best in M&A, especially with the direct treatment of Michell Nader.

Key clients


Colony Capital

Telefonica Movistar




Grupo Salinas / Azteca





LGT Lightstone

Administradora CKDelta

Work highlights

  • Advised BlackRock on the multi-hundred-million dollar sale of its holdings in Mexico’s first privately owned energy company Sierra Oil & Gas.
  • Advised LGT Impact on an equity investment in Salauno Salud via a third round of investment in Salauno (by LGT, LCA Capital and Endeavor Catalyst), and the acquisition of a small percentage of shares directly from the company’s founders.
  • Advised ALS Global o the $60m acquisition of Laboratorios de Control ARJ,the largest private pharmaceutical testing laboratory in Latin America.
  • Advised IT service-provider Comparex on SoftwareONE’s direct purhase of all the company’s stock.
  • Advised Grupo Murano on a proposed joint venture with Jones Lang LaSalle for the development and management of real estate properties located in Mexico City and Cancun; value, $1bn.

Ritch, Mueller y Nicolau, S.C.

Ritch, Mueller y Nicolau, S.C. houses a top-notch transactional practice with all requisite support practices -such as antitrust, regulatory and specialised due diligence- and which is frequently involved in the country's largest corporate deals and joint venture transactions. Carlos Obregón Rojo (M&A and capital markets, particularly in relation to the funds sector), and Luis Nicolau (M&A, banking, capital markets and competition - and who also has a strong niche advising real estate investment funds), co-head the department.  Other key, high profile practitioners include head of real estate Rodrigo Conesa Labastida (banking and finance, M&A), Ricardo Calderón Mendoza (domestic and cross border M&A and financing transactions), Jean Paul Farah Chajín (banking, CM, M&A, projects and real estate), and Eduardo Triulzi Garciadiego (banking, finance, M&A). Thomas Heather's broad practice takes in arbitration, bankruptcy, anti-corruption and investigations, and M&A. Clients appreciate the teams ‘impressive business understanding', as displayed on mandates including Conesa's advice to Walton Street Capital on its $173m acquisition of the JW Marriot Mexico City; and Nicolau's representation of Fagron on its MXN$352m purchase of the outstanding shares in Central de Drogas.


Understanding of the business, their advice considers the business as a whole and how it may affect it in the future.

Dedication and total control by the partner responsible for the matter; specifically in this case, Luis Nicolau.

Key clients

Linzor Capital Partners

Nexxus Capital

Brookfield Business Partners

Northgate Capital


Laboratorios Sanfer

Auto Financiamiento

Walton Street Capital

Jacobs Engineering


Work highlights

  • Represented Laboratorios Sanfer (Invekra) and its shareholders (including General Atlantic), in the context of a primary and secondary sale of shares, subscribed and paid for by CDPQ, for an aggregate amount of USD$500 million – some  24% of the capital stock of the company.
  • Represented Engenium Capital in the purchase of a controlling position in the capital stock of Tip de México. and its subsidiaries; with an option to acquire the remaining participation.
  • Advised Grupo Modelo on the $142.3m sale of glass production facility Nueva Fábrica Nacional de Vidrio, to Owens-Illinois.
  • Advised the shareholders of language-teaching institution Harmon Hall on its MXN$540m sale to Talisis, a strategic investor in the educational sector.
  • Advised Jacobs Engineering de México (and its local susbisdiaries) on the (global) $3.2bn acquisition of the company bt  Worley Parsons South America and Worley SPV.

White & Case S.C.

White & Case S.C.‘s highly reputed, 19-strong practice is often the first choice for both major domestic and international corporations that value their ‘perfect skills, very good negotiating capacity and excellent relationship with regulators’. The team, made up of an ‘excellent’ group of partners, is co-led by Francisco García-Naranjo (high-end corporate advisory and transactional mandates), and Álvaro Garza-Galván (corporate / M&A). Additional key members include Henri Capin Gally, who, prior to his return to the firm in 2105, was head of Time Warner’s Latin America M&A division; the multi-faceted Vicente Corta (complex and cross-border M&A), and younger partners Mauricio Valdespino (M&A, private equity and corporate transactions); and Sergio Márquez (M&A, Capital markets, banking). Recent matters saw Corta co-lead with New York-based colleagues on Caisse de Dépôt et Placement du Québec (CDPQ)’s $500m investment in Sanfer; and Capin advise OcenaPact on structuring a joint venture with Mexmar to offer integrated offshore oilfield emergency response solutions. Since publication, Garcia-Naranjo has moved to Mayer Brown Mexico, S.C., effective as of August 2021.


For us this is a fairly strong team compared to teams from other law firms, firstly because of the preparation and training they have and secondly because they make objective analysis of the existing regulations giving assurance about the concepts they grant as well as recommendations.

They are close and always available. They have experience in the matters on which they’re consulted and they know the casuistry. Excellent integration between local teams and external offices. Vincente Corta  and Alvaro Garza.

Considerable knowledge, precision and internal organization is demonstrated due to the volume of documents and operations that are carried out simultaneously. Additionally, disposition and communication are essential. They have perfect skills to achieve the required times for closing transactions. Very good negotiating capacity with the counterparty and excellent relationship with regulators. Among others, Vicente Corta, Manuel Groenewold, Álvaro Garza, Teresa Fernández, Romeo Vizzani, Rebeca García, Federico à lvarez and Andrés Calderón stand out.’

Key clients

Newmont Mining


Investindustrial VI




AMP Capital



Accendo Banco

Work highlights

  • Advised Newmont Mining on the its $10bn acquisition of Canada-based Goldcorp, in a multi-jurisdictional deal involving Mexico, Canada and the US.
  • Advised Investindustrial VI on the acquisition of Jupiter Holding I from investment funds affiliated with Apollo Global Management, Ares Management and Clearlake Capital Group.
  • Advised Pemex on the structuring of a $3bn joint venture with a private consortium led by Mitsui, in order to own, construct and operate a delayed coker unit located within Pemex’s Miguel Hidalgo refinery.
  • Advised Citi in its role as financial adviser to Banco Santander on Santander’s proposed offer to acquire the minority interests in Santander Mexico for €2.56bn.

Baker McKenzie Abogados, S.C.

The corporate practice at Baker McKenzie Abogados, S.C. has ‘not only the technical profile but also a robust business understanding'; it also benefits from unequalled national coverage, with offices in Mexico City, Juarez, Guadalajara, Monterrey and Tijuana. Moreover, clients report ‘impeccable’ service. Thirty-year M&A veteran Jorge Ruíz heads-up the practice group, which also includes ‘highly experienced and focused lawyer’ Gaspar Gutierrez-Centeno (M&A, general corporate law, foreign investment); Reynaldo Vizcarra-Mendez (M&A, project implementation and corporate compliance); Erik Gutierrez-Zuniga (M&A, corporate and securities); and in Monterrey, Jose Maria Gonzalez-Elizondo (general corporate advisory, M&A, joint ventures and restructuring). Other notable practice group members include Carlo Pérez-Arizti (general corporate advisory, M&A, restructurings, PE and VC); the ‘exceptional’ Lorenzo Ruiz de Velasco (capital markets, M&A and financings); and J Antonio Ambrosi-Herrera. Recent highlight work saw the firm advise LVMH Moet Hennessy Louis Vuitton on the Mexican aspects of its $3.2bn global acquisition of Belmond Hotels; as well as acting for Brookfield on its $13.2bn purchase of Johnson Controls' subsidiary, Power Solutions. Former partner Carlos Valencia retired in January 2020.

Practice head(s):

Jorge Ruiz


It is a very professional and focused team. Gaspar Gutiérrez is a highly experienced and focused lawyer who ensures that the entire team, including shareholders from other countries, as well as counterpart advisers, walks favourably at the right times. The execution and follow-up of Carlo Pérez-Arizti is impeccable. On the other hand, the entire BM M&A team is multicultural, which went a long way in bringing our British shareholders up to date.

The handling of the M&A negotiation where I received BM services was excellent. It is a total commitment so that the operation turns out as favorably as possible. The negotiations were very difficult but they always found the right middle ground. As if that were not enough, we closed this negotiation in a time of full pandemic but they were able to carry it out very well.

‘The BakerMcKenzie team has demonstrated in the executions we carry out together that they have not only the technical profile of outstanding attorneys, but a robust business understanding that makes their consulting exceptional.

It highlights the level of involvement and its customer orientation. They also know how to adapt to the needs of a project and always seek win-win situations. Gaspar Gutiérrez, Carlo Pérez-Arizti and Lorenzo Ruiz de Velasco seem exceptional to me.’

Key clients



LVMH Moet Hennessy Louis Vuitton


Platinum Equity


DEA Deutsche Erdoel



Magna Closures


FC Juárez


US Venture

Work highlights

  • Advised Brookfield on the $13.2bn purchase of Johnson Controls International’s Power Solutions division.
  • Assisted Platinum equity on the Mexican aspects of its $2.5bn multi-jurisdictional purchase of Multicolor Corporation.
  • Advised LVMH Moet Hennessy Louis Vuitton with the Mexican aspects of its global $3.2bn acquisition of Belmond Hotels.
  • Advised Autozone on the corporate reorganisation, migration of legal entities’ capital contributions and several mergers; aggregate value $17.8bn.
  • Advised DEA Deutsche Erdoel on its $1bn+ acquisition of Sierra Oil & Gas Holdings and its affiliated entities.

Basham, Ringe y Correa, S.C.

Basham, Ringe y Correa, S.C. has a well-established footprint in the corporate and M&A sector, its 50-strong team operating from offices in Monterrey, Queretaro and -since 2018- León, as well as Mexico City, and offering a mix of day-to-day and transactional advice for both domestic and international clients. In addition to usual attendant practices such as labour, tax or competition, the firm recently incorporated a crisis and risk management practice, which also assists clients fulfil their regulatory obligations before the Mexican Authorities; it is proving particularly useful in relation to its cross-border transactional activity. The practice fields an accomplished core group of corporate and transactional partners including experienced market player, practice head Daniel Del Rio (particularly cross-border investment both inbound and outbound); Juan Jose Lopez de Silanes (partnership agreements, M&A, reorganizations, investment, public bids and corporate governance); energy specialist Juan Carlos Serra (joint ventures, M&A reorganisations and bidding processes); competition and antitrust head Amilcar Peredo; Miguel Angel Peralta (M&A, finance, capital markets and real estate); Amilcar Garcia (joint ventures, M&A, reorganisations and investment, particularly in relation to the real estate sector); Jesus Colunga (corporate and M&A); along with Luis Lujan and Carlos Velazquez de Leon in Querétaro and Monterrey, respectively. Senior associate Moisés Gómez Flores, who has run the León office since its opening, is also noted; he has a broad corporate practice including compliance and AML.

Practice head(s):

Daniel del Rio

Key clients

British Columbia Investment Management Corporation

Huhtamaki Mexicana

Lennox International Industries

Nobel Biocare México

Raw Entertainment México


WestRock MWV

Van Hessen

Bird & Bird

Pepper Hamilton (New York)

Jones Walker



Star Producer Group

Chori Japan


Blue Equity

Ductor Americas







Work highlights

  • Advised SAAM on its $200m acquisition of Boskalis’ 50% particpation in the pairs joint ventures so as to terminate those in Mexico, Brazil, Canada and El Salvador.
  • Advisng Gerdau GTL Spain on  the restructure of its Mexican joint venture companies and accompanying capitalisaiton of $120m.
  • Advised Grupo Pozo Blanco and its Panamanian subsidiary Grupo Prestige Worldwide on an SPA with Arancia for the sale and purchase of shares of PFS de Mexico.
  • Advised Patinum Equity on its $1.9bn acquisition of aerospace supply-chain management services company Wesco Aircraft Holdings.

González Calvillo, SC

A solid team of ‘outstanding lawyers’ with strong expertise in corporate and private equity acquisitions, restructurings, and compliance work, make up the practice group at González Calvillo, SC. Increasingly established as a firm of choice for both domestic and international clients, particularly from the financial, energy and private equity sectors, the practice has capacity to act on a considerable volume of deals and is regularly referred work by foreign firms. Key partners include José Victor Torres, Jaime Cortés, José Ignacio Rivero, Juan Manuel Sancho Rodrigo, Gonzalo A Vargas, Jorge Mondragón, Alfredo Chávez Goyeneche and Enrique A Ávila; between them they cover the gamut of corporate matters, including banking, capital markets, corporate advisory and finance, structured finance, M&A, private equity and regulatory matters, particularly in relation to projects, real estate and infrastructure, and also in the finance sector. Associates Priscila Adalid-Melgar and Victor Nakakawa Trejo are also both noted.


Gonzalez Calvillo is a firm of committed, up-to-date professionals, with a sense of great responsibility towards their clients. We have worked directly with Victor Nakakawa and some of the partners and we can report the following about him and his colleagues: professionalism, excellent attention, results, commitment.’

The lawyers are very well prepared to deal with all client law requirements they are very experienced in these matters and always take care to give the best advice to the client. Our experience with associate Priscila Adalid has been impeccable; she has a robust legal knowledge as well a great business-oriented mindset that prevailed in all the negotiations she was involved,‘ helping us to achieve the best conditions for our organization.

It is a pleasure to work with this team, because it not only gives us peace of mind to have them by our side, but because they always teach us and have very impressive reasoning and problem-solving capacity. Closeness of lawyers (with as friends), flexibility and adaptability (they know how to respond to different problems) and availability of work (we have had full-day work sessions and everyone has the best disposition).’

Gonzalez Calvillo’s team of lawyers have extensive legal and technical knowledge in all areas involved in any business: civil, commercial, corporate, tax, mergers and acquisitions, etc. In my opinion, Gonzalez Calvillo generates a substantial difference in legal advice for his clients, not only in the broad technical aspect of legal issues, but also in the lawyers he has and the service they provide. For an entrepreneur, having the support of an office that solves you, and what it cannot solve, supports you in getting who solves it, with an attitude of service and efficiency is essential.’

Outstanding lawyers: Jorge Cervantes Trejo, Enrique Avila, Victor Nakakawa, Daniel Guaida and Diego Hernandez Schmidt.

Key clients

IFM Investors

Posseidon Asset Management

Crestview Partners

Grupo Crédito Maestro

Sojitz Corporation

Grupo Resuelve tu Deuda

British Telecom (BT) Group


Motus Integrated Technologies





Work highlights

  • Represented  private equity firm Crestview Partners on the acquisition by various of its funds, of Concours Mold, a manufacturer of tools and molds linked to the automotive sector and which has operations in Canada, the US and Mexico.
  • Acted as counsel to Japan’s Sojitz regarding its acquisition of Auto Financiamiento Automotriz (AFASA) and several assets thereof.
  • Acted as special Mexican counsel to Motus on its acquisition of Jason Industries’ fibre-based product solutions for the automotive and packaging industries’ business line, known as Janesville Acoustics, with operations in  Mexico and the United States.
  • Advised GCM on the renegotiation and extension (until 2026) of the term of the co-investment  between its controlling shareholders and Crédito Real.

Greenberg Traurig, S.C.

Managing partner of the Mexico City office and co-chair of the firm's Latin America practice, well-known market figure José Raz Guzmán (M&A, capital markets, banking, and real estate transactions) heads the 27-strong corporate and M&A department at the full-service, Miami-headquartered, Greenberg Traurig, S.C. The group has considerable experience and high-level expertise advising a broad range of national and international corporates on transactional matters, particularly in the infrastructure, natural resources, manufacturing and financial services sectors; a recent case in point being its representation of Colombia's Keralty in a $120m joint venture with AXA Seguros. Key members of the practice include Miguel Yturbe Redo (M&A, general corporate advisory), Arturo Pérez Estrada (corporate, financial regulation, privacy and corporate finance), José Antonio Butrón (M&A, banking, structured and project finance, capital markets and securitization), and Carlos Garduño (M&A, securities, corporate and project finance). Elected shareholder (partner) in January 2020, Luis Cortés (corporate, commercial and finance law), is also noted. Additional senior partners who also undertake corporate matters include Juan Manuel González Bernal, Hugo López-Coll, Victor Manuel Frías and Antonio Robles Hüe.

Practice head(s):

José Raz Guzmán


Multipractice, training and professionalism. Involvement. Resolution.

Key clients

Skechers USA

Grupo Renovables Agrícolas




Phoenix Tower International

Ignia Partners

EMX Capital


Dalus Capital

Work highlights

  • Represented Keralty in a $120m joint venture with AXA Seguros.
  • Advised Grupo Renovables Agrícolas (a subsidiary of the US company Renewables Resources Group),  on the acquisition of 1,800 hectares of farmland property  for an avocado production project in the state of Jalisco; the advice included environmental, regulatory, real estate and corporate matters.
  • Represented Autopistas de Vanguardia, which holds the concession to develop operate and maintain the Naucalpan-Toluca toll road, on the negotiation of a $96m mezzanine credit agreement and a sub-mezzanine credit agreement to obtain resources to serve current debt, finalize the construction and initiate operations of the toll road.
  • Advised Carrix as lead counsel in a joint venture with Monterra Energy to develop and operate a hydrocarbons storage terminal in Tuxpan on the Mexican Gulf.

Jones Day

Partners Manuel Romano (cross border M&A, joint ventures and strategic alliances), and the ‘exceptional’ of counsel Mauricio Castilla (M&A, private equity, corporate governance), co-lead the corporate and M&A practice at Jones Day 's Mexico office, which is particularly specialised in transactional matters and notably active in the energy sector. The office works closely with the firm's wider international network, offering clients high-level expertise, especially when handling cross-border matters, skillsets showcased in the team's advice to UPL Corporation regarding its $4.2bn multijurisdictional acquisition of Arysta Lifescience. Other noteworthy practices include Javier Martínez del Campo (cross-border and domestic mergers and acquisitions, competition and corporate governance) and of counsel Antonio Franck (corporate M&A, banking, restructuring, and securities law). Romano and Franck paired-up to lead advice to Invex Infraestructura 4 regarding its $600m Tuxpan-Tula pipeline project.


I have had the chance to interact with different experts in various areas of concern, for instance: human resources, commecial, tax, trade, environmental, which helped me to have a broarder point view / complete support within one legal counseler firm.

Mauricio Castilla is the main counsellor, he always participates and gives insights within his vast experience in the majority of the topics. He is always available for a quick response or a deeper analysis. Mauricio Llamas: very knowledgest in environmental topics, very straight forward advise.’

The plus and differentiator is the in-depth knowledge of our organization. Mauricio Castilla is an exceptional adviser even in matters that transcend the exclusively legal field.’

Key clients

Invex Infraestructura 4

Sanofi Aventis


Work highlights

  • Advised Invex throughout the development of the $600m Tuxpan-Tula petroleum products pipeline project.
  • Advised Sanofi Aventis on the sale of various over-the-counter medicines in Argentina, Colombia and Mexico to  Laboratorios Sanfer.
  • Advised UPL Corporation on the Mexican aspects of its global $4.2bn acquisition of Arysta Lifescience.

Santamarina y Steta

Clients appreciate Santamarina y Steta's ‘in-depth knowledge and unmatched treatment’ when operating within the corporate and M&A sphere. Offering a strong national practice, with 25 corporate lawyers working from offices in Querétaro, Monterrey and Mexico City, the firm represents a broad mix of domestic and international clients on day-to-day matters, including compliance, and also has a good track record in joint ventures and mid-market M&A. The department houses a deep bench of highly experienced partners, including transactional practice head Juan Carlos Machorro, former managing partner Alberto Saavedra, firm chairman Jorge León-Orantes, Carlos Argüelles and Pablo Laresgoiti in Mexico City; along with César Cruz and Jorge Barrero in Monterrey, and José Ramón Ayala in Querétaro. Between them, they handle M&A, banking and finance, securities and capital markets, private equity and venture capital, along with general corporate advisory, due diligence, joint ventures, public tendering, corporate governance and data privacy, among other matters. Ricardo Orea, who focuses on transactional matters and restructurings; and Claudia Rodríguez C (corporate, M&A, project finance and real estate), were made partners in January 2020.

Practice head(s):

Juan Carlos Machorro


In-depth knowledge of the matter and unmatched treatment The treatment of each of Santamarina’s lawyers is incomparable. Expertise, combined with excellent knowledge of the subject, are the perfect combination, they never lose their composure while sweeping with the arguments of the counterpart.

The commitment to comply on time and with quality makes them stand out from their peers. Pablo Laresgoiti is an exemplary lawyer, he has the knowledge, commitment, dedication and professionalism that distinguishes him compared to other law firms.

The partners and associates of this firm are not only attorneys with extensive knowledge and criteria, they are also extremely honest, transparent, high-value people who are very dedicated to satisfying the needs of their clients. In my opinion they are the best lawyers in Mexico.Values, service attitude, legal and business knowledge. Jorge Barrero and Cesar Cruz.

Key clients

Arpa Capital

Casas Krea

DILA Capital III

Aloxom Marketing

Grupo Industrial Saltillo

Talisis Holding

Ganfeng International Trading

Alkhorayef Petroleum

Samsonite Group

Grupo Industrial Monclova

Shiptson Group (via Busche Performance Group)

Bartlett & Company / Savage

Global Medical Investments

Atlantica Yield

Airbus Group


General Motors de México

Mondelez International


PPG Industries

John Deere

La Comer


General Motors de México

Inteva Products

Work highlights

  • Advised Arpa Capital on its the MXN$1.1bn leveraged buyout by its portfolio company, IRL, of the entire corporate capital of Sekura, Agente de Seguros y Fianzas.
  • Advised Casas Krea on the implementation of a joint venture with Gava Capital, as well as in the immediately subsequent acquisition by the JV of two real estate lots from Banco Mercantil del Norte.
  • Advised automotive supplier Inteva Products on the sale of its automotive glass business to CIE Automotive.
  • Advised Aloxomo Marketing on the sale of the retail business operated by its subsidiary, Tennix, to Grupo Axo.

Von Wobeser y Sierra, SC

Von Wobeser y Sierra, SC stands out for advising some of the leading domestic and international corporates operating in Mexico. The ‘technically robust team’ offers a broad expertise that ranges across M&A, joint ventures and divestitures, as well as key ancillary areas such as anti-corruption, antitrust, banking and capital markets. The ‘excellent’ Luis Burgueño (cross-border M&A, joint ventures, corporate governance - he also has niche expertise in IT-sector transactions) heads the highly-rated department. Other key practitioners include head of the competition practice Fernando Carreño; corporate and transactional veteran, Javier Lizardi; dual-qualified (Mexico and Austria) Rupert Hüttler; Pablo Saez (corporate M&A, particularly those with a real estate element); and Alberto Córdoba, who made partner in January 2020. In addition to his M&A, PE and financing-focused practice (particularly in relation to the energy and oil & gas sectors), Córdoba has led on the firm's development of an active diversity initiative since 2016. While Andrés Nieto exited to Creel Abogados, SC in May 2020, since publication the firm has responded with the appointment of Alejandro Orellana as partner in January 2021. Senior associate Gloria Martínez and associate Santiago Barraza are also noted.

Practice head(s):

Luis Burgueño


VWS advised us on an M&A transaction in the financial services sector. They did a fantastic job with the drafting and negotiation of the legal documents. Santiago Barraza, the primary associate assigned to our transaction, displayed outstanding leadership in the process, from due diligence work to document negotiation. We highly recommend him and look forward to working on transactions with him in the future.

Excellent and very prompt attention at all times, always accessible including on weekends. A very technically robust team with complementary skills among the partners, quick in their responses and always with different alternatives and strategies. Claus von Wobeser, Alexandra von Wobeser, Fernando Moreno, Luis Burgueño, all excellent.’

Von Wobeser’s corporate law and M&A team has extensive experience in important transactions in Mexico. It is constantly present in the most important deals and  provides highly technical care. Luis Brugueño is a lawyer with experience of several years, he has excellent technical tools and a great sense of responsibility.His experience in large corporate operations and his advice is punctual and useful.

The response time of Lic. Luis Burgueño and his team is apt to speed up the decision making of any project and his knowledge is abundant. He has demonstrated a high quality when we have come to him for advice. His responsiveness in English, German and of course Spanish convinces corporations like the one I represent and having him as a business partner is highly recommended.

What distinguishes VWYS is its quality of service, its level of personalised attention. Their high professionalism and commitment to clients are highly-professional, highly-qualified attorneys. Their level of service and commitment is extraordinary with customers. His legal advice is of excellent quality. Featured partners: Luis Burgueño, Rodolfo Trampe.

Key clients

Anheuser Busch InBev

Borr Drilling

Faurecia Sistemas Automotrices

The Coca-Cola Company

Sears Holdings Corporation

One Rock Capital Partners


Krispy Kreme Doughnut Corporation

Orlegi Sports & Entertainment



Melecs EWS

Creation Investments Capital Management

Revlon Consumer Products Corporation


MacAndrews & Forbes

Palladium Equity Partners

Centerbridge Partners


Clarion Capital Partners

Berkshire Partners

Madison Dearborn Partners

Evo Payments International

Work highlights

  • Assisted US doughnut company Krispy Kreme buy back its Mexican operations from private equity fund Nexxus Capital.  Cross border deal USA and Mexico.
  • Advixed Borr Drilling on the structuring and negotiation of a $350m joint venture with Proyectos Globales de Energía and Servicios CME, to participate in a bidding process for a contract with Pemex to perform well services in the Mexican Gulf.
  • Acted as counsel for Orlegi on its $400m joint venture with TV Azteca related to the control and operation of Atlas Soccer Club.
  • Advised Sears Holdings Corporation on the Mexican aspects of its $5.2bn acquisition by ESL Investments.
  • Advising Mexican private equity firm Wamex and Germany’s DEG Invest in the divestiture of a minority private equity investment in a regional retail chain Bodesa.

Sainz Abogados

With offices in el Bajío and Cancún as well as Mexico City, Sainz Abogados is a mid-sized (44-lawyer) firm with a broad service offering across the gamut of contentious and advisory matters. The corporate and M&A practice is led by experienced name-partner Luis A Cervantes Castillo and handles a full array of transactional types across all industries and markets, most notably retail, finance, real estate, media and insurance. Specialising in cross-border corporate and financing transactions, particularly in the private equity segment Octavio Hernández Negretti is also a key practitioner. Santiago Alessio, whose broad practice includes corporate and transactional matters, made partner in January 2020; and associates Daniela Alcázar and Pablo Martínez Arizpe are both also noted. Headline matters saw Cervantes lead advice to PINFRA on its $250m acquisition of a minority interest in Concesionaria de Autopistas de Michoacán. Since publication the firm has split into Cervantes Abogados and Sainz Abogados, S.C., effective as of November 2020.

Practice head(s):

Luis A Cervantes

Key clients

Promotora y Operadora de Infraestructura (PINFRA)

Agrícola Zarattini

Media Business Generators

Gastronómica Anatole France (La Única)

Grupo Vallas

Grupo Financiero Interacciones

Island Cabo

Work highlights

  • Advised PINFRA on its $250m acquisition, , of the joint participation of Cointer Concesiones México and BlackRock, in the capital stock of Concesionaria de Autopistas de Michoacán and Operadora de Autopistas de Michoacán.
  • Advised major Mexican producer and grower, Zarattini, on the acquisition of 20% of its stock by Canada’s Mastronardi Produce Limited; value $20m.
  • Represented the shareholders of Media Business Generators (operator and licensee of “Forbes Latam’, “Food&Wine’, “Robb Report’ and “InStyle’,  on the $8m acquisition by GIN Group Soluciones Integrales, of 15% of the capital stock of the company.  

CMS Woodhouse Lorente Ludlow

The strengthening of CMS' international network, not least in South America, has further boosted CMS Woodhouse Lorente Ludlow participation in major transactional activity particularly in the tech, media and communications, and energy, infrastructure and projects areas which are particular strengths of the office. The growing practice group is co-led by seasoned founding partner Enrique Lorente Ludlow and transactional specialist César LechugaLuis Fernández Lagunas handles M&A in the energy sector, as does senior associate Gabriel Salinas Ruiz; and fellow senior Giancarlo Schievenini, who has a broader corporate practice, is also noted. Recent mandates include providing holistic advisory -including corporate, IP, healthcare and life sciences, contracts and regulatory- to Biomitech, a Mexican start-up that has originated a new greenhouse gases remediation device. The team was further boosted by the January 2020-hires of Raúl Zepeda (corporate and capital markets) from Banco Inbursa, as partner; and senior associate Héctor González Martínez from Ontier México. Since publication, Schievenini has been raised to the partnership, effective as of January 2021.

Key clients

Freudenberg Chemical Specialties

Brookfield Global Renewable Energy Advisor

Boehringer Ingelheim Promeco



Immediate Media

Shearwater Group / Charles Taylor InsureTech



Deka Immobilien Investment



Hikvision Mexico

Leadec Holding


Brookfield Global Renewable Energy Advisor


WRB Serra Partners Fund

Work highlights

  • Advised Colgate-Palmolive on the due diligence and $1.69bn acquisition, of Laboratoires Filorga Cosmétiques subsisiary Filorga Mexico.    
  • Advised Brookfield Global Renewable Energy Advisor on its $1bn acquisition of 50% of a 1.66GW, solar power generation portfolio with projects in 7 jurisdictions (México being second by volume of installed capacity).
  • Advised Boehringer Ingelheim on the sale of Boehringer Ingelheim Promeco to a Mexican pharmaceutical company.
  • Advised Shearwater Group on the Mexican aspects of its $690m acquisition of the marine seismic business line of Western Geco, the geophysical services product line of Schlumberger.

Cuesta Campos y Asociados S.C.

Operating from its offices in Mexico City, Guanajuato and Guadalajara, Cuesta Campos y Asociados S.C.'s 18-strong corporate team is typically engaged in mid- and upper mid-market transactions and garners praise for offering ‘technical and specialized attention’ to resolve its clients' needs. The practice, is led by experienced name-partner Hugo Cuesta  (cross-border transactions, M&A, finance, commercial law and corporate governance) and Azucena Marín (M&A, competition law, financings, and corporate governance); both are recommended for their ‘expertise and availability’, and regularly advise on transactions and joint ventures in a variety of industries and business sectors. The team has also developed a strong focus on anticorruption and compliance matters. Principal associate (and M&A and international trade practice director) Rafael Sánchez Acosta, and senior Andrés Urquidi (banking and finance, M&A, compliance), are also noted.


The Cuesta Campos team has given me technical and specialized attention to my needs, always with the best disposition and with the correct answers.’

In its total availability, to give me what I need daily in real time. It is what I value the most. Their expertise, as well as the availability they have.

I can highlight that the CCA team always pays special attention to all aspects that may represent a risk to our operation and seek the best and most efficient way to both communicate it and reconcile it.

Key clients








Add Armor

HB Chemical

Bright Machines

Work highlights

  • Advised Wizeline on establishing its operations in Mexico, including the negotiation and preparation of all its master service agreements for Latin America.
  • Advised HB Chemical on the preparation, negotiation, and closure of its operations in Mexico in preparation for their sale.
  • Advised manufacturer Bright Machines on the definition of its legal strategies in Mexico, revision of several contracts, including its master warehouse service-agreement, and the master contract for the equipment and machinery that are commercialized under the IMMEX program.

DLA Piper Gallastegui y Lozano

DLA Piper Gallastegui y Lozano, the international firm's Mexico office, has an established corporate practice led by managing partner Eduardo Gallastegui  (corporate M&A, antitrust, foreign investment), in conjunction with Gerardo Lozano Alarcón (corporate/M&A, foreign investment, commercial advisory, commercial arbitration and real estate), both well-known market figures. Moreover, the 18-strong team -including partners Jorge Benejam, Edgar Romo, Marcelo Paramo, Maria Rios, Diego Martinez and Xavier Mangino- is backed by the firm's international network, exposing the team to a healthy flow of inbound investment mandates: recent highlights include significant inbound cross-border M&A in the pharmaceutical and media sectors. Corporate-focused associates Yesica Garduño and Joaquín Gallastegui are also noted.

Key clients

Grupo Financiero Interacciones

Illinois Tool Works


Qualitas Controladora

Roche Mexicana de Fármacos

Becton Dickinson

Sports World

NTT Data


Work highlights

  • Advised Inversiones Firpo, and Grupo Cosbaj on their acquisition of Operadora de Hoteles Costa Baja (owner of the Gran Turismo Hotel in the “Puerta de Cortes” tourism development, Baja California Sur), from Promociones Turística.
  • Advised CHC Helicopters on establishing  operations in Mexico related to transportation to offshore oil and gas platforms.


Garrigues continues to steadily strengthen its standing and participation in the Mexican market, and benefits from its established brand, particularly with Spanish and US companies engaged in cross-border transactions. The well-regarded, 12-strong team is led by Gerardo Lemus, who has over 25 years' experience in M&A and other corporate matters including governance, commercial contracts, cross-border financings and real estate, along with merger-control matters. Strong backing comes from a trio of principal associates: Miguel Ángel Rocha (M&A, corporate restructuring, commercial contracts and real estate); Daniel González (corporate, finance and M&A) and Miguel Ángel de la Fuente (M&A and financial transactions). The team was further strengthened with the 2019-hire of senior Carlos Eduardo Gómez from Mijares, Angoitia, Cortés y Fuentes S.C.. Recent mandates saw Gabriela Pérez Sierra , who made partner back in 2017, lead on the Mexican leg of CH Robinson's €42m global purchase of US-based freight-forwarder, Space Cargo Group.

Practice head(s):

Gerardo Lemus

Key clients


American Tower


World One Group

Proskauer Rose (as legal advisers to One Peak Partners)


CH Robinson

Ammeraal Beltech

Corporación Asturamericana

Dual Risks

Work highlights

  • Advised Talma subsidiary TSA Investments, as winning bidder in Brazil-based aviation-support company Varig Logística’s auction of 95% of Varig de Mexico.
  • Advised manufacturer Ammeraal Beltech on its acquisition of Mexican conveyor-belt company Linarand.
  • Local counsel to One Peak Partners (in conjunction with international counsel Proskauer Rose LLP ) in an €80m investment in DocPlanner, as part of a Series E funding round.

Hogan Lovells

International player Hogan Lovells has invested heavily in its practice, not just in Mexico City, but also in Monterrey, where Guillermo González Frankenberger (M&A, real estate, corporate governance, commercial, and corporate matters), and Jorge Yañez (M&A and corporate matters as part of a broader practice), are both very active. In the capital, key partners in the 21-strong team include highly-rated managing partner Juan Francisco Torres Landa, who handles civil, commercial, and corporate matters; project finance, foreign investment, competition and arbitration (among other areas); Ricardo Pons (corporate reorganizations, antitrust and competition, M&A and corporate law); Federico de Noriega (financial transactions, M&A and data privacy), and Carlos Ramos Miranda (general corporate, M&A, insurance, infrastructure and energy law). Recent matters include advising BIA Foods Investments on the $113m acquisition of Grupo Industrial Suarez, which in turn holds canned products manufacturer Empacadora San Marcos.

Key clients

Repsol Downstream Internacional

CHT de México

Latam Foods Investments

Ford Motor Company



Assa Abloy


International Finance Corporation


Marsh McLennan




Sage Automotive Interiors

Cushman & Wakefield


Work highlights

  • Counsel to Repsol regarding the establishment of a $65m joint venture with Bardahl de Mexico that ended in Repsol acquiring a 40% participation in Bardahl de México; the team also handled the anti-trust and post-closing aspects of the transaction.
  • Provided corporate, transaction and day-to-day advise to Urban Science, a logistics and information processing service for OEMs and brands.
  • Advised Reliance Steel & Aluminium on its $30m acquisition of the remaining 40% ownership interest in Acero Prime from its joint venture partner, an affiliate of United States Steel Corporation.

Pérez Correa González

The corporate group at the former SOLCARGO has extensive experience assisting national and multinational corporations, banks, non-bank financial institutions with a range of transactions including mergers, acquisitions, divestitures, sales of shares and assets, and joint ventres. Over recent years, the team has udertaken an increasing amount of work for funds clients, where co-heads Fernando Eraña and Luis González are experienced in venture capital and private equity work, respectively. Omar Aguilar, who handles corporate and transctional matters, joint ventures, contractual advice and transactional and corporate risk assessment, was promoted to partner in July 2020; and senior associate Juan Carlos Izaza Avila is also a key member of the team; however, former senior Rodrigo Muñoz D moved in house in April 2020. Since publication: as of December 2020, the firm divided into three new entities. The lifescience and intellectual property practice now operates as Solórzano Linaldi; the administrative and environmental unit as Carvajal Machado Abogados; while Pérez Correa González -where the above team is now located- has a broader service offering centred on M&A, real estate, banking and finance, corporate law and bankruptcy.


In my experience the Solcargo team provides service that is more responsive and more practical than most of its competitors. The firm has also done a good job of moving assignments to the youngest/least expensive qualified attorney.’

While the Solcargo team has provided good advice and service across the board, I have been particularly impressed with Juan Carlos Izaza and Eduardo Montenegro.’

Key clients

Skyview Capital

Syntax Systems

Innohub Mexico

Ideas y Capital

Bertram Capital


Grupo Finansiell (Doopla)

Moody’s Investors Service

Mitsubishi MCAM Mexico

Mediamonks – Posadas


Work highlights

  • Assisted global private investment firm Skyview Capital on all legal aspects and negotiations related to its cross-border acquisition of Conduent de México.
  • Advised ERP-services group Syntax Systems on its acquisition of Freudenberg IT Mexico.
  • Advised InnoHub Mexico on a combined operation involving a direct equity injection from Banco Santander and an acquisition of part of the outstanding shares of the company; aggregate values MXN$250m.

Sánchez Devanny

Operating from its offices in Mexico City, Monterrey and Querétaro, the practice at Sánchez Devanny is over 30-strong and handles a broad range of work, including advice on joint ventures, M&A, corporate governance and compliance. Key partners include Francisco Andres Gamez-Garza (corporate, M&A financings, joint ventures and compliance due diligence), Cristina Sanchez-Vebber (corporate M&A and competition law), Ernesto Silvas, who is very experienced in cross-border transactional matters; and Jose Antonio Postigo-Uribe (head of the corporate and M&A practice in Mexico City, where he is also office managing partner); while in Monterrey Gerardo Prado-Hernandez (M&A, commercial transactions, day-to-day advisory and contracts) and office managing partner Humberto Morales-Barron, who is also head of the corporate governance and regulatory compliance practice. Ongoing matters include advising Medtronic on its MXN$173m acquisition of certain business lines (concerned with coronary health) from Artimédica; the team also remains particularly active in the automotive sector, long a strength of the firm.

Key clients

Linamar Corporation


Tempel Steel

Dematic Corporation

Sumitomo Corporation

Littler Mendelson

Kongsberg Automotive

Repsol Downstream Internacional

Manufacturas Solco

John Varvatos Mexico

Work highlights

  • Provided legal advice and assistance to Repsol, in the negotiation of a $25.2m joint venture agreement to acquire 50% interest in a family owned group of companies
  • Advised Manufacturas Solco on the negotiation of its $5.5m sale to  Biossmann Group.
  • Advised John Varvatos on its acquisition  of the business and the assets of Comercializadora Regent, Madden Corporation and Ben Betesh International; value MXN$7m.

Aziz & Kaye Business Law

A new addition to the corporate and M&A ranking this year, Aziz & Kaye Abogados fields a ‘solid and committed team with unbeatable attention', clients appreciating ‘direct contact with the founding partners’ Luis Aziz (former founder of SAI Derecho & Economía S.C and Allan Kaye. Aziz is a transactional and competition law specialist while Kaye has considerable experience with transactions involving share and asset purchases and sales and joint venture structures, along with shareholder agreements and other commercial transactions. The pair co-head the ten-strong department which also includes corporate, M&A and private equity-focused senior associate Rebeca Sánchez Pérez. The team was further strengthened with the August-2019 hire of associate Alfonso González de Cossío Díaz who joined the firm from Ritch, Mueller, Heather y Nicolau, S.C.


It is a very professional team of lawyers, with an excellent service.’

“It’s a highly educated and professional team: Luis Alberto Aziz, Allan Kaye and Rebeca Sanchez stand out.

A very solid and committed team with unbeatable attention.’

The direct contact with the founding partners of this office makes a very pleasant and trustworthy relationship.

Key clients

América Móvil


Bardahl de México

Vicky Form


Palacio de Hierro

ESP MX Latam


Work highlights

  • Advised First Cash on the acquisition of certain assets  and rights over franchise agreements corresponding to several hundred pawn shops; value $70m.
  • Advised a Mexican investment fund, Esports MX LATAM on carrying out an investment in professional sports team Pittsburgh Knights.
  • Advised Bananum on the MXN$20m acquisition of 32% of the capital stock of a digital surveillance and security company.
  • Advised Grupo Shu on a MXN$15m strategic alliance with a fellow restaurant business owner for the execution of certain franchise agreement.
  • Permanent day-to-day corporate advisory to luxury department store chain Palacios de Hierro.

Deloitte Legal Mexico

Deloitte Legal Mexico has an experienced, 'highly professional and versatile' team specialized in major cross-border M&As, joint ventures and restructurings. As one client puts it, ‘quality is the hallmark’ of the practice led by partner Diego Valdes, who is praised for offering ‘simple, feasible approaches to most sophisticated legal and financial challenges’. Luis Lavalle, Ramon Bravo and Mauricio Oropeza, are other noted members of the practice, which has built up an interesting offer to national an international clients such a Marchesini Group, Grupo Rubaiyat and Galaz, Yamazaki, Ruiz Urquiza, mostly in M&A transactions and day-to-day business.


They are innovative thinkers and problem solvers. Quality is the hallmark of Deloitte Legal’s practice. Diego Valdes provides us with simple, feasible approaches to our most sophisticated legal and financial challenges. He has a sharp focus on the issues that matter most and always addresses our immediate needs. Diego definitely stands out from others who might be looking at the same thing, because he thinks differently, and literally sees things differently.

Diego and his team are highly professional and versatile people who adapt to the situation that the client requires. Professionalism, preparation, and adaptive thinking make this practice refreshing in what is perceived as a very rigid world.’

The response capacity is adequate but the depth of the analysis, the ability to promptly follow up on the matter, anticipate problems and provide exceptional service is poor and below the standard of the top Mexican law firms.’

Key clients

Marchesini Group

Grupo Rubaiyat

Galaz, Yamazaki, Ruiz Urquiza

Work highlights

  • Acted as counsel of Grupo Rubaiyat (a company in the food and beverage industry with restaurants in Argentina, Brasil and Spain) in the sale to Carajillo Group.

Holland & Knight

Holland & Knight's Mexico office fields a small team with considerable experience advising on mergers, asset purchases and sales, tender offers and leveraged buy-outs, spin-offs, MBOs and joint ventures, along with corporate recapitalizations, reorganizations and restructurings. It also demonstrates impressive private equity expertise and is a frequent participant in regulated-industry transactions, notably in the financial and energy sectors. A well-known figure -particularly in the telecoms segment- experienced managing partner Luis Rubio heads an eight-strong group that primarily acts for foreign -predominantly US- clients, arriving and operating in Mexico. Alejandro Landa, whose broad corporate practice takes in a range of energy, finance, transactional and real estate matters; and Octavio Lecona, a telecoms, media and technology specialist whose corporate practice includes M&A, joint ventures, corporate restructuring and contractual matters, bring further partner-level participation. Key support comes from senior counsel Selene Espinosa who undertakes M&A, financings, international joint ventures, cross-border transactions and strategic alliances, among other corporate activity. However, fellow former counsel Blanca Luevano moved in-house at AT&T in August 2020.

Practice head(s):

Luis Rubio


Holland & Knight’s M&A team is highly trained and accurate in its advice, providing personalised attention and punctual accompaniment during the process.

Luis Rubio is a lawyer who always takes the time to analyse consultations in detail, gives effective legal advice and without incurring idle time.’

Octavio Lecona is available at all times, has a great knowledge of the subjects and his advice is timely.

Key clients

Walter Surface Technologies

Aero Hardware and Supply



Individual Foodservice Holdings

Work highlights

  • Advised the sellers, Aero Hardware and Supply, on the negotiation of an asset purchase agreement with Motion Industries and Motion-Mexico.
  • Advising Dufry Mexico on the development and implementation of a chain of duty-free shops in Mexico, including administrative customs authorisations.
  • Advising Telefónica on the Mexican aspects its multijurisdictional sale of data centres to Asterion Industrial Partners, in which the firm is representing the client globally; the $616m transaction involves centres in the USA, Argentina, Brazil, Chile, Spain and Mexico.
  • Advised Individual Foodservice Holdings on the $20m sale of its local subsidiary, Vasoking de México.

Ibarra, del Paso y Gallego

Growing firm Ibarra, del Paso y Gallego (it incorporated new partners in both IP and labour during 2019) fields a ‘solid team’ -seven-strong- with ‘extensive knowledge’ of the corporate market and transactional matters. Led by the ever available Gerardo Gallego Díaz de León, the practice group has significant experience in M&A, divestitures, reorganisations, spin-offs and most notably, joint ventures and commercial tie-ups between foreign investment and local market players; real estate, hospitality and the biotech / life science sectors have emerged as particular sweet-spots. Moreover, with cost-effective day-to-day advisory services, the firm has remained busy throughout the Covid-19 pandemic. Partners Rodrigo de los Ríos (M&A, finance, and capital markets) and associate Fernando González Gómez (corporate, M&A and real estate), provide key support for the practice.


All the lawyers who were involved in our matter were well prepared and knowledgeable about everything that was being reviewed, and with the appropriate recommendation to carry out the deal we made. They were available at any time, to attend our requirements and always had thoughtful and sensible arguments and recommendations so as not to make any mistake remain within the limits of the law and take care of our interests.

‘A solid team, always available. Gerardo Gallego: extensive knowledge of the market, attention to detail, very good attitude and excels with creative ideas when needed.’

The office has a very capable team, with very good technical and commercial knowledge and a very pragmatic approach. It is a very pragmatic and efficient team; they know how to identify what gives value to the client and what does not.

Key clients

Grupo IGS

Grupo Alto


Renewable Resources Group

Grupo Radio Fórmula

Grupo Only For

Polymershapes Mexico

Work highlights

  • Advised Grupo Only For (via 04GT Holding Company), on its investments in Strive Pharmaceuticals and Simpex Pharmachem.
  • Advised Polymershapes on the acquisition of Mexican company Vinil y Papeles Lyco.
  • Advised Grupo IGS on its $90m acquisition of an industrial property portfolio.

Jáuregui y Del Valle, S.C.

Clients rely on Jáuregui y Del Valle, S.C.'s recommended practice for their high level of expertise on a wide range of matters, including M&A, corporate governance, distribution agreements and restructurings. With over 20 years' experience and knowledge of banking and finance and real estate as well as corporate matters, Miguel Ishii Yokoyama heads up the 20-strong team. Other key members include María del Pilar Labastida, who focuses on corporate, commercial and transactional matters; and Citlali Perez - corporate transactions, competition, international commercial arbitration and publc bidding; she also represents a growing number of private equity funds, among them Alta Growth Capital, which the team advised on two important transactions, and Nexxus Capital which instructed the firm on its acquisition of a 60% stake in Grupo Turistore. At associate level, Alejandro Creel Ysita, who handles transactional matters as part of a broader practice, is also noted.

Practice head(s):

Miguel Ishii Yokoyama

Key clients

Alta Growth Capital

Alta Growth Capital Fund III and Nexxus Capital Private

Oleum Technology

Suzuki Motor de México

Grupo Sicrea


FXI Cuautitlán

Brambles Business Services México

Work highlights

  • Advised Alta Growth Capital on the negotiation and execution of a minority investment in Lottus Education a higher education consolidation platform in Mexico.
  • Advised Alta Growth and Nexxus Capital on the acquisition of a 60% stake in Grupo Turistore, a souvenirs retailer operating in airports and tourist zones in Mexico.
  • Advised Oleum Technology on a  joint venture with NRG Holdings regarding technology services procurement in the oil and gas industry in Mexico.

Kuri Breña, Sánchez Ugarte y Aznar

Best known for its banking and capital markets' capabilities, Kuri Breña, Sánchez Ugarte y Aznar is also active in the corporate and transactional arena, notably on behalf of investment fund clients. The 19-strong practice group includes experienced partners Daniel Kuri BreñaLuis Octavio Núñez, Guillermo Garay and Jesús Sánchez Ugarte, and plays to its strengths when handling transactional matters such as M&A, private equity buyouts and joint ventures, particularly in relation to the real estate, infrastructure, manufacturing and finance sectors. 2019 saw the return of experienced senior associate Sandra Solís, from her in-house role as senior legal counsel at GE Capital; and the team was further strengthened with the mid-year hires of associates Elizabeth Tovar, from the former Romo Paillés, S.C., and Selene González from SAI Derecho & Economía S.C.

Key clients

Fuyao Glass Group Industries


Vinte Viviendas Integrales

Work highlights

  • Advised Fuyao Glass Group on the acquisition of SAM Automotive de Mexico from Fysam Auto Decorative and SAM Automotive International; value, €58.8m.
  • Advising Banco Nacional de México on the transfer of its shares in Mercado Mexicano de Derivados and fiduciary rights in the Asigna trust to Bolsa Mexicana de Valores.
  • Advised Docuformas in an operation in which it undertook a vertical merger with its subsidiaries.

SMPS Legal

SMPS Legal's 11-strong practice group displays solid knowledge across a broad swathe of corporate activity, from company incorporation and structuring, through operational and strategic matters such as compliance, governance and a full range of transactional and investment activity, through to closure and liquidation. With a roster ranging from start-ups to large corporates, clients appreciate the ‘extremely personal and friendly treatment’ offered by the team composed of Eduardo Pizarro (corporate advisory and finance, joint ventures and M&A); Alejandro Ortiz who specializes in assisting companies establish and operate in Mexico; Andres Pizarro Suarez (corporate / M&A, joint ventures, real estate, restructuring, investments and regulatory); and Iván Pérez (banking and finance, capital markets and M&A). Moreover, the team has been substantially reinforced, firstly with the April 2020 hires of former Romo Paillés, S.C.-managing partner, real estate expert María Teresa Paillés, and her corporate, transactional and real estate-focused colleague María Esther Rey; and subsequently, with the August 2020 hire of Juan Pablo Visoso, formerly in the private equity sector, who joins as a partner of the corporate/M&A and banking and finance practices.


They have an extremely personal and friendly manner; 24/7 professionalism and dedication.

Key clients

General Electric Company

The Bank of New York

US Green Building Council

American Greetings

Grupon Nacer (Universidad Icel)


Quest Diagnostics

R&R Partners

Atco Group

Nexxus Capital


O’Donnell Group

Grupo Axo


DHL Express

Olympus Tours

Ventura Capital Privado

Mexplorer Capital

Grupo Kuo

Africam Safari

Office Depot

Grupo Gigante

Now New Media

Buen Manejo del Campo

Bouffier Family

Exile Content

Joi Canadian Stores

Work highlights

  • Advised Buen Manejo del Campo and its controlling shareholders in connection with a re-opening of its series C investment round.
  • Represented Corpomin, Industria y Proceso de Minerales, and Drilling Minerals International, in a $10m joint venture transaction with Pluess Staufer Mexico and Steinbock Barite related to a mining project in Mexico.
  • Advised Atco Structures & Logisitics on its $20m acquisition of a local modular and mobile unit manufacturer with operations across the Latin American region.

Vega, Guerrero & Asociados

The corporate practice at 11-strong boutique firm Vega, Guerrero & Asociados garners praise from clients for its ‘dynamism and assertiveness’ and surprises for its ‘adaptability’. Led by partner Joaquín Vega Martínez (corporate, M&A, finance and contracts, as well as dispute resolution), the ‘excellent’, six-strong team represents local and foreign clients from a range of industries -including automotive, IT, hospitality, real estate, electronics manufacture, public services, education and the agricultural sector- regarding the opening of subsidiaries in Mexico, M&A, commercial transactions and arbitration, and a range of other corporate law matters. Veteran commercial law specialist and senior partner Joaquín Vega Medina, who has over 35 years' experience, is also a key member of the team.

Practice head(s):

Joaquín Vega Martínez 


They are an office that acted quickly and efficiently, which is not only excellent but necessary in legal matters. Listening carefully to clients. Every problem that arises, Joaquín actively listened to me and effectively solved it. The firm presented various possible scenarios for the future and that was very helpful in clarifying the steps we wanted to take.

VGA is an excellent team. His high technical knowledge and agility in responding to the different scenarios that were presented at all times, allowed us to resolve issues with VGA, which for other offices seemed practically impossible.’

Dynamism and assertiveness. The strategy is never static and waiting, it always changes as the circumstances are rearranged and seek to remain always one step ahead. Joaquín Vega maintains excellent control of the strategy and of his work team, not being satisfied until the result is achieved. Montserrat Abogado defends the interests of his clients through and through when required, until returning the situation to a field of negotiation and conciliation. Aldo Muñoz and Melissa González make an outstanding complement in all cases, managing to simplify and document situations that for other offices would take much more time and would require many more reviews by the client.’

It is a team with surprising adaptability. We had radical changes in business conditions in various operations that involved restructuring operations and Joaquín Vega and his team responded in a calm, pragmatic and agile manner.

Key clients

Nuba Expediciones

Dairy a Day


SVI Liberty

La Huerta

Teklas Automotive

Odelo Farba


Work highlights

  • Advised Spanish luxury travel company Nuba Expediciones on the €12 million acquisition of twohigh-end Mexican tourism companies, Lozano Travels and International Travel Group.
  • Currently advising leading EMS service provider SVI Liberty Company on the expansion of its operations to Mexico City and Guadalajara.