BKM | Berkemeyer celebrated its 70th anniversary in 2021 and, having started originally as an intellectual property firm, it has developed into one of the country’s full-service heavyweights, acting in the full range of corporate matters. The team is praised for its ‘innovative and business effective solutions‘ and its client base includes international leaders in pharmaceuticals, banking and telecoms, as well as key players in Paraguay’s agribusiness sector. Managing partner Hugo Berkemeyer has established a strong reputation in the market and oversees advice to many of the firm’s top clients. He co-leads the practice with Manuel Arias, who was promoted to the partnership in 2022 and frequently leads on transactional matters; and Carla Sosa, who focuses on the contentious side of the workload. The department also fields a large team of associates; Milena Sljivich is experienced in international transactions and day-to-day corporate matters; Leyla Apud supports across the range of M&A; Antonio Villa Berkemeyer frequently assists with commercial contracts and competition law; and Alexander Berkemeyer, who returned to the team after completing an LLM and MBA in the US, concentrates on advising English and German-speaking clients.
Corporate and M&A in Paraguay
Hugo Berkemeyer; Carla Sosa; Manuel Arias
‘It is a multidisciplinary team, with lawyers prepared both in experience and academic preparation. The strength of the team is that they provide innovative and business-effective solutions within the legal framework. They have a very practical and preventive vision which makes it easy to work with them. They have a response capacity and predisposition based on international standards.’
‘Alexander Berkemeyer gives us confidence and support, not only at a legal level but also at a business level. Always looking for efficiency with innovative ideas in administrative areas. The team is made up of an equal number of young men and women, led by senior lawyers such as Alexander Berkemeyer, Antonio Villa Berkemeyer, and Carla Sosa.’
‘The plus that makes them stand out as lawyers is their experience, educational preparation, and international exposure. The team is made up of young talent led by lawyers who have been in the firm for a long time. They stand out from the competition because they offer innovative and comprehensive solutions and accompany each step of the process.’
‘Alexander Berkemeyer: Business vision, responsiveness and immediate predisposition, excellent management of resources, focuses on client satisfaction and efficiency. Excellent knowledge of the legal and business market, through which he strives to provide a differentiated and personalised service to our requirements. Antonio Villa Berkemeyer: Practicality in legal solutions, team management.’
‘Carla Sosa, with whom I have dealt, has experience and knowledge that facilitates the due diligence approach and the fundamental needs for the SPA negotiation process that protects the client’s interests.’
‘It seemed to me that Berkemeyer has professionals with a more thorough knowledge of the regulatory environment and of some legal aspects of the country that make a difference in an M&A process.’
‘BKM/Berkemeyer is a highly efficient team of professionals with expertise in various areas. What makes BKM unique is the speed with which they respond to our queries, as well as the predisposition to always clarify our doubts.’
‘They are always very up to date. The person with whom we spoke masters the law and correctly advises us on the needs we have.’
Agar Cross Paraguaya
Dow Agrosciences Paraguay
American Tower Corporation
Astarte Capital Partners
Consorcio Corredor Vial Bioceanico
Consorcio DC Ingenieria -Stiler
Johnson & Johnson del Paraguay
Líneas Panchita G.
Rutas del Este
Telefónica Celular del Paraguay
Timac Agro Paraguay
Fernado Leri Frizza
Ana Brun & Julio Lesme
Ebanx Payment Solutions
Tetra Pak Paraguay
Grupo Zuccolillo Mosciaro
Metro World Digital
Pfizer Louxemburg, Sucursal Paraguay
Reintjes España, Sucursal en Paraguay
Rizobacter del Paraguay
Savant Pharm Paraguay
Ricoh Latin America
Grupo Quiñenco (Invexans/Enex Chile)
Fahs Family Group
Farmina Pet Foods Brasil
UHU & Co
Latham & Watkins
Elements Global Services
- Advised Raizen on the Paraguayan law aspects of its acquisition of 50% of the shares in domestic fuel distributor Barcos y Rodados.
- Assisting Bayer with reviewing contracts and guarantees, and support on technology usage licenses.
- Advised Agar Cross Paraguaya and Corteva Agriscience Paraguay on reviewing contracts and guarantees, and supporting on the assignment of credits and constitution of mortgages.
Noted for its ‘expertise, experience and proactivity‘, Ferrere‘s corporate and M&A team acts as counsel to a host of international companies with operations in Paraguay, its presence across the region being a draw for clients wanting coordinated advice for their Latin American interests. The department handles the complete range of corporate work, from high-end M&A and joint ventures to contracts and day-to-day corporate and commercial matters. Managing partner Néstor Loizaga heads the practice and is one of the country’s most experienced practitioners for handling complex cross-border transactions. In one of the firm’s recent highlight mandates, Carlos Vasconsellos coordinated a large cross-practice team to assist Marfrig in establishing operations in Paraguay. Verónica Franco is an up-and-coming partner regularly involved in cross-border transactional matters, while Eduardo Ammatuna stands out for his knowledge of the fluvial and logistics sectors. At the senior associate level, Claudia Arietti frequently supports on M&A, Manfred Heyn has returned to the firm after two years at Cleary Gottlieb Steen & Hamilton in Buenos Aires, and Raúl Pereira has experience in corporate and commercial transactions for domestic and multinational clients.
‘Ferrere and its entire team are always available and the advice is dynamic and extensive.’
‘What makes the lawyers of the firm stand out is their professionalism, agility of response, their predisposition to business and the fact of acting as a link in a country that does not have internal lawyers. Its best quality is empathy and predisposition to accompany us to be better businesses, with extensive knowledge of its professionals and warmth in the treatment.’
‘Expertise, experience and proactivity of the lawyers to understand the client’s problem and find practical solutions.’
‘Eduardo Ammatuna – Experienced lawyer, business vision and always available.’
‘It is a compact multidisciplinary team, well connected to each other. Streamlines queries and troubleshooting.’
‘In our case, Verónica Franco is permanently attentive to our requirements, and very efficiently delegates the issues on which we consult her.’
‘Ferrere advises us on corporate matters in the region, giving us all the necessary support, considering that we do not have a physical presence in the country. The team knows our business model and its complexity perfectly, being very easy to interact and explain new projects that we intend to launch.’
‘The most remarkable quality is the high level of understanding of our business, the industry and the complexity of our operation.’
Cervepar (Anheuser Busch-Inbev)
Marfrig Global Foods
Amazon Web Services
Hidrovías Do Brasil
The Walt Disney Company
J. Fleischman y Cia
- Assisting Hidrovias do Brasil in its acquisition of Imperial South America, Imperial Shipping Paraguay and other assets of the same group for approximately $90m.
- Advising Marfrig Global Foods on establishing its meat processing business in Paraguay, as well as obtaining foreign investment benefits.
- Acting for both the buyer Grupo Vazquez and target company J. Fleischman y Cia in the purchase of 100% of shares of the latter under a Chinese wall scheme.
Estudio Jurídico Gross Brown
Estudio Jurídico Gross Brown‘s corporate law department covers the gamut of corporate law matters ‘with precision and skill‘, supporting its clients through the full life-cycle of a transaction, and on daily corporate governance. It has strong relationships with some of the leading companies across Paraguay’s key industries, with recent highlights including instructions in the energy sector from President Energy and Ecop. Its eclectic client base also takes advantage of the team’s regulatory and administrative law expertise, and the firm's competition and antitrust practice also works closely with the core corporate department. Experienced practice head Sigfrido Gross Brown is well regarded and leads on the majority of matters. Senior partner Jorge Rafael Gross Brown is regarded by one client as ‘unequalled in his range of experience‘ and remains an important advisor for several clients, while at the opposite end of his career, senior associate Pablo Debuchy is valued for his ‘security in handling corporate or contractual issues‘. Associate Tamara Arietti is another active member of the team, as are Camila Basili and Kamila Gimenez.
Sigfrido Gross Brown
‘Excellent availability to understand the needs of the business and the public policy area. Presentation of reports and commitment to the achievement of the proposed objectives.’
‘Deep knowledge of the different sectors impacted by technological advances (financial sector, digital transformation sector, education, health, among others). Knowledge of legislative priorities and current and projected regulations. I would mention Eduardo Gross Brown and Pablo Debuchy.’
‘In comparative terms, what stands out is the affinity and closeness we have with the firm, which makes it easy to deal with the issues because each party lends its best disposition to understand what is needed and provide what is required.’
Club de Ejecutivos del Paraguay
Black Sheep (Wholesale Brothers)
Grupo América/Canal 9
Deere & Company
Empresa Distribuidora Especializada (Edesa)
Ambipar Participacoes e Empreendimentos
The Church of Jesus Christ of Latter-Day Saints
Koga Impact Lab
GV Corp (Grupo Vázquez)
- Advised GV Corp on its acquisition of 70% of the shares of Financiera El Comercio.
- Advising President Energy on the farm-out of the Pirity concession for the exploration and exploitation of hydrocarbons in the Paraguayan Chaco to CPC Corporation, Taiwan.
- Assisting Ecop with the establishment and operation of its franchise of gas stations.
Both historically and currently, Peroni Sosa Tellechea Burt & Narvaja is a name synonymous with corporate law matters at the very top of the domestic market in Paraguay. The department is seasoned counsel to domestic companies across the full range of Paraguay’s key sectors, while also being experienced in advising international entities with interests in Paraguay. Practice head Esteban Burt has over four decades of experience in a range of matters, encompassing the range of the firm’s corporate services, while ‘very knowledgeable partner‘ Victoria Burt is one of the practice’s up-and-coming figures and leads the corporate compliance team. Another partner developing a key role in the practice is Eduardo Alfaro, who is particularly noted for foreign investments projects, especially those for obtaining tax incentives. Associate Vanessa Oddone is an important member of the team, supporting in work for prestigious clients and playing a key role in the corporate compliance group. Senior partners Francisco Peroni and Marcos Peroni are experienced figures and remain lead contacts for some of the practice’s standout clients, and José Luis Vega Meza is noted for his expertise in insurance.
‘We have worked intensively with Peroni Sosa Tellechea Burt & Narvaja over the past year and are very pleased with the collaboration: every team member is very approachable and dedicated. The firm is well rounded, with good knowledge of their jurisdiction and well prepared to guide foreign clients.’
‘There is a good multidisciplinary team, coordinated among themselves. They get involved with the problem raised by the client.’
‘Victoria Burt is a very knowledgeable partner with a hands-on approach, who will go above and beyond to support the client’s needs.’
‘José Luis Vega Meza has been our lawyer since 2015. He knows the evolution of our companies.’
‘Extensive knowledge and experience of local legislation for issues related to consumer, aeronautics, contracts with suppliers, intercompany contracts with the rest of the group’s subsidiaries from the different areas of the company. Considering multiple and specific areas such as operational, maintenance, etc.’
‘Vanessa Oddone is a very promising associate, with an impeccable level of availability and ownership.’
‘They know very well the legal context of Paraguay in which my company wants to establish itself, the times and needs in each step. They have advised us on the best decisions in each context by informing us when deadlines were late and why.’
‘The professionals with whom we have had dialogue have been enormously friendly, professional and explanatory at all times about the situation and progress of our request, starting with Francisco Peroni.’
Terminal Occidental (Tosa)
Mapfre Paraguay Compañía de Seguros
Bridgestone Latin America South
Rutland (Era Real Estate Paraguay)
Cadiem Casa de Bolsa
Cadiem Administradora de Fondos Patrimoniales
- Advised Loma Negra and Itacem on their share purchase agreement, and the subsequent filing before the National Competition Commission (Conacom) for the sale.
- Advised logistics company Tosa on obtaining the first ever service free trade zone in Paraguay.
- Assisted Mapfre Paraguay with a commercial agreement for insurance retail jointly with Sudameris Bank and several local insurance brokers.
Vouga Abogados fields a ‘multidisciplinary, well-prepared, attentive and agile‘ corporate law department, which is seasoned counsel in major complex M&A and corporate compliance for both multinationals and leading domestic companies. The firm is highly regarded for its comprehensive advice in the projects sphere, most recently reflected by its advice to Paracel on all aspects of its eucalyptus mill project in Paraguay. The agribusiness sector is also an area of strength, and its corporate compliance capabilities are a recent target of growth and focus for the department. Senior statesman Rodolfo Vouga draws on 40 years of experience in overseeing the practice, alongside his son and highly regarded lawyer Rodolfo Guillermo Vouga; and Perla Alderete, recommended ‘in everything that is compliance and corporate law‘. The practice has notable strength in depth, with Carlos Vouga and Rodrigo Fernández developing impressive practices. At the associate level, Manuel Acevedo and Walter Vera have been particularly active in the firm’s most recent slate of highlights, while Georg Birbaumer, Luis Torales and Cecilia Vera are also names to note.
Rodolfo Vouga; Perla Alderete; Rodolfo Guillermo Vouga
‘The Vouga team is multidisciplinary, well-prepared, attentive and agile, with extensive experience in corporate and M&A processes.’
‘Manuel Acevedo and Rodrigo Fernández worked together with us. Both of them have been extremely helpful, and most importantly, very responsive.’
‘I think Rodolfo G Vouga is the best lawyer in Paraguay. He has an excellent capacity, very good contact with clients and other stakeholders and his knowledge is very wide. Also he is creative. We recommend Perla Alderete in everything that is compliance and corporate law, Rodrigo Fernandez in environmental law and CO2 certificates.’
‘Vouga Abogados is a very well regarded firm in Paraguay with extensive corporate experience. They are not only very good, but also a pleasure to work with.’
‘Perla Aldrete is the reason we stay with Vouga Abogados, she is very knowledgeable and gives us the feeling that she cares and stands behind us. In the beginning when we started working with the firm she never failed to attend any and all meetings/phone calls personally. Since then we also work with junior lawyers on smaller challenges, but she keeps present and we trust her in legal matters. ’
‘I have mainly worked with Rodolfo Vouga and have found him to be excellent. Very thoughtful and pragmatic. He knows how to get things done.’
‘Rodrigo Fernandez and Manuel Acevedo are really good to work with, and clear in their explanation. They provide solutions that are practical and are flexible.’
‘Great personal relationships with clients and same people of contact for all sorts of legal affairs. Very experienced senior lawyers in Paraguay, junior lawyers always available on a moments notice.’
Procter & Gamble
Archer Daniels Midland (ADM)
British American Tobacco
- Assisting Paracel with all legal aspects of its eucalyptus pulp mill project in Paraguay.
- Advising Cargo Line Paraguay on the bidding process for the logistics services to be provided to Paracel.
- Advised Mount Sinai International in its negotiations with local investment group Jerovia Group for the setting up of a state-of-the-art hospital in Paraguay.
Moreno Ruffinelli & Asociados
Moreno Ruffinelli & Asociados has continued to grow its varied base of clients, which seek the team’s advice on commercial agreements, M&A, the establishment of subsidiaries, and the full range of corporate regulatory issues. The team has a strong presence in Paraguay’s core industries, particularly agribusiness and food production, but also regularly takes part in cross-border matters across Latin America and globally. Founding partner José Moreno Ruffinelli leads the practice, an experienced reference for the whole team and lead advisor to clients including Frigomerc and Familiar Seguros. Carlos Darío Ruffinelli and Roberto Moreno are also experienced lead lawyers, while Diego Moreno and María Inés Segura have particular expertise in international law and the TMT sectors, respectively. Maria Esmeralda Moreno continues to build a strong reputation as a go-to lawyer in the market.
José Moreno Ruffinelli
‘The Moreno Ruffinelli attorneys are all well educated and familiar with their area of expertise. They have specialised lawyers who cover a wide array of necessities in corporate and private law.’
‘All members I have had a chance to interact with have always been very open to dialogue and very blunt about the particular case or cases we have discussed. Their candor avoids the creation of false expectations.’
‘The practice has a well balanced team, incorporating professionals outside of the Moreno Ruffinelli family, which might sound logical but is a rare and refreshing novelty in Paraguay.’
Aerovías del Continente Americano Avianca (Paraguay Branch)
Gical Almacenes Generales de Depósito
Hamburg Süd Paraguay
S.A.C.I. H. Petersen
Compañía de Petróleos y Asfalto (Compasa)
- Advised Mileto on the acquisition of Las Lilas, one of the largest slaughterhouses in Paraguay.
- Acted for Frigomerc in a services agreement with Frigorífico Norte (Frigonorte), through which Frigonorte would be in charge of the whole life-cycle of the processing and production of meat.
- Advised Avianca Holdings on the establishment of the branches of Tampa Cargo (Avianca Cargo), as well as Avianca Perú and Aerovías del Continente Americano Avianca.
Fiorio, Cardozo & Alvarado, Attorneys at Law
Fiorio, Cardozo & Alvarado, Attorneys at Law‘s corporate and commercial law department has a wealth of experience in advising on local and international commercial transactions, as well as in contractual matters. Active across M&A, joint ventures, the creation of trust funds and the liquidation of companies, the firm focuses on providing well-rounded support. Founding partners Juan Bautista Fiorio and Marcelo Alvarado have led the practice group for over 30 years and act for a range of longstanding multinational clients in various industries. Corporate legal advisor Bruno Fiorio and María Betharram Ardissone are further contacts to note.
With offices in Asunción, Encarnación and Ciudad del Este, Olmedo Abogados supports a variety of clients with stakes in Paraguay’s key industries and regularly assists with M&A, corporate restructuring, commercial agreements and incorporations in the country. Recent areas of focus, reflecting wider trends in the market, have included increased work in pharmaceuticals and cosmetics, as well as a swell of work in cryptocurrencies, as the country’s cheap electricity is a boon in that industry. Head of the firm Gustavo Olmedo co-leads the practice with Jose Ignacio Olmedo, who acts as lead counsel to several local and international companies in matters involving corporate structuring, M&A, loans and contracts. Alejandra Olmedo has experience assisting clients in incorporations and following that through to day-to-day operations advice, and Jose Vargas Peña is heavily involved across the board, with particular expertise in business litigation.
Gustavo Olmedo; Jose Ignacio Olmedo
Louisiana Pacific Corporation
Upi Cropscience Paraguay
Kin Master Paraguay
Medical Home Paraguay (Oradea)
- Assisting Louisiana Pacific Corporation in various corporate law matters.
- Retained by Herbalife Nutrition to assist in the draft and review of its Paraguay privacy programme.
- Advising Tasa Logistica on various corporate and labour matters in addition to a major public bidding process.
The ‘expeditious and capable‘ corporate and M&A team at Palacios, Prono & Talavera acts for domestic and multinational companies in sectors crucial to Paraguay’s economy – agribusiness being a standout strength. Construction and cement production are further niches in which the firm is well known. The team is coordinated by senior partners Carlos Palacios and Raúl Prono, while Leticia Prono garners significant client praise and is involved across the full range of matters. Juan Pablo Palacios is also a key figure here, and associate Gabriela Torio provides robust support.
‘A highly integrated team with each other and prepared with the national and international reality to meet the needs of the client.’
‘Personalised service at all times. Expeditious and capable. Carlos Palacios, Raul Prono, Gabriela Torio, Julia Palacios and Leticia Prono stand out.’
‘Ability to provide legal support immediately and taking care of all related aspects; ability to synthesize and explain the alternative solutions provided.’
‘Extensive knowledge in the field and the ability to put this knowledge into practice.’
‘Dedication, qualification and knowledge.’
Altra Servicios Juridicos focuses its corporate law practice on advising foreign investors in incorporating their businesses in Paraguay, and in structuring operations to benefit from the country’s investment promotion laws. It is also reliable day-to-day counsel once businesses have settled in the jurisdiction. Multidisciplinary founding partner José Antonio Moreno Rodríguez co-leads the department with senior associate Lucia Cazal Zaldivar, who regularly advises international clients on infrastructure projects, M&A and contract drafting. Associate María Belén Moreno is a further key contact.
Lucía Cazal Zaldívar; José Antonio Moreno Rodríguez
Transporte Fluvial Paraguayo
International Chamber of Commerce (ICC) – Paraguayan Chapter
American School of Asunción
Colegio Japonés Paraguayo
Centro de Estudios de Derecho, Economía y Política (CEDEP)
- Advising Cervepar Group on a monthly basis on commercial matters, including the revision and drafting of agreements with local and international counterparts.
- Assisting Toyotoshi with the drafting, review and adaptation of a wide range of contracts, including the sale of vehicles, distribution contracts, leasing and commercial agreements.
- Advising Click on contract drafting, labour law issues, licensing and technologies, and local law compliance.
Parquet & Asociados has continued to develop its corporate law department, drawing on its leading expertise in public procurement to create a practice capable of assisting private companies from various sectors engaged in business with the Paraguayan state. The team has played a role in the recent boom in the real estate and infrastructure sectors, with incorporations, transactions and compliance all handled recently by the practice. The firm’s leader Javier Parquet Villagra is the primary contact, with associate Rocio Benitez bringing experience in buyouts, distressed company transactions, cross-border acquisitions and investment deals.
Javier Parquet Villagra
La Perseverancia Pedro Zuccolillo (La Perseverancia)
Spanish Chamber of Commerce, Industry and Services in Paraguay (Cámara Oficial Española de Comercio, Industria y Servicios en Paraguay)
Paraguayan Association of Meat Producers and Exporters (Asociación Paraguaya de Productores y Exportadores de Carne – Appec)
Compañia de Aviación Paraguaya (Paranair)
Terramico Resources Paraguay
Arkano Soft Paraguay
- Advising La Perseverancia on the construction of real estate development Distrito La Perseverancia in the heart of Asunción.
- Acting for Wega in the implementation of the company, construction of its industrial factory and commercialisation of airplanes.
- Advising Eteria on the construction of a building for over $5m.
Mersán Abogados approaches 80 years in the domestic law market, and through its stellar reputation in tax law it has developed a corporate law offering that supports clients on capital markets transactions, business incorporations, restructuring and regulatory compliance. Three lawyers oversee work in the department: Diego Zavala, who draws on international law expertise; Pablo Cheng Lu, the key contact for capital markets transactions; and Tomás Mersán, who has broad finance and corporate law knowledge.
Diego Zavala; Tomás Mersan; Pablo Cheng Lu
Banco Itaú Paraguay
Molinos Asunceno Alberto Helbrun
Frigorífico JBS Paraguay
Aseguradora del Este
International Finance Corporation (IFC)
Universidad Columbia del Paraguay
Pure Circle South America
Granja Avícola La Blanca
NB Casa de Bolsa
Banco do Brasil
Bolsa de Valores y Productos de Asunción (BVPASA)
United Nations (ONU)
Cámara Paraguaya de Exportadores de Cereales y Oleoginosas (Capeco)
Premix (Shagen Group-Holland)
Familia Scura Rivaldi (Company Don Vito)
Verbank Securities Casa de Bolsa
- Advised the family owners of Don Vito on the sale of the company’s stock to QSR and Palermo.