Corporate and M&A in Peru

Miranda & Amado

Corporate powerhouse Miranda & Amado has both the expertise and strength in depth to handle the country’s most demanding and high-value transactions, including sophisticated cross-border deals. The firm fields 26 full-time corporate and M&A lawyers -one of the market's largest teams- with clients appreciating their 'understanding of our business', 'excellent service' and 'precise advice'. Star partners include: practice head Luis Miranda, who led advice to Peruvian consumer goods company Alicorp on its $491m acquisition of household and personal hygiene products manufacturer Intradevco Industrial; Roberto MacLean, whose clients include Mitsubishi Corporation and its local subsidiary, which he represented in their $600m acquisition of a further  21.9% interest in Anglo American's Peruvian subsidiary, Quellaveco; and 'tough negotiator' Bruno Amiel, who led the team advising Chilean petrol-station owner COPEC's, Colombian subsidiary Terpel on its $715m acquisition of downstream assets from ExxonMobil. Other key partners of the practice include José Daniel Amado, Anahi Com and Nathalie Paredes. At associate level, the team is well served by a number of highly-qualified and experienced seniors, including Katherine Torres and María Pía Talavera, each with over 12 years' experience in this sector. Clients include Telefónica del Perú, Grupo Gloria and Grupo Romero Group (both within top-five Peruvian conglomerates by size), and private equity group TC Latin American Partners (Terranum).

Payet, Rey, Cauvi, Pérez Abogados

M&A is a core strength at Payet, Rey, Cauvi, Pérez Abogados, where department head José Antonio Payet is widely accepted as one of the most respected corporate lawyers in the country. He leads a consolidated team of nine partners and 32 associates, many of whom bring expertise in other areas of practice -such as environmental, real estate, banking and mining, for example-to the table; the partners  are highlighted for their 'shrewd negotiation' and industry knowledge. Key team figures include practice co-head Susan Castillo, name partner Juan José CauviJosé Cúneo and Alfredo Chan, who have all played key roles in major transactions this year. The team acts for a broad array of corproates, investment banks, private equity firms and large family groups, with new clients this year including Nexus Group, Graña y Montero (GyM) and Scotiabank. Recent mandates inlcude advising the latter on its $100m acquisition of a 51% stake in Banco Cencosud, a matter led by Castillo, who also represented GyM on the $42.3m sale of its shares in Inversiones en Autopistas to BCI Asset Management's Inversiones Concesion Vial.  In other highlights, José Antonio Payet and standout counsel Giovanna García  provided local advice to Swiss multinational ABB Group on its $2.6bn global acquisition of General Electric (GE) Industrial Solutions. InRetail Peru, part of Intercorp Group, is also a key client of the practice.

Rebaza, Alcázar & De Las Casas

Rebaza, Alcázar & De Las Casas has a long track-record of advising on big-ticket transactions, both domestic and international. Its focused team works full-time on M&A matters under the leadership of corporate specialist Alberto Rebaza and the highly experienced Felipe Boisset, but the firm also 'has a new generation of young partners that have been trained in New York law firms, who are qualified to handle complex transactions and are very dependable'. In particular, clients 'have the comfort that your back is being watched'. A lengthy deal list includes representing Cardinal Health on the Peruvian aspects on its $6.1bn global acquisition of the patient-care business of Medtronic, a mandate led by Alexandra Orbezo, who also heads up the venture capital practice. In another highlight, Rebaza, Boisset and head of mining Luis Miguel Elías worked alongside Shearman & Sterling LLP to advise Energía del Pacífico on the sale of its strategic stake in power generation companies Kallpa Generation (owner of Peru's largest power generation facility) and Samay I, to I Squared Capital subsidiary, Nautilus Inkia Energy. The team also includes Daniel Gonzales, a 'very skilled and deal-oriented junior partner' with a 'solid work ethic'; he acted for plastic producer Industrias Plásticas Reunidas on the multimillion-dollar sale of its plastic production-related assets to Wenco. Also highlighted are: Ricardo Cárdenas, who was made up to partner in September 2019; and experienced senior associates Lucia Ochoa and Fiorella Atoche - who both regularly act on the deal teams for leading transactions, as does Maria Fernanda Gadea, who worked on the Cardinal Health and Energía del Pacífico deals.

Rodrigo, Elías & Medrano – Abogados

'Arguably the market leaders', Rodrigo, Elías & Medrano – Abogados is a dominant force in high-end, complex transactions. Clients praise its sophisticated offering that is 'best in class for partner involvement', as well as its legal knowledge, responsiveness and communication. The firm is advising Sempra Energy on the Peruvian aspects of the proposed sale of its Peruvian and Chilean business units, including Luz del Sur - potentially the largest deal of 2019 in Peru. Leading the advice is the firm's head of M&A Jean Paul Chabaneix, who 'provides spectacular insight and service on a client's most challenging problems' and 'gets the deal done', and Jorge Trelles, who 'identifies the main needs of each in-house counsel', 'drafts particularly well' and is 'of essential assistance in negotiations'. Other deal highlights saw a team led by Eduardo López act as local counsel to Belmond on its $3.2bn acquisition by Louis Vuitton; while Trelles teamed-up with Luis Enrique Palacios to advise I Squared Capital on its $341m acquisition of a 25% stake in power generation companies Kallpa Generación and Samay I from Energía del Pacífico. Other key individuals in the practice group, one of the largest in the market, are: Luis Carlos Rodrigo Prado, a market leader in mining M&A; Ramón Vidurrizaga, who heads the general corporate practice; Sandro Fuentes and Alfonso Montoya. The team has also been strengthened with Augusto Cáceres' July-2019 elevation to the partnership; he focuses on M&A, corporate and project finace, venture capital and technology.

Estudio Echecopar member firm of Baker McKenzie International

Estudio Echecopar member firm of Baker McKenzie International is an obvious choice for global deals with a Peruvian component, its partners are described as 'among the top professionals in our country from a technical point of view', while practice head Liliana Espinosa is admitted to the New York Bar, providing added-value for US-governed transactions. Espinosa has a 'pro-business approach' and 'remarkable' negotiation skills; the team as a whole is knowledgeable, commercial and 'proactive in suggesting alternative solutions when a seeming deadlock presents itself'. Recent mandates saw the team act as local Peruvian counsel to the purchaser in a multibillion-dollar global acquisition in the hotel and tourism sector; and represent Ashmore Group on its $76.8m acquisition of an 88% equity interest in Stracon GyM. Ines Baca de la Piedra is another highly-rated practitioner; and the team also saw assoaciate level growth, with the arrival of experienced Kiomi Osorio from Creditcorp Capital and Uldarico Ossio , who returned following secondment to the firm's New York office. Former practice co-head and leading light Jorge Ossio has moved into an of counsel role but may be called on once more following the July 2019 announcement of Óscar Trelles' departure to head up the corporate practice at Cuatrecasas' new Lima office.


'Excellent firmGarrigues prides itself on offering small deal teams operating at the highest, international standards, with partners who are front-of-house on transactions. In Peru, clients note the local team's 'unique' industry knowledge and technical knowhow; indeed, practice co-heads Sergio Amiel and Oscar Arrús, together with José Francisco Meier and Thomas Thorndike, all draw praise for their expertise and commercial awareness. The practice group's depth was underlined by the recent -October 2019- raising of Diego Harman to the partnership; and a sizeable associate pool includes standout principal associate Héctor Zegarra and experienced senior associate Jorge Fuentes. Both Zegarra and Fuentes assisted Arrús with Alicorp's $300m cross-border acquisition of Bolivia's Industrias de Aceites (IASA) and Global Cassini; while Amiel represented Red Eléctrica Internacional (REI) on its $205m agreement with Bow Power Cobra to acquire the CCNCM electricity line and substations in northern Peru. New clients include Romero Group, Veolia and IFC.

Hernández & Cía. Abogados

Hernández & Cía. Abogados has grown strongly over the last 18-months but remains 'highly focused' and 'results orientated', earning the firm a growing market share of Peruvian domestic and international M&A. At the helm is leading individual Juan Luis Hernández, who is 'highly experienced' and 'provides timely, sharp and well-thought out guidance.' Assisted by fellow partners Diego Carrión and mining expert Luis Rodríguez-Mariátegui, Hernández fronts many of the key transactions, such as acting for major Peruvian conglomerate Grupo Gloria on the sale of its majority stake in ammonium nitrate producer Cachimayo, or Graña y Montero on its recent $42.5m capital increase. The department also advises the construction giant on all post-Lavo Jato corporate crisis-related matters - a reflection of the capability the practice has developed in the anti-corruption and compliance space. Also of note is the team's burgeoning private equity practice, where recent matters include acting for The Abraaj Group, as majority shareholder of Cinco Millas, in the latter's transfer of its 100% stake in Loy Sing, owner of a Chinese-Peruvian restaurant chain. Associate Julien Labory-Alicq  joined from Clifford Chance Paris. Since publication, Sandro Cogorno has been raised to the partnership, effective January 2020.

Muñiz, Olaya, Meléndez, Castro, Ono & Herrera Abogados

Muñiz, Olaya, Meléndez, Castro, Ono & Herrera Abogados fields the largest, dedicated corporate team in the market, providing 'very sophisticated advice on complex matters from lawyers with real world experience'. The ten partners and 19 associates, spread nationally at regional offices facilitating local due diligence, are 'really professional' and 'highly specialised by sector, even within the corporate department'. They are led by widely-respected Mauricio Olaya -'Peru's deal maker'- who has 'great business and legal judgment'. A bullish year of impressive deals saw the practice act for key client and major Coca-Cola bottler, Arca Continental, on its $506.8m acquisition of 38.52% of Lindley Corporation from Coca Cola Company subsidiary Peru Beverage Limitada; it also represented Graña y Montero on the $77m sale of a 87.6% stake in Stracon GyM to its CEO Stephen Dixon and UK investment manager Ashmore Group. Major domestic and regional clients include Romero Group, Familia Group and Backus. Other lead advisers include Jorge Muñiz, who is 'accurate and responsible', and 'exceptional person' Juan Carlos Vélez, while names to note from the sizeable associate bench include Wilfredo Cáceres  and Beatriz Melo .

Philippi Prietocarrizosa Ferrero DU & Uria

One of the few pan-Latin American firms in the market, multi-jurisidictional project Philippi Prietocarrizosa Ferrero DU & Uria is increasingly operating as the single firm originally envisaged. Like its counterparts in Santiago and Bogotá, the Peruvian office advises on big-ticket, cross border transactions, and provides clients with the 'right balance between corporate and local needs'. Advice is 'fast and secure' and the team is 'flexible in understanding customer needs'. Recent mandates saw practice co-head Rafael Boisset lead advice to Intradevco Industrial on its $490m sale to Alicorp. Boisset 'stands outs as a person and a professional', as does principal associate Raúl Vizcarra. Other significant highlights included representing Cosco Shipping Ports on the $225m acquisition of a 60% stake in Terminales Portuarios Chancay from Volcan Compañía Minera. Other key members of the department include: practice co-head Guillermo Ferrero, praised for his 'deep understanding of legal aspects, negotiating skills and commitment to clients'; 'well-trained lawyer' Rafael Puiggros; and Viviana García, who heads the firm's Chinese investment-focused Asia desk.

CMS Grau

CMS Grau has enjoyed an ongoing uptick in transactions, the result of multiple client gains and an ongoing strategy of lateral hiring. This year the team was boosted by the hire of Diego Peschiera from Rodrigo, Elías & Medrano – Abogados, who brings finance expertise to the corporate practice, and the promotion of Miguel Viale to partner. Petroperú, Repsol and Acumen LatAm Capital Partners are just some of the new clients of a firm that has, increasingly, developed a 'fully complemented team of professionals in different areas that are ready to provide timely and effective solutions for complex transactions'. Practice head Juan Carlos Escudero led advice to Empresa Editora El Comercio on the indirect sale of 80% of its controlling interest in private higher-education institute Avansys to Laureate (value $60m). The firm is also cultivating a compliance practice under the direction of experienced associate Carolina Cueva, specialising in the prevention and management of corruption-related risks, both public and private. Sergio Oquendo left the firm to return to Muñiz, Olaya, Meléndez, Castro, Ono & Herrera Abogados in March 2020.

DLA Piper Perú

DLA Piper Peru handles a steady stream of mid-market deals alongside some high-value, cross border transactions for household-name companies. The practice enhanced its offering at partner level by promoting Janilú Badiola  at the start of 2019.; she led advice to Renting Colombia and Inversiones CFNS  on the acquisition by Renta Equipos Leasing Perú of 100% of the shares of Operative Lease CIB; and together with fellow partner Luis Vargas, acted for General Electric International on establishing a new branch in Peru as part of its international corporate restructuring, and on the transfer of various assets and liabilities for the development of its transportation business. Vargas also represented The Carlyle Group on the Peruvian aspects of its acquisition of entities of the Roer Technology Group throughout Latin America and the US. Fernando Lanfranco makes up the practice group's partner trio.

Lazo, De Romaña Abogados

Lazo & De Romaña Abogados fields a 'good team' of 'excellent lawyers' where 'the partners take direct action'. Comprised of two partners and five associates, the practice attracts some quality deals and clients, such as acting for Guatemalan agrochemical company Duwest on its first venture in Peru, the $20m acquisition of Drokasa Perú's agrochemical business; the advice was led by practice co-head Victor Lazo, who is 'very engaging and knowledgeable'. He also led advice to Esmetal on its corporate reorganisation and merger with Imecon, creating the one of the largest companies in the metallurgist sector with a net worth of $34m. Firm managing partner Jorge Lazo also co-heads the practice and provides everyday corporate advice to Nessus Hoteles Perú and Impala Terminals Peru, for example, while other clients of the practice include Cemex Perú, Lind Corp and client gain Marcobre.

Estudio Olaechea

Estudio Olaechea has a 'deep and broad knowledge across a range of topics', is 'creative and thorough' and delivers 'excellent service and availability'. Demonstrating the growing international nature of the practice, the firm landed a number of impressive -primarily foreign- client gains over the past year, such as Akzo Nobel, Viacom, Saint Gobain and Trip Advisor. Transactions included working alongside Willkie Farr & Gallagher LLP as Peruvian counsel to Excellence Logging Limited (EXLOG) on its $50m acquisition of the surface data logging business of Weatherford International, and acting for plastic company Ravago on its $15m acquisition of plastic resins company Dispercol. The practice's five multidisciplinary partners include: senior partner José Antonio Honda who is 'dependable for his timely response, diligence, and creativity'; Martín Serkovic, a 'proactive leader' who has 'wide experience on diverse market sectors, always providing efficient solutions for each one of them'; and Carlo Viacava , who is experienced in private equity deals. Mariela Angeles and recent hire Joanna Dawson are notable senior associates.

Rubio Leguía Normand

Rubio Leguía Normand continued its ongoing growth with the hire of new partners Jeanette Aliaga  from Philippi Prietocarrizosa Ferrero DU & Uria, and Claudia Chong from Berninzon & Benavides Abogados, plus three new associates including senior Diego Chavez  from an in-house role. Aliaga now co-leads the practice alongside 'well-known figure' Carlos Arata . Clients -who range from significant domestic entities to well-known global corporations- report that the team is 'always willing to help, even if the problem is not included in their scope of work'. Noteworthy transactions during the past year -which saw the team particularly busy in the mining sector- included acting for Anglo American Quellaveco in respect of capital increases made by Quellaveco's fellow shareholder MCQ Copper; and representing Newmont Mining Corp on the $48m sale of a 5% stake in the Yanacocha mine to Sumitomo Corporation.


With associated offices across the four countries of the Pacific Alliance, BBGS Abogados is another new entrant to our ranking, based upon proven expertise in some high-profile instructions. Recent matters include acting for Banco de Crédito del Perú in Alicorp's $490m acquisition of Tecnología Aplicada, and advising the Sao Paulo Stock Exchange (BOVESPA) on its acquisition of 8.59% of the stock of the Lima Stock Exchange. Other clients given transactional advise during the past year include Financiera TFC and Interseguro Compañía de Seguros. Experienced partners Carlos Saco-Vertiz and Eduardo Landerer lead the small local team.

CPB Abogados

Joining the ranking this year, CPB Abogados has a proven track record in the corporate arena, where clients highlight the firm's 'professionalism', 'accessibility of the partners', 'dedication to clients' needs' and ability to 'perform very well when dealing with complex matters'. It acted for Stephen Dixon on his acquisition, along with investment manager Ashmore Group, of an 88% equity interest in Stracon GyM for $76.8m. The practice's three partners -Luis Mejia, firm managing partner Germán Carrera and Milagros Gomez-Sánchez C- rose to five this year with the promotion of Eva Figueroa and Giuseppe Manini.

Dentons Peru

Dentons Peru is a 'uniquely accessible and friendly firm' with a 'high-performance team' that is 'very knowledgeable and competent'. In particular, lawyers are 'quick and to-the-point' and 'deliver precise results with accuracy and desired results'. An enviable client base includes Amazon, BP, Disney and Backus, while recent instructions include acting as Peruvian counsel to French dairy corporation Lactalis Group on its $860m acquisition of the global infant nutrition business of Aspen Pharmacare. It also advised leading Latin American plastics manufacturer Wenco on its expansion in Peru, including the multimillion-dollar acquisition of Duraplast. Julio GalloManuel Barrios  and Sandra Lorca co-lead the practice and 'go beyond what is strictly required of them'.

Martinot Abogados

With 'high ethics and a great service', 'competent' boutique Martinot Abogados is best known for its regulatory expertise, but advises on all aspects of M&A and general corporate matters, including governance, for both national and international clients. An extensive client list includes Southern Peaks Mining, Pure Biofuels del Perú, Colombia's DOA Group and Scotiabank; the team has advised the latter three on transactions during the past year. Other recent deals handled by the six-strong group include acting for energy company Picorp on the $8.3m spin-off of two of the group's companies, and representing agri-export company Inversiones Andinas on the $4.5m transfer of 100% of its shares in favour of Olam Agro Perú. The team's three partners, namely Fernando Martinot , Jorge Zuñiga and Yanira Becerra jointly co-lead the practice.