Mr Cristóbal Larraín > Baker McKenzie Chile > Santiago, Chile > Lawyer Profile

Baker McKenzie Chile


Partner in the Firm’s Santiago office.


He advises local and international clients in connection with corporate affairs and public and private M&A transactions, including tender offers, auction processes, joint ventures, private equity investments, and corporate restructuring.

Practice Focus:

Cristóbal focuses his practice mainly on corporate matters, mergers and acquisitions, capital markets, private equity, banking and finance, and projects, advising Chilean and foreign clients from a variety of industries.

Representative Legal Matters:

  • Advised Mizuho and a syndicate of 18 international banks in a USD 110 million unsecured syndicated credit agreement rollover to BCI.
  • Advised Banco Security in a USD 13.7 million VAT loan to Scania Suministradora de Flota Uno SpA to finance the VAT derived from the purchase of electric buses for the Santiago Public Transportation System.
  • Advised Banco Security in a USD 13 million VAT loan to Administradora CK SpA, an SPV formed by Kaufmann and Copec, to finance the VAT derived from the purchase of electric buses and chargers for the Santiago Public Transportation System.
  • Advised Unilever Chile on the sale of the ice cream business to Empresas Carozzi S.A.
  • Advised Banco Bilbao Vizcaya Argentaria S.A. (BBVA) in a two tranche credit agreement of up to USD 200 million, guaranteed by a multilateral agency, to Caja de Ahorros, a Panamanian autonomous public entity, for the provision of working capital loans to small and medium enterprises, corporates and domestic banks to assist in the Government of Panama’s economic response to COVID-19 pandemic.
  • Advised Banco Bilbao Vizcaya Argentaria S.A., New York Branch on a USD 25 million senior secured loan agreement to Winnfield Investments LLC, part of the Uruguayan Otegui Group, to finance its capital contributions to UPM, a Uruguayan cellulose production company, and its affiliates.
  • Advised the consortium Grupo Vía Central, comprised of Sacyr, NGE, Saceem and Berkes, in the development, construction and finance (including senior and subordinated facilities) of a USD 1.1 billion railway project consisting in 273 km of rail lines in the corridor that will link the country’s capital Montevideo with Paso de los Toros, the largest PPP in Uruguayan history (IJ Global Infrastructure-Rail Deal Of the Year 2019; Latin Lawyer Project Finance-Infrastructure Deal of the Year 2019).
  • Advised Orion Resources Partners (USA) LP and Audley Capital Advisors LLP, on the agreement to sell a 30% stake of Mantoverde copper mine to Mitsubishi Materials Corporation in a USD 283 million deal.
  • Advised Jeronimo Martins in two subsequent loans for USD 93 million and USD 95 million with IFC for the expansion of its ARA supermarkets operations in Colombia.
  • Advised Natixis and coordinated a global project to conduct a world-wide analysis, including 31 different jurisdictions, which purported to ensure compliance by Natixis with relevant financial regulations in markets where the bank markets and/or enters into transactions related to financial products.
  • Advised Mizuho and BTMU and a syndicate of 20 international banks in a USD 125 million unsecured syndicated credit agreement rollover to BCI.
  • Advised Energía Renovable de la Península S.A.P.I. de C.V., a project company owned by BOW Power, Envision and Vive Energía, as borrower on the financing of a USD 110 million wind project in Yucatan, Mexico, with Natixis, New York Branch and Crédit Agricole Corporate & Investment Bank.
  • Advised a Mexican agro-industrial company in a USD 55 million loan with a multilateral credit institution to refinance its corporate debt.
  • Advised Securitizadora Security S.A. with the structuring and issuance of a line of securitized bonds for USD 123 million.
  • Advised Rockwood Lithium with the expansion of its La Negra plant in the Atacama Salt.
  • Advised LafargeHolcim in its USD 116 million sale of Cemento Polpaico, a Chilean publicly listed company.
  • Advised Credicorp Capital Asset Management S.A. Administradora General de Fondos in (i) a joint venture with Greystar Real Estate for the acquisition, development, construction and management of residential projects; (ii) the incorporation and structuring of a public fund for these purposes; (iii) the USD 35 million acquisition of a 12,000 sq. meters land for a residential project; and (iv) the negotiation and subscription of all agreements necessary for the development, construction and management of the residential project.
  • Advised a US telecoms company in the acquisition of a Chilean telecom company conducted through an auction process.
  • Advised Banco Security in the USD 51 million acquisition of Penta Administradora General de Fondos and Penta Corredores de Bolsa and in their immediate merger into Banco Security subsidiaries.
  • Advised ED&F Man in connection with simultaneous tender offers for the acquisition of Empresas Iansa S.A. and Sociedad de Inversiones Campos Chilenos S.A. (both Chilean listed companies).
  • Advised Walgreens Boots Alliance in its acquisition of Farmacias Ahumada by means of a public tender offer with approximate value of USD 638 million.
  • Advised Farmacias Ahumada S.A. in its reorganization, bonds prepayment and delisting process.
  • Advised Cencosud on the issuance of an international series bond as part of a dual tranche offering valuing USD 1 billion, and on the issuance of a local line of bonds valuing USD 380 million. In addition, advised on the bond prepayment process and the inscription of a new line of bonds.
  • Advised Grupo Security in its acquisition of the Grupo Cruz del Sur companies, which included an insurance company, a funds management entity, and a securities broker, among others.

Related Expertise:


Spanish - English


  • University of Chicago Law School (LLM) (2018)
  • Pontificia University Catolica de Chile (LLB) (2012)

Lawyer Rankings

Chile > Banking and finance

(Rising stars)

Cristóbal Larrain – Baker McKenzie Chile

Baker McKenzie Chile‘s nine-strong multi-disciplinary group is experienced in structuring, negotiating and documenting a broad range of banking, financing and capital markets deals. Its expertise ranges from project finance, corporate loans and refinancing, to acquisition finance, derivatives, securitisations and regulatory advice. The practice’s key figures are Sebastián Vivanco, whose track record includes project finance transactions, including syndicated loan agreements and local security packages; of counsel León Larrain, an expert in telecoms, securities and real estate projects; and corporate finance and securitisation specialist Jaime Munro. Within the firm’s associate ranks, senior Cristóbal Larrain regularly works with the firm’s New York team on corporate and project financings across the Lat Am region; and Jose Ignacio Berner acts for Chilean and international companies on banking and finance matters.

Chile > Capital markets

Acting for financial institutions, issuers, managers and other capital markets-related providers, Baker McKenzie Chile‘s seven-member capital markets department is experienced in tender offer mandates, corporate debt placements and securitisations. It also regularly assists with the regulatory aspects of Chilean securities. The team is jointly led by securities law expert Fernando Castro and Jaime Munro, whose transactional workload encompasses capital markets matters. The practice of associate to note Cristóbal Larrain includes experience in tender offers.

Chile > Corporate and M&A

Acting for both domestic and international clients, Baker McKenzie Chile has over 40 years’ experience in advising on cross-border deals involving Chile – including M&A, joint ventures, and other commercial transactions. During the course of the last year the sizeable practice group has been particularly active in both investment fund structuring and M&A transactions involving substantial industrial and residential real estate components. The teams’ recent track record also includes mandates involving the insurance and finance sectors, as well as ongoing advice to clients from the natural resources, telecoms, energy, technology and consumer products sectors. The practice is co-led by Jaime Munro and Fernando Castro, who ‘do a great job‘; while Diego Ferrada is highly experienced in M&A, including stock and asset transactions, and Sebastian Vivanco‘s broad practice also includes M&A work. At of counsel level, Leon Larrain has over 30 years’ experience in transactional matters. Associates Verónica Barrios, Macarena SalazarCristobal Larrain and Martin Müller are all also active on corporate issues.