Posadas > Montevideo, Uruguay > Firm Profile
Posadas Offices
RUTA 8, KM 17500, OF 115
CP 91600, ZONAMERICA
MONTEVIDEO
Uruguay
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Posadas > The Legal 500 Rankings
Uruguay > Banking and finance Tier 2
The sizeable banking and finance team at Posadas excels at project financings in the energy and infrastructure sector, as well as asset finance deals, in which it acts for lenders and borrowers. It counts many domestic and international banks as well as fintech companies amongst its client base. Recent highlights include a complex cross-border transaction involving Global Infrastructure Partners, and a significant renewable energy deal. Tomas Gurméndez co-leads the practice and has significant expertise in the financing of energy and infrastructure projects and cross-border deals involving sophisticated collateral structures. Alongside him in leading the team, regulatory banking department head Andrés Aznárez has notable experience providing advice to banks, investment firms, brokers and fintech companies. Victoria Garabato has been active in almost all the major project finance matters handled by the firm in recent years, and Martina Reyes is the name to note at associate level.Practice head(s):
Tomas Gurméndez; Andrés Aznárez
Testimonials
‘Flexibility to adapt to the needs of the client.’
‘Warmth and professionalism distinguish this team.’
‘Andrés Aznárez provides comprehensive advice in a fast and effective manner.’
Key clients
Global Infrastructure Partners
Inter-American Development Bank (IDB)
Inter-American Investment Corporation (IIC)
Banco Santander España
Banco BBVA
Banco República Oriental del Uruguay
Sumitomo Mitsui Banking Corp.
BNP Paribas
Conaprole
Patria Investments
Mastercard
Compass Group
Lombard Odier Uruguay
Societe Generale
Mandazy
Transfero
Grupo Financiero Galicia
Zuma Advisors
Work highlights
- Advised Global Infrastructure Partners on a green loan credit agreement with BNP Paribas, SMBC and the Bank of Nova Scotia for the acquisition of Atlas Renewable Energy.
- Advised Inter-American Development Bank, Banco Santander, and Banco de la República Oriental del Uruguay as senior lenders on the financing of a PPP highway project.
- Acted for SMBC on the refinancing of an existing project finance deal for two wind farms owned by Spanish developer Smartener.
Uruguay > Corporate and M&A Tier 2
Posadas houses a strong practice that specialises in local and cross-border M&A transactions, joint ventures and corporate governance matters. The sizable team is praised as ‘committed, proactive and efficient’, as well as ‘knowledgeable and hard working’. Investment funds and corporations from the agribusiness, forestry, automotive, construction and tech sectors are mainstays on its client roster. Recent additions of major new clients have come in the energy and food and drink sectors. A trio of partners lead the group: Fernando de Posadas has significant M&A experience; Tomas Gurméndez assists corporations with cross-border M&A transactions and corporate governance matters; and tax and real estate expert Eduardo Ferrari completes the leadership team. Martina Reyes is noted for her expertise in M&A, banking and foreign investment matters. Tomás Guerrero adds M&A and commercial agreements experience, and the 'technically gifted' Gerardo Caffera and Lucía Carbajal, and 'great negotiator' Andrés Aznárez, are additional key contacts.Practice head(s):
Fernando de Posadas; Eduardo Ferrari; Tomas Gurméndez
Testimonials
‘I would like to highlight the availability of the partners.’
‘The partners have great technical skill and are open to dialogue.’
‘Committed, proactive and efficient team.’
‘Lucía Carbajal and Gerardo Caffera are technically gifted professionals.’
‘Very knowledgeable, efficient and with a very fast turnaround.’
‘Andrés Aznárez is a particularly great negotiator.’
‘They have in-depth expertise in many specific areas not common to find and that companies need, for example, customs law, and maritime assets and law.’
‘We appreciate both their professionalism and approachability.’
Key clients
Patria Investments
Global Infrastructure Partners (GIP)
Terna
iPlace
Tyson Foods
Pantalla Uruguay
Lumin
Conaprole
Cubico Sustainable Investments
AB Inbev
Ford Motors
Mega Pharma
Tienda Inglesa
Montes del Plata
Bookaway
Advent International
Cargill
Julio Cesar Lestido
Work highlights
- Advised GIP on its acquisition of Atlas Renewable Energy, a clean energy platform focused on developing, building, and operating solar and wind projects in Latin America.
- Assisted Italian electricity conglomerate Terna with its sale to Caisse de Dépôt et Placement du Québec (CDPQ).
- Advised Patria Investments on its merger with Chilean company Moneda Asset Management.
Uruguay > Dispute resolution Tier 2
Posadas houses a ‘solid and dedicated’ team in the dispute resolution arena that is known for its work in civil, commercial, and administrative litigation and class action lawsuits, with additional experience in arbitration and mediation. Luis Nin Estévez co-leads the department and has ample experience in civil and administrative litigation, having represented local and international clients in an array of industries across his 35-year career. Clients signal co-head Valeria Techera as a ‘professional’ who ensures that the client-attorney relationship is ‘fluid’; she defends the interests of public companies and multinationals operating in Uruguay in commercial litigation. Of the pool of non-partner lawyers dedicated to dispute resolution, three senior associates stand out for special mention. Nicolas Pallas, who focuses on civil litigation and the drafting of legal agreements, and Virginia Yellinek and Emiliano Opertti, who support on civil and commercial litigation.Practice head(s):
Luis Nin Estevez; Valeria Techera
Testimonials
‘The team is solid and committed to its objectives.’
‘Valeria Techera handles issues professionally and fosters a fluid relationship with the client.’
‘Strong attention to detail, collaboration and experience in the resolution of disputes both in and out of court, as well as arbitration.‘
Key clients
Liga Uruguaya de Futbol Profesional (Lufpro)
Cubico Sustainable Investments
Conaprole
Asociación Española Primera de Socorros Mutuos
Owners of the Icon Tower Brava building
CHS
CIEMSA
Intendencia Municipal de Maldonado
Gas Sayago
Caterpillar Leasing Chile
La Buonora & Asociados
Pedidos Ya
Work highlights
- Represented Lufpro in the proceeding over the approval of bylaws to become an association before the Administrative Court.
- Assisted Cubico Sustainable Investments with lawsuits filed by local government and landowners relating to three wind farm projects.
- Represented Conaprole against Venezuelan state-owned company Corpovex and the State of Venezuela in a $30m dispute over non-paid exports.
Uruguay > Labour and employment Tier 2
The practice at Posadas assists with labour due diligence, terminations and reorganisations, the negotiation of collective bargaining agreements and the management of relationships with trade unions. In addition, the team is skilled at drafting employment contracts and benefits packages, overseeing hiring processes and handling immigration and social security issues. Clients include domestic companies and foreign multinationals that work in retail, aviation, manufacturing, technology and logistics. Non-contentious advisory work is the specialism of practice head Mariana Fernández, and senior counsel Alejandro Castello negotiates employment conditions and manages relationships with unions. At senior associate level, Gonzalo Gari and Maria Florencia Novaretto handle litigation and assist with collective bargaining negotiations.Practice head(s):
Mariana Fernández
Testimonials
‘The level of service and attention to the client’s needs stands out above many other legal services that I have had with other companies.’
‘They are always attentive to our needs, and with a knowledge of what they are talking about that makes it a pleasure to listen to them.’
‘It is a very good firm, with quick responses and adapted to the reality of the business.’
‘They have long-standing knowledge of the internal operations of our company, and are flexible to provide advice that adapts to the reality and need of the business. Among the labor team, I would highlight Mariana Fernández, always up-to-date on labor matters and aware of regulatory and jurisprudential developments.’
‘The firm’s lawyers stand out both for their technical and human qualities. The predisposition to evacuate any query is total. Mariana Fernández and Alejandro Castello are the ones who provide us with the service.’
Key clients
Aerolineas Argentinas
Ford Uruguay
Frog Stores
Tramontina Comercialización y Representaciones Uruguay
Cargill Uruguay
Pedidos Ya
Situal
Huawei Technologies
Axionlog Uruguay
Work highlights
- Represented Aerolineas Argentinas in 15 judicial claims brought against former employees of the former handling service company Sofivial.
- Advised Ford on the installation of its office in Uruguay.
- Assisted Tramontina with labour and social security matters pertaining to its installation in Uruguay.
Uruguay > Projects and energy Tier 2
The practice at Posadas is well-versed in conventional and renewable energy projects, as well as in transport infrastructure projects such as highways, railways and ports. Acting for lenders or sponsors in both project finance and development, the team has handled some of Uruguay’s largest FDI projects on behalf on major energy and infrastructure companies, including multinational corporations and state-owned entities. Recent standout projects work has included advising on the financing of a PPP Highway Project in central Uruguay; in the energy sector, the firm recently advised Cubico Sustainable Investments on the acquisition of two major Uruguayan wind farms. Infrastructure and energy project financing expert Tomas Gurméndez co-heads the practice, bringing particular experience in PPPs to the table; alongside him, Fernando De Posadas handles foreign direct investments in energy and infrastructure projects. Lucía Carbajal and Victoria Garabato, partner as of January 2022, participate in high-profile FDI and energy projects.Practice head(s):
Tomas Gurméndez
Key clients
Inter-American Development Bank (IDB)
Banco de la República Oriental del Uruguay
Banco Santander
Administración Nacional de Usinas y Trasmisiones Eléctricas (UTE)
República Administradora de Fondos de Inversión
Cubico Sustainable Investments
Banco BBVA
Terna
Banco BTG Pactual
Sumitomo Mitsui Banking Corporation
Hitachi
Goldwind (Loma Blanca)
Terminal de Graneles Montevideo
Global Infrastructure Partners
Corporación Andina de Fomento (CAF)
Inter-American Investment Corporation (IIC)
Brookfield Renewables
Votorantim Group
Work highlights
- Advised a consortium of banks as lenders on the financing of the Circuito 5 PPP highway project.
- Advised BBVA, IDB Invest and Banco de la Republica Oriental del Uruguay on the financing of PPP Highway Project Circuito 6.
- Assisted Cubico Sustainable Investments with the acquisition of two wind farms in Uruguay.
Uruguay > Real estate Tier 2
Posadas houses a strong real estate department that ‘combines tradition with sophistication and international experience’. The group advises developers and investors on urban and rural real estate mandates, with particular expertise in the structuring of real estate projects and the implementation of REITs. Notary public Federico Peñasco heads up the practice and focuses on the structuring of trusts and restructuring of liabilities, sales, and acquisitions. Notary Florencia Larraburu left the practice in October 2022, and former practice co-head Eduardo Ferrari departed in June 2023.Practice head(s):
Federico Peñasco
Testimonials
‘The partners at Posadas are always highly involved in the work.’
‘The practice combines tradition with sophistication and international experience.’
Key clients
La Buonora y Asociados
Greenwood Resources
Montes del Plata
JHSF
Celtevik
Cosmena
Berkes Construcciones y Montajes
Delivery Hero – Pedidos Ya
Municipality of Maldonado
Gomez-Zorrilla Desarrollos
Lumin
Work highlights
- Advised La Buonora y Asociados Desarrollos on the structuring of the Huertas Barrios residential real estate project.
- Assisted Celtevik with the land purchase and structuring of a residential real estate project in Manantiales.
- Advised JHSF on the sale of real estate lots in a residential community in San Carlos, Maldonado.
Uruguay > Tax Tier 3
The focus of the practice at Posadas is centred on the provision of domestic and international tax advisory services and litigation. It regularly assists corporations from the food and drink, finance and automotive sectors, and has substantial experience advising families and private individuals. Practice co-head Raúl Vairo advises local and international clients on new ventures in the free trade zone and the rest of Uruguay; he leads the group alongside accountant Daniel Gonzalez. Partner Matías Rachetti advises high net worth individuals and families on tax and corporate matters. Previous practice co-head Eduardo Ferrari departed in June 2023.Practice head(s):
Raúl Vairo
Key clients
Patria Investments LATAM
AB InBev
Administración Nacional De Usinas Y Trasmisiones Eléctricas (UTE)
LUMIN
DO Investment
La Buonora Desarrollos
Greenwood Resources
Folium
Cosmena
iPlace
Roemmers/Mega Pharma
Bonprole Industrias Lácteas
Gomez Zorrilla Desarrollos
Tyson Foods
Ford Uruguay
Work highlights
- Advised Patria Investments on the tax implications of its merger with Moneda Asset Management.
- Assisted AB InBev’s Uruguayan subsidiaries with day-to-day tax counsel.
- Advised La Buonora Desarrollos on the tax implications of a real estate project in Ciudad de la Costa, Canelones department.
Posadas > Firm Profile
With more than 95 years of history, Posadas, Posadas & Vecino (PPV) is one of the largest and most prestigious full-service firms in Uruguay. Since its foundation in 1926, the firm has had an international perspective, being the first Uruguayan firm to open branches within the country (Zonamerica and Punta del Este) and in Europe.
PPV’s leading position is built on its ability to support clients in highly complex business transactions, advising multinational corporations, financial institutions and local companies in a broad range of practice areas. The firm prides itself on keeping its tradition in the practice of law, providing personal attention to clients with great involvement from all partners in the cases handled. PPV’s professionals are highly specialized, most of them having studied abroad or worked for international firms.
Main areas of practice
Banking and finance: PPV represents some of the major multinational banks operating in Uruguay, having participated in most major banking and financing transactions, including syndicated lending, structured finance and project finance. The firm represents multilateral institutions in their lending activity in Uruguay and also counsels many representative offices of foreign banks and international brokerage firms doing business in Uruguay.
Corporate and M&A: the firm has a well-established and highly reputed corporate and M&A team, which has handled some of the most relevant transactions in recent years in a wide range of industries. It also assists local and foreign clients with regular commercial and corporate advice.
Dispute resolution: PPV has sound experience in litigation, handling civil and commercial litigation, insolvency, reorganization and bankruptcy matters, and administrative proceedings. PPV also advises clients in local and international arbitration cases, some members also having participated as arbitrators and expert witnesses. It has vast experience in class action disputes involving a considerable number of plaintiffs.
Energy and natural resources: in recent years, PPV has participated in a large number of relevant energy matters, including renewable energy projects (wind, solar and biomass sources), mining, and oil and gas, representing both developers and financing institutions. The firm has considerable experience in public biddings launched by the Uruguayan national electricity company.
Labor: the labor team advises on individual and collective matters related to employment and social security law, including handling trade union relations and collective bargaining agreements.
Tax and accounting: the firm has traditionally been very strong in assisting foreign clients, both personal and corporate, in tax and accounting matters. The firm’s tax and accounting team has grown considerably and branched out into more specialized activities, such as back office services for foreign entities.
Real estate: PPV has a strong real estate practice, representing developers and investors in different types of transactions including social housing, leisure, tourism, rental offices and urban construction. The firm has broad experience in structuring real estate agribusiness transactions, such as forestry and agriculture.
International work: in recent years PPV has been involved in a large number of deals, including M&A, bond issues, cross-border lendings, project financing, leisure, mining, agricultural, forestry, energy and telecommunications.
Main Contacts
Department | Name | Telephone | |
---|---|---|---|
Managing partners | Tomás Guerrero | ||
Managing partners | Francisco Obes | ||
Managing partners | Fernando de Posadas | ||
Banking and finance | Tomás Gurméndez | ||
Corporate and M&A | Fernando de Posadas | ||
Corporate and M&A | Tomás Guerrero | ||
Corporate and M&A | Tomás Gurméndez | ||
Dispute resolution | Luis Nin | ||
Energy, natural resources | Fernando de Posadas | ||
Energy, natural resources | Tomás Gurmendez | ||
Labor | Luis Nin | ||
Labor | Gonzalo Gari | ||
Tax and accounting | Daniel González | ||
Tax and accounting | Raúl Vairo | ||
Dispute Resolution | Valeria Techera | ||
Labor | Mariana Fernandez |
Lawyer Profiles
Photo | Name | Position | Profile |
---|---|---|---|
Mr Fernando De Posadas | Partner. Has significant experience in Corporate and Commercial Law becoming one of… | View Profile | |
Mr Gonzalo Gari | Attorney at Law. Renowned international publications such as Chambers & Partners have… | View Profile | |
Mr Tomás Guerrero Costa | Civil, Corporate and Tax Law. Wide experience in mergers and acquisitions processes,… | View Profile | |
Mr Tomas Gurméndez | Partner. Mr. Gurméndez works in the Area of Corporate Law, highly specialized… | View Profile | |
Mr Luis Nin Estévez | Partner. Mr. Nin heads the Litigation and Legal Consultancy Departments. | View Profile | |
Mr Pablo Sequeira | Partner and Board Member. Corporate and Financial Law, and in Capital Markets… | View Profile |