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Claudio Lizana

Work +56 2 2928 2207

Work Department

Mergers and Acquisitions / Antitrust and Regulated Markets


Partner of Carey and co-head of the firm’s Corporate / Mergers & Acquisitions, Antitrust and Regulated Markets Group.


His practice focuses on antitrust regulation, merger control, commercial law, merger and acquisitions, securities, corporate and business law.

Recognized in Competition and Antitrust, Chambers Latin America.
Recognized in Antitrust and Competition and in Corporate and M&A, Latin Lawyer 250.
Recognized in Competition and Antitrust, Legal 500.
Recognized in Antitrust, LACCA.
Recognized in Competition, Who’s Who Legal.
Recognized in Competition and Antitrust and Corporate and M&A, Best Lawyers.

Co-author of the Chilean chapter, Overview of Competition Law in Latin America, IBRAC (2016).
Co-author of the Chilean chapter of Merger Control, Getting The Deal Through (2012-2016).
Co-author of the book "Dumping and Disloyal International Competition" (1995).

Frequent lecturer in seminars and conferences in Chile and abroad.


Spanish and English.


Professor of Economic Law, Universidad de Chile (2013-2014).
Member of the Antitrust Committee, Chilean Bar Association.
Member of the Chilean Bar Association.
Member of the Board of Directors of K+S Chile (previously Sociedad Punta de Lobos) and Empremar.


Law, Universidad de Chile.
LL.M., Harvard University (1993).
Course "Politics of Global Finance", London School of Economics and Political Science (1993).


Competition and antitrust

Within: Leading individuals

Claudio Lizana - Carey

Within: Competition and antitrust

Now 23-strong (including a senior economist), Carey's antitrust group is 'young and energetic, very practical and clearly well respected by peers and by the authorities; it is used to working with multinational clients and adapts well to the styles and preferences of clients'. The practice advises on all aspects of antitrust law, including merger control, collusion, abuse of dominant position and compliance. It also has extensive experience representing both domestic and international clients in litigation before the Antitrust Court (TDLC) and the Supreme Court, as well as in investigations undertaken by the National Economic Prosecutor (FNE). In an ongoing mandate, Lorena Pavic ('extremely hardworking and committed to cases') is leading the team defending Cencosud (and two other supermarkets) against a chicken resale-price collusion lawsuit brought by FNE after what was reportedly the largest investigation the prosecutor's office had ever undertaken. Pavic also successfully defended the same client in a TDLC claim filed by a Chilean consumer association; a leading case, it is now on appeal at the Supreme Court which will have to decide whether the acquisition of "naked assets" constitutes a concentration, a ruling that will in turn impact upon the country's June 2017-enacted merger-control legislation. In what was one of the first cases under Chile's new mandatory regime, Claudio Lizana acted for Minerva Foods in a merger-control notification concerning the $300m acquisition of three beef companies from JBS; he also advised the client in what was the first-ever "gun-jumping" case in Chile (now settled). Partner-level support on the contentious-side comes from co-head of the firm's Judicial Group, litigator Juan Carlos Riesco who has considerable experience in contentious competition matters. The practice can also count on a core group of experienced associates, notably Francisca Levin , José Pardo, Camila Albornoz, Camilo Lledó , María José Villalón  and Carolina Veas. Other significant clients include Bayer, Oracle, Enel Distribución Chile, The Walt Disney Company and Mastercard.

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Corporate and M&A

Within: Corporate and M&A

Highly rated in the market for structuring M&A deals, Carey is 'a full-service firm with well-trained lawyers, who are highly responsive, experienced, connected and practical'. Its expertise includes takeovers through public offerings, minority share purchases, acquisitions of companies or asset packages, private equity transactions, and company and asset purchases during insolvency or reorganisation scenarios. Recent areas of growth for the practice include venture-capital deals, including equity investments and buyouts of local start-ups by foreign companies, while the compliance practice is highly rated for advising on risk prevention and mitigation. The active client list includes MetLife, Danaher, UnitedHealth, Scotiabank, Brookfield and Enel. In a deal involving several jurisdictions (and in a heavily regulated sector), Pablo Iacobelli, Cristián Eyzaguirre and Francisco Guzmán  led advice to pharmaceutical distribution company Cardinal Health its $6.1bn acquisition of Medtronic's medical supply business. Other notable mandates included advising British private equity firm CVC Capital Partners on the local aspects of its $4.7bn acquisition of a 20 per cent stake in Gas Natural Fenosa; and assisting multinational pharmaceutical, chemical and life sciences company Merck with the Chilean aspects of the global 4.2bn sale of its health consumer business to Procter & Gamble. Firm chairman Jorge Carey is 'visionary' and 'a brilliant strategist', managing partner Jaime Carey 'provides excellent support' and Marcos Ríos is the compliance contact. Claudio Lizana,  Salvador Valdés, Francisco Acuña and Guillermo Acuña, along with Jorge Ugarte, Cristián Figueroa and Francisco Ugarte are also all highly regarded, as is counsel Patricia Silberman.

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