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AV ISIDORA GOYENECHEA 2800, FLOOR 43, LAS CONDES, SANTIAGO, PO 755-0647, CHILE
Tel:
Work +56 2 2928 2200
Email:
Web:
www.carey.cl

Francisco Ugarte

Tel:
Work +56 2 2928 2201
Email:
Carey

Work Department

Mergers and Acquisitions / Private Equity / Capital Markets / Banking and Finance / Insolvency, Bankruptcy and Restructuring / Government Procurement

Position

Partner of Carey and co-head of the firm’s Corporate / Mergers & Acquisitions / Capital Markets / Banking & Finance Group. 

Career

His practice focuses on advising international and local clients in mergers and acquisitions, including tender offers, auction processes, acquisitions of companies and assets, negotiated transactions, joint ventures, private equity transactions, securities and debt offerings, derivatives, project financing and development, representing both corporations and financial institutions.

AWARDS AND RECOGNITIONS
Recognized in Corporate and M&A, and in Capital Markets, Chambers Latin America.
Recognized in Corporate and M&A; Banking and Finance; Capital Markets, and in Energy, Latin Lawyer 250.
Recognized as Best Individual Lawyer in Derivatives and in Mergers and Acquisitions, Client Choice Guide (2012, 2014 and 2018).
Recognized in Corporate and M&A, and in Capital Markets, LACCA.
Recognized in Banking and Finance and M&A, IFLR1000.
Ranked as one of the leading corporate lawyers in Chile under the age of 40, Latin Lawyer (2003).
Recognized in Banking and Finance; Capital Markets; Corporate and M&A; Private Equity, Investment and Insolvency and Restructuring, Best Lawyers.
Recognized in Corporate: M&A and Mining, Who’s Who Legal.

PUBLICATIONS
Author of the Introduction "Legal innovations that foreign investors should be aware of", ILFR Guide (2014).
Co-author of "Secured Transactions South of the Border: Chilean Highlights and Recent Developments", Conference on Consumer Finance Law, Quarterly Report, Vol.66, n°3 y n°4, Oklahoma City University Law School (2012).
Author of the Chilean chapter in "Essentials of Merger Review", International Antitrust Committee, American Bar Association (2009).
Co-author of the Chilean chapter in "Merger Control Worldwide", Cambridge University Press (2005).
Contributor in several legal reforms promoted by the Chilean government and other non-governmental entities, including the NCG 30’s reform by the Insurance and Securities Commission regarding the registration of securities and debt offerings; the new regulation on corporations; the new law that facilitates the registration of a new business and the code for the certification of mining projects that seeks to facilitate the financing and IPO of new and junior mining companies; among others.

SEMINARS
Frequent lecturer on various corporate finance, securities, M&A, private equity and corporate governance topics in seminars and conferences organized by the ABA, Latin Lawyer and the Chilean Bar Association, among others.

Languages

Spanish and English.

Member

ACTIVITIES AND MEMBERSHIPS
Member of the Board of SQM, Votorantim Andina and Compañía Industrial El Volcán.
Professor of the LL.M. program, Universidad Católica de Chile (since 2010).
Vice-Chair of the Latin America & Caribbean Committee, Section of International Law, American Bar Association (ABA) (2017-2018 and 2018-2019).
Member of the Steering Group of the M&A Joint Venture Committee, Section of International Law, ABA (2018-2019).
Member of the International Bar Association.
Professor of Corporation Planning and M&A, Universidad Adolfo Ibáñez (2009-2012).
Professor of Business Organization, Universidad del Desarrollo (2009).
Foreign Associate, Project Development & Finance Group, Shearman & Sterling, New York (2001-2003).
Member of the Chilean Bar Association.

Education

Law, Universidad Católica de Chile.
LL.M., The University of Chicago (2001).


Chile

Banking and finance

Within: Banking and finance

Carey's¬†'service is excellent, mixing a strong legal background with practical knowledge of the market; the timeliness of responses is also amazing'. The practice has extensive experience advising creditors, investors and borrowers on a wide range of banking and finance deals. Representative work includes advising¬†domestic and foreign clients on bilateral or syndicated loans, liability management, public and private offers and placements of capital and debt, securitisation, project financing, and structured products.¬†Active, key clients include¬†Export Development Canada (EDC),¬†Banco Security,¬†Wells Fargo,¬†Macquarie Bank,¬†Ita√ļ Corpbanca,¬†International Finance Corporation (IFC) and¬†The Bank of Nova Scotia. Recent work includes advising¬†Tianqi Lithium Corporation on a $2.5bn senior credit facility agreement to purchase 24 per cent of Chilean chemical company SQM's series A shares; acting for¬†EDC on a $100m loan agreement granted to publicly-traded multinational retail company, Cencosud; and assisting¬†a number of senior lenders on the second financial restructuring of the Alto Maipo hydroelectric project.¬†On the borrower side, the team advised Acciona Energ√≠a Chile on a credit line to finance the VAT for its¬†San Gabriel wind project; and assisted¬†Transelec - through affiliate Transelec Concesiones - with its first project finance transaction, consisting of an up-to $375m financing for the construction, operation and maintenance of four transmission lines and related facilities. Department heads Francisco Ugarte (who¬†is 'always available to provide advice'),¬†Diego Peralta¬†and¬†Felipe Moro are all well known figures in the market; their practices are oriented towards project finance,banking and bank regulatory, and corporate finance and private equity, resectively. Alejandra Daroch, Fernando Noriega¬†and Luciano Aguilera¬†are all associates to note.

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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,¬†Cristi√°n Eyzaguirre¬†and¬†Francisco Guzm√°n¬†¬†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 R√≠os¬†is the compliance contact.¬†Claudio Lizana, ¬†Salvador Vald√©s, Francisco Acu√Īa¬†and¬†Guillermo Acu√Īa, along with¬†Jorge Ugarte,¬†Cristi√°n Figueroa¬†and Francisco Ugarte¬†are also all highly regarded, as is counsel Patricia Silberman.

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