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Eugenio Besa

Work +56 2 2472 7017
Morales & Besa

Work Department

Banking & Finance.
Mergers & Acquisitions.
Energy and Natural Resources. 


Partner at Morales & Besa and co-head of Corporate/M&A, Energy and Natural Resources and Tax.


Mr Besa has focused his practice on commercial, financial and foreign investment matters. His experience covers mergers and acquisitions, capital markets and financial transactions, especially project finance.

Awards and recognitions:
Recognized in Corporate/M&A and in Banking and Finance by Chambers and Partners.
Recognized in Energy and Corporate and M&A by Latin Lawyer 250. 


He has co-authored “Public Works Concessions in Chile”, published in The International Construction Law Review (1998), and “A History and Future Outlook on Chilean Banking and Financial Regulation” published in Inside the Minds, Banking and Finance Client Strategies in Central and South America, Aspatore.


Spanish, English and French.


Chilean Bar Association.
Chilean-French Chamber of Commerce.
Chilean-British Chamber of Commerce.


Universidad de Chile Law School, L.C.J.S., graduated magna cum laude (1986).
University of California, Davis-Berkeley, American Law Program.


Banking and finance

Within: Banking and finance

Morales & Besa's 'truly professional and hardworking team has deep knowledge of Chilean legal issues'. It fields experts in restructuring, syndicated loans, structured finance, derivatives, regulatory matters and distressed debt, and it is experienced in industries such as retail, real estate, mining, energy, utilities and infrastructure. In project finance, the group acts for developers, sponsors, lenders, multilateral institutions, guarantors and EPC contractors on project structuring, financing, and construction and contractual issues. On the non-transactional side, the group regularly assists companies with licensing, regulatory and compliance matters. Notable clients include Enjoy, Los Guindos Generación, Banco BICE and Japan's SMBC. Myriam Barahona and José Miguel Carvajal are the department heads; recent mandates saw Barahona lead advice to BCI Asesoría Financiera concerning syndicated loans granted to two companies of the Vías Chile Group; and Carvajal assist Banco de Crédito e Inversiones with the amendment of the outstanding debt of CorpGroup holding group members. Other matters saw name-partner Guillermo Morales, who is 'one of the first lawyers clients in Chile should call with difficult questions', act for retail conglomerate Cencosud, as borrower, on a loan facility granted by EDC to refinance existing indebtedness. Co-founding partner Eugenio Besa , Carlos Silva and Matías Langevin (who is 'very focused on the key details that can often make or break capital markets deals') are also all highly-regarded practitioners. At senior associate level, Ignacio Menchaca and Javier Balbontin are the key names; former senior associate Ignacio Delpino moved in-house to Banco Security.

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Corporate and M&A

Within: Corporate and M&A

Morales & Besa¬†'takes the time to explain things in detail to its clients'. The 28-strong practice¬†has significant cross-border transactional experience and is particularly noted for¬†the sale of state-owned enterprises and handing concession award bids to operate state-controlled activities; it also regularly assists with significant corporate governance matters, strategic associations and corporate restructuring, as well as the design and implementation of compliance programmes, anti-corruption policies and self-regulation. Recent mandates saw the team act for the shareholders of Aguas Cha√Īar on the company's $100m sale to Marubeni and Toesca Asset Management; advise two SMU subsidiaries on the $76m sale of Construmart to Private Investment Fund Hammer; and assist AAS and Acciona Aeropuertos on the acquisition of Latam Airlines Group's ground handling business at Santiago‚Äôs International Airport. Founding partners Guillermo Morales¬†and Eugenio Besa co-head the team;¬†Macarena Laso,¬† Carlos Silva, Michel Diban, Mat√≠as Langevin¬†and¬†√Ālvaro Barriga¬†are also experienced partners.¬†An excellent professional', Edmundo Varas was promoted to partner; and Lorena Barrientos became the firm's first-ever counsel. Associate Mar√≠a Teresa Manubens B is also noted. Clients include Cencosud,¬†Bank of America Merrill Lynch, Acciona Airport Services (AAS), Globalv√≠a and The Carlyle Group.

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Projects and infrastructure

Within: Projects and infrastructure

Morales & Besa is 'speedy, efficient and adapts to clients' needs'. The 10-strong practice has a strong reputation in the market for its assistance to financiers, investors and developers with the development and financing of energy and infrastructure projects. Key clients include Intervial, WPD Chile, Banco Security, Globalvía and Meridiam Infrastructure; the team is representing the latter, a major infrastructure investor and the concessionaire of a major, $200m hospital project in relation to issues caused by the insolvency of Italy-based constructor Astaldi. It also advised EIG Global Energy Partners, and its Chilean subsidiaries, on a $127m project financing for the Cerro Dominador power plants project. Carlos Silva (infrastructure and energy projects development), José Miguel Carvajal and Myriam Barahona (both focusing on project finance) head the practice. Also highly regarded are Eugenio Besa (transactions, project finance) and Macarena Laso (public concessions, real estate, construction and infrastructure), while notable associates include James Channing (construction, real estate, project finance), who 'does a good job', Javier Balbontín (project finance), and Sebastián Leyton (energy, natural resources, projects).

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Chile: Energy and natural resources


Within: Mining

Morales & Besa advises on the establishment of mining property rights and incorporation of mining entities, mining agreements, permits, project financing and administrative law issues. The team recently advised BHP subsidiary MEL, on mining agreements with Orica Chile. Eugenio Besa heads the department and Lorena Barrientos is an experienced counsel. Other clients include Arena Minerals and BHP.

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