CMS Grau

CMS Grau advised Banco Internacional del Perú S.A.A. (Interbank) as lender in the structuring, negotiation, and disbursement of a medium-term loan of up to S/ 80 million (the ‘Loan’) in favour of Tiendas Aruma S.A.C. (‘Aruma’), which will be used by Aruma for various corporate purposes. The loan is secured by a package of guarantees, including a trust agreement, with Interbank and BCP as trustees, Aruma as trustor, and La Fiduciaria S.A. as trustee, to which the collection rights and cash flows of certain shops operated by Aruma were transferred. The closing of the transaction and the disbursement of the funds was made on Thursday 29 August 2024. Aruma is part of Grupo Lindcorp and stands out as the first beauty store in Peru, with nearly 100 locations nationwide. This transaction is particularly significant for the group, as “it will boost Aruma's accelerated growth in this sector, creating professional growth opportunities for hundreds of women in the stores and energising formal retail” (Marco Pastor – CFO & Business Development Grupo Lindcorp). External Legal Advisors for Interbank: CMS Grau: Partner Juan José Hopkins and team composed by Cinthia Cánepa, Gabriel Nájar and Juan Andrés Carrera. Internal Legal Advisors for Interbank: Viviana Tapia and Mariano Chumpitaz. External Legal Advisors for Aruma: PPU: Partner Antonio Guarniz and team composed by Víctor Bravo and Daniela Fortón. Legal team of La Fiduciaria: Diego Uribe, Gabriela Soto and Valeria Falla.  

CMS Grau advised the Real Estate Investment Fund Sura Asset Management II (SURA) as the borrower of a medium-term loan,structured by Banco BTG Pactual S.A.: - Cayman Branch (BTG), intended for the refinancing of the fund's debts with third parties (the “Loan”). SURA is a real estate investment fund duly registered with the Public Registry of the Securities Market of the Superintendence of the Securities Market (SMV) under the General Regime, which was structured and is managed by Fondos Sura SAF S.A.C. The Loan will be backed by a package of guarantees, including a mortgage granted by SURA on a property it owns. The closing of the transaction took place on May 9, 2024, while the funds were disbursed by BTG in favor of SURA on May 15, 2024 and September 12, 2024. External Legal Advisors for SURA: CMS Grau: Partner Miguel Viale, and team composed of Cinthia Cánepa and Gabriel Nájar. Internal Legal Advisors for BTG: Laura Teodoro, Karim Abuid, and Rosario Siu. External Legal Advisors for BTG: DLA Piper Peru: Partner Sergio Barboza, and team composed of Juan Carlos Ramírez, Ricardo Mercado, Alexandra del Río, and Ariana Villegas.  

CMS Grau advised the Real Estate Investment Fund Sura Asset Management II (SURA) as the borrower of a medium-term loan,structured by Banco BTG Pactual S.A.: - Cayman Branch (BTG), intended for the refinancing of the fund's debts with third parties (the “Loan”). SURA is a real estate investment fund duly registered with the Public Registry of the Securities Market of the Superintendence of the Securities Market (SMV) under the General Regime, which was structured and is managed by Fondos Sura SAF S.A.C. The Loan will be backed by a package of guarantees, including a mortgage granted by SURA on a property it owns. The closing of the transaction took place on May 9, 2024, while the funds were disbursed by BTG in favor of SURA on May 15, 2024 and September 12, 2024. External Legal Advisors for SURA: CMS Grau: Partner Miguel Viale, and team composed of Cinthia Cánepa and Gabriel Nájar. Internal Legal Advisors for BTG: Laura Teodoro, Karim Abuid, and Rosario Siu. External Legal Advisors for BTG: DLA Piper Peru: Partner Sergio Barboza, and team composed of Juan Carlos Ramírez, Ricardo Mercado, Alexandra del Río, and Ariana Villegas.  

CMS has advised infrastructure investment fund manager VisionEdgeOne on the acquisition of Spanish bike-sharing company Inurba Mobility from Sherpa Capital and Moventia Group on behalf of the investors of its VisionEdgeOne Infrastructure Partnership platform. Launched in 2023, VisionEdgeOne’s strategy focuses on logistics, digital, energy transition, and urban sectors, aiming to identify, invest in, and deliver future infrastructure in a sustainable way. This acquisition will support Inurba Mobility’s expansion and growth in the European bike-sharing sector by winning new concessions with European cities looking to become more sustainable. CMS Corporate Partner Narinder Jugpal comments: “We are thrilled to have supported VisionEdgeOne on this milestone acquisition as it marks their first investment. The bike-sharing market is dynamic and growing, driven by ambitious sustainable mobility initiatives and a shift towards greener cities. We are confident that this acquisition will provide Inurba Mobility with the necessary backing to thrive and expand its reach to new cities looking to become more sustainable.” Adam Ringer, Head of Origination at VisionEdgeOne, adds: “Inurba Mobility operates in an exciting sector, successfully positioning itself as demand for affordable, healthy, and green transport options grows. We are extremely grateful to Narinder and the CMS team for their unwavering support throughout the process. Their expertise and deep knowledge have been invaluable in bringing this deal to a successful completion.” The CMS team was led by Narinder Jugpal and included Ben McParland, Diana Psyarenko, Amrit Duhra, Jason Todd and Rebecca Stewart (CMS UK), Luis Miguel de Dios and Luis Trigueros von Korff (CMS Spain), Thomas Hains, Mailys-Claire Diogo and Vincent Desbenoit (CMS France), Mateusz Stepien and Magdalena Zmyslowska (CMS Poland) and Juan José Hopkins and Andrea Paiba (CMS Peru). With 1,400 corporate lawyers in over 80 offices worldwide, of whom over 250 are based in the UK, the CMS Corporate practice has established itself as a leader in advising on strategic deals, high-profile transactions and mergers and acquisitions. ----------------END-----------------   For further information, please contact: Anne Moirez, Communications E: [email protected] T: +44 (0)20 7367 2186 Notes to editors: CMS Founded in 1999, CMS is an international organisation of independent law firms that offers full-service legal and tax advice. With 85 offices in over 45 countries across the world and more than 6,300 lawyers, CMS has longstanding expertise both in advising in its local jurisdictions and across borders. From major multinationals and mid-caps to enterprising start-ups, CMS provides the technical rigour, strategic excellence and long-term partnership to keep each client ahead in its chosen markets. The CMS member firms provide a wide range of expertise across 19 practice areas and sectors, including Corporate/M&A, Energy & Climate Change, Funds, Life Sciences & Healthcare, TMC, Tax, Banking & Finance, Commercial, Antitrust, Competition & Trade, Dispute Resolution, Employment & Pensions, Intellectual Property and Real Estate. For more information, please visit cms.law

Lima, 6th may 2025 - CMS Grau advised Banco de Crédito del Perú (BCP) as lender in the structuring, negotiation and disbursement of a medium-term loan up to the sum of USD 22.5 million in favor of Megacentro Industriales Sur S.A.C. (Megacentro), which will be used to finance the construction and implementation of the fifth stage of the Megacentro III warehouse condominium, as well as to other corporate uses. The loan is backed by a package of guarantees, including a mortgage granted by Megacentro on a property of its own, as well as a trust. The closing of the transaction occurred on April 25, 2025, while the first disbursement of resources occurred on April 30, 2025. External Legal Advisors for BCP: CMS Grau: Partner Miguel Viale, and team composed of Cinthia Cánepa, Gabriel Nájar and Valeria Mazuelos-Coello. Internal Legal Advisors for BCP: Melissa Calderón and Mariana Castro. External Legal Advisors for Megacentro: PPU: Antonio Guarniz, Mario Arce and Wandha Pichardo.   -----------------END-----------------   About CMS Founded in 1999, CMS is an integrated, multi-jurisdictional organisation of law firms that offers full-service legal and tax advice. With 81 offices in 45 countries across the world and more than 5,000 lawyers, CMS has long-standing expertise both in advising in its local jurisdictions and across borders. From major multinationals and mid-caps to enterprising start-ups, CMS provides the technical rigour, strategic excellence, and long-term partnership to keep each client ahead in its chosen markets. CMS Grau is one of the foremost legal firms in Peru, boasting over 90 years of comprehensive legal advisory experience. According to Legal 500, CMS Grau ranks among the top 10 legal firms in the country. The firm is home to a team of specialised professionals who provide innovative solutions tailored to the needs of their clients. CMS Grau embraces a corporate culture that has adeptly adapted to the times, offering a broad spectrum of legal platforms and applications for its clients, taking into consideration their industry and jurisdiction. For more information, please visit cms.law

Lima, March 2025 – CMS Grau has announced the incorporation of six lawyers into its Real Estate & Construction practice, consolidating its experience and comprehensive advisory capacity. The team, coming from Rubio Leguía Normand, joins in a strategic move that highlights CMS Grau's leadership in the real estate market. Franco Soria and Pedro Pablo Castañeda join CMS Grau, raising the firm's total number of partners to 27. Both possess extensive technical knowledge and experience in the real estate sector, having participated in high-profile operations. "The addition of Franco and Pedro Pablo, who were previously part of CMS Grau, along with a solid team of associates, strengthens our ability to support our clients in large-scale projects. We have been offering comprehensive services for years and are pioneers in providing an integrated approach that combines legal and technical advisory services, a proposal that has become a market reference. In this context, where specialised planning and a multidisciplinary vision are key to the sector's development, this integration will allow us to continue supporting our clients with strategic and comprehensive solutions," said Rolando Cevasco, Managing Partner of CMS Grau. Alongside the two partners, associates Renzo López, Valeria Umeres, David Cox, and Santiago Méndez are also joining, consolidating a team of 11 lawyers specialised in real estate law, co-led by CMS Grau partner Carolina Gajate. Carolina is an expert in real estate and construction matters and previously led a team of four specialist associates: Gustavo Atarama, Carmen Assereto, Anai Salazar, and Alonso Maguiña. This integration positions the practice as one of the largest in the market, offering services ranging from the structuring of real estate projects to advisory on permits, licenses, and financing. Franco Soria commented: "I am excited to return to CMS Grau, a firm with which I share values and purpose. I know the firm and its commitment to doing things right. I am confident that together we will consolidate a differentiated value proposition for the real estate market at a key moment for the country's development." In recent years, the real estate and construction sector in Peru has undergone significant transformations. These changes are driven by the implementation of new regulatory frameworks for urban development projects, the promotion of state land auctions, and the adoption of advanced technologies aimed at improving project efficiency and sustainability. "This scenario requires specialised planning and comprehensive advisory services that enable clients to seize new market opportunities for the success of their projects, as well as address the challenges associated with urban regulations, sustainability, and project financing," commented Pedro Pablo Castañeda. In turn, Carolina Gajate, CMS Grau's Real Estate & Construction partner, added: "This synergy of an entire team of lawyers not only consolidates our real estate team in the market but also reaffirms CMS Grau's commitment to our clients, strengthens our responsiveness, and is part of our strategic growth, always for the benefit of our clients." CMS Grau has established itself as one of the country's most recognised law firms, offering a comprehensive range of transactional and non-transactional legal services. The firm continues to strengthen its presence in the main economic sectors, with an innovative approach and strategic support for its clients. About the New Partners With over 20 years of experience, Franco Soria specialises in real estate law, land regularisation, and the development of urban and rural projects. He has been a partner in the real estate and land regularisation area at Rubio Leguía Normand and CMS Grau, where he worked for almost eight years. He has also held key positions in the public sector, such as Director of the National Superintendence of State Property (SNB) and consultant at COFOPRI – the Peruvian Agency for the Formalisation of Informal Property. His career includes determining feasibility for the acquisition and regularisation of land needed for mining, energy, infrastructure, retail housing, telecommunications, and agribusiness projects in several of the country's major developments. He provides comprehensive advisory services that combine an integrated and strategic approach to ensure the feasibility and execution of real estate projects. Pedro Pablo Castañeda has over 15 years of experience specialising in real estate, registry, administrative, and arbitration law, as well as managing institutional relations with various public and private entities. He has led significant real estate projects in various sectors, including retail, mining, energy, and infrastructure, with a particular focus on obtaining licenses and permits for the development, construction, and operation of shopping centres and the retail sector in general. Before joining the firm, Pedro Pablo was a partner at Rubio Leguía Normand, Corporate Deputy Manager of Institutional Relations at Real Plaza shopping centre chain, and previously Senior Property Lawyer at Hochschild Mining and Associate at CMS Grau. He also has experience in the public sector, having worked at the National Superintendence of State Property (SBN). With the incorporation of these new professionals, CMS Grau's Real Estate practice consists of a legal team of 3 partners and 8 associates, along with a technical team of engineers and consultants, positioning it as one of the most robust and experienced practices in the market.

In today’s increasingly demanding and dynamic business landscape, talking about emotions, mental health, and vulnerability remains a challenge. Responding to this need, Dione+ Podcast emerges as a new initiative led by CMS, aimed at opening up real conversations around leadership, organisational culture, and personal transformation across Latin America. The first episode, titled “Talking about mental health saves lives: here’s one”, features the powerful testimony of Álvaro F. Peña, Executive Vice President at APG Capital Investments. In an intimate conversation, Peña shares how prolonged stress and pressure led him into a deep personal crisis and how that pivotal moment pushed him to re-evaluate his life and his approach to leadership. “The aim of Dione+ is to build a community of leaders who are willing to show up with greater humanity and empathy. This podcast is a natural extension of that vision—an opportunity to amplify the voices that are honestly transforming business culture from within,” says Mauricio Gómez, Partner at CMS Mexico and Head of DEI for CMS Latin America. With a thoughtful and authentic approach, Dione+ Podcast positions itself as a space where topics such as inclusion, empathy and leadership are explored not through theory, but through real experiences of those driving change in their organisations. “Álvaro’s story is a powerful call to rethink how we experience leadership. As a firm, we believe that sharing these stories is part of our commitment to creating a more inclusive and conscious workplace,” adds Adriana Escobar, Partner at CMS Colombia and member of the regional DEI governance committee. Episodes will be available on platforms including Spotify, Apple Podcasts and YouTube. The series will feature guests from various countries and industries, addressing topics such as inclusive leadership, emotional wellbeing, cultural barriers, and best practices in corporate environments. More information: https://cms.law/en/per/podcasts/dionepodcast   - End - Contact: Jazmin Mateo Business Development Coordinator E [email protected]   Notes to editors: CMS Founded in 1999, CMS is an international organisation of independent law firms that provides full-service legal advice. With 84 offices in over 49 countries and more than 6,800 lawyers worldwide, CMS has a solid track record of advising both in local jurisdictions and on cross-border matters. In Latin America, CMS has offices in Mexico, Colombia, Peru, Chile, and in Brazil through FAS Advogados in cooperation with CMS. The firm is known for its focus on innovation, sustainability, and the development of inclusive corporate cultures. CMS member firms offer a broad range of services across 19 areas of law and industry sectors, including: Corporate/M&A, Energy & Climate Change, Funds, Life Sciences & Healthcare, Technology, Media & Communications (TMC), Tax, Banking & Finance, Commercial, Antitrust, Competition & Trade, Dispute Resolution, Employment, Labour & Pensions, Intellectual Property, and Real Estate. For more information, visit cms.law

Lima, June 2025. - CMS Grau announces the appointment of Julio Vidal as a new partner, along with Evelyn Román, Tais Rabanal, and Fernanda Paz as associates in the Infrastructure and Projects practice area. This strategic move brings key talent to one of the most renowned legal teams in the Peruvian market, responding to the growing demand for specialised advisory services in complex projects across sectors such as transport, healthcare, urban infrastructure, and sanitation (drinking water and sewage). The department consolidates its preventive and multidisciplinary approach, integrating professionals with outstanding experience in the design, structuring, transactions, regulation, financing, and execution of public and private investment projects. "This appointment marks a key milestone in our firm's evolution. Infrastructure project development is one of the main drivers of the country’s economic growth, and we aim to continue supporting our clients through the challenges posed by the new cycle of public and private investment in Peru," said Rolando Cevasco, Managing Partner of CMS Grau. Julio Vidal brings over 25 years of experience advising public and private entities on Public-Private Partnerships (PPPs), Asset Projects, Works for Taxes schemes, and public services regulation, standing out for his leadership in promoting infrastructure projects through the Asset Projects mechanism. Evelyn Román, Tais Rabanal, and Fernanda Paz, in turn, contribute extensive expertise in regulatory consulting, administrative law, public management, and infrastructure project structuring within healthcare, transport, roads, and airports. All four lawyers join from Estudio Rubio, Leguía, Normand. "Our clients face increasingly complex projects with higher technical, contractual, and regulatory demands. This appointment responds to that reality. With Julio, Evelyn, Tais, and Fernanda, we enhance our ability to anticipate risks, devise agile solutions, and support each project phase with a sector-focused and comprehensive vision," said Giancarlo Villafranqui, partner in the Infrastructure and Projects practice at CMS Grau. The announcement comes at a pivotal moment for the country. Peru faces an infrastructure deficit exceeding USD 110 billion, according to the National Infrastructure Plan for Competitiveness, while PROINVERSIÓN plans to auction more than USD 8 billion in PPP projects in 2025, covering sanitation, healthcare, transport, and energy initiatives. In this scenario, specialised legal advisory services are crucial to ensure efficient, sustainable, and transparent processes. "Infrastructure must no longer be viewed solely as the execution of works; it requires intelligent, comprehensive legal design from inception, operation, and maintenance to contractual execution. We are joining CMS Grau to help ensure that our clients' projects develop with technical precision, sector-specific insight, and a practical approach—so projects are executed smoothly, without obstacles or delays. We believe our advisory services must go beyond legal aspects; they must be holistic. We must have the capability to lead and build multidisciplinary teams to support our clients throughout the entire project lifecycle (public or private), not only legally but also technically and financially," remarked partner Julio Vidal. The reactivation of the infrastructure sector in Peru, driven by the need to close gaps and undertake megaprojects, presents significant opportunities for investors and operators. CMS Grau aims to position itself as a strategic partner to tackle these challenges, offering legal advisory services with a preventive, holistic, and regional approach. More information on the new lawyers Julio Vidal is a lawyer from the Pontifical Catholic University of Peru (PUCP) with a Master’s degree in Finance and Corporate Law from ESAN, specialising in public services regulation. He has over 25 years of experience in the design and execution of infrastructure projects through Public-Private Partnerships (PPPs) and Asset Projects, both in the public and private sectors. He has led key regulatory processes in the sanitation sector, such as the Modernisation Law for Sanitation Services, and has participated in the legal structuring of initiatives in healthcare, transport, and urban services. His career combines regulatory vision with executive capability for large-scale projects. Evelyn Román is a lawyer from the PUCP with more than 12 years of experience advising on infrastructure projects nationwide. She has been involved in all stages of the project cycle—from design and structuring to financial closure and management—under schemes such as PPPs, Works for Taxes, and State Asset Projects. Her expertise has focused on initiatives in sanitation, healthcare, roads, airports, and environmental infrastructure. She has undertaken studies in infrastructure management at the Polytechnic University of Catalonia and public services regulation at the University of the Pacific. Tais Rabanal is a lawyer from the PUCP with experience in sectoral regulation, environmental law, and public management. She has worked on infrastructure projects with social and territorial impact, particularly within public procurement and services regulation. Her academic background and practical experience have enabled her to participate in private investment initiatives with a comprehensive perspective that integrates legal, regulatory, and environmental aspects. Fernanda Paz is a lawyer from the PUCP with specialised studies in Compliance. She has experience in legal advisory services for private investment projects, particularly through PPPs and State Asset Projects, as well as in public services regulation, real estate law, sanitation, public management, and general administrative law. She has advised national and international companies in the regulatory and contractual design of social and urban infrastructure initiatives.

Lima, 28 de agosto de 2025 - CMS Grau asesoró a Colbún Perú S.A. (“Colbún Perú”), subsidiaria de Colbún S.A. (“Colbún”) en la adquisición de la participación indirecta de Platinum Bolt A 2015 RSC Limited (“Platinum Bolt”) en Fénix Power Perú S.A. (“Fénix”), a través de la adquisición del 41.38% de las acciones emitidas por Inversiones de Las Canteras S.A. (“Las Canteras”). De esta manera, Colbún Perú se convirtió en titular de la totalidad de acciones emitidas por Las Canteras; y, por lo tanto, controlador absoluto de Fénix. El valor de la transacción superó los US$ 70 millones. Fénix es uno de los principales generadores del mercado eléctrico peruano, con una participación de alrededor del 8%. Su central termoeléctrica es la única de ciclo combinado dual en Perú (gas natural y vapor de agua) y tiene una potencia instalada de 572 MW. Colbún es una empresa generadora con 39 años de experiencia, siendo el tercer mayor operador eléctrico en el mercado chileno, con una cartera de más de 350 clientes industriales y empresas, cerca de 1.300 trabajadores y una potencia instalada de más 5.000 MW a través de 29 centrales de generación en Chile y Perú. El cierre de la operación se produjo el pasado 21 de agosto de 2025. Asesores Legales Externos de Colbún: CMS Grau: Socios Juan Carlos Escudero y Miguel Viale; y, equipo conformado por Cinthia Cánepa y Pablo Martínez. Barros & Errázuriz: Fernando Garrido. Asesores Legales Internos de Colbún: Rodrigo Pérez y Verónica Vergara. Asesores Legales Externos de Platinum Bolt: Rebaza, Alcázar y de las Casas: Socio Luis Miguel Elías y equipo conformado por Rafael Santín y Derek Ortmann. Linklaters: Socio Rupert Cheyne y Maxi Niefer. Lima, August 28, 2025 - CMS Grau advised Colbún Perú S.A. (“Colbún Perú”), subsidiary of Colbún S.A. (“Colbún”) in the acquisition of Platinum Bolt A 2015 RSC Limited’s (“Platinum Bolt”) indirect participation in Fenix Power Perú S.A. (“Fenix”), through the acquisition of 41.38% of the shares issued by Inversiones de Las Canteras S.A. (“Las Canteras”). Thus, Colbún Perú has become the holder of all of Las Canteras’ equity shares and, as a consequence thereof, sole controller of Fénix. The transaction value exceeded US$70 million. Fenix is one of the main generators in the Peruvian energy market, with a share of approximately 8% of the market. Its thermoelectrical power plant is the only one with a dual combined cycle in Peru (natural gas and water steam) and has an installed capacity of 572 MW. Colbún is a power generation company with 39 years of experience. It is the third largest electricity operator in the Chilean market, with a portfolio of more than 350 industrial and corporate customers, nearly 1,300 employees and an installed capacity of over 5,000 MW across 29 power plants in Chile and Peru. The closing of the transaction occurred on August 21. External Legal Advisors for Colbún: CMS Grau: Partners Juan Carlos Escudero and Miguel Viale, and team composed of Cinthia Cánepa and Pablo Martínez. Barros & Errázuriz: Fernando Garrido. Internal Legal Advisors for Colbún: Rodrigo Pérez and Verónica Vergara. External Legal Advisors for Platinum Bolt: Rebaza, Alcázar y de las Casas: Partner Luis Miguel Elías, and team composed of Rafael Santín and Derek Ortmann. Linklaters: Partner Rupert Cheyne y Maxi Niefer.

Lima, January 2026 – CMS Grau announces the appointment of Sandra Chicoma as a new Partner in its Aviation practice, a decision that responds to sustained growth and increasing regulatory sophistication in the commercial aviation industry, both domestically and internationally, and to the Firm’s commitment to continue strengthening its sector-focused value proposition. Sandra Chicoma has more than 20 years’ experience at CMS Grau. Over this period, she has supported sector clients on highly sensitive regulatory, operational and contentious matters, combining technical expertise with practical judgement to inform decision-making. Her experience spans aviation law, as well as key areas that today directly affect the operations and reputation of airlines and operators, including administrative law and proceedings before public authorities, together with consumer protection applied to air transport. “The appointment of Sandra as Partner recognises her track record at our Firm, built with consistency and deep knowledge of the sector. In aviation, the standard of response and an understanding of both the regulator and the operation make the difference. With Sandra Chicoma, we reinforce leadership that combines technical rigour with a business-oriented vision for our clients,” said Rolando Cevasco, Managing Partner of CMS Grau. Background of CMS Grau’s new Aviation Partner Sandra’s experience includes structuring the most suitable approach for obtaining operating and flight permits, depending on the type of operation each client intends to carry out; drafting and implementing agreements relating to aircraft leasing, aeronautical services and chartering; handling administrative and judicial claims arising from air transport; and responding to own-initiative proceedings by entities such as MIGRACIONES, OSITRAN and the Directorate General of Civil Aviation, among others. She also advises insurance companies specialising in aviation insurance on the regulatory framework in Peru, both in insurance matters and in aviation matters. She supports clients in bilateral negotiations with Peruvian authorities and advises public and private airports. In addition, she participates in sector regulatory-improvement initiatives, including working spaces with associations such as IATA and ALTA, as well as with the Directorate General of Civil Aviation. “I take on this responsibility with the commitment to continue supporting our clients with advice that is very close to their operations and, at the same time, rigorous from a regulatory perspective. In aviation, anticipating risks and coordinating practical solutions with a business mindset is key to sustaining safe, efficient operations that are compatible with local and international standards,” said Sandra Chicoma. A specialist team with an integrated approach and international reach CMS Grau’s Aviation practice is made up of a multidisciplinary team distinguished by its integrated approach to matters relating to regulation, transactions and operations, at both domestic and international level. The core team comprises Sandra Chicoma, Miguel Mena and Tarek Mohanna, with the ability to draw on support from other practices within the Firm when the nature of the mandate requires it. As part of this approach, and given the consumer-protection component that runs through the industry, the team works closely with the Firm’s Competition practice, comprising partners María Delia Oxley and Ramón Huapaya, and associates Oscar Alejos, Pedro Llerena and Alfredo Huamaní. This coordination underpins the advice the Firm currently provides to leading industry players on regulatory and operational matters relating to international and domestic commercial aviation in Peru. CMS Grau also benefits from the international reach of CMS, enabling it to coordinate cross-border advice and deliver consistent service standards for clients with regional or global operations, particularly on regulatory, contractual and international operations matters.  

Lima, 22 January 2026 – CMS Grau advised a club of local banks comprised of Banco de Crédito del Perú (BCP), Banco Internacional del Perú S.A.A. (Interbank) and Scotiabank Perú S.A.A. (Scotiabank and, together with BCP and Interbank, the Banks), as lenders, on the structuring, negotiation and disbursement of a secured medium-term loan for an aggregate amount of up to PEN 267 million (the Loan) granted in favour of Cerámica Lima S.A. and other companies of the Celima–Trébol Group (the Celima–Trébol Group), acting as co-borrowers The transaction closed on 24 December 2025, and the funds were disbursed on 7 January 2026. The Celima–Trébol Group is a solid business group with more than 50 years of experience, comprised of two companies that are market leaders in Peru: Cerámica Lima S.A. (Celima) and Corporación Cerámica S.A. (Trébol). The Group is recognised as one of the leading producers and distributors of ceramic tiles, porcelain tiles, sanitary ware and taps in Peru. External Legal Advisors to the Banks: CMS Grau: Miguel Viale (Socio), Cinthia Cánepa (Asociada Senior) y Juan Andrés Carrera (Asistente legal) Internal Legal Advisors of BCP: Melissa Calderón y Mariana Castro Internal Legal Advisors of Interbank: Viviana Tapia e Ivonne Ramos Internal Legal Advisors of Scotiabank: Derek Ricketts y Samuel Bendezú External Legal Advisors to the Grupo Celima: Estudio Muñiz: Carlos Arata (Socio), Diego Liendo (Asociado Senior) y Giovanni Huamaní (Asociado) Internal Legal Advisors of the Grupo Celima: Pedro Beraún y Maritza Tapia  

Lima, 28 April 2026 – CMS Grau advised Banco BBVA Perú, as lender, on the structuring, negotiation and disbursement of a medium-term loan of up to PEN 102 million in favour of Empresa Regional de Servicio Público de Electricidad Electronoroeste S.A. – ENOSA, a company within the Distriluz Group. According to the Distriluz Group, “the Loan constitutes a strategic milestone for electricity distribution companies under FONAFE, benefiting more than 600,000 customers in Piura and Tumbes.” The transaction closed on 23 April 2026, and the disbursement took place on 24 April 2026. ENOSA is a public utility company engaged in the distribution and commercialisation of electricity within the concession area granted by the Peruvian State in the regions of Piura and Tumbes. External legal advisers to the Banks: CMS Grau: Miguel Viale (Partner), Cinthia Cánepa (Senior Associate) and Pablo Martínez (Associate). Internal legal advisers to BBVA: Mateo Lanata Dávilda. Internal legal advisers to ENOSA: Natalie Bardalez. CMS Grau asesora a BBVA en un financiamiento por PEN 102 millones a favor de ENOSA Lima, 28 Abril 2026 - CMS Grau asesoró a Banco BBVA Perú, como prestamista, en la estructuración, negociación y desembolso de un préstamo de mediano plazo de hasta PEN 102 millones a favor de Empresa Regional de Servicio Público de Electricidad Electronoroeste S.A. - ENOSA, empresa del Grupo Distriluz. De acuerdo a lo indicado por el Grupo Distriluz, “el Préstamo constituye un hito estratégico para las empresas distribuidoras de electricidad bajo el ámbito de FONAFE, en beneficio de más de 600,000 clientes en Piura y Tumbes.” El cierre de la operación tuvo lugar el 23 de abril de 2026, mientras que el desembolso se realizó el 24 de abril de 2026. ENOSA es una empresa de servicio público dedicada a la distribución y comercialización de energía eléctrica dentro del área de concesión otorgada por el Estado peruano en las regiones de Piura y Tumbes. Asesores Legales Externos de los Bancos: CMS Grau: Miguel Viale (Socio), Cinthia Cánepa (Asociada Senior) y Pablo Martínez (Asociado).  Asesores Legales Internos de BBVA: Mateo Lanata Dávilda.  Asesores Legales Internos de Enosa: Natalie Bardalez.

Lima, April 2026. – CMS Grau has announced the appointment of Kiomi Osorio as a partner, in a move that strengthens its capabilities in mergers and acquisitions (M&A) and structured finance, consolidating its position in the Peruvian legal market for highly complex and sophisticated transactions. In this way, CMS Grau is strengthening its Corporate and M&A team, which will now comprise five partners and ten associates, bolstering its capacity for complex transactions with a strategic, efficient approach aligned with the demands of the Peruvian legal market. Kiomi joins the law firm, bringing the total number of partners to 27, with the aim of contributing his extensive knowledge and experience in the mergers and acquisitions sector.   According to media reports, the deals market got off to a very dynamic start in 2026, with around 15 transactions worth USD 3.2 billion in the first two months, representing a 2,413% increase compared to the first two months of the previous year.   “Kiomi joins the firm at a key moment for the development of the deal market in the country. Her experience, strategic vision and ability to lead complex transactions reinforce our value proposition and our commitment to supporting our clients in their most important decisions,” commented Rolando Cevasco, managing partner at CMS Grau.   For his part, Miguel Viale, partner in the Corporate and M&A practice at CMS Grau, highlighted the strengthening of a key practice for the firm, with high expectations for significant growth in the country’s current context. “Sectors such as mining, energy, technology and agribusiness will drive M&A activity in Peru towards the second half and the end of 2026, so having a professional with Kiomi’s track record and experience will be essential to continue supporting our clients in increasingly sophisticated and high-value transactions,” he noted.   For Kiomi, this is a challenge she takes on with great enthusiasm and a commitment to contributing to the growth of the firm and the practice area. “I am joining CMS Grau at a dynamic moment in the market, with the objective of continuing to develop complex transactions that integrate M&A and Finance, supporting clients in their strategic investment and financing decisions.” she said.   Throughout her career, she has advised local and international clients on corporate and financial transactions, including mergers and acquisitions, project finance, acquisition finance and capital markets transactions, many of which involve multi-jurisdictional elements and complex financing and investment structures. Her practice is distinguished by its integration of M&A and finance in the structuring and execution of transactions, enabling comprehensive approach to deals where investment, financing and execution converge, advising both sponsors and financial institutions.   With this appointment, CMS Grau continues to strengthen its corporate practice, one of the firm’s most dynamic, in a context where companies demand comprehensive advice with an international focus.   In recent years, the mergers and acquisitions market in Peru has shown sustained growth, driven by companies’ need to adapt to new regulatory environments, access financing and explore growth opportunities. In this context, having specialist advice is key to structuring efficient and sustainable transactions.   Kiomi’s appointment forms part of CMS Grau’s growth strategy, aimed at consolidating high-calibre teams and continuing to position itself as one of the country’s leading law firms, offering a comprehensive range of services and a client-focused approach.   About CMS Grau CMS Grau is one of Peru’s leading law firms, with over 90 years’ experience in providing comprehensive legal advice. According to The Legal 500, CMS Grau ranks among the country’s top 10 law firms. It boasts a large team of specialist professionals who deliver innovative solutions tailored to their clients’ needs across more than 20 practice areas. The firm’s corporate culture has successfully adapted to the times to provide a wide range of platforms and innovative legal solutions for its clients, taking into account their sector and jurisdiction. For further information, visit cms.law   Press contact:   Yvanna Bernasconi [email protected] 981 517 935 Tomás Mesía Solano [email protected] 981 517 365       CMS Grau anuncia la incorporación de Kiomi Osorio como socia, potenciando el área Corporativa y M&A   Lima, abril de 2026. – CMS Grau anunció la incorporación de Kiomi Osorio como socia, en un movimiento que refuerza sus capacidades en fusiones y adquisiciones (M&A) y financiamientos estructurados, consolidando su posicionamiento en el mercado legal peruano en operaciones de alta complejidad y sofisticación. De esta manera, CMS Grau potencia su equipo de Corporativo y M&A, que estará ahora conformado por 05 socios y 10 asociados, fortaleciendo su capacidad en transacciones complejas con un enfoque estratégico, eficiente y alineado a las exigencias del mercado legal peruano.   Kiomi se suma al estudio jurídico, incrementando a 27 el número total de socios de la firma, y con la visión de aportar con su amplio conocimiento y experiencia en el sector de fusiones y adquisiciones.   Según información difundida en medios, el mercado de deals inició el 2026 muy dinámico, con alrededor de 15 transacciones por un valor de USD3,200 millones en el primer bimestre, lo que representa un crecimiento de 2,413% respecto a los dos primeros meses del año anterior.   “Kiomi se suma a la firma en un momento clave para el desarrollo del mercado de deals en el país. Su experiencia, visión estratégica y capacidad para liderar transacciones complejas refuerzan nuestra propuesta de valor y nuestro compromiso de acompañar a nuestros clientes en sus decisiones más relevantes”, comentó Rolando Cevasco, managing partner de CMS Grau.   Por su parte, Miguel Viale, socio del área Corporativa y M&A de CMS Grau, destacó el fortalecimiento de una práctica clave para la firma y con altas expectativas de crecimiento en el contexto actual del país. “Sectores como minería, energía, tecnología y agroindustria impulsarán la actividad de M&A en el Perú hacia la segunda mitad y el cierre de 2026, por lo que contar con una profesional de la trayectoria y experiencia de Kiomi será fundamental para seguir acompañando a nuestros clientes en transacciones cada vez más sofisticadas y de alto valor”, señaló.   Para Kiomi, es un reto que asume con mucho entusiasmo y compromiso de contribuir al crecimiento de la firma y el área. “Me incorporo a CMS Grau en un momento dinámico del mercado, con el objetivo de seguir desarrollando operaciones complejas que integran M&A y Finance, acompañando a nuestros clientes en decisiones estratégicas de inversión y financiamiento.”, expresó.   A lo largo de su experiencia ha asesorado a clientes locales e internacionales en operaciones corporativas y financieras, incluyendo fusiones y adquisiciones, financiamiento de proyectos, acquisition finance y transacciones de mercado de capitales, muchas de ellas con componente multijurisdiccional y estructuras complejas de financiamiento e inversión. Su práctica se distingue por integrar M&A y Finance en la estructuración e implementación de transacciones, permitiendo una asesoría completa en operaciones donde convergen inversión, financiamiento y ejecución, tanto para sponsors como para entidades financieras.   Con esta incorporación, CMS Grau continúa reforzando su práctica corporativa, una de las más dinámicas de la firma, en un contexto donde las empresas demandan asesoría integral y con enfoque internacional.   En los últimos años, el mercado de fusiones y adquisiciones en el Perú ha mostrado una evolución sostenida, impulsada por la necesidad de las empresas de adaptarse a nuevos entornos regulatorios, acceder a financiamiento y explorar oportunidades de crecimiento. En este escenario, contar con asesoría especializada resulta clave para estructurar transacciones eficientes y sostenibles.   La incorporación de Kiomi forma parte de la estrategia de crecimiento de CMS Grau, orientada a consolidar equipos de alto nivel y seguir posicionándose como una de las firmas legales líderes del país, con una oferta integral de servicios y un enfoque centrado en el cliente.         Sobre CMS Grau CMS Grau es una de las firmas legales más importantes en Perú con más de 90 años de experiencia en asesoría legal integral. Según The Legal 500, CMS Grau se encuentra dentro de las 10 firmas legales más importantes del país. Cuenta con un grupo amplio de profesionales especializados que brindan soluciones innovadoras de acuerdo con las necesidades de sus clientes en más de 20 áreas de práctica. La cultura corporativa de la firma legal ha sabido adaptarse a los tiempos para brindar un amplio espectro de plataformas y soluciones legales innovadoras para sus clientes, teniendo en cuenta su sector y jurisdicción. Para más información, visite cms.law     Contacto de prensa:  Yvanna Bernasconi [email protected] 981 517 935 Tomás Mesía Solano [email protected] 981 517 365    

The international law firm CMS continues to strengthen its Arbitration practice in Ibero-America with the launch of the Ibero-American Arbitration Group (IAG), an initiative that responds to a context in which arbitration has gained increasing relevance in corporate transactions, infrastructure projects, and contracts involving significant technical and financial complexity, particularly in sectors such as energy, construction, mining, telecommunications, and banking. Lima, May 28, 2026 – The growing complexity of business operations and the internationalization of commercial relationships have consolidated arbitration as a key mechanism for resolving disputes that are becoming increasingly complex, cross-border, and with a high economic and reputational impact for companies. In addition, the evolution of business contracts themselves—now increasingly extensive and sophisticated, structured in accordance with international practices and standards, and governed by their own contractual framework—further reinforces this trend. Their proper interpretation requires proven practical experience, as well as a thorough analysis of documentary and expert evidence, which makes arbitration a particularly suitable framework for this type of litigation. In this context, the creation of the Ibero-American Arbitration Group (IAG) by the international firm CMS strengthens an already consolidated and well-recognized arbitration practice in the region, characterized by its strategic approach, sector-specific expertise, and its ability to coordinate teams across multiple jurisdictions. The IAG is led by José María Rojí, partner at CMS Spain, and Rodrigo Campero, partner at CMS Chile, and brings together specialists from CMS offices across Ibero-America. In Peru, the group includes the participation of CMS Grau partners Luis Alberto Liñán and Karina Urquizo, who represent the firm in this regional initiative. The team advises on all stages of arbitration, from drafting and negotiating arbitration agreements to conducting domestic and international proceedings, appearing before courts in support of arbitration, and the recognition and enforcement of arbitral awards. Likewise, its professionals act both as counsel and arbitrators, providing a comprehensive and practical perspective on dispute resolution. One of the main pillars of the practice is its sector-specific focus, with recurring experience in disputes related to sectors such as energy, infrastructure, construction and engineering, banking and financial services, insurance, telecommunications, technology, healthcare and life sciences, real estate and tourism, among others. This specialization allows the team to understand not only the applicable regulatory framework, but also the operational and strategic challenges specific to each industry. The Ibero-American Arbitration Group also promotes close collaboration between CMS offices in Europe and Latin America, strengthening the firm’s ability to provide integrated advisory services in international arbitration and complex cross-border disputes.   END For more information about CMS, visit https://cms.law/es/per/ CMS Grau is a full-service firm with an international reach. In Peru, it has over 90 years of experience and a multidisciplinary team that provides legal advice across more than 20 areas of law, with a practical and consistent approach tailored to clients’ industries and jurisdictions. International directories such as The Legal 500 and Chambers & Partners recognize the firm’s work. Recently, it was nominated as “Peru Law Firm of the Year” at the Chambers and Partners Latin America Awards 2026.   For more information about this press release, please contact:   Jazmin Mateo   External and Internal Communications   Email: [email protected]   CMS impulsa su apuesta por el arbitraje con el lanzamiento de su Grupo Iberoamericano de Arbitraje con presencia en Perú La firma internacional CMS continúa fortaleciendo su práctica de Arbitraje en Iberoamérica con el lanzamiento del Grupo Iberoamericano de Arbitraje (GIA), una iniciativa que responde a un contexto en el que el arbitraje ha adquirido una mayor relevancia en operaciones corporativas, proyectos de infraestructura y contratos de alta complejidad técnica y financiera, especialmente en sectores como energía, construcción, minería, telecomunicaciones y banca. Lima, 28 de mayo de 2026 – La creciente complejidad de las operaciones empresariales y la internacionalización de las relaciones comerciales han consolidado al arbitraje como un mecanismo clave para la resolución de controversias que están siendo más complejas, transfronterizas y con alto impacto económico y reputacional para las empresas. A ello se suma la evolución de los propios contratos empresariales, cada vez más extensos y sofisticados, estructurados conforme a prácticas y estándares internacionales y dotados de un régimen contractual propio. Su correcta interpretación exige una experiencia práctica acreditada, así como un análisis exhaustivo de la prueba documental y pericial, lo que sitúa al arbitraje como un marco especialmente adecuado para este tipo de litigios. En este contexto, la creación del Grupo Iberoamericano de Arbitraje - GIA de la firma internacional CMS refuerza una práctica de arbitraje ya consolidada y reconocida en la región, caracterizada por su enfoque estratégico, conocimiento sectorial y su capacidad para coordinar equipos en múltiples jurisdicciones. El GIA está liderado por José María Rojí, socio de CMS España, y Rodrigo Campero, socio de CMS Chile, y reúne a especialistas de las distintas oficinas de CMS en Iberoamérica. En Perú, el grupo cuenta con la participación de los socios de CMS Grau Luis Alberto Liñán y Karina Urquizo, quienes representan a la firma en esta iniciativa regional. El equipo asesora en todas las fases del arbitraje, desde la redacción y negociación de convenios arbitrales hasta la dirección de procedimientos nacionales e internacionales, la actuación ante tribunales de apoyo al arbitraje y el reconocimiento y ejecución de laudos. Asimismo, sus profesionales actúan tanto como abogados de parte como árbitros, aportando una visión integral y práctica de la resolución de controversias. Uno de los principales ejes de la práctica es su enfoque sectorial, con una experiencia recurrente en disputas vinculadas a sectores como energía, infraestructuras, construcción e ingeniería, financiero y bancario, seguros, telecomunicaciones, tecnología, salud y ciencias de la vida, inmobiliario y turismo, entre otros. Esta especialización permite al equipo comprender no solo el marco normativo aplicable, sino también los retos operativos y estratégicos propios de cada industria. El Grupo Iberoamericano de Arbitraje promueve además una colaboración estrecha entre las oficinas de CMS en Europa y América Latina, fortaleciendo la capacidad de la firma para brindar asesoría integrada en arbitrajes internacionales y disputas complejas de carácter transfronterizo. FIN Para más información sobre CMS visite https://cms.law/es/per/ CMS Grau es una firma full-service con alcance internacional. En Perú, cuenta con más de 90 años de trayectoria y un equipo multidisciplinario que brinda asesoría legal en más de 20 áreas del derecho, con un enfoque práctico y consistente según la industria y jurisdicción de sus clientes. Directorios internacionales como The Legal 500 y Chambers & Partners reconocen el trabajo de la firma. Recientemente, fue nominada como “Peru Law Firm of the Year” en Chambers and Partners Latin America Awards 2026. Para más información sobre este comunicado, por favor, contacte con: Jazmin Mateo Comunicación externa e interna E-mail: [email protected]  

Contact Carolina Cueva Partner Head of Compliance CMS Grau The updated anti-bribery standard introduces new areas of focus: conflicts of interest, compliance culture and climate-related factors as part of the risk context. The publication of the new ISO 37001:2025, the international standard for Anti-Bribery Management Systems, marks the beginning of a mandatory transition process for all organisations certified under ISO 37001:2016. According to the International Accreditation Forum (IAF), the transition must be completed by 28 February 2027 to ensure continuity of certification. For Carolina Cueva, Partner in Compliance and Internal Investigations at CMS Grau, the change is significant: “This is not merely a cosmetic update. ISO 37001:2025 raises the bar for anti-bribery risk management and places greater emphasis on evidence: how risks are managed in practice, how conflicts of interest are prevented, and how genuine the organisation’s culture of integrity really is.” What is changing and why does it matter? The new version introduces enhancements aimed at strengthening the effectiveness of anti-bribery management systems and their integration with corporate governance. One of the most significant changes is the more robust approach to conflicts of interest management, with clearer requirements regarding the identification, monitoring, control and transparency of conflict situations. In addition, the standard reinforces the importance of fostering a strong compliance culture, linking the performance of the anti-bribery management system to leadership, decision-making processes and organisational conduct. “The standard sends a clear message: having policies in place is no longer enough. Organisations must be able to demonstrate that those policies are effective, implemented in practice and actively supported by leadership,” explains Carolina Cueva. A notable new feature is the inclusion of climate change considerations within the organisation’s context and risk assessment process. “This update acknowledges that the operating environment, including climate-related factors, can influence pressures, decisions and risks. It signals the direction in which standards are evolving: compliance that is more integrated, more preventive and more closely connected to the broader context,” she adds. Next steps: the real risk is waiting Although the deadline extends until 2027, specialists recommend starting the transition process early to avoid bottlenecks in follow-up audits conducted by certification bodies. Organisations should also take into account the internal adjustments required to their management systems. Key steps include conducting a gap assessment, updating documentation and controls, and planning the transition with the certification body. “The greatest risk is leaving it until the last minute. Many organisations underestimate the time required to align processes, evidence and internal training. A well-managed transition not only avoids certification-related issues but also strengthens the organisation’s integrity framework.” The ISO 37001:2025 update also presents an opportunity for organisations to review and modernise their anti-bribery prevention programmes through a more integrated and cross-functional approach. “Those who use this transition as an opportunity to strengthen governance and risk management will be better prepared for audits, third-party requirements and increasingly demanding compliance standards,” concludes the CMS Grau Partner.