About

Previously known as Madeco, Invexans was established in Chile in 1944 and today is the largest shareholder in French company Nexans, a world leader in the cables industry. Pedro Parga started his in-house career for the Luksic Group at Madeco in 2006 before being appointed as general counsel of Invexans in 2014, as well as hired by its parent company Quiñenco to work as an in-house counsel. ‘I continue working with both roles and some other minor positions’, he explains. Parga has recently excelled at Invexans by being recently involved in a key international transaction and litigation for the company, both with highly favourable outcomes. For parent company Quiñenco, Parga is able to further contribute on M&A transactions, corporate reorganisations as well as actively participate in tender offer processes in Chile. He highlights how a particularly important project at Invexans gave him the opportunity to develop his skills in this regard: ‘I was part of the sale of the cable unit of the company to Nexans in 2008, valued initially at around US$800m. Since this sale, I have been in charge of the contingencies of the Brazilian subsidiary that were carved-out from the sale, basically tax contingencies, and the administration of that contract with Nexans including an arbitration procedure before New York’s ICC and a mediation process done in Brazil. From that sale, I was also inserted in cross border transactions’. In a another key transaction, Parga was responsible for the legal team on the divestiture and closure process of Madeco’s industrial subsidiaries, namely the sale of Armat, as well as the closure of operations and disposal of assets of Madeco Mills and Indalum. ‘These reorganisation activities gave me a wider knowledge of the Chilean industrial legal environment apart from the day-to-day work’, Parga adds.