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Pérez Correa González

Pérez Correa González

Mexico City, Mexico
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Deals

Pérez Correa González (PCG) represented Swvl in its expansion with the acquisition of Urbvan, the mass transportation technology platform

The legal team that represented Swvl was led by Fernando Eraña, a partner in PCG’s Venture Capital practice, and by associates Carlos Ugalde and Eduardo Yrigoyen.

Mexico City, July 18, 2022.- Pérez Correa González (PCG) represented Swvl, a global provider of technology-enabled solutions for private transportation, in its expansion in our country, who announced a definitive agreement through which they acquired Urbvan Mobility Ltd.

Urbvan provides technology transportation services with a presence in Latin America. This expansion is intended to improve both the quality of life and safety standards of bus travel over vast geographic distances throughout the region.

Swvl and Urbvan are committed to providing affordable and efficient transportation options free from harassment and other unsafe conditions. According to Swvl, Urbvan already operates in 18 cities in Mexico. This acquisition contributes to Swvl’s mission of providing safer, faster, smarter, and more affordable public transportation for everyone in Latin America.

Swvl’s legal team was led by Fernando Eraña, a partner in PCG’s Venture Capital practice, and by associates Carlos Ugalde and Eduardo Yrigoyen. The transaction closed on July 11 of this year.

Pérez Correa González advised Sportium during Northgate Capital’s investment process.

The law firm Pérez Correa González (PCG) represented and advised Sportium to enable Northgate Capital to invest capital into the Mexican company.

Mexico City, June 22, 2022.- Law firm Perez Correa Gonzalez (PCG) represented Sportium, a leading operator of family fitness and sports centers in Mexico City, during the legal process to bring about Northgate’s fifth investment from its second Growth Equity Fund in Mexico, which expects to benefit from the strong and sustained recovery in Mexico’s consumer and fitness sector.

Northgate Capital, the international private equity firm, announced an investment in Sportium, through which the Mexican company will strengthen its goal of remaining one of the leading sports and family fitness centers in Mexico City, thanks to its unique offering. According to recent data, the company has shown a sustained increase in user attendance, reaching more than 90% of pre-pandemic levels.

The firm will continue to advise Sportium in its legal and commercial operations in Mexico, as well as the negotiation and legal structure to enhance the brand and increase its presence within the fitness industry.

Perez Correa Gonzalez (PCG) advises Semtech Corporation on the sale of Semtech Corpus Christi Corporation to Micross.

The company announced that it completed the sale of its high reliability diode business to Micross Components, Inc. for USD $30 million in an all cash transaction.

Mexico City, May 3, 2022.- Perez Correa Gonzalez y Asociados (PCG) advised Semtech Corporation on the sale of its subsidiary Semtech Corpus Christi Corporation’s business in Mexico.

Semtech Corporation is a publicly traded company listed on the Nasdaq Stock Exchange (SMTC) and a leading global supplier of advanced algorithms and high-performance analog and mixed-signal semiconductors. Its subsidiary was acquired by Micross Components, Inc. (“Micross”), a provider of advanced microelectronics services and die and wafer components, to enhance the growth of that part of its business.

The Company announced that it completed the sale of its high reliability discrete diode production business to Micross for USD $30 million in an all-cash transaction.

Revenues for the last year in this business were approximately USD $14 million. It is worth mentioning that the more than 200 plant employees located in Reynosa, Tamaulipas will continue to work in this new stage of the company under Micross’ command.

“It was an honor to have Semtech Corporation’s trust and to work along its management team, led by its Vice President Charles B. Ammann, and O’Melveny & Myers’ exceptional legal team, led by Eric Zabinski and Alexandra Piarino, in the Mexican portion of this interesting and relevant transaction for this business sector,” said Omar Aguilar, partner at Perez Correa Gonzalez (PCG).

This transaction was also supported by KPMG Corporate Finance LLC and O’Melveny & Myers LLP.

Pérez Correa González (PCG) advises GEAR Alimentos and RUBE Alimentos in their assets selling process to Agrofibra

 The sale of mobile and real estate assets by GEAR Alimentos and RUBE Alimentos to Agrofibra had a value of $20 million dollars.

Mexico City, January 10, 2023.- The law firm Pérez Correa González (PCG), advised and represented GEAR Alimentos S.A de C.V. and RUBE Alimentos S.A de C.V. in the negotiation process for the sale of its assets to Agrofibra. The transaction successfully concluded on December 23, 2022and reached a total value of $20 million dollars.

The deal included the sale of assets, mobile and real estate, from both companies, which received a mix of cash and CBFIs issued by Agrofibra. This transaction expands Agrofibra’s properties rental portfolio in Mexico.

GEAR Alimentos and RUBE Alimentos are companies specialized in the production, packaging, and distribution of tomatoes for export to the US market. Agrofibra is the first agri-food Real Estate Investment Trust (FIBRA) in Mexico, it seeks to provide investors with value generation through the acquisition of real estate investment opportunities in the agri-food sector in locations with potential to provide high capital gains and profitability.

The legal team that represented GEAR Alimentos and RUBE Alimentos was led by Omar Aguilar and Fernando Pérez Correa partners at Pérez Correa González (PCG).

Pérez Correa González (PCG) advised Olarena Hospitality Group in the negotiations with Mextenis to hold Los Cabos Open Tennis Tournament at Cabo Sports Complex.

The legal team representing Olarena Hospitality Group was led by Omar Aguilar and Fernando Pérez, partners of the Firm.

Mexico City, August 8, 2022. – The law firm Pérez Correa González advised and represented Olarena Hospitality Group, one of the most prestigious luxury hotel chains worldwide and recognized in different tourist cities in several countries, in the negotiation with Mextenis to hold the Los Cabos Open Tennis Tournament (ATP 500) in the facilities of Cabo Sports Complex (“CSC”) located in the tourist corridor of Los Cabos. The venue offers, among many other amenities, an esplanade of approximately 10,000 m2 suitable for entertainment, cultural and concert events.

Olarena Hospitality Group is formed by a group of visionary investors, with a track record of more than 20 years in the hospitality industry, who have developed a successful business model, therefore, the purpose of this event was to promote this venue to be increasingly recognized as a sport, social and entertainment reference in Mexico.

Olarena Hospitality Group develops iconic properties of high value, which deliver extraordinary experiences and generate a feeling of home for our owners and guests to enjoy most of the heritage and time they share with their loved ones.

The participation of the Group’s ship flags, Solaz (The Luxury Collection) and Hacienda del Mar (Autograph Collection), will be crucial in the consolidation and expansion of the sports and entertainment project.

The legal team representing Olarena Hospitality Group was led by Omar Aguilar and Fernando Perez, partners of the Firm.

Pérez Correa González advised U.S. International Development Finance Corporation (DFC) in the Mexarrend (Tangelo) financing process.

Law firm Perez Correa Gonzalez (PCG) represented and advised DFC in the financing structuring for Tangelo in the benefit of Mexican SME´s.

Mexico City, July 22, 2022 – Law firm of Perez Correa Gonzalez (PCG) represented U.S. International Development Finance Corporation (DFC) in securing the first disbursement of USD$10.2 million to Tangelo under a USD$45 million credit facility, a technology company specializing in alternative lending. This financing will be used to benefit Mexican SME´s and their economic development. PCG also represented DFC in the negotiation and structuring of the credit facility, which was approved in October 2020.

DFC is the development bank of the United States. DFC partners with the private sector to provide financial solutions to address the most critical challenges that emerging markets face, investing in sectors including energy, healthcare, critical infrastructure, and technology. DFC’s investments adhere to high standards of environmental protection, human and employee rights.

Tangelo is a LATAM technology company specialized in alternative lending with more than 25 years of experience developing financial solutions for local SME’s. Tangelo resulted from the merger of Mexarrend, S.A.P.I. de C.V. with Zinobe In order to transform the access to credit in Latin America.

The PCG team was led by Fernando Eraña, partner of the Banking and Finance practice at PCG, and senior associate Carlos Ugalde.

Pérez Correa González (PCG) represented Landsteiner Scientific, S.A. of C.V. to obtain an important financing agreement.

The legal team was headed by Fernando Pérez Correa and Zulima González, partners in the firm’s bankruptcy practice.

 Mexico City, October, 2022.- The law firm Pérez Correa González represented Landsteiner Scientific, one of the largest and most important pharmaceutical companies in Mexico, to obtain financing, better known as DIP Financing, for up to $400,000,000.00 MXN within the commercial bankruptcy procedure to which said company is subject, these transactions were closed on August 18, 2022.

Landsteiner is a leading pharmaceutical company in the development, manufacture and marketing of medicines, biotechnology and other goods for the health sector.

The laboratory was declared bankrupt in March of this year, and its insolvency process is one of the most important at the moment in Mexico, since it has a great impact on the health industry, since it is one of the main providers of Medications of the Mexican Government.

The legal team was headed by Fernando Pérez Correa and Zulima González, partners in the firm’s bankruptcy practice.

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Welcome to Pérez Correa González

We are a Mexican law firm formed by a solid and highly qualified team of professionals with more than 25 years of experience, representing a wide diversity of clients, a variety of public and private companies, governmental agencies, investment funds and NGOs.

We have clients from North America, Europe and Asia who wish to do business in Mexico or who have faced a dispute, whom we have successfully represented in the resolution of disputes through litigation, arbitration, bankruptcy and insolvency proceedings.

At Pérez Correa González we are committed to the ideas and criteria of ESG, which is why we promote the implementation of policies aimed at environmental protection, labor welfare, non-discrimination and inclusion, as well as the positive social impact resulting from business activity. In this ever-changing world, we understand that companies need to become more dynamic and must adapt their operations and decision making at a faster pace to become more demanding and responsible in meeting ESG goals.

Our services comprise: Arbitration, Banking and Finance, Private Equity and Venture Capital, Corporate, Administrative Law and Government Procurement, Mergers and Acquisitions, Real Estate, Litigation, Mediation as well as Intellectual Property.

Whitepapers and Articles

New courts for commercial insolvency proceedings, a golden opportunity, Expansión, Mexico City, 2022.

“From now on, any insolvency proceeding filed anywhere in Mexico will be heard by one of the two new courts, regardless of the state in which the petition or lawsuit is filed,” says our partner, Fernando Pérez Correa. (Spanish only)

https://bit.ly/430lwsF 

Why Mexican companies go to U.S. courts for insolvency proceedings, Expansión, Mexico City, 2022.

Our partner, Fernando Pérez Correa, explains the reasons why Mexican companies make the decision to go to the U.S. for an insolvency proceeding (Spanish only).  https://bit.ly/43r0WBP

Towards a more efficient and effective insolvency proceeding. An urgent first step: The appeal for revocation must disappear, ANADE, Mexico City, 2021.

Our partner, Fernando Pérez Correa, talks to us about the appeal for revocation in ANADE magazine, where he explains what it is and its characteristics (Spanish only).  https://bit.ly/3BR7ttB

Altán Redes and Interjet, two different scenarios for insolvency proceedings, Expansión, Mexico City, 2021.

The absence of specialized courts in commercial matters makes this process extremely complicated when an obstacle arises and more and more companies prefer to do it in the United States, says our partner, Fernando Pérez Correa (Spanish only).  https://bit.ly/3OAZPLn

Arraigo del deudor in the insolvency proceeding, Legal Industry Reviews, Mexico City, 2023.

Our partner, Zulima González and our associate, María Fernanda García state that “the arraigo will be issued against those who are responsible for the administration of the company, for the sole purpose of preventing them from leaving the place of the debtor’s domicile”. (Spanish only).   https://bit.ly/3BS0P6k

What happens with the legal representation of the Merchants in the Bankruptcy stage, Legal Industry Reviews, Mexico City, 2023.

“It is considered that the legal representation of the Merchants should continue with respect to the requirements made by the Bankruptcy Court specifically to the Merchants and the representation for the defense of their human rights,” commented our partner, Zulima González and our associate, María Fernanda García. (Spanish only). https://bit.ly/3qcUvUg

Is it legally possible to approve a bankruptcy agreement if there are appeals against the Credit Recognition Judgment pending to be resolved?, Legal Industry Reviews, Mexico City, 2022.

“There are questions about the validity and effectiveness of the bankruptcy agreement that have been left to the discretion of the Courts, for example, the possibility of approving the aforementioned agreement despite the existence of appeals against the Judgment of Recognition of Credits pending to be resolved”. Our partner, Zulima González, in collaboration with our associate, Mileva González, wrote this article for the magazine Legal Industry Reviews, in which they talk about whether it is legally possible to approve an insolvency agreement if there are appeals against the Judgment of Recognition of Credits pending to be resolved. (Spanish only). https://bit.ly/43oTgje

What do women face in the practice of insolvency law?, Expansión Mujeres, Mexico City, 2022.

Zulima González, our partner, explains the challenges of being a woman in the world of insolvency in Mexico. (Spanish only). https://bit.ly/3pYp14e

Can a civil company be considered a merchant in order to be declared in insolvency proceedings, Legal Industry Reviews, Mexico City, 2022.

“If a company habitually performs acts of commerce it will acquire the character of a merchant, we would find ourselves in the situation of irregular mercantile companies”, comments Zulima González, our partner of Concursos Mercantiles.  (Spanish only).  https://bit.ly/3MR9dcx

The graduation of consumer claims in insolvency proceedings, Legal Industry Reviews, Mexico City, 2022.

Our partner, Zulima González, talks to us about the graduation of consumer credits in a commercial bankruptcy. (Spanish only). https://bit.ly/45s9ytx

The constitutionality of the debtor’s prohibition to pay overdue obligations in a reorganization proceeding, Legal Industry Reviews, Mexico City, 2022.

Our partner, Zulima González, talks about this precautionary measure that protects the solvency, liquidity and equity of a company. (Spanish only)  https://bit.ly/3ODYymS

El orden del pago de los créditos en un concurso mercantil, Legal Industry Reviews, Mexico City, 2022.

“…Article 4 of the Commercial Insolvency Law states that creditors are those who acquire such character by virtue of the judgment of recognition, graduation and priority of credits issued within the insolvency proceeding”, comments our partner, Zulima González.  (Spanish only).  https://bit.ly/43l0PHD

Obtaining financing within bankruptcy proceedings, Legal Industry Reviews, Mexico City, 2022.

“The regulation for debtor companies to obtain new financing once they are subject to a bankruptcy proceeding was introduced in Mexico in the January 10, 2014 reform to the Commercial Bankruptcy Law,” notes our partner, Zulima González.  (Spanish only).  https://bit.ly/3olIT11

– Is insolvency proceedings an option for SMEs in crisis, Expansión, Mexico City, 2021.

The laws that regulate judicial insolvency proceedings were designed to resolve the financial crises of large companies, recalls Zulima González, our partner. (Spanish Only).  https://bit.ly/3qa6SR2

Tax advantages of joint ventures in Mexico, IDC Online, Mexico City, 2023.

“One of the most important elements is the tax treatment given to the proceeds of that investment (obtained through the operation of the business) in the jurisdiction of origin, but it is not the only one,” explains our partner, Omar Aguilar. (Spanish only). https://bit.ly/45oUywy

Circular Economy Law, an ESG legal boost, IDC Online, Mexico City, 2022.

“Consumers increasingly committed to respecting the environment are demanding that the products they buy have less negative and polluting impact on the planet,” writes Ulises Moreno, our administrative law and government relations partner. (Spanish only).  https://bit.ly/3MRMOvN

ESG, how to go beyond compliance, IDC Online, Mexico City, 2022.

“Today, ESG practice requires its participants to make a comprehensive commitment to the environment and to the treatment of people inside and outside the business organization,” says our Administrative Law and Government Relations partner, Ulises Moreno. (Spanish only). https://bit.ly/3qazdHe

ESG does not justify the means, IDC Online, Mexico City, 2022.

“For ESG it is not only important what you do, but how you do it, because it is not enough that the final product of the business activity is environmentally friendly,” says Ulises Moreno, our partner in administrative law and government relations. (Spanish only).  https://bit.ly/3Mw4BqX

ESG, the practice that cannot be postponed, Expansión, Mexico City, 2022.

Our partner, Ulises Moreno, explains that “this new business vision seeks to promote greater care for the environment and respect for people’s human dignity through policies of inclusion and non-discrimination”.  (Spanish only). https://bit.ly/3oq4aqa

ESG, the practice that cannot be postponed, Expansión, Mexico City, 2022.

Our partner, Ulises Moreno, explains that “this new business vision seeks to promote greater care for the environment and respect for people’s human dignity through policies of inclusion and non-discrimination”. (Spanish only). https://bit.ly/3MShuNu

Medidas Cautelares Ex parte en el Procedimiento Arbitral, Foro Jurídico, Ciudad de México, 2023.

“The difficulties encountered in arbitration to recognize and enforce interim measures issued ex parte, make going to the state jurisdiction to request measures in support of arbitration an option with a higher probability of success in the results sought.”  (Spanish only)  https://acortar.link/cqtaXP

Crecimiento empresarial a partir de fusiones y adquisiciones, IDC Online, Ciudad de México, 2023.

“Mergers and acquisitions are a strategy that many companies use to achieve growth and improve their market position. Although this practice can provide numerous advantages, (…) there are also challenges and risks associated with them.” (Spanish only).  https://acortar.link/nSY7UD

El mercado de fusiones y adquisiciones (M&A) acelera su modernización en México, Expansión, Ciudad de México, 2022.

“The current M&A market landscape has not only had a myriad of innovations and modernizations, but has also brought with it multiple opportunities for those who have been able to identify and take advantage of them.”  (Spanish only). https://acortar.link/PItYxI

Nearshoring, la transición del “Made in China” al “Hecho en México”, IDC Online, Ciudad de México, 2023.

“For Mexico, nearshoring represents a historic and unique opportunity, since the arrival of new foreign investment boosts the Mexican economy and job creation, turning the country into a center of trade and integral development.”  (Spanish only).  https://acortar.link/w0wwfR

El arraigo del deudor en el Concurso Mercantil, Legal Industry Reviews, Ciudad de México, 2023.

“Arraigo shall be dictated against those who are responsible for the administration of the company, for the sole effect that they cannot separate from the place of the debtor’s domicile.” (Spanish only).  https://acortar.link/s8y3MU

¿Qué sucede con la representación legal de las Comerciantes en la etapa de Quiebra?, Legal Industry Reviews, Ciudad de México, 2023.

“It is considered that the legal representation of the traders should continue with respect to the requirements made by the Bankruptcy Court specifically to the Traders and the representation for the defense of their human rights.”  (Spanish only).  https://acortar.link/EFZnzr

Rezago judicial, ¿responsabilidad única de los tribunales?, Expansión, Ciudad de México, 2023.

“The judicial backlog is a problem that the Mexican judicial system has been facing for several years now and that has increased due to the COVID-19 pandemic.” (Spanish only). https://acortar.link/oOQx7V

¿Es jurídicamente posible aprobar un convenio concursal existiendo recursos de apelación en contra de la Sentencia de Reconocimiento de Créditos pendientes de resolver?, Legal Industry Reviews, Ciudad de México, 2022.

“There are questions on the validity and effectiveness of the bankruptcy agreement that have been left to the discretion of the Courts, for example, the possibility of approving the aforementioned agreement despite the existence of means of challenge against the Judgment of Recognition of Credits pending to be resolved.”  (Spanish only).  https://acortar.link/Dd1Yqq