Press Releases

Caja Los Andes secures loan for social financing in Chile Isabella Ankerson 12 December 2023 Linklaters in New York and Carey in Santiago have helped Chilean non-profit social security compensation fund Caja Los Andes obtain a credit facility worth US$145 million. A syndicate of banks, featuring HSBC and Banco Santander, enlisted Cuatrecasas (Chile) in the deal. Latin Lawyer understands that Milbank also advised lenders in the transaction but could not confirm this before publication ...

Carey stars in IP pharma sale for LatAm brands Isabella Ankerson 05 December 2023 Carey has advised Pennsylvania-based pharmaceutical company Viatris on the Chilean aspects of its divestment of intellectual property rights regarding several of its brands in Latin America, which it sold to South Africa’s Aspen Pharmacare for US$280 million ...

HSBC issues first perpetual bonds in Chile Elliott Hodgkin 30 November 2023 Carey has helped HSBC Chile make the first-ever issuance of perpetual bonds in the local market. No other firms were involved in the deal, which closed on 25 October for US$35 million. The issuance comes with a 10.25% coupon and no maturity date. As a result, the bonds will stay in the market as long as HSBC continues to pay the established interest rate ...

Mainstream completes Chilean restructuring with US$1.6 billion deal Isabella Ankerson 30 November 2023 Five White & Case LLP offices and Carey in Santiago have helped Irish energy company Mainstream Renewable Power complete the judicial reorganisation for two of its Chilean subsidiaries by restructuring US$1.6 billion worth of debt ...

IDB Invest lends US$255 million to MSMEs in Chile Lily Squires 28 November 2023 Chile’s Banco Internacional has enlisted Carey in Santiago to obtain a US$255 million credit line from IDB Invest to help fund local micro, small and medium enterprises (MSMEs). The lender relied on Clifford Chance LLP in Washington, DC and Chile’s Claro & Cía. Latin Lawyer understands that US firm Paul Hastings LLP also advised the borrower, but this could not be confirmed before publishing ...

Codelco and Rio Tinto ink copper JV Isabel Leask 23 November 2023 Carey in Santiago has helped Chilean mining giant Codelco enter into a joint venture with British-Australian counterpart Rio Tinto to develop copper mining assets in Chile’s northern desert region of Atacama. Cariola Díez Pérez-Cotapos in Santiago advised Rio Tinto in the deal which closed on 6 November. No value was disclosed ...

US fruit group grows LatAm presence with double purchase Isabel Leask 08 November 2023 Multiple firms have helped US fruit group Frutura acquire two agribusinesses in Chile and the US respectively, including its berry-growing operations across Latin America. In the first acquisition, Carey in Santiago, Ibarra, del Paso Gallego, SC in Mexico City, and Payet, Rey, Cauvi, Pérez Abogados in Lima helped Frutura buy Santiago-based fruit and berry company Giddings Fruit ...

Codelco enters lithium sector with Australian buyout Isabella Ankerson 24 October 2023 Two Allens offices, Carey in Santiago and Deloitte Legal (Chile) have helped Chilean copper giant Codelco make its first foray into the lithium industry by purchasing Australia’s Lithium Power International for US$244 million. Ashurst LLP in Perth and Philippi Prietocarrizosa Ferrero DU & Uría (Chile) advised Lithium Power in the deal ...

Carey helps NGO preserve Patagonian land in conservation buy Isabel Leask 22 September 2023 Carey has helped Bermuda-headquartered environment-focused NGO the Freyja Foundation acquire an area of native forest located in Chile’s southern Cochamó Valley. The three-square-kilometre plot of land was sold by US-Chilean conservation company The Real Eco State and its CEO Felipe Escolona. AT Abogados advised Escolona through his real estate business Escalona y Compañía ...

Chile’s Codelco makes US$2 billion issuance Isabella Ankerson 18 September 2023   Cleary Gottlieb Steen & Hamilton LLP in New York and Carey in Santiago have helped Chilean copper company Codelco raise US$2 billion in a debt issuance. Three offices of Linklaters and Garrigues (Chile) advised the underwriters in the deal, which closed on 8 September. Codelco made the issuance in two tranches. In the first portion, it issued notes worth US$1.3 billion with an interest of 5 ...

Sonnedix buys solar plants from Enel Chile Davide Montagner 26 July 2023 Morales & Besa has helped multinational renewables company Sonnedix acquire four solar plants from Italian energy company Enel and its Chilean subsidiary for US$550 million. Carey in Santiago advised the seller in the sale agreement, which is pending approval from Chilean antitrust regulator Fiscalía Nacional Económica. The parties signed the deal on 12 July ...

Several LatAm firms ink US$1.5 billion cross-border insurance buy Lily Squires 05 June 2023 Hogan Lovells LLP has acted as lead counsel for insurance group HDI International in its acquisition of the Latin American business of Liberty Mutual Insurance for nearly US$1.5 billion, a deal that includes assets in Brazil, Chile, Colombia and Ecuador ...

Carey and DLA Piper guide LarraínVial pharma buy Lily Squires 02 June 2023 Carey has helped Chilean investor LarraínVial buy local pharmacy chain Farmacias Ahumada from Wallgreens Boots Alliance, a US-UK holding company that invests in the pharmaceutical sector. The seller and target relied on DLA Piper (Chile). The deal was signed on 16 May for an undisclosed amount ...

Codelco raises US$900 million in debt tap Elliott Hodgkin 09 February 2023 Cleary Gottlieb Steen & Hamilton LLP in New York and Carey in Santiago have helped Chilean copper company Codelco issue US$900 million worth of notes. Linklaters in New York and London and Garrigues (Chile) represented the underwriters for the deal, which closed on 2 February. The debt was issued with a 5.125% interest rate and a maturity date of 2033 ...

AES Andes and Codelco ink renewables PPA in Chile Elliott Hodgkin 27 January 2023 Claro & Cía has helped Santiago-headquartered energy group AES Andes sign a power purchase agreement (PPA) with state-owned mining giant Codelco for the supply of renewable energy to two local mines. Carey advised Codelco on the deal, which was signed on 30 December for a confidential amount ...

Canadian pension fund eyes public takeover of Chile’s Hortifrut Elliott Hodgkin 11 January 2023 Linklaters in New York, Carey in Santiago and Rodrigo, Elías & Medrano Abogados in Lima have helped Canadian pension fund manager PSP Investments launch a tender offer to buy the entire public shareholding of Chilean fruit company Hortifrut for US$660 million ...

Several firms steer cross-border data centre buy Lily Squires 03 January 2023 Four Vinson & Elkins LLP offices, Brazilian firm Stocche Forbes Advogados, Colombia's Posse Herrera Ruiz, Mijares, Angoitia, Córtes y Fuentes SC in Mexico City and Uruguay's Posadas have helped data centre operator Aligned acquire Latin American-focused counterpart ODATA from Brazil’s Patria Investimentos and US IT company CyrusOne ...

Enel sells Chilean transmission business for US$1.4 billion Lily Squires 22 December 2022 Arteaga Gorziglia in Santiago has helped Chile’s Sociedad Transmisora Metropolitana (STM) acquire the local electricity transmission subsidiary of Italian energy giant Enel for US$1.4 billion. Carey in Santiago advised the seller in the divestment of Enel Transmisión Chile. STM carried out a public offer for its acquisition of a 99% equity stake in Enel Chile’s transmission business ...

LatAm firms help UPS seal Bomi acquisition Davide Montagner 22 December 2022 A slew of international and Latin American firms have helped US delivery company UPS finalise its acquisition of Italian healthcare logistics group Bomi ...

Chilean firms lead fintech investment round Elliott Hodgkin 15 December 2022 Carey has helped Chilean fintech Kredito raise capital through an investment round led by Santiago-headquartered conglomerate Grupo Penta. Alcaíno Abogados advised Penta and its banking subsidiary Penta Financiero, which also participated in the funding round ...

Mexico’s Axo grows LatAm presence with retail acquisition Elliott Hodgkin 08 December 2022 Mexican retailer Grupo Axo has enlisted Carey in Santiago, Mexican firms Creel, García-Cuéllar, Aiza y Enríquez SC and SMPS Legal, Peru's Rebaza, Alcázar & De Las Casas in Lima and Guyer & Regules in Montevideo to acquire Chilean clothing company Komax. SMPS Legal advised Axo only on tax matters in the deal ...

Colbún and Codelco renegotiate PPA in Chile Elliott Hodgkin 22 November 2022 Barros & Errázuriz Abogados has helped Chilean power company Colbún renegotiate its power purchase agreement (PPA) with state-owned copper miner Codelco. Codelco turned to Carey for the deal, which was signed on 27 October for an undisclosed amount. Colbún has agreed to gradually phase out the coal-based energy it provides to Codelco by the end of 2025 and replace it with emissions-free power ...

Chilean solar group signs PPA with Enel Lily Squires 16 November 2022 Carey has helped Madrid-based renewables company Grupo Fotones sign a power purchase agreement (PPA) with the Chilean branch of Italy’s Enel. The Italian energy group relied on its in-house legal team for the deal, which was signed on 27 October. The value of the deal was not disclosed. Through the agreement, Enel will purchase power generated from Fotones’ Libertad solar project in Chile’s desert region of Atacama ...

LATAM completes Chapter 11 Lily Squires 09 November 2022 A slew of US and Latin American firms have helped LATAM Airlines exit from its Chapter 11 proceedings, putting an end to a landmark cross-border restructuring that began over two years ago ...

Brookfield acquires majority stake in Chilean solar power group Lily Squires The renewable energy branch of Canadian asset management fund Brookfield has turned to Carey to acquire a majority stake in Chilean solar project company Solarity. Prieto advised the seller, Chilean energy-focused holding company Light E, while the Solarity’s co-founders, Horacio Melo and José Luis Carvallo, enlisted Echeverría Ilharreborde Scagliotti. The deal closed on 17 March for an undisclosed amount ...