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Guerrero Olivos Novoa Errázuriz
The mining and energy sectors are the driving force behind Guerrero Olivos Novoa Errázuriz and competitors have taken notice. "They excel in those sectors," one says. Clients also agree. "Guerrero Olivos Novoa Errázuriz has a deep knowledge in the mining sector, with a long-standing tradition of energy, environmental and regulatory work related with mining projects," one says. "They also have strong experience in financing and M&A related with mining projects. They have successfully helped our company in connection with several different developments and projects in this industry." In July, Pedro Lyon was promoted to partner and is a member of the firm's natural resources team with a specialization in mining and regulatory law.
During 2012, Guerrero Olivos participated in M&A transactions worth more than $8 billion. Clients consider the firm's M&A work as some of the best in the country. "Their experience is not limited to private companies, like ours, but also to public and listed companies," one says. "We had a very difficult case and they really added value to the transaction, making it simple and, at the same time, strong for future eventual challenge." The firm advised Plansee Group in the $240 million purchase of more than 12% of the shares of Molymet, the largest molybdenum processor in the world. Guerrero Olivos has been advising Indian multinational power company NSL on the $571 million purchase and development of three wind projects in southern Chile. In December 2012, the firm advised Compañia General de Electricidad (CGE) on the $480 million sale of Ibener. Ibener owns the 140MW installed hydroelectric generators Peuchen and Mampil on the Duqueco River.
Guerrero Olivos' banking practice is three decades old and was relatively active last year. The firm is representing Banco BCI and its affiliates in a series of negotiating ISDA agreements and corresponding credit support annexes of derivative transactions. The transaction is valued at over $15.8 billion. In October, the firm advised Empresas Carozzi in a $60 million credit facility from Banco Itau and energy producer Guacolda in a $318 million financing for an expansion project based on a PPA with a mining company.
The firm's capital markets team advises more than 330 foreign funds, the best known of which include BlackRock, Edmond de Rothschild, Morgan Stanley, Franklin Templeton and Sociéte Generale. A competing partner says: " They are very active and well known in capital markets. That's the core of their strength." The team is advising BCI Corredor de Bolsa on the bankruptcy of Alfa, a domestic broker dealer. The owners of the brokerage filed for the annulment of certain repo transactions done in the Santiago Stock Exchange. The creditors of Alfa are contesting this annulment. In June, the firm advised multinational energy producer Enersis on the validity of a proposed capital increase the company is considering. Should they follow through, it will be one the highest-ever capital increases in Chile. Guerrero Olivos is advising global money manager BlackRock on several regulatory processes before Chilean authorities. The firm has obtained approval for 20 mutual funds and exchange-traded funds (ETFs). Five additional ETFs are being analysed for registration upon approval. The transaction is worth $180 billion.
Guerrero, Olivos, Novoa y Errázuriz
Av. Vitacura 2939, Piso 8
Las Condes 7550011
Tel: +56 2 6742900
Fax: +56 2 6742901
Guerrero, Olivos, Novoa y Errázuriz is a leading law firm in Chile with more than 30 years of experience representing clients in domestic and international markets alike. The firm was founded by some of Chile's best legal talent. Today, this tradition of excellence continues as the firm composes itself as a team of experts in civil, commercial and business law.
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