Most Highly Regarded Firms: Argentina 2008 - Mergers & Acquisitons
Despite the recent difficult times for the economy in Argentina - as well as the ongoing effects of the global credit crunch - the country is home to high levels of transactional legal expertise and several outstanding practitioners in this area. Our research picks out 26 lawyers who should be considered leaders in the field, and they are drawn from 13 firms.
Chief among these - in terms of numbers of partners we feature - are Marval O'Farrell & Mairal and Pérez Alati Grondona Benites Arntsen & Martinez de Hoz (Jr), "two of the powerhouses of Argentina corporate law". Each has four partners listed. Marval O'Farrell & Mairal is recognised for its work in relation to inward and outward investment, due diligence, joint ventures, spin-offs, regulatory matters and all other types of transactional work. Héctor Mairal is "without doubt one of the pre-eminent lawyers in Argentina" in the eyes of our sources. This "outstanding lawyer" is particularly well known for his advice on transactions relating to oil and gas, and has advised national and international companies on company mergers, purchases and sales of banks and businesses, business alliances and several further matters. He is a "legend in his own lifetime", and garnered votes from around the globe. Alfredo O'Farrell is similarly revered. Recognised for his work across a range of corporate sectors including M&A, privatisations, shareholder disputes and antitrust, he "stands comparison with anyone". Roberto Silva Jr is regarded as "one of the brightest of the younger generation of stars" and was praised by clients both domestically and internationally. The "excellent" Alejandro Fiuza completes the quartet and is a former professor of commercial law and international business transactions at the University of Buenos Aires.
Pérez Alati Grondona Benites Arntsen & Martinez de Hoz (Jr) has a track record of representing clients such as Motorola, Banco Santander Central Hispano, Total, BP Amoco, GE Capital, Southern Electric, Hewlett Packard and France Télécom in M&A transactions, and in 2002 it participated in the largest deal ever to have taken place in Argentina when it represented Petrobras in the acquisition of energy company Pérez Companc. Jorge Pérez Alati has a "justifiably strong reputation" as a leader in this field, while Mariano Florencio Grondona is a former member of the board of directors of the Argentine Central Bank and a "formidably skilled operator". Jose Martinez de Hoz Jr was repeatedly commended to researchers for his energy related M&A practice, while Alan Arntsen was recognised internationally for the breadth and quality of his corporate practice.
Estudio Beccar Varela is widely recognised for its financial expertise, and has counselled sellers and purchasers of banks, insurance companies and pension administrators, as well various clients in the industrial, commercial and service sectors. Damián Beccar Varela is "extremely well respected" by his peers, while Alberto María Lasheras Shine is "firmly established as a leading authority". Roberto Horacio Crouzel is a "star", according to our sources, and secures a place among the leading players in the field.
Lawyers from Bruchou Fernández Madero & Lombardi have transactional experience ranging across sectors including banking, insurance, pension funds, health care and retail and have undertaken corporate work for clients including Arcor, Caterpillar, Mitsubishi and Petrobras Energía. Three partners appear in this chapter. Founder and senior partner Enrique Bruchou has a track record that includes the acquisition of Banco Río de la Plata SA - the largest Argentine commercial bank at the time - by Banco Santander of Spain; the acquisition of the largest Argentine food company, Molinos Río de la Plata SA by the Pérez Companc Family Group; and the first hostile takeover in Argentina: Repsol/YPF. Jaime Fernández Madero is "absolutely superb" with deals such as the acquisition of the Roberts Group by HSBC on his CV, and Javier Ayuso was the subject of high praise from clients: "He offered valuable advice that helped close the deal, and consistently went the extra mile to ensure we closed on schedule and with all the documentation in order. I don't hesitate to recommend him."
Roberto Silva is one of three partners from Hope Duggan & Silva on our list and a "tremendous practitioner". Juan Duggan is regarded as an "excellent transactional lawyer", the possessor of a "keen legal mind that he applies in a very practical way to difficult business and legal situations." Javier Zapiola is also well known for this type of work, and received votes from our sources in Argentina and beyond.
Máximo Luis Bomchil, managing partner of M & M Bomchil, is another "celebrated figure in Argentine corporate law" and an "authority on M&A". His firm has recently advised VLG Acquisition and Liberty Media in the sale of VLG Argentina LLC, owner of 50 per cent of Cablevisión, a major local cable operator, as well as Goldman Sachs in the acquisition of Pirelli's electric cables business and Pernod Ricard in the domestic aspects of its worldwide integration with Allied Domecq. Marcelo Bombau heads the firm's M&A department, and is viewed as the "go-to guy for media and entertainment related deals" in particular.
Alfredo Rovira gives Brons & Salas a presence in this chapter, and his reputation "extends throughout Argentina and worldwide". This "eminent" lawyer also appears as a leader in two further chapters of this book.
Juan Javier Negri of Negri & Teijeiro Abogados is also highly rated. The firm has represented clients such as Wal-Mart Stores, HSBC Private Equity Latin America and DB Capital Partners in recent M&A activity, as well as regional Coca-Cola bottler Embotelladoras del Atlántico and Holcim Ltd, the world's largest cement conglomerate, on the acquisition of control of Juan Minetti and its subsequent merger with Corcemar.
Estudio O'Farrell has a "fantastic track record in this field" that includes the merger between the oil companies Astra Capsa, Compañía General de Combustibles and Isaura, and the purchase by ICI of the chemical business units of Unilever. The "versatile" Uriel Federico O'Farrell is a "definite for inclusion on any list of the best".
Ortiz y Asociados is another firm with a strong profile in this area and a successful background in transactions in the pharmaceutical, telecommunications and wine industries to name but three, and its clients include American Express, AT&T Corporation, Ernst & Young, Global Crossing, Kraft Foods and IBM Corporation. Managing partner Jorge Daniel Ortiz stood out as "pragmatic and very business oriented", and earns a place on this list.
Osvaldo Marzorati is of counsel to Allende & Brea and an "encyclopedic source of knowledge on corporate law", while Cristian Mitrani leads the corporate practice at Mitrani Caballero Ojam Abogados and is viewed our sources as "one of the best in Argentina". He is particularly well known for his "top class" work on behalf of Tenaris, including on its acquisition of US firm Hydril and subsequent sale of its pressure control business to General Electric, as well Tenaris's acquisition of the United States' Maverick Tube.
Luis Erize of Abeledo Gottheil Abogados SC is also highly thought of. He is regarded as a "tough and effective negotiator", and his work in the oil and gas sector in particular was repeatedly pointed out to us.
Alfaro-Abogados has offices in New York, London and Madrid as well as in Buenos Aires, and its reputation for "outstanding corporate work" extends far and wide. Carlos Alfaro is well known and similarly highly regarded, his profile further heightened through his activities as chairman of the Argentine-American Chamber of Commerce in the US and as vice president of the American Foreign Law Association.