Chambers Global



The Firm: This prominent firm’s “fabulous” banking practice is heralded as a top choice for Uruguayan matters. In the words of one market authority: “You need to get this team on-side before the other party does.” A recent highlight was advising Banque Heritage on its acquisition of a 60% stake in Uruguay’s Banco Surinvest. The firm also acted as deal manager and underwriter for Citi Global Markets in USD2.2 billion and USD500 million sovereign debt exchange offers launched by the government.

The Lawyers: According to commentators, Nicolás Herrera is “one of the most technically skilled lawyers in Latin America.” Clients agree that he is “considered the first point of call for people who need a banking lawyer in Uruguay.” Nicolás Piaggio continues to impress observers. Sources describe him as “a commercially minded practitioner whose remarkable diligence really pays off.” Álvaro Tarabal receives praise for his “excellent ability to solve problems efficiently and quickly.”

Clients/Work INTERNATIONAL PUBLICATIONS: The firm regularly acts for Bank of America, most recently advising it on the sale of its Uruguayan assets to Banco Itaú. The firm also advised Calyon and Nordea on structuring a credit facility for Botnia and Puerta del Sur. Deutsche Bank Securities, UBS Securities, ING and HSBC Uruguay are also clients.







The Firm: “A Uruguayan institution,” the firm is seen by many market observers as “the legal leader.” Peers commented that the group “thrives on its prestige,” having “built an international reputation before other firms in the country.” Clients were pleased with the “resourceful style of the firm,” which makes it “the first port of call” for many of them. The outfit represented Petrobras in the purchase of 51% of the shares in the Montevideo Gas, which had previously been owned by Gaz de France. Reflecting the international interest in the country’s agribusiness, Guyer & Regules represented Brazilian company Marfrig in the purchase of La Caballada, a meat-packing plant, from Global Protein.

The Lawyers: According to sources, Nicolás Herrera “is a fantastic practitioner.” Observers noted that he is “dependable, outstanding and commercial,” benefiting from his education and training in the USA. He recently led the Uruguayan team acting on behalf of ING in its purchase of Banco Santander’s Latin America pensions business. Peers state that Álvaro Tarabal is “an extremely professional lawyer with strong intellectual capabilities who always keeps his clients happy.” Consistently positive feedback ushers Nicolás Piaggio into the corporate rankings. Reputed for his banking work, he is also seen as “on the way up and following in Herrera’s footsteps” in the corporate arena. His “diligence and business-oriented approach” are characteristics extolled by clients.

Clients/Work INTERNATIONAL PUBLICATIONS: The firm oversaw the purchase of McDonald’s local outlets, advising the buyer, Woods Staton, in this Latin America-wide transaction. Another prominent client is Katoen Natie, who it advised on the purchase of a further 30% of Nelsury, a major shareholder in the Montevideo Container Terminal concessionaire. Other clients include Bank of America; Prosperitas Capital Partner; Frigorífico Canelones; Winterbotham Fiduciaria and McCann Erickson.