Affinitas firms advise on Osmos and Rankmi merger

Barros & Errázuriz and Mijares, Angoitia, Cortés y Fuentes advised Osmos and its shareholders in the merger of Osmos’ business with Rankmi. Osmos is a Mexican company that offers payroll solutions to companies using AI-based technology, while Rankmi is a Chilean company that provides recruiting solutions to medium and large companies in Latin America.

As part of the transaction, Rankmi also concluded its first Series A funding round led by Softbank Latin America Fund. Both deals total USD 48 million.

The Affinitas team that participated in the transaction consisted of:

Barros & Errázuriz:

  • Sergio Eguiguren
  • Felipe Ríos
  • Vicente Antúnez

Mijares, Angoitia, Cortés y Fuentes:

  • Francisco Glennie
  • Enrique Ramírez
  • Armando Elsharkawy
  • Eduardo Orellana
  • Juan Pablo Betancourt
  • David Rajunov
  • Carlos Ahumada
  • Eugenia Portugal
  • Santiago Moctezuma
  • Jorge Chedraui

Affinitas firms shortlisted for eight Latin Lawyer Deal of the Year Awards

Affinitas member firms have been noted as legal counsel in eight matters shortlisted for the 2023 edition of the Latin Lawyer Deal of the Year Awards:

Mergers & Acquisitions: Private Companies

GIP buys LatAm renewables group Atlas from Actis: Chilean member firm Barros & Errázuriz and Mexican member firm Mijares, Angoitia, Cortés y Fuentes advised on the acquisition of Latin American renewable energy developer Atlas by US investor Global Infrastructure Partners (GIP).

Mergers & Acquisitions: Public Companies

Univision and Televisa form largest Spanish-language media group: Mijares, Angoitia, Cortés y Fuentes advised Televisa, a Mexico City-based audiovisual media and content company, on the merger of its media and content business unit with US-base Univision, to create TelevisaUnivision, the largest Spanish-speaking media company in the world. The deal value was USD 4.8 billion.

Private Equity

Several firms help Chile’s GNL Quintero get new owners: Barros & Errázuriz advised Fluxys in the negotiation of a shareholders’ agreement and other corporate matters for the creation of a consortium between Fluxys and EIG to acquire an 80% interest in GNL Quintero S.A., the largest liquefied natural gas terminal in Chile.

KKR and Telefónica set up Colombian fibre optic project: Colombian member firm Gómez-Pinzón represented KKR in the acquisition of several fiber optic assets from Telefónica’s Colombian subsidiary. In return, Telefónica received USD 200 million and 40% of KKR’s Spanish subsidiary HoldCo, worth approximately USD 500 million.

Multiple firms steer Lumen’s USD 2.7 billion LatAm business sale: Barros & Errázuriz, Gómez-Pinzón and Miranda & Amado advised US private equity company Stonepeak on the acquisition of Lumen Techonologie’s Latin American business for USD 2.7 billion.

Project Finance: Infrastructure

Peruvian port concessionaire gets novel IDB Invest financing: Peruvian member firm Miranda & Amado represented trustee and collateral agent Citibank, on Salaverry Terminal Internacional’s (STI) refinancing of existing project financing for the development, construction, maintenance and operation of the Salaverry Multipurpose Port, located in the department of La Libertad in the Republic of Peru. The transaction has a value of USD 115 million and was provided through a direct loan from IDB Invest and a private placement arranged by IDB Invest through its A/B bond program. The financing also represents the placement of a private bond with the longest tenor registered in Peru to date.

Regulatory

Pharma buy first to pass phase II of Peru’s new antitrust law: Miranda & Amado advised on the acquisition by Pharmaceutica Euroandina (part of the Medifarma group) of Hersil, one of the leading Peruvian pharmaceutical laboratories. The transaction is relevant because it was the first to pass to Phase 2 review by INDECOPI in the context of the merger control authorization, which was successfully completed.

Restructuring

LATAM Airlines exits Chapter 11: Barros & Errázuriz represented LATAM stakeholder Delta Airlines in LATAM Airlines exit from its Chapter 11 proceedings, which put an end to a landmark cross-border restructuring that began over two years ago.

The winners will be announced at the awards ceremony being held at the Hotel Unique in São Paulo on Thursday 11 May, 2023. For more information about the awards and nominations, please click here.

Affinitas delegation to participate in 2023 Biennial IBA Latin American Regional Forum conference

A multi-disciplinary team from Affinitas will be attending the International Bar Association’s (IBA) 2023 Biennial IBA Latin American Forum conference, taking place in Cartagena, Colombia from 22 – 24 March.

This year, our delegation consists of:

Barros & Errázuriz:

  • Pablo Guerrero
  • Bernardo Simian
  • Fernando Garrido
  • Vicente Cordero
  • María Olga Rivera

Gómez-Pinzón:

  • Ana Cristina Jaramillo
  • José Luis Suárez
  • Lina Uribe
  • María Fernanda Restrepo
  • Natalia García
  • Ricardo Fandiño

Mijares, Angoitia, Cortés y Fuentes:

  • Pablo Mijares
  • Manuel Echave
  • Enrique Ramírez
  • Eugenio Macouzet

Miranda & Amado:

  • Luis Miranda
  • Mauricio Raffo
  • Nathalie Paredes
  • Roberto Mac Lean

Our Chair Juan Luis Avendaño will also be in attendance.

If you are in town by that week and wish to meet The Team that Works, please get in touch with Natalia Chu (nchu@affinitaslegal.com) to arrange introductions.

For more information about the event, click here.