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Partner at Carey and co-head of the firm’s Mergers and Acquisitions and Capital Markets Groups. His practice focuses on advising local and international clients—with a particular presence in the mining, infrastructure, and healthcare industries—in mergers and acquisitions, private equity, and venture capital. The foregoing is combined with extensive practice on joint ventures, shareholders agreements and corporate governance in general. With respect to capital markets, he advises issuers, investors and brokers, with a special focus on fund formation, structuring, registration and management of investment funds.
- Codelco on various strategic alliances to strengthen its position in the Chilean mining industry. Firstly, on the negotiation and implementation of an agreement with Anglo American to develop a joint project to increase production in the district comprising the Andina and Los Bronces Divisions, with an estimated additional value of over USD5 billion. This continues the operational coordination initiated in 2018 and complements Codelco's 2012 acquisition of a 29.5% stake in Anglo American Sur. Furthermore, he advised on the formation of Nova Andino Litio, which merges Minera Tarar and SQM Salar to operate in the Atacama Salt Flat until 2060, consolidating its position as the world's largest producer of lithium brine and ensuring contractual continuity with Corfo. Also, in the joint venture with Rio Tinto in the Maricunga salt flat—following a competitive process aligned with the National Lithium Strategy—through which Rio Tinto will invest up to US$900 million to produce lithium carbonate for 30 years. This alliance is complemented by Codelco's acquisition of 100% of Lithium Power International, owner of the Blanco Project, adjacent to Codelco's holdings in Maricunga and now integrated into the joint venture with Rio Tinto. Finally, he advised Codelco on the partnership with Rio Tinto for the joint development of the Nuevo Cobre project.
- Antofagasta Minerals on the analysis, design and implementation of a corporate and financial restructuring that enabled the separation of the desalination and water conveyance business from the core mining operations of Minera Los Pelambres.
- CAP on an investment of approx. USD32 million to acquire 20% of REE Uno, a Chilean company owned by Aclara Resources, which is developing a project to exploit rare earths from ionic sands in Penco, Biobío. Aclara is a Canadian company that trades on the Toronto Stock Exchange.
- Celeo Redes and APG Energy & Infra Investments on the acquisition of 100% of Colbún Transmisión, a subsidiary of Colbún for approx. USD 1.3 billion and on the financing of the acquisition through the issuance and placement in the international markets (144A/Reg. S) of a senior bond for approx. USD1.1 billion.
- Algonquin Power & Utilities Corp. on the acquisition of Empresa de Servicios Sanitarios de Los Lagos (ESSAL), a water utilities company with operation in the south of Chile, from Aguas Andinas for USD172.4 million and on the latter divestment of part of the indirect stake in ESSAL to the investment fund Toesca Infrastructura II. Also, in the water utility industry, advised Sembcorp Industries on the sale of its business in Chile to Sacyr for approx. USD40 million, and Antofagasta PLC, on the sale to Empresas Públicas de Medellín of 100% of the shares of Aguas de Antofagasta, a water utility company with operations in the north of Chile, for USD965 million.
- Patria Investments on various operations, including the sale of Aguas Pacífico, owner of a desalination plant (currently under construction) in the Valparaíso Region, to a new investment fund organized in Chile and managed by Moneda AGF, with local and foreign investors, including Patria's Infrastructure Fund V (a fund-to-fund transaction); the Chilean aspects of the sale of Patria's stake in ODATA's Latin American operations; and Patria's partnership with Moneda Asset Management to create a regional asset manager with over USD25.9 billion in assets under management. The advices were structured through the acquisition of Moneda using a combination of cash and Patria shares for USD315 million.
- The Bank of Nova Scotia (BNS) on the acquisition of a 16.76% stake in Scotiabank Chile and other Chilean subsidiaries from the Said family, by means of a share purchase and share exchange for more than USD1 billion. As a consequence of this transaction, BNS became the owner of a 99% interest in Scotiabank Chile, bank which resulted from the acquisition of the control of BBVA Chile for USD2.2 billion, and the further merger of BBVA Chile into Scotiabank Chile, resulting in the latter becoming the third largest private bank in Chile. Subsequently, he advised Scotiabank Chile on the merger of the financial advisory subsidiaries, stockbroker, insurance broker, general fund manager, factoring and leasing.
- Credicorp Capital, through investment funds managed by its AGF, on a joint venture with Maestra to develop residential real estate projects in Santiago, one for USD27 million in 2021 and the other one for USD20 million in 2026. Additionally, on regulatory matters with respect to other investment funds managed by Credicorp Capital Asset Management.
- International Finance Corporation (IFC) on several M&A transactions, such as the investment of USD225 million in shares of Corpbanca; the investment of USD140 million in Consorcio Financiero; the sale of 8.76% of Inversiones Magallanes; the investment of USD15 million in Copeval; and the sale of its stake in Factorline. Also, on several capital markets transactions such as IFC investment in two asset-back bonds originated by Copeval, and on USD10 million commercial papers issued by Fondo Esperanza, the first “social” and gender focus bond in Chile.
- Christus Health, a not-for-profit institution and one of the ten largest healthcare operators in the US, on the acquisition of 50% of Red Salud UC, the largest private healthcare group in Chile, owned by Universidad Católica de Chile, on the negotiation of corporate governance issues; the acquisition of 50% of Clínica San Carlos de Apoquindo, and the implementation of a corporate reorganization and new business model of Red Salud UC Christus.
- Teck Resources on a joint venture with Sumitomo for the investment of USD1,2 billion in Compañía Minera Quebrada Blanca (in exchange for 30% of the company) for the development and construction of the Quebrada Blanca Phase II project. Previously, he advised Teck Resources on a USD3.5 billion joint venture with Goldcorp to combine its Chilean assets, Relincho and El Morro respectively, into the New Union Project. Additonally, on the acquisition of 13.5% stake in Quebrada Blanca from Grupo Hurtado.
- Falabella on several operations, such as the issuance and placement in the international markets (144A/Reg. S) of a bond for approx. USD650 million; a capital increase of Falabella and secondary shares offering in the local and international markets (144A / Reg. S) for a total of USD800 million. Also, on the sale of Viajes Falabella to Despegar.com for USD27 million and several reorganizations (split-up and mergers) of Falabella's subsidiaries.
- Recognized in Corporate and M&A, and Capital Markets, Chambers and Partners.
- Recognized in Corporate and M&A and Capital Markets, Legal 500.
- Recognized in Corporate and M&A, Capital Markets, ESG, and Private Equity, Latin Lawyer.
- Recognized in M&A, Capital Markets and Private Equity, IFLR.
- Recognized in M&A and Corporate Governance, Lexology.
- Recognized in Corporate and M&A, LACCA.
- Recognized in Corporate M&A, Leaders League.
- Recognized in Capital Markets, Leading Lawyers, Idealis.
- Recognized in Capital Markets and Corporate and M&A, Top Ranked Legal.
- Recognized as Lawyer of the Year in Investment Funds, Leading Lawyers (2014).
- Law, Universidad de Chile (Summa Cum Laude).
- Master in Securities and Financial Regulation, Georgetown University Law Center (2002).
- Member of the Latin American Private Equity & Venture Capital Association (LAVCA).
- Member of the International Section and Latin America Council of the New York State Bar Association.
- Member of the Aliança de Advocacia Empresarial (ALAE).
- Professor of Mergers & Acquisitions, Universidad Los Andes (since 2017).
- Professor of the Degree in Compliance and Corporate Governance, Universidad Católica de Chile (since 2017).
- Member of the Commission for the new Commercial Regulation in Chile (2016-2017).
- Writing advisor for the regulation of the Law 20,659: "Companies incorporated in one day" for the Ministry of Economy, enacted in 2013.
- Writing advisor of the bill project for the New Regulation on Corporations for the Ministry of Finance, enacted in 2012.
- Professor of Mergers & Acquisitions, Universidad Adolfo Ibáñez (2009-2015).
- Foreign associate, Corporate Group, Pinheiro Neto Advogados, Sao Paulo (third quarter of 2006).
- Foreign associate, M&A Group, Skadden, Arps, Slate, Meagher & Flom, New York (2005-2006).
- Professor of Commercial Law and Corporations, Universidad Alberto Hurtado (2004-2011).
- Member of the Chilean Bar Association.
- Member of the International Bar Association.
Education
- Law, Universidad de Chile (Summa Cum Laude).
- Master in Securities and Financial Regulation, Georgetown University Law Center (2002).
Admissions
- Chile (2001).
Languages
- Spanish.
- English.
- Portuguese.
Publications
- Periodic opinion columnist on private equity and venture capital, Revista Industria Legal.
- Co-author of the Chilean chapter "Alternative Investment Funds", ICLG (2021 and 2022).
- Co-author of the Chilean chapter "ESG and Impact Investing", Lexology Getting the Deal Through (2021, 2022 and 2023).
- Co-author of "Proposal to Facilitate the Merger of Chilean Companies into a Foreign Company", Estudios de Derecho Comercial en Sextas Jornadas Chilenas de Derecho Comercial, Ediciones UC (2017).
- Co-author of the Chilean chapter in Private Equity, Getting the Deal Through (2017).
- Co-author of "Transactions with related parties in public corporations", Actualidad Jurídica, year XVI, N°31, Universidad del Desarrollo (2015).
- Co-author of the Chilean chapter in Mergers & Acquisitions, Getting the Deal Through (2009-2013).
- Co-author of the Chilean chapter in Securities World, The European Lawyer, London (2007).
- Co-author of the Chilean chapter in Directors’ Liability: A Worldwide Review, Kluwer Law International, Netherlands (2006).
- Co-author of the Chilean chapter in International Stock Purchase Acquisitions, American Bar Association, Chicago (2006).
- Co-author of the Chilean chapter in Merger Control Worldwide, Cambridge University Press, Cambridge (2005).
Seminars
- Frequent panelist in legal seminars and conferences in Chile and abroad.