Wednesday, 12 February 2014 by Lulu Rumsey, Latin Lawyer

US firm Shearman & Sterling LLP and Chile’s Carey have helped Banco de Chile with a US$829 million share offering.

Shearman also assisted the bank’s parent, LQ Inversiones Financieras, in the 31 January transaction alongside Chile’s Noguera, Larraín & Dulanto.

Milbank, Tweed, Hadley & McCloy LLP and Claro & Cía acted for the banks. JPMorgan Chase Bank, acting as depository, was also advised by Claro & Cía, while Ziegler, Ziegler & Associates is believed to have provided counsel in the US, although this could not be confirmed before publication.

The offering saw 4.9 billion shares sold on the Santiago Stock Exchange, with a further 1.8 billion shares sold in the form of American Depository Shares.

Counsel to Banco de Chile and LQ Inversiones Financieras

Banco de Chile in-house counsel - Héctor Vallejos and Sergio Rengifo

LQ Inversiones Financieras in-house counsel – Davor Domitrovic

Shearman & Sterling LLP Partner Antonia Stolper, associate James Park and visiting attorney Maria Mercado in New York, associates Jeffrey Tate and Mary Jo Lang in Washington, DC and associate Jesse Cuevas in San Francisco

Counsel to Banco de Chile


Partner Diego Peralta and associates Sebastián Monge and Felipe Zaldívar in Santiago

Counsel to LQ Inversiones Financieras

Noguera, Larraín & Dulanto

Partners Diego Noguera and Jose Antonio Gaspar, and associate Camila Guarda in Santiago

Counsel to the underwriters

Milbank, Tweed, Hadley & McCloy LLP

Partners Marcelo Mottesi and Paul Denaro,associates Michael Lee and Pablo Echeverri andinternational attorney Juan Turner in New York

Claro & Cía

Partner Jose Luis Ambrosy and associate Macarena Letelier in Santiago

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