Cristián Eyzaguirre

Partner

ceyzaguirre@carey.cl
+56 2 2928 2209

Partner of Carey and member of the firm´s Mergers & Acquisitions and Capital Markets Groups. His practice focuses on advising local and foreign clients in mergers and acquisitions, private equity and venture capital. The foregoing is combined with an 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.

REPRESENTATIVE EXPERIENCE

  • Scotiabank on the acquisition of the control of BBVA Chile for USD2.2 billion from Banco Bilbao Vizcaya Argentaria, on the mandatory tender offer process for up to 100% of the shares of BBVA Chile, and the further merger of BBVA into Scotiabank Chile, resulting in the latter becoming the third largest private bank in Chile. The acquisition and the following merger required regulatory approvals in Chile (SBIF, CMF and FNE) and Canada.
  • UnitedHealth Group on the acquisition of Banmédica, a Chilean health insurance, healthcare and medical rescue conglomerate, with presence in Chile, Colombia and Peru, for USD2.8 billion in january 2018, becoming the largest health industry M&A in Chile until that date and chosen as Deal of the Year by Latin Lawyer. Subsequently, during 2018 and by means of succesive operations in the Santiago Stock Market for USD56 million, UnitedHealth Group increased its participation in Banmédica.
  • Antofagasta Railway Company and Inversiones Punta de Rieles, subsidiaries of Antofagasta PLC, on the sale of 100% of the shares of Aguas de Antofagasta, a company dedicated to the production of drinking water and treatment and disposal of sewage in northern Chile, to Empresas Públicas de Medellín, a Colombian business group, for USD965 million.
  • Codelco on the acquisition, through its subsidiary Acrux, of 29.5% of the property of Anglo American Sur for USD2.8 billion, and the financing of the deal by Mitsui.
  • 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.
  • Alberta Investment Management Corporation, a Canadian investment fund, on the sale of the 50% stake in Autopista Central to Abertis Infraestructuras, for USD1 billion.
  • Falabella on a capital increase and secondary shares offering for a total of USD800 million, of which USD380 million were newly issued shares and USD160 million were secondary shares. The shares were placed through a public auction on the Santiago Stock Exchange, also involving an international private placement (144A/RegS).
  • Christus Health, a not-for-profit institution and one of the ten largest healthcare operators on the US, on the acquisition of 50% of Red Salud UC, the largest private healthcare group in Chile, owned by Universidad Católica de Chile, and on the negotiation of corporate governance issues; and on the acquisition of 50% of Clínica San Carlos de Apoquindo.
  • 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 and the sale of its stake in Factorline.
  • Standard & Poor’s Chile Clasificadora de Riesgo on its incorporation in Chile and registration as a rating agency, both with the Securities and Insurance Superintendence (SVS) and the Banking Superintendence, and the compliance of regulatory matters.
  • Danaher Corporation on different acquisitions in Chile, such as Aguas Industriales (Aquasin) and Termodinámica and M-Dent, leader company in the Chilean dental health supply and distribution industry.
  • Codelco on the issuance of 10-year bonds for USD400 million approx. (UF10 million) in the local market. This bond is the comeback of Codelco after more than 10 years to the local bond market.
  • The controlling group of Falabella on the preparation of their new shareholders´agreement that regulates the corporate governance of the company.

AWARDS AND RECOGNITIONS

  • Winner in the Investment Funds category, Leading Lawyers, Idealis (2014).
  • Recognized in Corporate/M&A and Capital Markets, Chambers Latin America and Chambers Global.
  • Recognized in Corporate/ M&A, Latin Lawyer 250.
  • Recognized as Leading Lawyer in Corporate/M&A, Legal 500.
  • Recognized in Corporate/M&A, LACCA.
  • Recognized in Banking and Finance; Corporate/M&A, Corporate Governance and Compliance, Best Lawyers.
  • Recognized in Corporate: M&A/Corporate Governance, Who’s Who Legal.
  • Recognized in Corporate/M&A, Capital Markets and Private Equity, IFLR1000.

ACTIVITIES AND MEMBERSHIPS

  • 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 (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.

PUBLICATIONS

  • 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.


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.


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