Salvador Valdés

Partner

svaldes@carey.cl
+56 2 2928 2230



Partner of Carey and co-head of the firm's Corporate / Mergers and Acquisitions; Capital Markets and Banking and Finance Groups. His practice includes advising international and local clients in public and private M&A transactions, including tender offers, auction processes, joint ventures, private equity investments, and corporate restructuring. He advises international and local banks such as JP Morgan, Goldman Sachs, Morgan Stanley, Barclays Bank, BNP Paribas, LarraínVial and BanChile Citi on the structuring of transaction and financial products, including advice on derivative matters. He also represents, on a regular basis, infrastructure funds on the acquisition, restructuring and financing of infrastructure projects in Chile.


REPRESENTATIVE EXPERIENCE

  • Goldman Sachs, as the sole global coordinator, bookrunner, initial purchaser and commitment provider, on a USD489 million zero coupon senior secured notes issuance due 2028 issued by Chile Electricity PEC SpA under Rule 144A/Regulation S of the United States Securities Act of 1933. The proceeds were used by Chile Electricity PEC SpA to purchase certain receivables from the main energy generation companies in Chile originated under Law No. 21,185, which temporarily stabilized the electricity tariffs.
  • Brookfield Asset Management on a mezzanine financing for the construction and operation of two renewable energy plants (Cerro Dominador Project) located in the Antofagasta region: a 110MW concentrated solar plant (utilizing molten salt technology) and a 100MW solar photovoltaic plant, that jointly will provide 210MW of base load renewable capacity to the Chilean electrical grid.
  • Bimbo Group, a Mexican company, on the acquisition of Alimentos Nutrabien, a Chilean company producing sweet snacks, owned by CCU.
  • Brookfield Asset Management on the sale of a 27.8% stake in Transelec to China Southern Power Grid International, a state-owned company, for USD1.3 billion.
  • Larraín Vial and Grupo Patio on the negotiation for the acquisition and take over of the management and control of the real estate investment fund Aurus Capital Renta Inmobiliaria, a Chilean fund owner of several commercial properties and offices with a net worth around USD300 million.
  • Enel on the reorganization of its companies held in Chile, including the merger of Enel Green Power Latin America, Chilean subsidiary of renewable energy, into Enel Chile, Chilean subsidiary holding conventional energy assets. Simultaneously, on a tender offer of Enel Chile over Enel Generación Chile.
  • El Puerto de Liverpool, owner and operator of retail stores and shopping centers in Mexico, on the negotiation to make a tender offer (OPA) of up to 100% of the shares issued by Ripley (owned by Calderon family in a 52.98%).
  • Amcor Flexibles, a global leader in responsible packaging solutions, on the acquisition of Alusa, the largest flexible packaging business in South America with manufacturing operations in Chile, Colombia, Peru and Argentina, for USD435 million.
  • Altor and Bain Capital on the sale of EWOS to Cargill for USD1.35 billion.
  • Electrolux AB on the acquisition of Compañía Tecno Industrial, the largest manufacturer of home appliances in Chile and Argentina, for USD670 million.
  • Brookfield Asset Management on the acquisition of Vespucio Norte Express and San Cristóbal Tunnel toll roads for €253 million.
  • Ontario Teachers’ Pension Plan Board on the acquisition of the Chilean water utility companies Essbio and Esval for USD1 billion, and the post-closing restructure and refinancing of the companies.
  • Christus Health on the acquisition of a 40% equity stake in the UC health network, and negotiation of a joint venture with the university for the management and development of such project.

AWARDS AND RECOGNITIONS

  • Named Lawyer of the Year in Corporate Governance and Compliance, Best Lawyers (2021).
  • Recognized in Corporate and M&A and in Capital Markets, Chambers Latin America.
  • Recognized in Corporate and M&A, The Legal 500.
  • Recognized in Corporate and M&A, Capital Markets and Private Equity, Latin Lawyer 250.
  • Recognized in Corporate and M&A, IFLR1000.
  • Recognized in M&A, Who's Who Legal.
  • Recognized in Corporate and M&A and Capital Markets, LACCA.
  • Recognized in Banking and Finance, Capital Markets, Corporate and M&A, Corporate Governance and Compliance, Investment, Private Equity and Structured Finance, Best Lawyers.
  • Recognized in Corporate M&A and Capital Markets, Top Ranked Legal.
  • Lawyer of the Year Award in Capital Markets, Best Lawyers (2019).
  • Lawyer of the Year Award in Corporate and M&A, Best Lawyers (2018).

ACTIVITIES AND MEMBERSHIPS

  • Member of the legal group, ICARE.
  • Member of the Board of Paz Corp and Adexus.
  • Member of the Board of the Chile-Canada Chamber of Commerce.
  • Professor of Commercial Law, Universidad Católica de Chile (2005-2013).
  • Foreign associate, Shearman & Sterling, New York (1996-1997).

PUBLICATIONS

  • Author of specialized publications on corporate governance, merger and acquisitions, international finance among others.