Firm / Organisation

Guyer & Regules

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This content is provided by Guyer & Regules.

Senior Partner: Nicolás Herrera
Number of partners worldwide: 25
Number of lawyers worldwide: 107
Languages:English, French, German, Italian, Portuguese, Spanish

Firm Overview:
Guyer & Regules is considered Uruguay’s blue chip firm and the first choice for international and domestic complex legal, accounting and tax work. Such reputation is grounded on the largest group of the most experienced partners in the country, who lead a solid team of internationally trained professionals with experts in every field of business law, and promote a culture of innovation within the firm.

Guyer & Regules is proud to have been consistently recognized as “Uruguayan Law Firm of the Year” for eight years and the first and only Uruguayan firm recognized as “Latin America Law firm of the Year” by Chambers & Partners. The firm has also been recognized as “Uruguay Tax Firm of the Year” by International Tax Review – Euromoney in 2019, as “Uruguay Firm of the Year” by International Financial Law Review – Euromoney on five occasions and as “Firm of the Year – Uruguay” by Who’s Who Legal for seven consecutive years.

Performing with excellence, expertise, value, responsiveness, creativity and consistency, is not enough. Guyer & Regules strives to grow in capacity to develop strong and mutually rewarding personal working relationships with the people who work at the institutions the firm serves. The firm helps them serve their institutions – the firm’s clients – better. And those special personal working relationships are what enable the firm to leverage all those other qualities they expect from a top firm.
As Latin Lawyer states, “Guyer & Regules has long sat comfortably at the top of the Uruguay’s legal market: the breadth and high quality of its service offering, its extensive and loyal client base, and its transactional clout mean that this prestigious firm is always highly sought after.”

Main Areas of Practice:

Banking & Finance:

Guyer & Regules’ leadership is undisputed advising 66% of the private banks active in Uruguay and two out of three large private pension fund managers. It has also been the only Uruguayan firm in the past 30 years in Uruguayan sovereign debt deals. Recent highlights include:
■ Advising CAFAM in structuring a financial trust that will publicly issue certificates in Indexed Units equivalent to USD 500 million
■ Providing legal advice to the private banks in relation to a USD 1,25 billion issuance from the Uruguayan State in January 2019
■ Assisting the Joint Venture comprised of Berkes, SACEEM and Stiler in a project structured under a PPP scheme to the design, construction, operation and financing of educational infrastructure

Corporate, M&A:
As Chambers & Partners states, Guyer & Regules “continues to set the pace in the corporate sphere”, having participated in 63% of major M&A deals made public in Uruguay over the past years and representing 8 of the top 12 Uruguayan leading exporting companies. Recent highlights include:
■ Assisting Coca-Cola Femsa in its takeover of Montevideo Refrescos SRL, the local subsidiary of Coca-Cola. The deal was considered the most important Uruguayan M&A transaction of the year 2018
■ Advising the Danish multinational DLF Seeds in the acquisition of PGG Wrightson as part of a global transaction that impacted the seed market worldwide
■ Assisted Tripadvisor, the largest social travel website in the world, in the acquisition of Restorando

Tax and Accounting:
The team is recognized for its “heavyweight practice at the forefront of the market with a respected bench of practitioners” by Chambers and Partners. It is by far the most senior team on the market, formed by lawyers and CPAs, which allows for greater depth and breadth on tax matters. Recent highlights include:
■ Advising the banks in the tax planning for the first global bond in nominal pesos issued by the Republic of Uruguay in the international market
■ Assisting Agropecuaria del Litoral SA to structure the creation of a financial trust that issued US$50 million of “mixed” securities in Uruguay
■ Advising Goldman Sachs in its first investment in Uruguay with the US$140 million acquisition of approxi mately 60 per cent stake in Tienda Inglesa, one of Uruguay’s main supermarket chains

Real Estate:
By far the largest and most experienced team in the country, recognized by Chambers Latin America as a “market-leading department with a deep bench of seasoned professionals offering long-standing expertise in this practice area”. The firm has a very strong presence in REITs, housing, tourism and residential developments, industrial sites, agribusiness and forestry investments. Recent highlights include:
■ Advising METLIFE, in the financing and structuring of collaterals of a real estate and forestries of approximately 120,000 hectares in a transaction that is deemed as the largest in recent years
■ Advising Montes del Plata (JV between Stora Enso and Arauco) in its day to day business and in all the real estate aspects
■ Assisting Fideicomiso Financiero Tierras Irrigadas I and II, which raised a capital investment of USD 300 million with the objective of acquiring rural land

Litigation:
Guyer & Regules has a dedicated, strong and successful litigation team with a “solid reputation” as Chambers Latin America states. It specializes in complex civil and commercial litigation and arbitration, domestic and international, generally involving high-profile cases. Recent highlights include:
■ Represents GNLS (defendant) in a Uruguayan civil judicial procedure initiated by the Uruguayan branch of Brazil-based Construtora OAS seeking damages amounting to US$310 million and in an arbitral procedure initiated by GNLS
■ Successfully represented the Brazilian state owned oil company Petrobras (PUDSA) and Axion Energy in thighly complex domestic arbitrations filed against Administración Nacional de Combustibles Alcoholes y Portland – ANCAP, Uruguayan state-owned company that holds the monopoly over petroleum importation and refining
■ Representing Banque Heritage in criminal and civil actions brought against a former account manager

Labour:
The team excels for its services both in advisory and litigious labour matters. “The lawyers have deep technical knowledge, are committed to the client and stay up to date regarding changes in the law” as Chambers Latin America reviews. Its lawyers have represented all of the Uruguayan financial entities in the salary collective bargaining agreement negotiations with the banking union and the government, as well as the Chamber of Insurance Companies. Other recent work highlights include advising Sherwin Williams in all labour aspects regarding the closing of an industrial plant, and assisting Petrobras and Eurofarma in labour disputes.

Projects and Energy:
The projects and energy team is the largest of its kind in Uruguay. Guyer & Regules is “highly sought after to advise on the full range of energy and natural resources matters”, as Chambers & Partners states, with an impressive market share of renewable and oil and gas transactions. The firm has the greatest and experienced energy and infrastructure team in Uruguay. The firm’s excellent and reputable team has advised clients spanning the entire industry, from the developers behind Uruguay’s first solar project to the major oil and gas companies. In the infrastructure field, the firm’s professionals have assisted sponsors and also financial entities in several projects. Guyer & Regules is leading the market. The firm’s compact, top-notch team is a solid pick for even the most complex of deals. Recent highlights include:
■ Advising Total on a 35% farm-out agreement with ExxonMobil and a 15% farm-out agreement with Statoil
■ Assisting Acciona (Spain) in all legal aspects of the Central Railroad Project (a US$1 billion project) including the bid process, permits and authorizations, corporate and tax structure, bankability issues and other related aspects and its long standing client Genesee & Wyoming
■ The team was recognized in 2019 with the award “Deal of the Year” for its assistance to DP Posorja and its deep sea port project in Ecuador. Helped was provided to the giant port operator in obtaining financing for USD 377 million in the first major infrastructure project in Ecuador after the enactment of public private partnership (PPP) legislation in late 2015. The firm has the greatest and experienced energy and infrastructure team in Uruguay

International Experience:
Internationally renowned Lex Mundi, World Services Group, World Law Group, Interlex, Multilaw, Club de Abogados and Interlaw, selected the firm as their sole Uruguayan member, thus ensuring immediate access to the best lawyers worldwide and enabling the firm to reach and provide global services.