Firm / Organisation

Guyer & Regules

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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 the first and only Uruguayan firm to have been recognised as “Latin America Law firm of the Year”, “Uruguayan Law Firm of the Year” for seven years and to have received the “Client Service Award” twice by Chambers and Partners. The firm has also been recognised as ‘Uruguay Tax Firm of the Year’ by International Tax Review– Euromoney for three consecutive years, as ‘Uruguay Firm of the Year’ by International Financial Law Review – Euromoney on four occasions and as ‘Firm of the Year – Uruguay’ by Who’s Who Legal for six consecutive years.

Guyer & Regules is proud to be considered Uruguay’s blue chip firm and first choice for international and domestic legal, accounting and tax work. Such a reputation is grounded on the firm’s solid team of internationally trained professionals and the largest group of the most experienced partners in the country, who have become the clients’ trusted advisers through daily service excellence. Guyer & Regules “acts as a true strategic partner and adapts its individual and collective know-how to every situation”.

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:
■ Acting as deal counsel for a trust issuance worth USD 100 million on behalf of toll road operator Corporación Vial del Uruguay in what is thought to be the country’s largest corporate offering ever on the local market
■ Assisting the joint book-runners for the first global bond in nominal pesos issued by the Republic of Uruguay in the international market for USD 1.25 billion

Corporate, M&A:
As Chambers and 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 working for eight out of twelve of the country’s top exporting companies.
Recent highlights include:
■ The firm participated in the most important Uruguayan M&A transaction of the year to date — assisting Coca-Cola Femsa in its takeover of Montevideo Refrescos SRL, the local subsidiary of The Coca-Cola Company
■ Advised an affiliate of Merck Animal Health in the acquisition of Prondil S.A., an Uruguayan corporation that produces and commercialises animal vaccines for export being this transaction, one of the most important acquisitions in Uruguay during 2017
■ Assisted Chile’s Enjoy in the purchase of 55% shares held by US based Caesars in the Uruguayan casino Conrad Punta del Este

Tax & Accounting:
The team is recognised 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 banks in tax planning for the first global bond in nominal pesos issued by the Republic of Uruguay in the international market
■ Assisting Agropecuaria del Litoral S.A. to structure the creation of a financial trust that issued USD50 million of ‘mixed’ securities (‘títulos mixtos’) in Uruguay
■ Advising Goldman Sachs in its first investment in Uruguay with the USD140 million acquisition of approx. 60% stake in Tienda Inglesa, a major Uruguayan supermarket chain.

Real Estate:
By far the largest and most experienced team in the country, delivering “innovative solutions, commercial thinking and a personalised service on every single detail” (Chambers Latin America). The firm has a strong presence in tourism and residential developments (especially in Punta del Este and its surroundings), industrial sites, agribusiness and forestry investments.
Recent highlights include:
■ Advising METLIFE which acquired approximately 120,000 hectares of real estate properties in a transaction that is deemed as the largest and most important sale of this nature in the history of the country
■ Assisting on acquisition of real estate for the installation of new Homecenter Sodimac chains in Uruguay
■ Assisting TGLT in the development and sale of a high value project of apartments in an exclusive waterfront of 11,000 square meters


Guyer & Regules has a dedicated, strong and successful litigation team with a “solid reputation” as Chambers Latin America states. It specialises in complex civil and commercial litigation and arbitration, domestic and international, generally involving high-profile cases. Recent highlights include:
■ Helping Brazilian food company Marfrig settle a USD36 million claim arising from the purchase of a leather holding
■ Representing GNLS (defendant) in a Uruguayan civil judicial procedure initiated by the Uruguayan branch of Brazil-based Construtora OAS seeking damages amounting to the USD 31 million 
■Assisting Jaguar Land Rover in ending a dispute with previous Uruguayan distributor worth USD3 million, all negotiated to outstanding results for the clients
■ The team recently participated in the ICSID Arbitration Philip Morris filed against the Uruguayan State

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 & Energy:
Guyer & Regules’ projects and energy team is the largest of its kind in Uruguay. It is “highly sought after to advise on the full range of energy and natural resources matters”, (Chambers and Partners), with an impressive market share of renewable and oil and gas transactions. Members are dedicated to consulting, contracting, financing and in the day to day business of the energy and infrastructure sector. Its team has advised clients spanning the industry, from the developers behind Uruguay’s first solar project to the major oil and gas companies. In the infrastructure field professionals have assisted both sponsors and financial entities.
The pioneering role the firm plays means clients regularly demand its counsel for power purchase agreements, PPPs, concession agreements, project financing and engineering procurement and construction agreements and EPC and OyM agreements. Its compact, top-notch team is a solid pick for even the most complex of deals. Clients highlight the breadth of the team’s expertise.
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 USD1000 million project) including the bid process, permits and authorisations, corporate and tax structure, bankability issues and other related aspects
■ Advising Inter-American Investment Corporation in the financing of two Uruguayan companies owned by Atlas Energy Group which have developed two solar plants in Salto, Uruguay for the production and sale of energy to the Administración Nacional de Usinas y Trasmisiones Eléctricas – UTE (National Administration of Power Stations & Power Transmitions).

International Experience:
Internationally renowned Lex Mundi, World Services Group, World Law Group, Interlex, Multilaw and Club de Abogados, 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.

Guyer & Regules’ clientele includes many market leaders in every sector of the economy. Some representative clients are: ADT, Avon, Bank of America, Banco Itaú, BBVA, Banque Heritage, Baxter International, Boskalis International, BG, Cargill, Chevron Texaco, Citibank, DEG, Deutsche Bank, EDC, Emirates, FMO, General Motors, Gol, Hilton, HSBC, IDB, Jazz Air, Johnson & Johnson, JP Morgan Chase, L’Oreal, Louis Dreyfus, Louis Vuitton, Metropolitan Life, Minerva, Morgan Stanley, Nissan, Petrobras, Philip Morris, Renault, Roche, Royal & Sun Alliance, Sabre, Scotiabank, Stora Enso, Techint, Telefónica, Telesat Canada, Total, Tullow, Unilever, Volvo.