Posadas

Firm Details:

Managing Partners: Fernando de Posadas and Daniel González.

Number of partners: 22

Number of professionals: 160

Languages: English, French, German, Italian, Portuguese, Spanish

Firm Overview:

With more than 95 years of history, Posadas is one of the largest and most prestigious full-service firms in Uruguay. Founded in 1926, the firm has had a truly international perspective ever since, being the first Uruguayan firm to open branches within the country (Zonamerica free trade zone and Punta del Este). The firm’s leading position is built on its ability to support clients in highly complex transactions, advising multinational corporations, financial institutions and local companies in a broad range of practice areas. The firm prides itself in maintaining its tradition in the practice of law, with personalised attention to clients and active involvement from partners in cases handled. The firm’s professionals are highly specialised, with most having worked or studied abroad.

Main Areas of Practice:

-Banking & Finance

-Corporate, M&A

-Tax & Accounting

-Real Estate & Notarial Services

-Dispute Resolution

-Telecommunications

-Energy & Natural Resources

-Labour & Employment

-Administrative

Banking & Finance:

6 partners, 16 fee earners

■ Represented Global Infrastructure Partners on a green loan credit agreement with a syndicate of global banks worth USD 495 million

Represented Banco Santander and Banco de la República Oriental del Uruguay as senior lenders in the financing of a PPP prison project worth USD 85 million

■Represented HIF Urguay in the financing of hydrogen and e-fuel production plant in Uruguay which will involve USD 6 billion investment – the largest foreign investment mandate in the country’s history.

■Represented Inter-American Development Bank in a credit facility granted to an agribusiness company, for the amount of USD 65 million

■ Represented Inter-American Development Bank and International Finance Corporation in a syndicated loan for USD 240 million granted to a regional

infrastructure company

■ Represented Banco Santander España in structuring two project finance transactions involving wind farms for a total of USD 68 million

■ Represented state utility company UTE and its subsidiary Areaffin SA in the structuring of an unprecedent IPO for the financing of a 70MW wind firm

Contact: Tomas Gurméndez

Tel: +598 2604 1604

Email: [email protected]

Corporate M&A:

12 partners, 55 fee earners

■ Advised Aligned Data Centers on the USD1.8 billion global acquisition of ODATA from from Brazil’s Patria Investimentos and US IT company CyrusOne.

■Advised Global Infrastructure Partners on the acquisition of Atlas Renewable Energy in a deal worth USD 2 billion globally.

■Acted for BP on the acquisition of the remaining shares in its ethanol joint venture with Bunge, taking control of the asset in a USD 800 million purchase

■Represented Montes del Plata (joint venture of Chilean Arauco & Finnish Stora Enso) in the construction of paper mill worth USD 1.5 billion

■ Represented The Coca-Cola Company in the sale of its Uruguayan bottler to Coca-Cola FEMSA

■ Represented Banco Itau UNIbanco in the acquisition of the Uruguayan assets of Citi Group

■ Advised Bank of America Merrill Lynch in the sale of its Uruguayan wealth management business to Julius Baer Group Ltd

■ Represented multinational MegaPharma in the acquisition of Laboratorios Celsius

■ Represented a group of institutional investors leaded by BTG Pactual in the acquisition of the Uruguayan assets of Weyerhaeuser worth USD 400 million

Contacts:, Fernando de Posadas, Tomás Gurmendez

Tel: +598 2604 1604

Emails:, [email protected], [email protected]

Dispute Resolution:

2 partner, 14 fee earners

■Represented Conaprole before the Supreme Court in a case against the Venezuelan and Uruguayan governments as well as Veneuzelan state-owned company, Corpovex, related to the non-payment of goods.

■Represented Cubico Sustainable Investments and CIEMSA, owners of three separate wind farms in a USD 50 million dispute with the local government and landowners relating to the connection with transmission lines.

■ Represented landowners in challenging a tax that levied ownership of rural land. Supreme Court declared the law approving such tax as unconstitutional

■ Represented Montes del Plata in a lawsuit brought by a public prosecutor seeking the annulment of an investment agreement entered into by Montes del Plata and the Uruguayan State

■ Represented creditors in suit against banks liquidated as consequence of the 2002 banking crisis, in claim worth more than USD 100 million

■ Represented a large private equity fund in a civil claim arising from the purchase of one of the largest Uruguayan banks

Contact: Valeria Techera

Tel: +598 2604 1604

Email: [email protected]

Tax & Accounting:

4 partners, 30 fee earners

■ Advised Votorantim Cimentos S.A. in structuring the tax structure of a relevant investment in Uruguay

■ Advised Minera Aratirí (Zamin Ferrous) in tax and accounting matters ref the development of a major iron ore project worth USD 3 billion

■ Advised several wind power projects in Uruguay in tax aspects of structuring and financing

Contacts: Daniel González

Tel: +5982 604 1604

Emails: [email protected]

Real Estate - Notarial Services:

1 partner, 20 fee earners

■ Represented La Buonora y y Asociados Desarrollos on the development of Cala del Yacht, a high-end project consisting of private luxry residences worth USD 150 million

■ Represented an international real estate developer in structuring two landmark social housing projects

■ Structured Fideicomiso Q, a luxury real estate development as well as real estate development of Rinconada del Mar, in Punta del Este

■ Representing Montes del Plata in several acquisitions of rural estate and timber in Uruguay

■ Represented a major US insurance company in the acquisition of land and timber worth 120 USD million

Contacts: Federico Pañasco

Tel: +598 2604 1604

Emails: [email protected]

Labour:

2 partners, 6 fee earners

■ Advised Aerolíneas Argentinas on the negotiation of various Collective Agreements, regarding labour benefits and conditions

■ Advised Pedidos Ya (leading online food ordering company) with the implementation of the Stock Option Plan (SOP) for Managers and Officers, and with the public offer in Berlin Stock Exchange through the holding company, Delivery Hero

■ Successfully defended Frog Stores against several mobbing claims before the Ministry of Labour

■ Adviced Grupo Biotoscana on the negotiation and drafting of employment agreement for officers and managers in Uruguay, contemplating special aspects related to migration and tax issues, as well as, in the termination process of different employees, negotiation process of severance packages, settlement agreements and judicial homologation of said agreements

Contacts: Alejandro Castello, Mariana Fernandez

Tel: +598 2604 1604

Email: [email protected], [email protected]

Key Clients:

The list of clients for the firm’s main areas of practice is considerable and unmatched. Amongst key clients are ABB; Air France; Arauco; AT&T; ; Aligned Data Centers, Banco Itaú; Banco Santander; BNP Paribas; British Foods; Cargill; Case New Holland; Caterpillar; DEG; Deutsche Bank (Brasil); Delivery Hero, Electrobras; Federal Reserve Bank of New York; Ford Motor Company; General Motors; GMO Renewable Resources, Hotel Casino Carrasco; InBev; Inter-American Development Bank; International Finance Corporation; John Deere; MasterCard International; Metropolitan Life; Montes del Plata; Nokia Siemens; Panamerican Life Insurance; Quilvest Switzerland; Rabobank, RENAULT; Safra Bank; Salvatore Ferragamo; Telecom Argentina; Tetra Pak; The Coca Cola Company; Timberland Group; Verizon; Visa Net Uruguay; Votorantim Cimentos; Zamin Ferrous (Minera Aratirí).