Iberian Lawyer July August 2013 Special Focus Latin America July 2017 | Page 7

Special focus: Latin America
contribute the most growth for
law firms in the coming year.
Meanwhile, almost one third
(31 per cent) predict that Latin
American companies will continue
growing in the DR-CAFTA
countries, with the result that
there will be more instructions for
Do you expect more
international law firms to
open offices in the DR-CAFTA
region in the coming year?
59% Yes
41% No
The Latin American Lawyer surveyed law
firm partners and in-house counsel located
in, or with business interests in, Costa
Rica, El Salvador, Guatemala, Honduras,
Nicaragua, as well as the Dominican
Republic.
anticipate that the policies of
local and regional law firms. Ruby
US President Donald Trump
Asturias, Guatemala managing
will have a positive effect on the
partner at Pacheco Coto, says that
businesses in other
Latin American
countries are
Ten years ago there were
looking at the
Central American
few pan-regional (Central
region as a
American) law firms, now,
potential target
there are more than ten.
for investment.
“Although the US
Álvaro Castellanos
remains our most
Consortium Legal
important investor,
we have seen the
growth of interest
from the rest of
Latin America,” she
region’s economy. They argue that
adds. Meanwhile, Vanessa Oqueli,
traditional US-bound investment
partner at García & Bodán, expects
from countries such as Mexico
multilatinas (global companies
could potentially fall victim to
originated in Latin America) to
trade barriers; consequently
further expand their businesses
money flows are likely to pivot
throughout the Central American
towards Central and South
region.
America.
Finally, a number of lawyers
“
”
Renewable energy and infrastructure driving growth
for investors
The renewable energy and
infrastructure sectors are driving
growth across Latin America,
according to Uría Menéndez partner
Eduardo Rodríguez-Rovira.
He adds that, in particular, the
Pacific Alliance bloc – which consists
of Mexico, Chile, Colombia and Peru
– is generating considerable growth
for Spanish investors. “The Pacific
Alliance’s renewable energy market
has attracted a lot of int erest in recent
months, and we have also seen an
increase in renewable energy mandates
in Mexico especially,” Rodríguez-
Rovira says.
The infrastructure sector is another
area of growth for law firms in the
region, particularly in Peru, where
several M&A deals involving assets,
concessions and stakes in large
companies have closed in recent
months. There has also been a number
of restructurings in the sector,
www.iberianlawyer.com
including Oderbrecht’s overhaul of its
operations in the country.
Investors eyeing Brazil
Meanwhile, as the largest economy in
Latin America, Brazil remains a key
area of interest for investors in spite of
its economic woes and relative political
instability. Generally speaking, law
firms that historically have not had a
significant presence in Latin America are
beginning to realise its potential, with
a number of major firms also opening
offices in countries such as Colombia
and Peru, or otherwise expanding the
operations they already have there,
Rodríguez-Rovira says.
“Conversely, the Spanish real estate
market is generating a lot of interest
among Latin American investors,
particularly from Venezuela and
Colombia,” he adds. “Our firm rarely
handles a mandate which does not have
a Latin American component,” he adds.
Eduardo Rodríguez-Rovira
July / August 2017 • IBERIAN LAWYER • 45