MEXICO FIRM BRIEFINGS Nader Hayaux & Goebel
2012 Firm Overview Most active disciplines
Financial and corporate: Banking, Equipment/asset finance, Investment funds, M&A, Private equity, Project finance Public: Construction, Land, Projects, Regulatory
Key energy sectors Oil and gas, Renewables
Key infrastructure sectors Healthcare, Mining
Key partners
Michell Nader S, Fernando Alonso de Florida R, Vanessa Franyutti J, Javier Arreola E, Julian Garza C
Nader Hayaux & Goebel is a specialised firm. The leading partners broke their practice off from Jáuregui & Navarrete in 2011 to offer specialised and focused legal services for high-end M&A, project fi- nance, and banking deals. Over the last year, they have expanded their practice with the addition of Liliana Corzo who left Banobras, the Na- tional Works and Public Service Bank, to join the firm as of counsel. The firm handled transactions for governments and private firms in
2012. They represent the Ministry of Public Health and Ministry of Budget and Planning of the State of Yucatán in a public bid for a 25- year contract to build, equip, finance, and operate a 90-bed hospital. The deal, worth approximately $5 million, closed in August 2012. It received strong interest, with between ten and twelve bidders lured by NHG’s novel financing for the public private partnership (PPP) agree- ment, which set aside federal funding the state of Yucatan receives for the project, offsetting the state’s poor credit rating. NHG also represented Axis, the joint-venture established through a
fund from Temasek and Ares Management that closed in February 2012, worth $250 million. The fund will invest in energy projects through Mexico, particularly companies which supply or contract with Mexico’s national oil company PEMEX.
Ritch Mueller 2012 Firm Overview
Most active disciplines Financial and corporate: Banking, Equipment/asset finance, M&A, Private equity, Project finance Public: Construction, Environmental, Land, Projects, Regulatory
Key energy sectors Renewables, Traditional power
Key infrastructure sectors Roads, Prisons
Key partners
Thomas Mueller Gastell, Federico Santacruz González, Gabriel del Valle Mendiola
Ritch Mueller is a full-service firm with a reputation for handling large and dynamic projects. One of its competitors says, “I consider them a first-tier firm, mostly because of the size and relevance of the deals that they handle.” The founding partner, Thomas Mueller, is well regarded, but has taken a more diplomatic role recently although he is still present on the firm’s major cases. “The firm is sufficiently big to handle our work, sufficiently small
to listen, and sufficiently competitive that we don’t need to take out a second mortgage,” says one client. “They are invested. If we dream up a new structure, they will spend the time, their own time, figuring out how we can implement it,” says another.
66 ENERGY & INFRASTRUCTURE | LATIN AMERICA 2013
Santamarina & Steta 2012 Firm Overview
Most active disciplines Disputes: Financial and corporate, Public, Tax Financial and corporate: Banking, Commodities trading and energy derivatives, Equipment/asset finance, Investment funds, M&A, Private equity, Project finance Public: Competition, Construction, Employment, Environmental, Land, Projects, Regulatory Tax: Corporate tax, Indirect tax, Transfer pricing
Key energy sectors Renewables, Traditional power
Key infrastructure sectors Airports and aviation, Ports and shipping, Toll roads
Key partners Juan Carlos Machorro, Sergio Chagoya Diaz
Santamarina & Steta takes an interdisciplinary approach to its energy and infrastructure transactions, classifying them under their “projects” practice group which incorporates financing, real estate, environmental, and renewable law in one area. Partner Juan Carlos Machorro stressed that the firm prioritises an interdisciplinary approach to both energy and infrastructure transactions because they often include several com- ponents, from land acquisition to the securing of finance. In a deal that closed in March 2012, the firm represented Deutsche
Investitions und Entwicklungsgesellschaft (DEG) in its participation in a wind farm project, requiring due diligence and regulatory advice in finance, land usage, corporate structure, and energy matters. The deal, valued at approximately $11 million, was made practically com- plex by Mexican real estate regulations concerning the use of rural land and communal farming. Sergio Chagoya Diaz acted as lead counsel in a public-private-part-
nership (PPP) financing valued at $10 million for Banco de Bajio, the first stage of which closed in November 2012. Santamarina & Steta’s main role was to draft the credit facility, made slightly complex by the newness of Mexico’s PPP regulations.
Ritch Mueller has represented private sponsors of projects as well as
lenders connected to public infrastructure, traditional and renewable energy. In a transaction closed in December 2012, they acted as counsel for Groupo Mexico in the financing of a combined cycle power plant; the deal was the first of its kind to utilise international financing under Rule 144A. On the infrastructure side, they represented Morgan Stan- ley in a bridge loan and bond issuance worth ps4.5 million, which closed in October 2012, for a toll road that required refinancing for the existing highway and new financing for an extension. In order to make the issued bonds more desirable in a package, which included both green and brown field elements, they ensured the bridge loan had access to revenue generated by the existing toll road.
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