Kuri Breña Sanchez Ugarte y Aznar closed with a solid year after starting 2010 with a flurry of big mandates, before the IFLR1000 research period. Its most lucrative area once it got going was in the relatively quiet capital markets, where the firm handled a series of debt issuances and securitisations....
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Kuri Breña Sanchez Ugarte y Aznar closed with a solid year after starting 2010 with a flurry of big mandates, before the IFLR1000 research period. Its most lucrative area once it got going was in the relatively quiet capital markets, where the firm handled a series of debt issuances and securitisations.
However the firm got going in July 2010 with a mandate for a large project financing which had borne fruit by the end of the year. Partners Bernardo Luna and Alejandro Sobarzo closed the financing for the Mexican Development Banks, which agreed a $400 million facility to Chrysler Mexico in order to build a plant and manufacture the new Fiat500. The car went into production at the end of 2010.
The above deal also shows that the firm benefitted from the current trend in Mexico of increasing activity in car manufacturing.
In August 2010, Daniel Kuri Breña closed a deal for Pochteca, which owns subsidiaries Pochteca Paperia and Pochteca Materias Primas, for a securitisation of trade receivables worth $26 million. The firm structured the negotiations and handled the documents.
Partner Luis Octavio Nuñez and Alfredo Gómez Pérez then closed another interesting deal in March 2011, advising Vinte Viviendas Integrales on a bond issuance of $83 million along with a Partial Credit Guarantee (PGC) by the International Financial Corporation (IFC).
In mid-2011, partner Guillermo Garay was also busy representing PACCAR Financial on a $454 million issuance of short term notes. The issuance will be made under a placement programmes.
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Founded in 1990 in Mexico City, Kuri Brena Sánchez Ugarte y Aznar has implemented some of the largest privatisations of Mexican industrial and financial companies in the country's history. One client describes the firm's attorneys as, "creative, business-driven and fast"....
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Founded in 1990 in Mexico City, Kuri Brena Sánchez Ugarte y Aznar has implemented some of the largest privatisations of Mexican industrial and financial companies in the country's history. One client describes the firm's attorneys as, "creative, business-driven and fast".
In one 2010 deal, partners Daniel Kuri Breña and Jesus Sánchez Ugarte advised Grupo Financiero Banorte on its $1.3 billion merger with Grupo Financiero IXE. The merger resulted in the creation of the largest Mexican-investor-controlled bank, and the third largest Mexican bank. The new entity is maintaining two separate networks with a combined 1263 offices.
And in an ongoing deal that began in 2010, partner Guillermo Garay Espinosa advised CVI Globla Lux Oil and Gas on its acquisition of 20% of the capital stock of Oceanografía, which provides marine engineering services. Mexico's state-owned oil and natural gas company, Pemex, is Oceanografía's main client.
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