Formerly Jáuregui Navarrete y Nader, the firm has changed its name following the departure of ten of its top partners, including lead partner Michell Nader Schekaiban and lead partners Yves Hayaux-du-Tilly and Hans Goebel, the three formed Nader Hayaux & Goebel.
While the departures are no doubt a big blow for the firm, the team has built a good track record in the past year with some big clients....
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Formerly Jáuregui Navarrete y Nader, the firm has changed its name following the departure of ten of its top partners, including lead partner Michell Nader Schekaiban and lead partners Yves Hayaux-du-Tilly and Hans Goebel, the three formed Nader Hayaux & Goebel.
While the departures are no doubt a big blow for the firm, the team has built a good track record in the past year with some big clients. It represented Moody's in a securitisation transaction of RMBS worth $2.27 billion by the Mexican Workers Housing Institute in December 2010 and in August acted for Prudential Real Estate Investors on a $234 million issuance of structured notes onto the Mexican market.
The firm had a good year in equity and acted for Bulltick Casa de Bolsa as placement agent on the $60 million IPO of Proteak Uno, the first green company ever to list and only the third IPO since the financial crisis hit. Other clients included Banco Azteca and Navix de Mexico, but one deal worth detailing saw the firm represent the Mexican government on the issuance on the domestic market of fixed rate Series A and Series B long-term amortizing bonds worth $307 million.
In project finance the firm won one highlight mandate, which saw Miguel Jáuregui led a team to advise Isolux Corsán Concesiones through its bidding process for the Noreste 1 federal toll roads and bridges concessions from the Ministry of Communications and Transport.
A competitor notes, "They are a good firm, but I only see them once in a while."
However, one long-term client praises the work of Miguel Jáuregui: "He always provides a creative strategy based on his impressive experience." Another client compliments the firm on its lawyers' technical expertise: "I think it's one of their main strengths," he says. "They do a lot of background research and work on very complex public-private partnership (PPP) deals. There are lawyers who would charge you less, but would be a lot more expensive when you have problems later."
In September 2010, the firm advised a syndicate of lenders including The Export-Import Bank of the United States, the Export Development Canada, and The Korea Development Bank on a $759 million loan to Minera y Metalúrgica del Boleo for the development of a poly metallic mine in Baja, California.
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2011 has been a turbulent year so far for Jáuregui y Navarrete. Formerly Jáuregui Navarrete y Nader, the firm adopted its new name in June 2011, when partner Michell Nader Schekaiban and nine other partners left to start their own firm, Nader Hayaux & Goebel....
[more]
2011 has been a turbulent year so far for Jáuregui y Navarrete. Formerly Jáuregui Navarrete y Nader, the firm adopted its new name in June 2011, when partner Michell Nader Schekaiban and nine other partners left to start their own firm, Nader Hayaux & Goebel. Amongst the departures were lead partners Yves Hayaux-du-Tilly and Hans Goebel. The market will wait to see what impact the departures might have.
Despite the turmoil, the team can point to an impressive list of deals, with one clear highlight being the advice given to Mexico City-based conglomerate Grupo Salinas in its $1.6 billion joint venture with the multimedia conglomerate Grupo Televisa. The merger paved the way for Grupo Televisa, the second-largest mass media company in Latin America, to make multi-million dollar investments in Iusacell, Mexico's third largest mobile provider. The transaction closed in April 2011 and was led by former partner Michell Nader, alongside Mauricio Martinez, Gunter Schwandt and Inigo de Velasco.
In another key deal, which took three years of negotiations and closed in November 2010, Miguel Jáuregui and Gabriel Navarrete represented the Virginia-based security and protection company Brink's on its acquisition of an additional 78% of capital stock of Serpaprosa Servicio Panamericano de Protección (Serpaprosa), giving Brink's control of over 99% of the company's stock. Serpaorprosa has more than 12,000 employees, 80 branches and over 1500 armoured units, providing services for 40% of the Mexican cash and securities transportation market.
One long-term client praises the work of Miguel Jáuregui, saying, "He always provides a creative strategy based on his impressive experience. His work is efficient with a depth of knowledge leading to positive conclusions for what seemed like irresolvable issues."
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