Forasteri Abogados had a good year last year in the Mexican equity capital markets. It also handles debt capital markets, banking and finance, however these areas proved a bit more elusive....
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Forasteri Abogados had a good year last year in the Mexican equity capital markets. It also handles debt capital markets, banking and finance, however these areas proved a bit more elusive.
Partner Díaz de Cossío kept the equity deals coming in and in one mandate, which marked only the second IPO in Mexico following the financial crisis, he led a team to advise Corporación Actinver, the holding company of a bank, broker and the largest independent asset manager in Mexico, on its listing on the Mexican Stock Exchange. The IPO was also the first for a number of years from a financial services company and was completed in May 2010.
Connected with the above deal, de Cossío, along with newly recruited associate Verónica Peña, assisted securities dealer Actinver Casa de Bolsa on establishing a programme for the issuance of warrants, which was interesting for being only the fifth of its kind by such a company. The programme worth $85 million was established in December 2010.
Another equity deal in January 2011 saw de Cossío advise Grupo Carso as its spun-off mining and real estate subsidiaries listed on the Mexican Stock Exchange.
Young up-and-coming associate Gonzáles de Cossío also managed to lead on one highlight transaction, where he advised Grupo Sports World on an IPO on the national stock exchange worth $66 million. Notably, the Group listed over 50% of its outstanding shares in August 2010.
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Forasteri Abogados' M&A department hired three associates between May and October 2010 from rival firms Romo Paillés and López Velarde.Associate Verónica Peña in particular seemed to pay dividends, appearing in a supporting role on the firm's big deals....
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Forasteri Abogados' M&A department hired three associates between May and October 2010 from rival firms Romo Paillés and López Velarde.
Associate Verónica Peña in particular seemed to pay dividends, appearing in a supporting role on the firm's big deals. However it was partners Leonora Olmedo and Francisco Pérez who brought in the lucrative deals.
The firm closed three interesting M&A deals in 2010. Olmedo led a team to support Harmon Hall Holdings and Nexxus Capital as the founding shareholders of Harmon Hall Holding sold their stake in the company to a number of international private equity funds, thereby putting Harmon Hall in a capital rich position allowing it to expand. The deals were closed in August 2010 for an undisclosed amount.
Olmedo was busy again in November 2010 as she steered another project to close, this time representing Genomma Lab as it acquired the rights to the brands Vanart and Pomada de la Campana. The acquisitions were part of a string of purchases of personal care products by the company subsequent to a successful IPO in 2008.
Pérez closed a third notable deal for the team in December. He and Peña advised Grupo Hotelero Brisas on its acquisition of a residential development and resort in the tourist hotspot of Cancún from several sellers. The deal is evidence of the continuing opportunities in Mexico's tourism sector.
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