Peru

Reviews

Practice area

IFLR1000 Reviews

Overview

Solicitors governing body: Local bar associations

Competition authority: Instituto Nacional de Defensa de la Competición y de la Protección de la Propiedad Intelectual

Financial regulator: Superintendencia de Banca & Seguros 

IFLR1000 ranking categories in this jurisdiction: 

Banking and finance, Capital markets, M&A, Project development, Project finance

Jurisdiction overview

Peru’s legal system is based on civil law. The constitution of 1993 is the supreme law of the land.

Those who wish to practice law in Peru must obtain a five-year degree, join a Bar Association, and register with Superior Court of Lima and the Asemblea Nacional of Rectores. 

In Peru, local lawyers can both partner with foreign lawyers, employ foreign lawyers and be employed by foreign lawyers or firms.

Lawyers who have degrees from Argentina, Bulgaria, Bolivia, Colombia, Costa Rica, Cuba, Chile, China, Ecuador, El Salvador, Spain, Guatemala, the Holy See, Honduras, Hungary, Mexico, Nicaragua, Panama, Paraguay, Romania, Russia, Ukraine, Uruguay or Venezuela have their degrees recognised. Lawyers who have their degree from other countries can have it validated by a recognised university and then must join a bar.

Financial and corporate
Casahierro Abogados

Casahierro Abogados’ M&A team recently advised clients on buy and sell-side deals in the automotive, energy and consumer goods and services sectors.

De Bracamonte Haaker Castellares Abogados

De Bracamonte Haaker Castellares Abogados is an active banking and debt capital markets firm.  

The firm’s banking team has advised borrowers and lenders this research period on deals in agribusiness and investment management.  

The debt capital markets team has advised investors, guarantors and issuers on developing private programmes of debt securities.  

Recent Deal Data highlights 

•Agrícola Pampa Baja $25 million financing  

•Agrícola Pampa Baja $50 million financing  

•Alese $20 million financing  

Dentons Gallo Barrios Pickmann Abogados

Dentons Gallo Barrios Pickmann Abogados, the Peruvian office of global firm Dentons, is an active transactional firm.  

The banking team advised on borrower side financing in the automotive and real estate sectors this research period.  

In M&A, the firm worked on buy and sell-side M&A in the pharmaceuticals, food and beverage and manufacturing sectors. 

The project development team advised contractors on drilling agreements over the research period.  

Recent Deal Data highlights 

•Mareauto Peru $10 million financing  

•Megamadsa Industrial $11 million financing 

Client feedback 

“They are highly professional and competent, and thoughtful on how to use their time.” – M&A  

“Their legal opinions are solid.” – M&A  

“Hard work, clear and easy advice which helped us understand the Peruvian law and risk.” – M&A  

“The firm has good customer service and quickly responds to legal inquiries. Their lawyers have a good knowledge of the relevant topics.” – M&A 

DLA Piper Perú

DLA Piper Perú is an active transactional and projects firm. 

The research period saw the banking team advise lenders and borrowers on debt restructurings and financings in transport, telecommunications and mining.  

One notable debt capital markets deal saw the firm advise a natural gas company on issuing bonds. 

Over the research period, the M&A team advised buyers and sellers in mining, financial services and transportation. 

In project development, the firm has recently been active advising concessionaires and EPC contractors on transport and aviation deals. The firm also helped a mining company with the expansion of its mine.  

Recent Deal Data highlights 

•CAF, Facebook, IDB Invest and Telefónica $150 million investment in Internet Para Todos  

•Dresden Lab acquisition of Representaciones y Distribuciones Iver 

•Perú LNG $940 million 5.375% bond issue 

•Quálitas Controladora acquisition of HDI Seguros 

•Rentaequipos Leasing Perú acquisition of Arrendamiento Operativo 

•TMF Group Americas acquisition of FiduPerú 

Estudio Echecopar member firm of Baker McKenzie International

Estudio Echecopar member firm of Baker McKenzie International is a leading firm for capital markets and project finance work, and also has strong banking and M&A practices.

The banking and project finance teams advised borrowers and lenders recently. Most of the firm’s financing deals took place in the energy and infrastructure sectors but the firm also saw work in real estate, agribusiness and fisheries.

Recent capital markets deals saw the firm advise a mix of issuers and underwriters on share issues, corporate bonds and green bonds.

The M&A team advises both buyers and sellers but more deals this research period saw the firm advise buyers.

M&A partner Óscar Trelles left the firm over the research period to join Cuatrecasas.

Recent Deal Data highlights

•                      Ashmore group $76.8 million acquisition of Stracon

•                      Cálidda $61 million bond issue

•                      Ergon Peru off-grid solar power plant

•                      Movilway Peru acquisition of 60% in Red Digital del Peru

•                      Protisa del Peru $100 million green bond programme

•                      Republic of Peru NS10.35 billion sovereign bond issue

•                      Sensient Technologies Corporation $10.5 million acquisition of GlobeNatural Color

•                      Trevali Mining Corporation $275 million refinancing

Client feedback

“Really high engagement of the partners involved in the transaction.  Very good knowledge of the issues related to the transaction, and creativity in order to provide solutions when facing dead ends during the structuring and negotiation of the deal.” – Banking

“Very professional firm, offering the full range of legal experts required for this kind of transaction and remarkable specialised professionals, which were key in clarifying and solving very specific particularities of the Peruvian law.”  - Banking

“Estudio Echecopar provides excellent service and differentiates itself from other local firms based on the fact that is one of the few firms that has deep knowledge of the derivatives and custodial services markets.” – Banking

“Estudio Echecopar made an overall good job assisting our company through the negotiation stage, as well as with some of the post-signature tasks that we had. However, at times the attention to detail and the response time for some matters was not up to task.” – Banking 

“They are accurate and specialised although sometimes slow in responding.”  - Capital markets: debt

“Excellent client service, and the response time is outstanding.” – Capital markets: equity

“Because of the excellent results always shown, I always trust in their work.  The team in Echecopar worked exactly as a team, always going the same way and keeping the same message. For me as a client, this consistency keeps me confident. Of course, this is the way they differentiate themselves from firms in Lima.” – Project development

Juan Carlos de los Heros

“Juan Carlos has plenty of experience in the field and since we have worked with him on most issues for years, he has a clear understanding of our concerns and point-of-view.”

“Great professional with in deep knowledge of the business and the Peruvian law. Remarkable availability and delivery.”

Alonso Miranda

“He is always a strategic ally to put together complex transactions. Alonso is a very seasoned lawyer with a comprehensive understating of financial transactions taking place in US and Peru.”

“High engagement in matters assigned. Knows our business very well which helps him understand the best way to structure transactions and to address any negotiation. He has high knowledge of financing and capital markets and is a very thorough negotiator. He’s always advising on alternatives to solve issues that comes up in deals.”

“Alonso is an excellent attorney. He has deep knowledge of capital markets regulations and banking regulations and has a solid transactional background. He is always available.”

Javier Tovar

He has a very broad experience and gets into deep analysis.”

Ines Vasquez

“Excellent work and support, always very close to the client. Deep understanding of what is needed to achieve good results in the job.”

Estudio Gálvez Abogados

Estudio Gálvez Abogados is an active M&A firm. Over the research period, the firm advised buyers and sellers in the industrial and manufacturing, agribusiness and energy sectors. 

Recent Deal Data highlights 

•Softys acquisition of Papeleria Panamericana 

Estudio Muñiz - Muñiz Olaya Meléndez Castro Ono & Herrera Abogados

Estudio Muñiz - Muñiz Olaya Meléndez Castro Ono & Herrera Abogados has a robust M&A practice and a strong broader transactional practice.

Most of the firm’s banking deals focused on advice to lenders this research period.

The firm saw some recent notable M&A deals in the mining, education and technology sectors recently.

Recent Deal Data highlights

•                      Ajegroup $75 million refinancing

•                      Ashmore group $76.8 million acquisition of Stracon

•                      China Three Gorges $1.39 billion acquisition of Empresa de Generación Huallaga

•                      Cintac $70 million acquisition of 70% in Calaminón

•                      Inversiones Nacionales de Turismo $120 million bond issue

•                      San Gaban II 206MW hydropower plant

•                      Sasil acquisition of 70% in Universidad Privada

•                      Talara Refinery redevelopment 

Client feedback

“They are good professionals and hardworking.”  - Banking

“They are hardworking and have deep knowledge of financings.” – Banking

“Good knowledge and time response.” – Investment funds

“Strengths include the personal and corporate commitment, the firm’s strong negotiation capabilities and the deep and clear understanding of M&A processes. I strongly recommend this firm’s M&A services.” – M&A

“The firm is a leading law firm in Peru that offers a one-stop-shop service thanks to a large and comprehensive suit of legal services in multiple areas in banking, capital markets, tax, labour, corporate finance, litigation, etc.” -  Banking, capital markets, MA&

“Excellent knowledge and contact base for the scope of work in the power sector. Superb service and timely response.” – Project development

“Excellent quality of work, timely response, deep knowledge of the regulatory framework, as well as the main stakeholders.”  - Project development

Mauricio Olaya

“Very incisive and creative in terms of finding solutions He is very commercially minded and always focuses on the relevant issues. He is also well known in the local legal community so it makes interactions with other lawyers seamless. The only thing that could work better is if the firm was better integrated with other divisions, for example tax. But overall very happy with his work.” 

García Sayán Abogados

García Sayán Abogados has an active banking and M&A team. 

The research period saw the banking team advise borrowers and lenders in the mining and energysectors this research period.  

Over the research period, the M&A team primarily advised sellers and joint venture parties and saw work in the shipping, logistics and banking sectors. 

Recent Deal Data highlights 

•Compañía Minera Condestable $40 million financing 

•Frontera Energy $100 million financing 

•Scotiabank $100 million acquisition of 51% stake in Banco Cencosud 

•Volcan/ COSCO SHIPPING Ports joint venture 

Garrigues

Garrigues is a leader in capital markets (both debt and equity) and project finance.

In the project finance space (advising both borrowers and lenders), the banking team worked on acquisition financings and refinancings, advising a mix of borrowers and lenders.  

The debt and equity capital markets team had roles for issuers and underwriters on recent deals. Many of the firm’s debt capital markets deals took place in the energy and infrastructure space or involved financing projects.

Recent Deal Data highlights

•                      DIP World $315.7 million acquisition of Cosmos Agencia Marítima

•                      Ergon Peru off-grid solar power plant 

•                      Hunt Oil $600 million 6.375% bond issue

•                      InRetail Perú $583 million acquisition of Quicorp

•                      Intercorp Financial Services NYSE IPO

•                      Parque Eólico Tres Hermanas and Parque Eólico Marcona $250 million 5.59% bond issue

•                      Provisur water and sanitation facility

•                      Telefónica del Perú $514.2 million 7.375% bond issue

 

Client feedback

“Strengths include the market knowledge, response times, availability, reputation and flexibility.” – Banking

“Garrigues has a solid team prepared to provide advice in all matters related to the banking and finance industry. They have very good knowledge of the industry and are meticulous with their work.” – Banking, capital markets: debt

“Garrigues is outstanding. The team provides excellent advisory, creative solutions, great time management, attention to detail, on time documentation, a proactive approach and complete availability.” – Capital markets: debt

“The quality and timely response of Garrigues exceeds expectations. Very much aware of the client’s needs and timeline. Pretty much open to discuss and to propose solutions.” – Capital markets: debt

“Responsive and professional team. Attentive to all details.” – M&A

“The law firm is excellent. We are quite satisfied with their work. Their legal analysis is deep and complete.” – Project development

“The firm provides prompt responses, is always available, friendly and knowledgeable in many subjects.” – Project finance

“Associates and the partner of the transaction were always available to us, they respond quickly to our questions. Also, they provided the legal opinions needed for our credit approval.” – Project finance

“Working with the firm has been a great experience for us. We are very happy with the support and expertise of its members. Also, we appreciate its availability and capacity to attend immediately all our requirements.”   

“The firm assisted the client from the start of the transaction taking a very proactive and assertive role and interacting with all parts involve. Great work done with no negative aspects to mention.” – Project finance

Hernández & Cía

Hernández & Cía is strong in financial and corporate and project development matters.           

The firm’s banking team advises a mix of borrowers and lenders and many of its recent deals took place in the energy and infrastructure sectors.

Within M&A the firm has been active in mining as well as on private equity M&A.

Recent project development matters saw the team advise a mining operator in a feasibility study and a regional government on executing a concession agreement for the development of an irrigation project.

Recent Deal Data highlights

•                      Enaex $15.2 million acquisition of Cachimayo

•                      Sierra Highway - Section 2

•                      Pan American Silver $1.07 billion acquisition of Tahoe Resources

•                      Pluspetrol Camisea $40 million financing

•                      Polaris Infrastructure acquisition of Union Energy Group

•                      Trabajos Marítimos $182 million financing

•                      Tramarsa $200 million private placement bond issue

•                      Zaña 13.2MW hydroelectric power plant 

Client feedback

“They acted as legal counsel on the transaction. Deep knowledge of local legal matters, including P3 projects. Good interaction with New York legal counsel.” – Project finance

José Manuel Abastos and Gracy Zapata

“Good client management and very proactive with all stakeholders.”

Miró Quesada Abogados

Miró Quesada Abogados is an active M&A firm. The firm has advised buyers and sellers this research period in the fishing, healthcare and energy sectors. 

Osterling Abogados

Osterling Abogados is an active M&A firm. Over the research period, the firm has advised joint venture parties, sellers and buyers on deals in mining, food and beverage and pharmaceuticals.

Payet Rey Cauvi Pérez Abogados

Payet Rey Cauvi Pérez Abogados is a leading transactional firm with strong M&A, banking and capital markets practices.

The firm’s banking team has advised a mix of borrowers and lenders and has worked on acquisition financings, refinanicngs, project financings and general corporate financings.

The capital markets team advised issuers and underwriters and primarily worked on debt capital markets deals.

The M&A team works in a range of sectors but recent work included deals in retail, energy and real estate. The firm mostly advised buyers over the research period.

Project finance partner Aldo Reggiardo left the firm over the research period to join Cuatrecasas.

Recent Deal Data highlights

•                      Algeciras Inversiones $75 million acquisition of four shopping malls

•                      InRetail Perú $583 million acquisition of Quicorp

•                      Mina Justa copper mine

•                      Parque Eólico Tres Hermanas and Parque Eólico Marcona $250 million 5.59% bond issue

•                      Primax $200 million bond programme

•                      Protisa Perú $97 million bond programme

•                      Scotiabank $100 million acquisition of 51% in Banco Cencosud

•                      Transportadora Callao $61.3 million financing

Client feedback

“Because of the excellent results always shown, I always trust in their work. The team always has a strategy in mind and acts accordingly to obtain the results, even when something is not happening as expected. Of course, this is the way they differentiate themselves from firms in Lima. For me as a client, this keeps me confident.”  - Capital markets: Debt

“Very professional, client oriented and with a deep knowledge of the applicable regulation.”  - Capital markets: Debt

“I am very happy and satisfied with the firm's service. I believe that the team led by Eduardo Vega is one of the best (if not the best) in the Peruvian legal market and I feel very comfortable working with them.” – M&A, Capital markets: structured finance and securitisation

“They are one of our main M&A advisors. José Antonio Payet, Juan Antonio Egüez and Giovanna García are top-notch M&A lawyers in Peru.” – M&A    

“Strengths include regulatory experience, knowledge of the electric sector.” – Project finance

“Good combination of financial and regulatory knowledge and practical experience. Their approach is very professional, but with great personal touch. They have gotten to know the essence of our company and understand our requirements extremely well.” – Project finance

José Cúneo

“He’s always thinking strategically and looking how to surpass the expected results. He always has a new idea or a new way to find a solution for every obstacle faced.”

Giovanna Garcia

“Outstanding!

Jose Antonio Payet

“He is the best legal advisor you can get in the country. Very senior, hands on and responsive lawyer.”

Lots of experience in corporate financing transactions.” 

Gerardo Soto

“Very professional. Deep knowledge of sector.”

“Provides very good overall advice and has in-depth knowledge of regulatory issues critical for our business.”

Philippi Prietocarrizosa Ferrero DU & Uría

Philippi Prietocarrizosa Ferrero DU & Uría has a strong project development practice and many of its transactions take place within the energy and infrastructure sectors.

Over the research period the firm’s banking team either advised lenders or advised energy companies on financings.

The project development team has advised concessionaires in a variety of sectors, including roads, wastewater and oil and gas, on amending or reviewing contracts.

Recent Deal Data highlights

•                      Alicorp $490 million acquisition of Intradevco

•                      Colas acquisition of Peruvian construction activities of Conalvías

•                      Dormeson acquisition of Servicios e Inversiones Fenper

•                      Inversiones la Rioja $65 million financing

•                      Inversiones Nacionales de Turismo $120 million bond issue

•                      Maxi Mobility $70 million financing

•                      Trevali Mining Corporation $275 million refinancing

•                      Volcan / Cosco Shipping Ports joint venture

Client feedback

“It has a great service, diligently attending all requirement. They have an A-level legal team. It is a very accessible firm.”  - M&A

“Responsive. Knowledgeable. User friendly. Excellent comprehensive advice.” – M&A, Private equity

Guillermo Ferrero

“Knowledgeable. Problem solver. Client oriented.”

Antonio Guarniz

“Excellent lawyer. Comprehensive knowledge of the law, not limited to corporate law, capital markets, or private equity. User friendly and responsive like very few.”

Rebaza Alcázar & De Las Casas

Rebaza Alcázar & De Las Casas is strong in M&A but maintains an active financing practice.

The banking team has recently advised borrowers and lenders on credit facilities.

The M&A team advised a mix of buyers and sellers on deals in a range of industries including energy, fishing and financial services.

Project development partners Juan José Cárdenas and María Luisa Peña Hartog left the firm over research period to join EY Law.

Recent Deal Data highlights

•                      Abengoa Perú $30 million financing

•                      Cobra acquisition of 40% in Concesionaria Angostura Siguas

•                      Inkia acquisition of stake in Kallpa Generación and Samay I

•                      Inspired Group acquisition of 25% in Cambridge College Lima

•                      Marinazul acquisition of La Fragata

•                      Moly-Cop $50 million financing

•                      Pesquera Hayduk $90 million financing

•                      Primax acquisition of 442 petrol stations

Client feedback

“The strength of Rebaza Alcazar & de las Casa lies in the knowledge it has of financial and banking issues.” – Banking

“I really value the punctuality and the depth of each document they give to us.” – Banking

“Very good support received from the law firm. Rebaza is able to give you a very comprehensive legal opinion, including, tax, regulatory and criminal law point of views.” – Banking

 “The Board receives excellent feedback and suggestions for better decision making, corporate governance and regulatory matters. We are really satisfied with the quality of knowledge and savviness that the firm has proven to have.” – Financial services regulatory     

“The corporate / M & A team that I have worked with is very committed and always available to give an accurate and quick answer to our queries and / or solve any issue that comes up along the way. Furthermore, they have always met the aggressive deadlines we have imposed. I can attest that the team always adapts to the pace of our needs.  In this firm we found the combination we were looking for, a deep knowledge of legal matters together with a commercial understanding of our business, which leads them to understand our needs and determine the most efficient way to achieve them.  The experience they have in legal and business matters, the quality of their work, the availability and commitment with us client and the creativity to solve problems, makes the firm one of the best in Peru and Latin America.” – M&A

“The firm was very proactive and flexible in providing their services. Also, they proved to have an in depth knowledge of the transaction, regulatory and industry specific issues.” – M&A 

Rafael Alcázar

“One of the top lawyers for regulatory and banking issues in Peru. He is very well organised and makes his points understood very clearly. His interaction with the board is very good and he helps us understand new regulation and be diligent. We appreciate his help and his participation enriches the dynamics of the board.” 

Daniel Gonzales

“Daniel Gonzales is an outstanding lawyer. In every step of the way, we feel secure when he is handling our matters. We have built a trusting relationship along this time working together. He has a deep knowledge of legal matters particularly in the M&A field, and we are impressed with how business oriented he is, by understanding our commercial issues and finding creative solutions to handle them. This could really save us a lot of time and money, which we obviously appreciate. Furthermore, we are thankful for his soft skills which we consider a huge added value when managing negotiations with any counterpart. He has an incredible ability to handle tense, difficult situations and always obtaining what we are looking for in an intelligent and reasonable way.”

“Daniel is an effective person in his work and dedicated to customer service.”

Alexandra Orbezo

“Her will to help us pull the deal through demonstrated hard work and flexibility. She became a thought partner throughout the process.” 

María del Pilar Sánchez

“Strengths include good technical knowledge and kindness.”

Rodrigo Elías & Medrano Abogados

Rodrigo Elías & Medrano Abogados is a leading firm in all areas covered by the rankings.

The firm’s banking team is robust and advises both borrowers and lenders and tends to advise on high value financings.

Recent M&A deals saw the firm advise buyers and sellers and the deals often involved other Latin American countries.

The firm has advised sponsors and lenders on the financing and development of projects in a range of sectors including energy, mining and roads. Additionally the project development team has advised bidders for concessions.

Recent Deal Data highlights

•                      InRetail Perú $583 million acquisition of Quicorp

•                      Inversiones Alxar $200 million acquisition of 40% in Cumbres Andinas

•                      Latin America Power $126.4 million refinancing

•                      Mina Justa copper mine

•                      Organización Terpel $714.7 million acquisition ExxonMobil lubricants business in Colombia, Peru and Ecuador

•                      Tahoe Resources $200 million financing

•                      Transmission Line Concessionaire CCNCM $75 million financing

•                      Union Andina de Cemento $100 million financing

Client feedback

“Excellent, unrivalled professional services not only compared with its Peruvian peers but other major Latin American law firms.” – Banking, M&A

“Very knowledgeable and professional.” – Capital markets: debt

“Great Firm. Always available and giving practical advice. The partners are critical thinkers.” – Capital markets: structured finance and securitisation

“Extraordinary service and continuous assistance during the process.” – Project development

“As usual the work of the firm is outstanding, showing a great level of knowledge of the matter, availability and the capability to deliver.” – Project development: mining

“Fantastic law firm.  The best of the best.” – Project finance

“The firm and its head insolvency lawyer has a vast experience in the Peruvian equivalent of chapter 11 and restructuring and therefore can provide specific answers to various questions and predict different scenarios. Very useful work.” – Restructuring and insolvency

Oscar Benavides

“Oscar is an excellent professional who has been helping us very much and has shown a high level of commitment and capability.”

Jean Paul Chabaneix

“Leading counsel in financial matters, very high legal and commercial criteria, strongly committed to his clients.” 

Fernando Molina

“Very professional and knowledgeable.”

“Outstanding lawyer. The best project finance lawyer in Peru.”

Luis Enrique Palacios

“Just brilliant.” 

Veronica Sattler

“Veronica is a high-level professional, among the top of her area of expertise. Always one step ahead. It’s a luxury to be able to work with her.”

Rubio Leguia Normand

Rubio Leguia Normand is an active transactional and projects firm. 

The firm’s banking team advises borrowers and lenders. The research period saw work in energy, hospitality and logistics.  

Recent debt capital markets deals included advice to issuers and underwriters in the real estate and energy sectors.  

In M&A, the firm represents buyers and sellers. Energy and mining were active sectors this research period.  

The firm’s project development team often advises bidders on tender processes and prospective developers on private initiatives. The firm has seen recent work in a range of industries including utilities, sanitation, energy and transport.  

The firm hired banking and capital markets partner Jeanette Aliaga over the research period from Philippi Prietocarrizosa Ferrero DU & Uría. 

Recent Deal Data highlights 

•Costa del Sol  acquisition of Hotel Libertador Arequipa and Hotel Libertador Trujillo 

•Frontera Energy $100 million financing 

•Frontera Energy $350 million 9.7% bond offer  

•Grupo Energía Bogotá acquisition of Dunas Energía 

•Mitsubishi  $600 million acquisition of 21.9% stake in Anglo American Quellaveco 

•Sumitomo Corporation $48 million acquisition of a 5% stake in Minera Yanacocha 

•VI Mining $51.3 million acquisition of Minaspampa