Peru’s Payet Rey Cauvi Pérez
Mur has promoted Susan Castillo to partner and Patricia Nakahodo to counsel. Castillo’s promotion expands the firm’s partnership to 17 lawyers.

 

Castillo specializes in banking and finance, mining, corporate law, and civil law. At 33, she is the youngest partner of the Lima-based firm.

 

As the youngest partner of the firm, I want to work on the consolidation of our corporate area as one of the leading areas in M&A, financing and capital markets transactions in Peru,” she said. “In addition, considering the interest of Asian countries in Peru, I plan to work on the expansion of our network of firms and clients in Asia.”

 

Castillo started at the firm as an associate in 2004, and went on to work for seven months in 2008 as a foreign associate at Uria Menendez in Spain. Following her return to Payet Rey Cauvi Pérez Mur that same year, she became a senior associate in 2012.

 

Peru’s M&A market displays a number of encouraging trends. In 2013, the market surpassed predictions, with M&A deals spiking more than 200 percent. This growth placed Peru just behind Brazil and Mexico in Latin American M&A transactions.

 

The major trends we have identified in M&A transactions this year are the increasing participation of private equity funds and Chinese companies in M&A transactions, the increase in cross border acquisitions by local companies, and the diversification of several companies to sectors which are not their core business, benefiting the family companies,” Castillo told IFLR1000.

 

Castillo also noted that local and international private equity funds have performed complex transactions in sectors favored by the growth of the middle class, such as health, education, logistic services, and food services, involving significant amounts.

 

“On the other hand, we have had several Peruvian companies which, having reached a significant size in the local market, looked to expand their businesses in other countries of Latin America,” she said. “That has been the case of Alicorp, which acquired a Brazilian company that produces and commercializes products of mass consumption, and the acquisition by Grupo Ransa of the Colombian company Colgrifos.”

 

In 2013, there were several transactions in sectors in that had not had seen significant recent M&A activity, such as energy and gas. The total deal value of transactions surpassed $10 billion.

 

Payet Rey Cauvi Pérez Mur played a role in one of last year’s largest transactions when Grana y Montero (GyM) agreed to acquire Pluspetrol's 12.38% stakein Transportadora de Gas del Peru last November. The firm advised Canadian pension fund CPPIB, which supported GyM in the acquisition.