Legal 500 Paraguay, 2016


Closely interwoven with the firm’s corporate and M&A practice, Ferrere’s ‘creative, responsive and highly knowledgeable’ banking and finance team attracts a good balance of bank lending and project financing, and its regional network ensures a high volume of cross-border deals. Team head Carlos Vasconsellos is singled out as being ‘one of Paraguay’s most talented lawyers’ and has a ‘distinctive ability to make the complex sound easy’. Headline work saw him assist Dutch development bank FMO with a $40m syndicated loan to Banco Regional for the expansion of its SMEs agricultural loan portfolio. Néstor Loizaga advised OIKOCREDIT on a $4m loan to BanCop to strengthen its microfinance portfolio. Project financing is an increasingly significant source of instructions for the firm, thanks in no small part to Guillermo Jover’s expertise in complex structured financings. Other key clients include Corporación Andina de Fomento (CAF), Bank of America and Credit Suisse. Valentín Sánchez is also recommended.


Ferrere has ‘one of the best corporate practices in Paraguay’ and impresses with its ‘excellent quality services’ and ‘good connections with other South American jurisdictions’. In particular, team head Néstor Loizaga ‘exceeds all expectations’, while Marysol Estigarribia and Carlos Vasconsellos are both ‘very responsive and knowledgeable’. The firm has a strong showing across the full spread of mergers, acquisitions, joint ventures, and other corporate transactions, and is often involved in Paraguay’s major corporate deals. On the M&A-side, Loizaga, Estigarribia and Guillermo Jover recently advised Unicomer on its $30m acquisition of Paraguay’s largest household appliances company, Electrofácil, a deal which marked the entry of the Salvadoran multinational into the Paraguayan market. In the oil-and-gas sector, Loizaga advised Queiroz Galvão Óleo e Gás on its first drilling operation in Paraguay. The team also assisted Cargill with the restructuring of its river transport and logistics operations. The team’s roster of international clients also includes Unilever, Schlumberger and Sodrugestvo.


The practice at Ferrere draws primarily on the combined talents of Marysol Estigarribia and senior associate Dario Capurro, and it has developed a particularly strong profile for handling the employment aspects of corporate mergers and acquisitions. The four-strong team also regularly provides consultancy services, including negotiations, employment contracts, immigration, workforce reductions, and health and safety and administrative procedures. Drawing on the firm’s regional network of offices in Uruguay, Ecuador and Bolivia, the team is well placed to advise companies with a presence in various jurisdictions; its client roster includes Cargill, Ericsson, Petrobras, Vale, SIKA and Sursem, as well as major local companies.

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Néstor Loizaga heads the practice at Ferrere, which is dominated by corporate support work and regularly advises national and multinational clients on the tax aspects of M&A transactions, investment regimes under Paraguayan law and corporate structuring and restructurings. Recent highlights include advising US-based oilfield services company Schlumberger on tax planning matters (including tax incentives under the Hydrocarbon Law); and assisting Electropar with day-to-day tax matters in relation to agreements, licensing, leasing and investments. Other clients include Cargill, Petrobras, Unilever and JBS.

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