The renewable energy and infrastructure sectors are driving growth across Latin America, according to Uría Menéndez partner Eduardo Rodríguez-Rovira.
He adds that, in particular, the Pacific Alliance bloc – which consists of Mexico, Chile, Colombia and Peru – is generating considerable growth for Spanish investors. “The Pacific Alliance’s renewable energy market has attracted a lot of interest in recent months, and we have also seen an increase in renewable energy mandates in Mexico especially,” Rodríguez-Rovira says.
The infrastructure sector is another area of growth for law firms in the region, particularly in Peru, where several M&A deals involving assets, concessions and stakes in large companies have closed in recent months. There has also been a number of restructurings in the sector, including Oderbrecht’s overhaul of its operations in the country.
Investors eyeing Brazil
Meanwhile, as the largest economy in Latin America, Brazil remains a key area of interest for investors in spite of its economic woes and relative political instability. Generally speaking, law firms that historically have not had a significant presence in Latin America are beginning to realise its potential, with a number of major firms also opening offices in countries such as Colombia and Peru, or otherwise expanding the operations they already have there, Rodríguez-Rovira says.
“Conversely, the Spanish real estate market is generating a lot of interest among Latin American investors, particularly from Venezuela and Colombia,” he adds. “Our firm rarely handles a mandate which does not have a Latin American component,” he adds.