Mergers and Acquisitions in Latin America: New opportunities in a changing scenario

15 Mar - 17 Mar 2017

Sheraton Buenos Aires Hotel & Convention Center

Session information

Simultaneous session - Regulatory issues: how to deal with compliance
Sheraton Buenos Aires Hotel & Convention Center


Corporate Law Section (Lead)
Corporate and M&A Law Committee (Lead)
Latin American Regional Forum (Lead)
Legal Practice Division (Lead)
Regional Fora (Lead)
Regional Fora (Lead)


Compliance issues are now more important than ever for crossborder M&A transactions. Recent high-profile corporate scandals and their political consequences, widely publicised not only throughout Latin America but globally, have vividly portrayed the impact that, for instance, corruption allegations can have on the valuation, reputation and even on the future viability of the companies involved. From the buyer’s perspective, the value of an otherwise profitable target could be greatly reduced if the ghost of corruption pops-up following the closing of the transaction. It could even expose the buyer to potential liabilities under the buyer’s own domestic anti-corruption laws. But compliance issues go beyond anti-corruption statutes to encompass antitrust, environmental, international trade, currency controls, export controls, and labour laws among all others. This session will discuss, from a practical perspective, recent trends in the handling of compliance issues and related liabilities during the due diligence stage, the negotiation of the SPA, APA or the merger agreement, and post-closing, with particular focus on the buyer’s perspective. The panel will also cover the relevance of compliance due diligence under FCPA from a US investor’s perspective. Session Co-Chairs Estif Aparicio, Arias Fabrega & Fabrega, Panama City; Committee Liaison Officer, IBA Latin American Regional Forum Andres Cerisola, Ferrere, Montevideo; Chair, IBA Closely Held and Growing Business Enterprises Committee Speakers Cesar Amendolara, Velloza e Girotto Advogados Associados, São Paulo Sergio Amiel, Garrigues, Lima Felipe Cousiño, Alessandri, Santiago; IBA Council Member, Colegio de Abogados de Chile Harvey Jay Cohen, Dinsmore & Shohl, Cincinnati, OH; Senior Vice-Chair, IBA Closely Held and Growing Business Enterprises Committee Andy J Nussbaum, Wachtell Lipton Rosen & Katz, New York Uriel O’Farrell, Estudio O’Farrell, Buenos Aires; Chair, IBA Power Law Committee

Session / Workshop Chair(s)

Estif Aparicio Arias Fabrega & Fabrega, Panama City, Panama; Secretary, Latin American Regional Forum
Andres Cerisola Infocorp Uruguay, Montevideo, Uruguay


Cesar Amendolara Velloza Advogados Associados, São Paulo, Brazil
Sergio Amiel J&A Garrigues Perú SCRL, Lima, Peru
Harvey Cohen Dinsmore & Shohl LLP, Cincinnati, Ohio, USA; IBA Council MemberOhio State Bar Association
Felipe Cousiño Alessandri Abogados, Santiago, Chile; IBA Council MemberColegio de Abogados de Chile
Uriel Federico O'Farrell Estudio O'Farrell, Buenos Aires, Argentina; Chair, Power Law Committee