Cleary Gottlieb’s work in Latin America in 2006 garnered recognition across nine different award categories as LatinFinance magazine honored the year’s most outstanding transactions. The firm’s representation of CVRD in its $19 billion acquisition, and the related bridge financing, of Canadian nickel miner Inco won “Best Cross-Border M&A Deal,” “Best Hostile Takeover” and “Best Syndicated Loan.” LatinFinance noted that this transaction was “nothing short of region transforming.”
CVRD also picked up the “Best Corporate Issuer” award. Cleary Gottlieb worked with CVRD on all of its U.S.-registered offerings in 2006. The firm also advised CVRD on its $3.75 billion dual tranche issue, which was awarded “Best Corporate Bond” this year.
Cleary Gottlieb won the “Best Liability Management” award for its representation of The Republic of Uruguay in a series of liability management transactions, including a $1.17 billion exchange and cash tender offer and contemporaneous cash offerings of U.S. dollar and Uruguayan Peso-denominated bonds totaling approximately $800 billion. The firm was counsel in the “Best Follow-on Equity” deal of the year, advising the underwriters in the R$3.2 billion Reg S/Rule 144A initial public offering by CESP (Companhia Energética de São Paulo). LatinFinance noted that this deal “stands out for its complexity and tricky timing.”
The firm’s always-strong private equity and M&A practices also received recognition. Cleary Gottlieb represented Newbridge Latin America and other shareholders in the “Best Private Equity Deal” of 2006, the sale of Controladora Milano to a syndicate of investors led by Advent International. The firm’s representation of Carulla Vivero, a Colombian supermarket chain, and its shareholders in the sale of the company to Almacenes Exito picked up the “Best Domestic M&A Transaction” honors for 2006.
LatinFinance covers business, finance, cross-border investment and capital markets in Latin America.