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Corporate and M&A

D’Empaire is the leading M&A law firm in Venezuela. The firm has participated in most of the acquisitions taking place in Venezuela in the last two decades. We have represented:

  • Lumen Technologies as Venezuelan counsel in the sale of its Latin American business to US private equity company Stonepeak for US$2.7 billion (2022)
  • a foreign investor in its acquisition of a gas production company in Venezuela (2022)
  • Brown‑Forman Corporation as Venezuelan counsel in its $725 million acquisition of the Diplomático Rum brand and related assets (2022)
  • Calox, a leading Venezuelan pharmaceutical company, in its acquisition of Pfizer’s Venezuelan operations (2022)
  • KCA Deutag as Venezuelan counsel in its $550 million acquisition of Saipem’s onshore drilling business (2022) – closing is pending
  • Gerdau in the sale of its Venezuelan operation to a Latin American private equity fund (2022)
  • a Venezuelan pharmaceutical company in the sale of an equity participation to a U.S. private equity fund (2022)
  • Manuchar, a multinational chemical distribution company, as Venezuelan counsel in the sale of its LatAm operations to US private equity group Lone Star Funds (2022)
  • Grupo Werthein, a leading Argentine business group, as Venezuelan counsel in its acquisition of AT&T’s LatAm operations (2021) – this deal won the ‘Deal of the Year 2021: M&A (public)’ at Latin Lawyer’s 16th Deal of the Year Awards
  • Navent Group, a Buenos Aires-based property advertisement company, as Venezuelan counsel in its sale to Brazilian real estate platform Quinto Andar (2021) – this deal won the ‘Deal of the Year 2021: M&A (private)’ at Latin Lawyer’s 16th Deal of the Year Awards
  • Platinum Equity as Venezuelan counsel in its $4.2 billion acquisition of Urbaser, one of the world’s largest providers of environmental services, from China Tianying Inc (2021)
  • Teva Pharmaceutical Industries in the sale of its Venezuelan subsidiary Laboratorios Elmor to a private equity fund (2021)
  • a U.S. private equity fund in the acquisition of the corporate headquarters building of P&G – a real estate deal structured as a stock deal (2021)
  • the majority shareholders of Corimon, one of the largest Venezuelan industrial conglomerates, in the sale of their controlling interest to a U.S. private equity fund, and related tender offer (2020)
  • a multinational company from the chemical sector in the sale of its operations in Venezuela (2020)
  • DSV/Panalpina in the sale of its Venezuelan operation (2020)
  • Liberty Mutual in the sale of its Venezuelan operation (the biggest in Venezuela’s insurance industry) (2019)
  • Zurich Insurance Group in the sale of its Venezuelan subsidiary (2018)
  • Maurel & Prom in the acquisition of Shell’s stake in Petroregional del Lago, a Venezuelan oil joint venture company (2018)
  • Pirelli de Venezuela in the sale of its Venezuelan subsidiary to a Venezuelan investor (2018)
  • HP as Venezuelan counsel in the acquisition of Samsung Electronics’ printer business (2017)
  • Corimon Group in the acquisition of Bridgestone Firestone Venezolana C.A. (BFVZ) in the scope of the divestiture of the Venezuelan business by Bridgestone Americas (2016)
  • General Mills in the sale of its Venezuelan subsidiary to a Venezuelan investor (2016)
  • GE as Venezuelan counsel in its acquisition of the Power and Grid divisions of Alstom (2016)
  • Liberty Mutual in the sale of its Venezuelan subsidiary Seguros Caracas de Liberty Mutual, the largest Venezuelan insurance company, to an international investor (2016)
  • Fairfax in its proposed purchase of the AIG-owned Venezuelan insurance company (2016) – this transaction was signed but was not completed
  • Manufacturing and Logistics Solutions Limited, an independent and locally operated company, as Venezuelan counsel in the acquisition of the Venezuelan operations of Dana Holding Corporation (2015)
  • Rosneft as Venezuelan counsel in its acquisition of the drilling and well-servicing assets of oil and gas service company Precision Drilling from Weatherford International in Russia and Venezuela (2014)
  • Swarovski in the sale of its Venezuelan operations to an investor (2014)
  • BTG Pactual, Brazilian largest investment bank, as Venezuelan counsel in its acquisition of the Venezuelan subsidiary of GlobeNet from Oi – the transaction value of the global transaction was US$772 million (2013)
  • Rosneft as Venezuelan counsel in its acquisition of the oil and gas Venezuelan subsidiaries and joint venture participations of TNK-BP – the transaction value of the global transaction was US$55 billion (2013)
  • Swissport as Venezuelan counsel in the acquisition of the Venezuelan subsidiaries of one of its competitors Servisair from the French Derichebourg SA (2013)
  • Veolia Environment in the acquisition of the remaining stake in Proactiva Medio Ambiente from FCC (2013)
  • Cementos Bio, a Chilean company, in its sale of Venceramica, Venezuela’s largest manufacturer of toilet boils, to a group of Argentinian investors (2013)
  • The Carlyle Group as Venezuelan counsel in its acquisition of DuPont Performance Coatings (2013)
  • Toshiba Tec in its acquisition of a division of IBM in Venezuela (2012)
  • Xignux Group as Venezuelan counsel in its acquisition of Cables de Energía y de Telecomunicaciones S.A (Centelsa) (2012)
  • GrupoBrescia as Venezuelan counsel in the sale of Soldex S.A. and its subsidiaries to Colfax Corporation for US$235 million (2012)
  • KPN as Venezuelan counsel in the sale of Getronics International (2012)
  • Overseas Private Investment Company (OPIC) and SACE in the agreement with PDVSA Gas and Williams and Exterran for the compensation of the nationalization of El Furrial / Pigap II (2012)
  • Cemex in the agreement with the Venezuelan government for the compensation of the nationalization of Cemex Venezuela (2011)
  • Falck in its acquisition of the Venezuelan subsidiary of the EMI Group (2011)
  • United Airlines in the merger of the Venezuelan branches of United and Continental Airlines (2010)
  • AEI and The Williams Companies Inc. in the sale of Accroven to PDVSA Gas for US$214 million (2010)
  • Groupe Casino in its agreement with the Venezuelan government in connection with the nationalization of Exito (2010)
  • Banco Santander in the sale of Banco de Venezuela to the Venezuelan government for US$1.05 billion (2009)
  • Econoinvest Casa de Bolsa in the tender offer by the Ministry of Telecom and Information for the shares of Compañía Anónima Nacional Teléfonos de Venezuela (CANTV) (2009)
  • Ternium in its agreement with the Venezuelan government of US$1.97 billion in connection with the nationalization of Sidor (2009)
  • Cemex in the nationalization of Cemex Venezuela by the Venezuelan government (2009)
  • Soldexa in its purchase of Comelven (2008)
  • DaimlerChrysler as Venezuelan counsel in the transfer of its majority interest in the Chrysler Group to a subsidiary of Cerberus Capital Management, L.P. (2008)
  • Global Crossing as Venezuelan counsel in its merger with Impsat (2007)
  • Ashmore Energy International in the sale of its shares in Vengas S.A. (Vengas) to PDVSA Gas S.A. (2007)
  • General Cable Corporation as Venezuelan counsel in the purchase of Phelps Dodge Corporation for approximately US$735 million (2007)
  • The Carlyle Group as Venezuelan counsel in the purchase of the Engineered Products Division of The Goodyear Tire & Rubber Company for US$1.475 billion (2007)
  • McDonald’s Corporation as Venezuelan counsel in its franchising of nearly 1,600 existing restaurants in Latin America and the Caribbean to a developmental licensee organization led by Woods Staton for US$700 million (2007) – this transaction was ranked by Latin Lawyer as the best M&A Latin American transaction in 2007
  • ABN Amro and Econoinvest Casa de Bolsa in the tender offer for Compañía Anónima Nacional Teléfonos de Venezuela (CANTV) made by the Bolivarian Republic of Venezuela for US$1.7 billion (2007)
  • the Board of Directors of C.A. La Electricidad de Caracas (EDC) in the tender offer for EDC made by Petróleos de Venezuela, S.A. (PDVSA) for US$900 million (2007)
  • Teléfonos de México, S.A. de C.V. (Telmex) and América Móvil, S.A. de C.V. in their agreement with Verizon Communications, Inc. to acquire Verizon’s equity interest in Compañía Anónima Nacional Teléfonos de Venezuela (CANTV) for US$676.6 million (2006) – this transaction was signed but was not completed due to the Venezuelan government’s decision to nationalize CANTV
  • Telecom Italia Mobile (TIM) in the sale of its shares in Corporación Digitel to Telvenco, S.A. for US$425 million (2006)
  • Maurel & Prom in its purchase of Venezuelan and Colombian oil assets from Knightsbridge Petroleum for US$460 million (2005)
  • Associated British Foods (ABF) in its acquisition of the Venezuelan assets of Burns Philp (2004)
  • Ternium Sidor and Tenaris in their joint US$120 million purchase of Posven’s pre-reduced hot briquetted iron (HBI) plant in Ciudad Guayana, Venezuela (2004)
  • Telecom Italia Mobile (TIM) in its purchase of the remaining minority shareholdings in Corporación Digitel (2004)
  • Coca-Cola FEMSA as Venezuelan counsel in its acquisition of Panamco (2003)
  • Empresas Polar in the US$568 million sale of its shares in Backus & Johnston to Grupo Empresarial Bavaria (2003)
  • BASF in the establishment of a joint venture company for the animal nutrition business with Calier Internacional (2002)
  • General Electric Company as Venezuelan counsel in its acquisition of BetzDearborn’s water treatment division (2001)
  • The AES Corporation in its US$1.4 billion unsolicited tender offer for CANTV (2001) – not completed
  • Empresas Polar in its US$501 million successful tender offer for Mavesa (2001)
  • Bristol-Myers Squibb de Venezuela in the sale of its Clairol business to P&G (2001)
  • Loctite de Venezuela in its merger with Henkel Venezolana (2001)
  • ABN AMRO in the sale of its consumer banking assets to Banco del Caribe (2001)
  • Inepetrol and Empresas Polar in their acquisition of three subsidiaries of British Petroleum (BP) (2000)
  • Bon Bril in the sale of its Venezuelan assets to Corporación Clorox de Venezuela (2000)
  • BASF Venezolana in its acquisition of the Venezuelan pesticide assets of Cyanamid de Venezuela (2000)
  • Telecom Italia Mobile (TIM) in its acquisition of a controlling interest in Corporación Digitel (2000)
  • The AES Corporation in its US$1.8 billion unsolicited tender offer for La Electricidad de Caracas (EDC) and Corporación EDC (2000) – one of the largest unsolicited offers successfully completed in Latin America
  • The Coca-Cola Company in the formation of a joint venture company with The Cisneros Group (1996)
  • Cemex in its acquisition of Vencemos (1994)