|
Colombia: Optimism Despite Earthquake
Uptick in M&As expected with new, business-friendly government.
BY JOACHIM BAMRUD
Lawyers at international law firms express optimism about the future of Colombia despite the recent earthquake.
“Colombia has the potential to embark on what could be one of its most dynamic cross-border transactional cycles in recent history,” says Carlos Ardila, a Corporate and Finance partner at Latham & Watkins.
Paola Lozano, Co-Chair of Skadden’s Latin America Group and head the firm’s Spanish language corporate practice, expects M&A activity to increase meaningfully.
“Despite the devastation caused by the earthquake, we are already getting an increased level of interest in local and cross border transactions, as well as a larger number of participants in auction processes,” she says.
Colombian lawyer Abelardo de la Espriella assumed the country’s presidency on August 7, replacing leftist President Gustavo Petro, whose four-year government was marred by investor-hostile policies, irresponsible fiscal policies, corruption and outright chaos.
“I want to tell Colombia’s business leaders — large, medium-sized and small — that this government will be your partner in investing in Colombia,” De La Espriella said in his inaugural speech in Cali, Colombia. “Once again, it will be a safe and profitable decision for you.”
De la Espriella’s choice of venue was…
Keywords: Colombia, Earthquake, Latham & Watkins, M&As, Paul Weiss, Skadden
SPECIAL REPORT: COLOMBIA OUTLOOK
Colombia: Optimism Despite Earthquake
