Deal Note: Gibson Dunn Represents Scotiabank Inverlat in Financing of Grupo Lamosa’s Acquisition of Porcelanite

December 17, 2007

Gibson, Dunn & Crutcher LLP’s Latin America Practice Group is pleased to announce its representation of Scotiabank Inverlat, SA and other senior lenders in connection with the two-tier financing of Grupo Lamosa’s acquisition of Porcelanite from Carlos Slim.  The syndicated, multi-currency financing transaction closed on November 30, 2007.

A 14 bank syndicate comprising the financing’s first tier was led by Scotia Capital with the participation of BBVA, Banamex, Comerica, HSBC, JP Morgan, Unicredit, Banorte, ING, Merrill Lynch, Inbursa, ABN-AMRO, Santander and West LB. The financing’s second tier was provided by Ontario Teachers Pension Plan, in a ground-breaking partnership with Scotia Capital. The purchase price was approximately $807 million dollars, free of net debt, and was financed through a joint credit line of up to $900 million dollars, of which initially $825 million were made available as term loans with an average term of 5.6 years, with the remainder consisting of a revolving credit facility available for a term of 3 years.

Gibson Dunn’s team is led by William Candelaria, a partner in the firm’s Corporate Transactions and Latin America Practice Groups, and includes Yair Galil, Diego Valdes and Kandice Stetson.

Gibson, Dunn & Crutcher LLP

For more than thirty years Gibson, Dunn & Crutcher lawyers have acted on behalf of a wide variety of North American, European and Latin American clients in diverse transactions throughout most of Latin America. Gibson Dunn’s Latin America Practice Group is part of the Firm’s commitment to providing global legal services for our clients. The group draws on the legal as well as the linguistic and cultural expertise of its members to advise its broad base of transnational clients.   

For additional information on this matter, please contact the Gibson Dunn attorney with whom you work, William Candelaria (212-351-2626, [email protected]) in Gibson Dunn’s New York office, or any member of the firm’s Latin America Practice Group.  

© 2007 Gibson, Dunn & Crutcher LLP

Attorney Advertising: The enclosed materials have been prepared for general informational purposes only and are not intended as legal advice.