Why Cariola Díez Pérez-Cotapos Developed Its Own Legal Tech

Juan Pablo Matus of Cariola Díez Pérez-Cotapos, 2019 "Law Firm of the Year" award for Corporate and M&A Law in Chile, discusses his firm's joint venture with Cognitiva in creating Lexnova, a legal AI system.

Cariola Díez Pérez-Cotapos Interview
Best Lawyers

Best Lawyers

May 17, 2019 09:56 AM

For Cariola Díez Pérez-Cotapos, winner of the 2019 “Law Firm of the Year” award for Corporate and M&A Law in Chile, maintaining a competitive edge requires a continuous investment in their lawyers’ training and an expert focus on client relationships. In an interview with Best Lawyers CEO Phillip Greer, Cariola partner Juan Pablo Matus offers his account of the firm’s exceptional year.

What achievements are you most proud of from this past year that led to Cariola Díez Pérez-Cotapos being named a "Law Firm of the Year" for Corporate and M&A Law?

Juan Pablo Matus: We are proud that our firm advised the buyer companies in some of the most relevant M&A transactions of last year in Chile, such as the CDF and the Australis transactions. In the CDF case, we advised Turner International Latin America and in the Australis case, we advised Joyvio Group. Both transactions had an extended and complex negotiation period.

Your firm recently advised Turner International Latin America on their acquisition of Canal del Futbol. Can you tell us a little about the case and some of the strategies the firm uses when tackling a large international case like this one?

Our firm represented Turner in the acquisition of Canal del Fútbol (CDF) from the Chilean Football Association (ANFP) and Gestión de Televisión Limitada (GTV), and the transmission rights of the Chilean Football Leagues for the next 15 years. The value of the deal was approximately $1.2 billion.

The closing was subject to the completion of certain conditions, the most important being the approval of the transaction by the local Competition Agency.

The National Competition Agency (FNE) performed a detailed analysis of the transaction in a procedure which lasted around 10 months. This was the fourth transaction whose pre-merger investigation advanced to Phase II in Chilean current merger control system, the second transaction approved in Phase II and the first one approved conditionally (i.e. subject to mitigation measures) in such phase. The parties submitted a total of five proposals of mitigation measures to the FNE, in relation to which the FNE conducted two market tests, consisting of summoning third parties to receive their formal opinion about the parties’ proposal.

In this procedure, more than 15 companies submitted information and over 30 executives from both the parties and third parties appeared to declare before FNE staff. Economists from Chile, the United States, and the United Kingdom submitted reports or opinions about the transaction, the competitive risks identified by the FNE and the parties’ proposals of mitigation measures.

Both M&A and antitrust teams were actively involved in the procedure before the FNE, as the risks identified by the FNE and the mitigation measures offered by the parties encompassed several commercial and competition issues and elements.

Can you tell us about one or two of your other landmark cases?

We advised Joyvio Group Co., Ltd. (a subsidiary of Legend Holdings) in the purchase promise agreement to acquire the listed salmon producer Australis Seafoods S.A., in a deal worth approximately $880 million. This transaction would be settled through a tender offer for up to 100 percent of the shares of Australis. This transaction is subject to complying with conditions precedent, including regulatory approvals.

Also, we advised Accor in the acquisition of Atton Hoteles, a Chilean group with operations in Chile, Peru, Colombia, and Miami. The acquisition was made by Accor and Algeciras, a local company, will have a stake of 80 percent in the company holding the assets, and Accor will have the remaining 20 percent and will be the exclusive operator and manager of the hotels currently owned or being developed by the target. The value of this transaction was $365 million.

Both M&A and antitrust teams were actively involved in the procedure before the FNE, as the risks identified by the FNE and the mitigation measures offered by the parties encompassed several commercial and competition issues and elements.

Are there any other attorneys at your firm whom you would like to recognize who greatly assisted the firm in winning these decisions?

Yes, our senior partner Francisco Javier Illanes and our junior partner Pedro Lluch were particularly active in M&A work last year.

Does your firm encourage your attorneys to continue their legal education even after years of practicing law? What resources do you provide for attorneys interested in ongoing education in law or in developing other professional skills?

Yes, in Chile and abroad. They participate in conferences and seminars as speakers and carry out postgraduate studies abroad specially in the United States, England, and Europe. Our lawyers also spent time abroad training with international law firms. So, this enhanced their foreign language skills as well as their exposure to the international legal environment.

Can you tell us a little about your firm’s partnerships with local universities and law students?

Our firm has a permanent and relevant dedication to pro bono work. We have a pro bono committee led by a partner and a senior associate. We are members of the Pro Bono Foundation and also of TrustLaw, a Thomson Reuters Foundation's global pro bono legal program. Pro bono work is highly appreciated by our attorneys and is considered in the evaluation of our associates.

We have scholarship programs for law students at the Universidad de Chile and the Pontificia Universidad Católica de Chile law schools.

In what ways has technology affected Corporate and M&A Law?

I would say that being up to date in technology infrastructure is key to provide an excellent and on-time service to our clients.

On the technology side, our firm has an alliance with Cognitiva, an IBM partner, at the forefront of developing solutions using artificial intelligence in Spanish, primarily using Watson technology. As a result of this alliance, our firm and Cognitiva created a joint venture called Lexnova, which will provide innovative products and services in all the Spanish-speaking countries of Latin America, using artificial intelligence.

How does Cariola Díez Pérez-Cotapos stay agile against competitors in Corporate and M&A Law?

We always focus on the quality of our attorneys. If we want to stay agile against competitors, we need to have the best available legal team not only in Corporate and M&A but also in all practice areas.

Related Articles

Working With Changes

by Best Lawyers

Carolyn Pugsley, the Joint Global Head of Practice for Corporate, Australia at Herbert Smith and Freehills, discusses policy changes affecting the M&A market in Australia as well as the impact of the pandemic on the practice.

An Interview With Herbert Smith and Freehills

The Future of German Technology

by Best Lawyers

How Germany's Law Firm of the Year in Information Technology is leading the way.

Isabell Conrad Schneider Schiffer Weihermulle

How Corporate Law in France Is Navigating the Trade Wars

by Best Lawyers

Bertrand Cardi and Cyril Bonan discuss M&A, protectionism, and the trade wars' impact in France.

An Interview With Darrois Villey Maillot Broc

Hengeler Mueller on How German Firms Can Compete in the Global M&A Arena

by Best Lawyers

Germany's 2020 “Law Firm of the Year” honoree in Mergers and Acquisitions Law

An Interview With Hengeler Mueller

On the Cutting Edge After a Century in Business

by Best Lawyers

Manuel Carvallo of Estudio Carvallo Abogados discusses his firm's 130-year-old history, adapting to the latest technologies, and its 2019 "Law Firm of the Year" award for Insurance Law in Chile.

Estudio Carvallo Law Firm of the Year

Baraona Fischer & Cia on the Changes Coming to Tax Law in Chile

by Best Lawyers

Juan Manuel Baraona of the 2019 "Law Firm of the Year" award-winner for Tax Law in Chile discusses forthcoming regulations, career highlights, and his secrets to success in an interview with Best Lawyers CEO Phillip Greer.

Baraona Fischer & Cia LFOTY

Technology and the Changing IP Climate in Mexico

by Best Lawyers

Roberto Arochi discusses Arochi & Lindner’s 2019 “Law Firm of the Year” award for Intellectual Property Law in Mexico in an interview with Best Lawyers.

Arochi & Lindner "Law Firm of the Year" Q&A

A Startup Accelerator Program Sets Cuatrecasas Apart

by Best Lawyers

Miguel de Almada and Frederico Bettencourt Ferreira from the Portuguese firm discuss their 2019 "Law Firm of the Year" award for Litigation and Arbitration.

Cuatrecasas "Law Firm of the Year"

Opening Pandora's Box in Portuguese Tax Law

by Best Lawyers

Diogo Ortigão Ramos discusses Cuatrecasas' 2019 "Law Firm of the Year" award for tax law in Portugal.

Cuatrecasas Law Firm of the Year Interview

How AEQUO Is Embracing Legal Tech

by Best Lawyers

Anna Babych discusses AEQUO's 2019 Ukranian "Law Firm of the Year" award in Mergers & Acquisitions Law with Best Lawyers.

AEQUO "Law Firm of the Year" Interview

What the Seller-Friendly Market Means for Private Equity

by Best Lawyers

JP Bogden and Kurt Sarno of 2019 Canadian "Law Firm of the Year" award-winner Blakes discuss trends in the private equity sector.

Blakes 2019 "Law Firm of the Year" Interview

Thomas Thalhofer of Noerr on the Future of German IT Law

by Best Lawyers

Noerr received the 2019 "Law Firm of the Year" award for Information Tehcnology Law in Germany.

GDPR's Impact on German Business

Q&A with Pablo Perezalonso Eguía of Ritch Mueller

by Best Lawyers

An interview with Pablo Perezalonso Eguía of 2018 Mexican "Law Firm of the Year" Ritch Mueller.

Pablo Perezalonso Eguía – Ritch Mueller


Beyond Business: The Personal Touch in M&A Transactions

by Justin Smulison

The stakes are always high in a business transaction because real people are often embarking on a once-in-a-lifetime event. Tiffany & Bosco M&A/Business Solutions Practice Group co-chairs Jim O’Sullivan and May Lu discuss their approach to helping business leaders make life-changing decisions and how professional partnerships strengthen their results.

Headshot of male lawyer in dark suit and red tie, and headshot of female lawyer in dark suit and gla

Announcing The Best Lawyers in Germany™ 2023

by Best Lawyers

The results include an elite field of top lawyers and firms from Germany.

Black, red and yellow stripes

Announcing The Best Lawyers in Switzerland™ 2023

by Best Lawyers

The results include an elite field of top lawyers and firms from Switzerland.

Red flag with white cross

Trending Articles

A Celebration of Excellence: The Best Lawyers in Canada 2024 Awards

by Best Lawyers

As we embark on the 18th edition of The Best Lawyers in Canada™, we are excited to highlight excellence and top legal talent across the country.

Abstract image of red and white Canada flag in triangles

The Long, Short, Thick and Thin of It

by Avrohom Gefen

“Appearance discrimination” based on employees’ height and weight is the latest hot-button issue in employment law. Here’s a guide to avoid discrimination.

Woman stands in front of mirror holding suit jacket

Trailblazing Titans of the Industry: Announcing the 4th Edition Best Lawyers: Ones to Watch® in America

by Best Lawyers

Best Lawyers honor and celebrate these talented, innovative newer lawyers who are trailblazing their way to victories in courtrooms across the country.

Connected web above map of the U.S.

Announcing the 2023 The Best Lawyers in America Honorees

by Best Lawyers

Only the top 5.3% of all practicing lawyers in the U.S. were selected by their peers for inclusion in the 29th edition of The Best Lawyers in America®.

Gold strings and dots connecting to form US map

Pearls of Wisdom: Celebrating 30 Editions of Best Lawyers’ Rankings

by Best Lawyers

In celebration of our landmark 30th edition, Best Lawyers’ leadership explains how the world’s original and most trusted legal awards maintain their esteem, integrity and reputation for excellence among the top legal entities and their clients.

Best Lawyers logo for 30th edition release with gold glitter in background

Vanguards of Victory: Best Lawyers: Ones to Watch in Canada 2024

by Best Lawyers

The third edition of Best Lawyers: Ones to Watch in Canada™ has been announced, and the lawyers showcased by these awards are rising to the challenge each day as advocates for clients all across the country.

Blue and black background with small squares connected by lines

Best Lawyers: Ones to Watch in America for 2023

by Best Lawyers

The third edition of Best Lawyers: Ones to Watch in America™ highlights the legal talent of lawyers who have been in practice less than 10 years.

Three arrows made of lines and dots on blue background

Announcing the 2023 The Best Lawyers in Canada Honorees

by Best Lawyers

The Best Lawyers in Canada™ is entering its 17th edition for 2023. We highlight the elite lawyers awarded this year.

Red map of Canada with white lines and dots

The Best Lawyers in South Africa™ 2023

by Best Lawyers

Best Lawyers proudly announces lawyers recognized in South Africa for 2023.

South African flag


Thomson Rogers: Toronto Personal Injury Lawyers

by Thomson Rogers

Since establishment in 1935, Toronto-based firm Thomson Rogers has consistently delivered results for their clients struggling through complex litigation.

Top of a Staircase Featuring Two Large Black Doors with Bookshelves and Chairs on Each Side

What the Courts Say About Recording in the Classroom

by Christina Henagen Peer and Peter Zawadski

Students and parents are increasingly asking to use audio devices to record what's being said in the classroom. But is it legal? A recent ruling offer gives the answer to a question confusing parents and administrators alike.

Is It Legal for Students to Record Teachers?


How Long Does a Felony Stay On Your Record in California

by Peter Blair

A felony can remain on your record for life in California. Some felonies qualify for expungement. Learn how to remove a felony conviction from your record in California.

Hand setting bird free out of a guarded fence

Incendiary Behavior

by Lyssa A. Roberts and Rahul Ravipudi

California’s future will see more frequent wildfires caused by faulty equipment. Litigation tied to recent Golden State infernos shows the way forward.

Mountain range with glow of wildfires behind it

The Upcycle Conundrum

by Karen Kreider Gaunt

Laudable or litigious? What you need to know about potential copyright and trademark infringement when repurposing products.

Repurposed Products and Copyright Infringemen

Announcing the 2022 Best Lawyers® in the United States

by Best Lawyers

The results include an elite field of top lawyers listed in the 28th Edition of The Best Lawyers in America® and in the 2nd Edition of Best Lawyers: Ones to Watch in America for 2022.

2022 Best Lawyers Listings for United States

The Best Lawyers in Australia™ 2024 Launch

by Best Lawyers

Best Lawyers is excited to announce The Best Lawyers in Australia™ for 2023, including the top lawyers and law firms from Australia.

Australian Parliament beside water at sunset