Insight

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

"Lawyer of the Year"


Lawyer poses for legal headshot in purple dress

Eva Davis

Corporate Law

Los Angeles, CA

2025

Best Lawyers Expands With New Artificial Intelligence Practice Area


by Best Lawyers

Best Lawyers introduces Artificial Intelligence Law to recognize attorneys leading the way in AI-related legal issues and innovation.

AI network expanding in front of bookshelf

Misinformation Age


by Gregory Sirico

As AI weaponizes lies, can global law, corporate business practices and legal associates adapt to the growing threat?

Animated hands shifting sides of a message cube

Trending Articles

2025 Best Lawyers Awards Announced: Honoring Outstanding Legal Professionals Across the U.S.


by Jennifer Verta

Introducing the 31st edition of The Best Lawyers in America and the fifth edition of Best Lawyers: Ones to Watch in America.

Digital map of the United States illuminated by numerous bright lights

Unveiling the 2025 Best Lawyers Awards Canada: Celebrating Legal Excellence


by Jennifer Verta

Presenting the 19th edition of The Best Lawyers in Canada and the 4th edition of Best Lawyers: Ones to Watch in Canada.

Digital map of Canadathis on illuminated by numerous bright lights

Legal Distinction on Display: 15th Edition of The Best Lawyers in France™


by Best Lawyers

The industry’s best lawyers and firms working in France are revealed in the newly released, comprehensive the 15th Edition of The Best Lawyers in France™.

French flag in front of country's outline

Presenting the 2025 Best Lawyers Editions in Chile, Colombia, Peru and Puerto Rico


by Jennifer Verta

Celebrating top legal professionals in South America and the Caribbean.

Flags of Puerto Rico, Chile, Colombia, and Peru, representing countries featured in the Best Lawyers

Unveiling the 2025 Best Lawyers Editions in Brazil, Mexico, Portugal and South Africa


by Jennifer Verta

Best Lawyers celebrates the finest in law, reaffirming its commitment to the global legal community.

Flags of Brazil, Mexico, Portugal and South Africa, representing Best Lawyers countries

Announcing the 13th Edition of Best Lawyers Rankings in the United Kingdom


by Best Lawyers

Best Lawyers is proud to announce the newest edition of legal rankings in the United Kingdom, marking the 13th consecutive edition of awards in the country.

British flag in front of country's outline

Discover The Best Lawyers in Spain 2025 Edition


by Jennifer Verta

Highlighting Spain’s leading legal professionals and rising talents.

Flags of Spain, representing Best Lawyers country

Prop 36 California 2024: California’s Path to Stricter Sentencing and Criminal Justice Reform


by Jennifer Verta

Explore how Prop 36 could shape California's sentencing laws and justice reform.

Illustrated Hands Breaking Chains Against a Bright Red Background

Announcing the 16th Edition of the Best Lawyers in Germany Rankings


by Best Lawyers

Best Lawyers announces the 16th edition of The Best Lawyers in Germany™, featuring a unique set of rankings that highlights Germany's top legal talent.

German flag in front of country's outline

Celebrating Excellence in Law: 11th Edition of Best Lawyers in Italy™


by Best Lawyers

Best Lawyers announces the 11th edition of The Best Lawyers in Italy™, which features an elite list of awards showcasing Italy's current legal talent.

Italian flag in front of country's outline

Tampa Appeals Court ‘Sends Clear Message,” Ensuring School Tax Referendum Stays on Ballot


by Gregory Sirico

Hillsborough County's tax referendum is back on the 2024 ballot, promising $177 million for schools and empowering residents to decide the future of education.

Graduation cap in air surrounded by pencils and money

Find the Best Lawyers for Your Needs


by Jennifer Verta

Discover how Best Lawyers simplifies the attorney search process.

A focused woman with dark hair wearing a green top and beige blazer, working on a tablet in a dimly

Key Developments and Trends in U.S. Commercial Litigation


by Justin Smulison

Whether it's multibillion-dollar water cleanliness verdicts or college athletes vying for the right to compensation, the state of litigation remains strong.

Basketball sits in front of stacks of money

Woman on a Mission


by Rebecca Blackwell

Baker Botts partner and intellectual property chair Christa Brown-Sanford discusses how she juggles work, personal life, being a mentor and leadership duties.

Woman in green dress crossing her arms and posing for headshot

Best Lawyers Celebrates Women in the Law: Ninth Edition


by Alliccia Odeyemi

Released in both print and digital form, Best Lawyers Ninth Edition of Women in the Law features stories of inspiring leadership and timely legal issues.

Lawyer in green dress stands with hands on table and cityscape in background

The Human Cost


by Justin Smulison

2 new EU laws aim to reshape global business by enforcing ethical supply chains, focusing on human rights and sustainability

Worker wearing hat stands in field carrying equipemtn