

Biography
Alberto Sepúlveda is a partner in White & Case's Global Mergers & Acquisitions Practice, based in Mexico City. He has more than 40 years of experience advising multinational corporations, financial institutions, investors and government entities on complex cross-border transactions and regulatory matters across Latin America.
Alberto's practice spans mergers and acquisitions, capital markets, financial regulation, corporate governance, joint ventures and privatizations, with a particular focus on industries such as financial services, retail, consumer goods, industrials, infrastructure, and telecommunications. His extensive transactional experience is complemented by a deep understanding of the regulatory and political environment in Mexico and the wider Latin American region.
Prior to rejoining White & Case, Alberto served as General Counsel, Corporate Secretary, and Head of Legal and Corporate Security at Wal Mart de México, S.A.B. de C.V., the publicly listed Mexican subsidiary of Walmart Inc. In this senior executive role, Alberto led the company's legal and corporate affairs function through complex regulatory matters, high-stakes negotiations, and the successful execution of strategic divestitures, including its banking, restaurant and apparel operations. His leadership in one of Mexico's largest corporations adds a unique in-house perspective that strengthens his ability to advise clients navigating challenging cross-border legal and business environments.
Alberto has also played a key role in shaping Mexico's financial regulatory framework. He actively participated in the drafting of Mexico's 2006 Securities Market Law and its enabling regulations, giving him uncommon insight into financial markets regulation that continues to benefit clients involved in sophisticated capital markets and regulatory-driven transactions.
Clients value Alberto's ability to combine legal excellence with business judgment, his extensive relationships across regulatory agencies, financial markets and boardrooms, and his proven track record managing complex, multi-jurisdictional matters. His return to White & Case further strengthens the Firm's leadership position advising on Mexico's most sophisticated and high-profile transactions.
Alberto Sepúlveda's legal career reflects a rare combination of private practice excellence and senior executive experience at one of the region's largest public companies.
Alberto first joined White & Case in 1995, building a highly respected practice advising domestic and international clients on mergers and acquisitions, capital markets, joint ventures, privatizations, corporate restructurings, and financial regulatory matters. During this period, he advised on some of Mexico's most significant transactions, including representing Banamex in the acquisitions of Banco Uno (Guatemala, Honduras, Costa Rica), Grupo Cuscatlán (El Salvador) and Banco Bansud (Argentina), as well as representing the Banacci shareholders in the US$12.5 billion sale to Citi, one of the most transformative financial transactions in Mexico's history.
Alberto's experience also includes leading privatization mandates for the Mexican Federal Government, such as Teléfonos de México, Banamex, and Altos Hornos de México. He has acted for both buyers and sellers in highly strategic, cross-border transactions across multiple industries, including financial institutions, consumer goods, retail, infrastructure, steel manufacturing and telecommunications. His client roster includes major domestic and international companies, private equity investors, financial sponsors and public sector entities.
In 2013, Alberto transitioned to Wal Mart de México, where he served for over a decade as General Counsel, Corporate Secretary and Head of Legal and Corporate Security. In that role, he oversaw legal strategy for the company's growth, operations and regulatory compliance across Mexico and Central America, working closely with regulators, government authorities and boards of directors. He led major corporate divestitures, including the sale of Vip's restaurant chain to Alsea, Banco Wal Mart to Inbursa, and Suburbia to El Puerto de Liverpool. He also led complex negotiations with Mexico's tax and antitrust authorities, helping to successfully resolve significant regulatory investigations and compliance matters.
Throughout his career, Alberto has earned the trust of clients, regulators, and market participants for his ability to navigate the legal, regulatory, and business challenges of operating in Mexico and Latin America. His combination of legal expertise, business leadership, and regulatory insight positions him as a trusted advisor for clients executing their most significant and sensitive transactions.
His return to White & Case allows clients to benefit from his unique perspective at the intersection of law, business, regulation and public policy, backed by White & Case's fully integrated global platform.
Experience
Mergers and Acquisitions / Privatizations
- Advised Banacci shareholders on the US$12.5 billion sale of Grupo Financiero Banamex Accival to Citi.
- Represented Banamex in its strategic acquisitions of Banco Uno (Guatemala, Honduras, Costa Rica), Grupo Cuscatlán (El Salvador) and Banco Bansud (Argentina).
- Represented Wal-Mart de México in its acquisition of Walmart's Central American operations across Guatemala, Costa Rica, Nicaragua, El Salvador and Honduras.
- Led Wal-Mart de México's internal legal and M&A teams on the sale of its Vip's restaurant chain to Alsea, Banco Wal-Mart to Inbursa, and Suburbia apparel chain to El Puerto de Liverpool.
- Represented Grupo IMSA's controlling shareholders in the US$3.2 billion sale of the company to Ternium.
- Advised the shareholders of Grupo Financiero BITAL on its sale to HSBC.
- Represented Carrefour in the sale of its Mexican operations to Grupo Comercial Chedraui.
- Advised Banamex and Citi on the sale of Citi's Chilean operations and joint venture formation with Banco de Chile.
- Represented Mexican investors in privatization bids for Teléfonos de México and Banco Nacional de México (Banamex).
- Participated in the team advising the Mexican Federal Government on the privatization of Altos Hornos de México and other steel and mining companies.
Capital Markets and Financial Regulation
- Actively participated in the drafting of Mexico's 2006 Securities Market Law and enabling secondary regulation.
- Advised the Mexican Federal Government on multiple global offerings for Teléfonos de México.
- Represented issuers and underwriters in global equity offerings for Grupo Televisa, Grupo Modelo, Grupo IMSA, Comercial Mexicana, El Puerto de Liverpool, CEMEX, Gruma, Empresas ICA, Grupo Posadas and others.
- Represented PEMEX in establishing its domestic debt program.
- Advised underwriters on inaugural and successive debt issuances (Cebures) by Mexican states and municipalities.
- Advised Banamex on multiple debt and securitization transactions, including subordinated debentures, 144A MTN programs, and future flow securitizations.
Joint Ventures
- Represented Cone Mills Corporation in its joint venture with Compañía Industrial de Parras to form Mexico's largest denim manufacturer.
- Advised Banamex in joint ventures with AEGON N.V. (insurance and pensions), McKesson (pharmaceutical distribution), Office Depot (retail), MBNA and Bank One (credit cards), Accenture (processing services), MABE and GE (appliances), Avantel/MCI (telecom), and CIE/CODERE (gaming).
Project Development and Finance
- Advised the lender group, led by the International Finance Corporation (IFC), in connection with Gas Natural's $1.45 billion acquisition of EDF's independent power project (IPP) plants in Mexico. The assets, which supplied power to the Mexican state-owned utility CFE, included four major facilities: Río Bravo, Saltillo, Río Bravo III, and Río Bravo IV.Led Walmex's successful defense before COFECE, reducing potential antitrust fines from US$2.7 billion to US$5 million.
- Represented US Ex-Im Bank in the $650 million financing of Alestra, a long-distance fiber optic telecommunications project in Mexico. The project was sponsored by Alfa, AT&T, GTE, Grupo Financiero Bancomer, and Telefónica Internacional de España.
Dispute Resolution
- Led Wal-Mart de México's negotiations with Mexico's IRS (SAT), resolving significant tax claims.
- Led Walmex's successful defense before COFECE, reducing potential antitrust fines from US$2.7 billion to US$5 million.
- Advised Banamex in resolving Congressional and Federal Government objections related to FOBAPROA's support during its capitalization program.
- Represented Scientific Games, Adobe, Oracle, and AutoZone in disputes in Mexico.