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Francisco advises on corporate law, mergers and acquisitions, joint ventures and banking. Clients also seek his knowledge and experience in regulatory matters and financial and foreign investment transactions.
Undaunted by scale or complexity, he has worked on a number of landmark and high profile deals, including the sale of Comex Mexico to PPG Industries, which was one of the largest M&A transactions in Mexico in 2014. Other major clients to have benefited from his representation in this area include ICBC, Shinhan Bank, Comex, Principal Financial Group, and Kansas City Southern.
Francisco is an undisputed market leader in obtaining regulatory authorizations for the establishment, operation and mergers and acquisitions of financial institutions in Mexico.
As both bank financing and bank regulatory counsel, Francisco has advised on precedent-setting mandates for the financial services sector in Mexico.
Francisco's track record and reputation have also led to his appointment as an independent director within several Mexican financial institutions, which have also called upon him to chair various committees. Over the years, Francisco has acquired a reputation for being a well-rounded, transaction-oriented lawyer with unparalleled technical skills. Clients and peers regularly request Francisco's counsel in legal and business matters. Financial regulators often ask for Francisco's comments and views to drafts of new laws and regulations. Legal 500 recognizes Francisco's skills stating that he is noted for his "excellent relations with the relevant authorities". In addition, the magazine Law360 recently named Francisco among its list of "Rising Stars 360", which includes only 179 lawyers under 40 years worldwide, which were selected based on the achievements accomplished in their respective areas of practice.
Francisco represented Principal Afore, a pension fund manager and subsidiary of Principal Financial Group Inc. (PFG), in its full ownership acquisition of MetLife Afore. MetLife, Inc.'s pension fund management business in Mexico.
Francisco represented BlackRock Inc. in its acquisition of the asset management business of Citibanamex, a subsidiary of Citigroup Inc. and the execution of a distribution agreement under which Citibanamex will distribute certain investment products offered by BlackRock. The transaction involves approximately US$31 billion in assets under management.
Francisco advised KEB Hana Bank, the largest banking institution in South Korea, in the process of obtaining a license to incorporate a subsidiary multiple banking institution in Mexico. The authorization was granted by the Board of Governors of the Mexican National Banking and Securities Commission with the favorable opinion of the Central Bank. This is the second license granted to a Korean bank to establish a banking subsidiary in Mexico. It is expected that KEB Hana Bank Mexico will commence operations in 2018.
Francisco represented Proteak Uno, one of Mexico's leading companies in the forestry industry, as borrower on US$65 million parallel loan facilities from lenders International Finance Corporation and Société de Promotion et de Participation Pour la Coopération Économique. The proceeds of the loans will be used to develop 10,000 new hectares of teak and eucalyptus plantations and to pay off debt.
Francisco represented Shinhan Bank Co., Ltd., the largest bank in South Korea, in the process of obtaining a license to incorporate a multiple banking institution in Mexico. This license is the first one granted to a Korean bank in Mexico.
Following our work with Consorcio Comex in the sale of the capital stock of Comex Mexico to PPG Industries, Inc., Francisco represented Consorcio Latinoamericano, S.A. and its shareholders in the acquisition of Comex Central America by PPG Industries, Inc. Consorcio Latinoamericano, operates a network of 57 paint stores across Central and South America.
Francisco represented Quanta Shares by Intercam, an affiliate of Intercam Grupo Financiero, as settlor and financial advisor in the public offering of two new domestic exchange traded funds (ETF) products (PSOTRAC and DLRTRAC) and their listing with the Mexican Stock Exchange.
Francisco represented Consorcio Comex and its shareholders in the US$2.3 billion acquisition of Comex Mexico by PPG Industries, Inc. The deal was one of the largest M&A transactions of the year in Mexico. This was a high-impact transaction that involved extensive negotiations, the complexity of which was compounded by a variety of contractual, antitrust and financial issues.
Francisco was part of the international White & Case team which represented ICBC, the world's largest bank by total assets, in obtaining a license to incorporate and operate a banking institution in Mexico. The authorization granted by the Board of Governors of the National Banking and Securities Commission of Mexico is the first-ever license granted by the Mexican Government to a Chinese bank. It is also the first ever license granted in Mexico to a foreign government (the government of the People's Republic of China), to own a controlling indirect participation in a Mexican banking institution.
Francisco was part of the White & Case team which represented Impulsora y Promotora BlackRock México, (BlackRock), a subsidiary of BlackRock Inc., the largest asset manager in the world, as administrative agent and investment manager in the public offering of a new domestic exchange traded fund (ETF) product (iShares S&P 500 Peso Hedged TRAC) and its listing with the Mexican Stock Exchange. This is the first ETF issued in the Mexican market which tracks a foreign ETF with exposure to foreign assets, and BlackRock's third offering of domestic ETFs in the Mexican market in 2014.
Francisco was part of the White & Case team which advised Grupo Fomento Queretano on its merger with Coca Cola Femsa. This strategic transaction, with a value of Ps 6,600 million, represented a significant expansion of Coca Cola Femsa's Mexican operations, allowing it to increase its participation in one of the leading sugar producers in the country.
Author "Corporate Governance and Directors' Duties in Mexico: Overview" Practical Law (Dec 2017)