Structuring of Options, Financial
Derivative Transactions and
Treasury Transactions


UBS
2006 - 2007
The firm advised UBS on the Colombian legal aspects of the equity offering made by Bancolombia in the New York Stock Exchange. The transaction added up to a total of US$314.4 million.
Cargill Inversiones Limitada (Affiliate of Cargill Financial Services Inc.)
1997 – 2003
The firm advised Cargill Inversiones Ltda. and its Cayman Islands branch in the structuring of financial derivative transactions and, more specifically, in (i) Call and Put transactions on fixed income securities and foreign currency, (ii) Forward agreements on fixed income securities, foreign currency, peso/dollar market rate and interest rate and (iii) Swap transactions on interest rates and foreign currency and Credit Default Swaps.
Cargill Inversiones Limitada (Filial de Cargill Financial Services Inc.)
1997 – 2003
The firm advised Cargill Inversiones Ltda. and its Cayman Islands branch in the structuring of treasury operations and, more specifically, in (i) Repo transactions, (ii) Sell-Buy-Back and Buy-Sell-Back transactions, (iii) Temporary Security Transfer Transactions, (iv) Treasury Loans and (v) Risk Participation Agreement transactions.
Hewlett Packard
Company - Hewlett
Packard Colombia S. A. - Agilent Technologies
1998-1999

2001-2003
Muñoz Tamayo & Asociados has acted as counsel for Hewlett Packard Company and Hewlett Packard Colombia in the structuring and implementation in Colombia of the various incentive programs for their employees and, in particular, for the acquisition or option to acquire shares and options convertible into parent company shares by personnel employed in Colombia.
Nimes Development, Inc.
2002
The firm acted as legal counsel for the company Nimes Development, Inc. in the structuring of an option granted by the firm Gasoriente S. A. ESP for the purchase of a share package of Transgas de Occidente S. A.
Lloreda S. A.
2001
The firm advised Lloreda S. A in the implementation of a shareholders agreement, in which a Call Option was structured in favor of the company Proinve Ltda., granted by Corporación Financiera del Valle, to acquire shares in Lloreda S. A.
Teknecon Energy Risk Advisors LLC
2000
Muñoz Tamayo & Asociados advised Teknecon Energy Risk Advisors LLC in legal aspects related to the development of a project aimed at structuring the new Colombian electric power market, for which the National Government (Ministry of Mines and Energy and CREG), with resources provided by the World Bank, retained the firm Teknecon Energy Risk Advisors LLC to spin off ISA’s Centro Nacional de Despacho and structure the Electric Power Futures and Options Exchange, within the framework of the current Energy Exchange. One of the tasks included was the design and structuring of a master energy purchase option agreement for the Energy Exchange.
Publicaciones Semana
2000
Muñoz Tamayo & Asociados advised Publicaciones Semana in the legal instrumentation of certain correlative share purchase option rights of the company Grupo de Publicaciones Latinoamericanas - GPL in favor of some of its shareholders and beneficial owners.
Hewlett Packard Colombia S. A.
2000
The firm rendered professional services to Hewlett Packard Colombia S. A., for the execution with Expressline Corporation Ltda., of a purchase option agreement on a percentage of the shares of Expressnet S. A.
Lucent Technologies de Colombia S. A.
1999-2000
The firm advised Lucent Technologies de Colombia S. A. in the proceeding filed by Technology Corporation de Colombia S. A. and Comware S. A. as a result of the existence of a purchase option on fifty percent (50%) of the shares held by Technology Corporation de Colombia S. A., of those issued by Lucent Technologies Business Communications Systems Colombia S. A.
Marsh & McLennan
1998
Muñoz Tamayo & Asociados advised Marsh & McLennan in the acquisition of the control of Compañías De Lima and of the related group of insurance brokerage companies. The operation included the structuring of a series of Call Options in favor of Marsh & McLennan charged to the selling shareholders.
Rica Rondo
1997-1998
The firm advised the company Rica Rondo in the structuring of the share purchase options granted to some of its senior officers.
J.P. Morgan - Crédito Aval
1997
The firm assisted Morgan Guaranty Trust Company of New York in the legal and contractual structuring of a credit facility granted in the amount of US$100’000,000 to finance the acquisition of Ahorramas Corporación de Ahorro y Vivienda by a company belonging to the Organización Luis Carlos Sarmiento Angulo. The transaction included the structuring of certain Call Options in favor of JP Morgan, charged to certain autonomous equities and some of the shareholders of the Grupo Aval.
Jostens Inc.
1997
The firm acted as legal counsel in the implementation of a Joint Venture agreement between Jostens Inc., C.V. Jostens Global Trading and Jostens Canada, for one party, and Compañía Nacional de Chocolates, Industrias Alimenticias Noel S. A., Almacenes Éxito S. A., Corporación Financiera Nacional y Suramericana S. A., Compañía Suramericana de Construcciones S. A., Fundación Banco Industrial Colombiano, Distrihogar S. A. y Promotora de Proyectos S.A., for the other party, for the incorporation in Colombia of Reconocimientos S.A. In the Joint Venture Agreement entered into between the parties, respective call options for the purchase of all outstanding shares of Reconocimientos, should any of the events contemplated for the exercise of said options occur, were structured in favor of each group of shareholders.
Constructora Norberto Odebrecht
1996
Muñoz Tamayo & Asociados advised the Consortium led by Constructora Norberto Odebrecht in the preparation and legal structuring of the Put Option agreement between Consorcio Odebrecht/ABB/GMD/Kvaener and Isagen S. A. ESP regarding the fiduciary rights of the Consortium in the Miel I Trust.
Donaldson, Lufkin & Jenrette Merchant Banking
1995
The firm provided legal advisory services to this investment bank in the analysis and evaluation of a share package of a Colombian company of the industrial sector and in the structuring of a Put Option for the reacquisition of the shares by the sellers.


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