Matías Zegers

Matías Zegers

Matías Zegers focuses his practice on Mergers and Acquisitions, Corporate Governance and is considered one of the most experienced lawyers at Venture Capital in Chile, having advised local and foreign clients, both funds and large-scale ventures.

He is a reference at the local level of good Corporate Governance practices, advising leading national companies in different matters related to this subject, such as manuals, directors’ responsibilities, boards and committees, their evaluation, among others.

He has also participated in various purchase and sale operations of both open and closed companies, both domestic and foreign. He has also participated in Public Offers of Acquisition of Shares of diverse companies, privatization of electric and sanitary companies in Latin America, bond issues and commercial bills in the local market and in international markets, both registered and unregistered, representing fundamentally the issuers, and financing in the energy area.

Employment History

  • Partner, 2006 —
  • Other majors chilean firms, 1993-2001 / 2003-2006
  • Davis Polk & Wardwell, New York, 2002-2003

Recent Experience

M&A:

  • Cornershop and Uber: Advise on the acquisition of a majority percentage of Cornershop by Uber.
  • CarbonFree Chile SpA: Advise on the acquisition of more than 19 solar plant projects.
  • Accionistas de Cornershop (Chile – México): Advise on the potential sale of Cornershop to Walmart (US$225 million).
  • The Coca Cola Company – Andina – Embonor (USA – Chile): Advise on the purchase of 100% of Comercializadora Novaverde S.A.- “Guallarauco” (USD $80 million)

Venture Capital:

  • Khosla Ventures: Reinvestment of the client through Khosla Ventures Aguamarina Holdings, LLC, in the Chilean company Aguamarina SpA. They had already invested US$500,000 and now reinvested US$750,000 
  • Odd Industries: Advise the client on the first round of the US$2 million Seed Round investment, which was held by four Chilean investors.
  • FIP Fen Ventures II: Advise the client, an investment fund, which has a credit line with Corfo, in all the matters related with the daily functioning of the fund, including its relationship with Corfo. This fund is one of the main Chilean funds that is focused on Chilean tech companies.
  • Praxis Biotech SpA: A California-based company focused in the development of biotechnology for the pharmaceutical sector, in its establishment in Chile and in a corporate reorganization with the United States company.
  • Soluciones en Mineria y Energia SPA (Zyght): Advise in a Series A investment by VC firm Inversur
  • GeneproDX Chile SpA: In the negotiation, structuring and closing of a Series Seed financing round by Inmobiliaria Las Agatas Limitada and Empresas UC SA (investment company of the Pontificia Universidad Catolica de Chile)

Gobierno Corporativo:

  • Empresas Copec S.A.: In creating its corporate governance structure, policies and framework.
  • Empresas CMPC S.A.: In creating its corporate governance structure, policies and framework, as well as defining certain positions within the organization and its scope.
  • Brotec S.A.: In creating its corporate governance structure, policies and framework, including new board composition and Family Protocol.
  • Subsecretaria de Prevision Social: In creating a corporate governance framework for institutions which manage labor benefits.
  • Viña Concha y Toro S.A.: In creating its corporate governance structure, policies and framework.
  • Transelec: In creating its corporate governance structure, policies and framework.
  • Colbun S.A.: In creating its corporate governance structure, policies and framework.
  • Several listed companies: In processes of board evaluation, corporate governance policies and compliance programs.
  • Board of directors of Agunsa: In determining the sale scheme of an entire line of business to Hamburg Sud jointly with its related company CCNI.
  • SB Group: In creating its corporate governance structure, policies and framework. SB Group does business in Chile and elsewhere in Latin America, as well as in the US.

Financiamiento:

  • Itaú Corpbanca, Banco de Crédito del Perú S.A.S y Banco BICE: Advise the clients, as lenders, for the loan facility granted to three Atlantica Yield´s entities (Transmisora Baquedano S.A., Transmisora Mejillones S.A. and Palmucho S.A.) for the refinancing of two of the borrower´s debt  governed under the laws of New York. In addition, advise for new investments necessary for the proper functioning of the acquired electric transmission line located at Vicuña, Chile.
  • Banco BICE: Advise the client in the opening of the credit line for the issuance of the performance guarantees required by Sacyr Chile S.A. to guarantee the obligations derived from the construction contract with Sociedad Concesionaria Américo Vespucio Oriente S.A.; Assist Banco BICE in the drafting and execution of a Loan Agreement with BTG Pactual and Banco Internacional, in which the parties agreed on a collection and/or restitution mechanism pari passu for the issued Performance Obligations
  • Colegios Federico Froebel S.A., Colegios Federico Froebel S.A.: Counsel to the client as borrower for a loan facility granted by Banco Security for new infrastructure investments of the Las Condes and Chicureo educational establishments of the Deutsche Schule and for the pre-payment and termination of a precedent real estate leasing with Banco de Chile.

Employment History

  • Partner, as of 2006 to the present
  • Other major chilean firms, 1993-2001 / 2003-2006
  • Davis Polk & Wardwell, Nueva York, 2002 – 2003

Admissions

Chile (1995)

Recognitions

  • Chambers & Partners (Corporate and M&A)
  • The Legal 500 (Corporate and M&A, Banking and Finance)
  • Best Lawyers (Corporate and M&A – 2019, Corporate Governance and Compliance Practice – 2019, Venture Capital – 2019)
  • IFLR 1000 (Corporate and M&A, Capital Markets y Private Equity)
  • Latin Lawyer 250 (Corporate and M&A, Anticorruption Investigation and Compliance, Banking and Finance y Corporate Governance)
  • Latin Lawyer National (Corporate and M&A, Anticorruption investigations and compliance, Corporate Governance, Banking and Finance)
  • LACCA Approved (Capital Markets)
  • Leaders League (Private Equity – Startups & Innovation, Banking and Finance, Corporate and M&A)
  • Who is Who Legal (M&A and Governance)
  • Leading Lawyers Chile, as the top lawyer in technology and enterpreneurship and number 3 in Board Advisory work.
  • The Jaime Eyzaguirre Award for Educational Excellence, Pontificia Universidad Católica de Chile (2013).

Languages

Spanish and English

Education

  • Law, Pontificia Universidad Católica de Chile (1994)
  • LL.M, The University of Michigan (Ann Arbor) 2002
  • Visiting Scholar Stanford University (2016-2017)

Academic Activity

  • Professor of Commercial Law, School of Law, Pontificia Universidad Católica de Chile (1997- present), Also, imparting the postgraduate courses of “Mergers and Acquisitions” and “Corporate Governance”
  • Director of the Department of Commercial, Economic and Tax Law, School of Law, Pontificia Universidad Católica de Chile
  • Executive Chaiman of the Corporate Governance Center UC of the Pontificia Universidad Católica de Chile
  • Visiting Scholar at the Law School of Standford University (2016-2017)

Membership

  • Chilean Bar Association
  • International Bar Association (“IBA”)
  • Member of the Latin American Roundtable in Corporate Governance, OECD
  • Member of the Task Force for Related Party Transactions, OECD
  • Member of the Chilean American Chamber of Commerce (Amcham) Finance and Capital Markets Committee

Civic and Charitable

Director in Fundación Carlos Vial Espantoso

Publications

  • “Notas sobre la evolución del derecho societario en Chile” (co-author with Roberto Guerrero), Ed. Marcial Pons, 2019
  • “Análisis del Primer Intento de Imponer Autorregulación sobre Gobierno Corporativo en Chile: Resultado de un oxímoron”. Co-author with Eduardo Walker and Maria Paz Godoy, to be published in Revista Chilena de Derecho
  • “Grupos Empresariales e Información: ¿Es un Privilegio de los Directores del Controlador?”, Business Law Studies, Thomson Reuter, 2018
  • “Existe un Deber de Cuidado Particular Para Los Directores Independientes”, Business Law Studies, UC Editions, 2017
  • “Principio de Confianza en la Información presentada por la Sociedad a la Luz del Deber de Cuidado de los Directores”, Business Law Studies, Thomson Reuters, 2014
  • “Manual sobre Derecho de Sociedades”, Ediciones UC, First Edition, 2014. Co-authored with Roberto Guerrero V.
  • “Gobierno Corporativo en Latinoamérica: Un análisis comparativo entre Brasil, Chile, Colombia y México.” Research sponsored by the Instituto de Empresa, Madrid, Spain, December 2013. Co-authored with Josefina Consiglio
  • “Interés social, Deber de Lealtad de los Directores y Conflictos de Interés en Empresas Multinacionales: Un análisis comparado con la Legislación de los Estados Unidos de América”, Chilean Law Gazette, Vol.31 N°2, 2004. Co-authored
  • Getting the Deal Through, Corporate Governance, 2017 – 2018 – 2019
  • Getting the Deal Through, Securities Finance, 2011 – 2012 – 2013 – 2014 – 2015 – 2017

News

El Mercurio – Oct 25, 2019

Matías Zegers Ruiz-Tagle, executive president of the UC Center for Corporate Governance, said that the measure that some companies have adopted in the area of salaries ‘obviously is a decision that not only benefits the workers of specific societies, but the entire community.

El Mercurio – Oct 14, 2019

DLA Piper Chile advised Cornershop and Uber on the acquisition of a majority percentage of Cornershop by Uber.

Diario Financiero – Oct 14, 2019

DLA Piper Chile advised Cornershop and Uber on the acquisition of a majority percentage of Cornershop by Uber.

El Mercurio –  Oct 12, 2019

DLA Piper Chile advised Cornershop and Uber on the acquisition of a majority percentage of Cornershop by Uber.

Pulso – Oct 12, 2019

DLA Piper Chile advised Cornershop and Uber on the acquisition of a majority percentage of Cornershop by Uber.

Diario Financiero – September 24, 2019

Matías Zegers was highlighted in the category Startups & Venture Capital.

Lex Latin – September 10, 2019

DLA Piper Chile advised CarbonFree Technology Inc.

Last June, Cornershop announced its landing in Peru. Since then, the dedicated home delivery platform team founded by Daniel Undurraga, Oskar Hjertonsson and Juan Pablo Cuevas, has been recruiting team in Lima.

Capital Magazine – August 30, 2019

Last June, Cornershop announced its landing in Peru. Since then, the dedicated home delivery platform team founded by Daniel Undurraga, Oskar Hjertonsson and Juan Pablo Cuevas, has been recruiting team in Lima.

Estrategia Online – August 21, 2019

In view of the resignation, in the aforementioned session it was unanimously agreed to appoint Matías Zegers Ruiz-Tagle, as replacement director of the company, who accepted the appointment to the position.

Global Chronicle – August 2, 2019

DLA Piper Chile advised Selina Operations Chile SpA with Matías Zegers and María Teresa Fernández.

Lex Latin – August 1, 2019

Selina Operations Chile SpA was represented by Lathan and Watkins (NY) and DLA Piper Chile. The lawyers of our office participating in this transaction were Matías Zegers and M. Teresa Fernández.

Diario Financiero – July 29, 2019

Our partner Matías Zegers, an expert in venture capital, highlights in an interview made by Diario Financiero the degree of maturity of the local entrepreneurial ecosystem, but warns about regulatory obstacles that could leave the country behind.

El Mercurio – July 21, 2019

Interview with Matías Zegers, President Center of Corporate Government UC.

Latin Lawyer – July 19, 2019

The lenders relied on DLA Piper Chile for the deal, which closed on 27 June.

Diario Financiero – June 24, 2019

The Center for Corporate Governance of the Pontificia Universidad Católica de Chile (CGC-UC) and the audit and consulting firm Mazars will organize the cycle of conversations ‘Directors’ Committee: Concerns, Practices and Challenges’.

El Mercurio – April 29, 2019

Matías Zegers talks about regulation in corporate governance after the SVS published the so-called NCG 341 on corporate governance standards.

El Mercurio – March 1, 2019

Matías Zegers comments on Enel Americas’ US$3.5 billion capital increase.

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  • Venture Capital & Fund Formation
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