Liliana Espinosa

Liliana Espinosa

Estudio Echecopar


Solid background in M&A, Private Equity and Corporate law. Liliana Espinosa is a best-in-class lawyer who has led many domestic and cross border acquisition transactions and sale of companies and assets including private and public M&A and PE deals, mergers, spin-offs, and other sophisticated structures, in different industries such as energy, infrastructure, financial institutions, telecommunications, retail, education, agribusiness, fishery, pharma, among others. She worked at O'Melveny & Myers, achieving wide experience and been exposed to sophisticated transactions in multiple jurisdictions. Liliana is the head of Corporate/M&A in the Lima office and serves as member of the Latin America M&A/PE Steering Committee of the Firm.

About Liliana, Chambers & Partners states that she is highly regarded by clients and praise her: "She was absolutely fantastic on the deal," while underlining her "professionalism, availability, swiftness and accuracy of advice." Other sources portray her as "brilliant in her specialism, with an incredible capacity for work." They additionally appreciate her personal involvement in matters, as well as her responsiveness. Liliana is recognized for her people skills and is highlighted as being talented, intelligent and a pleasure to work with. About her work, Latin Lawyer (LL250) has stated that she is "known for her determination, intelligence and hard work". A client highlights "her great M&A experience, which has helped the client’s company anticipate potential issues and solve them with well-considered proposals". A private equity client said that, "it's a privilege to have her represent you in M&A deals", adding that her positive attitude helped his company get positive results from a complicated negotiation.

Liliana is undoubtedly the highest ranked female M&A lawyer in Peru in all reputable legal rankings.

Practice Focus

Mergers & Acquisitions, Private Equity and complex transactions. Having extensive experience representing buyers and sellers in sophisticated domestic and cross-border transactions.

Representative Legal Matters

  • Advised Interconexion Electrica ISA Peru in its USD 151 million acquisition of Orazul Energy Group from Inkia Energy. Orazul Energy Group controls Etenorte and Eteselva, which operate six transmission lines spanning 746km in Peru.
  • Advised Nielsen Holdings plc in the sale of its retailer data business, Global Connect, for USD 2.7 billion to Advent, one of the world's largest private equity investors.
  • Advised LVMH in its acquisition of Belmond, owner or manager of luxury hotels, restaurants and train and river-cruise properties, including Venice’s landmark Cipriani and the only hotel within the Machu Picchu citadel in southern Peru.
  • Advised the buyer on the acquisition by Grupo Security, through its subsidiary Vida Security, of 61% of the insurance company Protecta.
  • Advised Celistics Epayment S.L., an intelligent logistics company, on its acquisition, through a Peruvian subsidiary, of a 60% equity stake in Red Digital del Peru, a Peruvian company that owns a platform that integrates digital products.
  • Advised The Nielsen Company (US), LLC, a subsidiary of Nielsen Holdings (NYSE: NLSN), in its acquisition of CCR’s retail measurement services business in Peru, Chile and Bolivia, through its local subsidiaries. CCR is a company with more than 50 years of experience in the market research industry.
  • Advised Banco Santander S.A. in the acquisition of 100% of a co-owned venture it had with SK Bergé (for the development of the vehicle finance space) from its former co-shareholders and the structuring of a new joint-venture with such entities.
  • Advised to Accenture Inc. in its global acquisition of Innovation Consulting Worldwide, S.L. (Insitum) and its subsidiaries.
  • Advised Mitsui & Co (USA) Inc. and their subsidiaries Anagra S.A. (Chile) and Mitsui Agribusiness in its investment in Equilibra Peru S.A., a Peruvian company in the business of importing, mixing, distributing and commercializing fertilizers and additives for agriculture. AnMit subscribed shares representing 51% of the issued capital stock of Equilibra. The remaining 49% of the company is held by Inversiones Piuranas S.A., a company of Grupo Romero, one of the biggest economic groups in Peru.
  • Advised Kandeo Fund II (Perú) Servicios Financieros and Kandeo Spain Latam S.L.U. in its investment in Corporación San Ignacio de Loyola, owner of Universidad San Ignacio de Loyola in Lima, USILSA in Paraguay and San Ignacio University in Florida (USA).

Professional Honors

  • Band 2 - Corporate/M&A, Chambers and Partners Latin America, 2021
  • Leading Individual - Corporate and M&A, The Legal 500, 2021


  • New York~United States (2001)
  • Peru (1997)


  • New York University (LL.M. in Corporate Law) (2000)
  • University of Lima (Law Degree) (1996)


  • English
  • Spanish

Firm Committee Memberships

Liliana serves as member of Latin America M&A/PE Steering Committee, Nominating Committee and Global Risk Committee.