Focus on the company

Previously known as Madeco, Invexans was established in Chile in 1944 and today is the largest shareholder of the French company Nexans, a world leader in the cables industry. Pedro Parga started his in-house career for the Luksic Group at Madeco in 2006 before being appointed as general counsel of Invexans in 2014 and hired by its parent company Quiñenco. ‘I continue working with both roles and some other minor positions’, he explains. Parga has excelled in his performance at Invexans by being recently involved in a key international transaction and litigation for the company, with highly favourable outcomes.

Parga contributes to M&A transactions, corporate reorganisation and tender offer processes in Chile for the parent company Quiñenco. He highlights how a particularly important project at Invexans gave him the opportunity to develop his skills: ‘I was part of the sale of the cable unit of the company to Nexans in 2008, valued initially at around $800m. Since this sale, I have been in charge of the contingencies of the Brazilian subsidiary that were carved out from the sale and the administration of that contract with Nexans, including an arbitration procedure before New York’s ICC and a mediation process in Brazil. From that sale, I was also inserted in cross-border transactions.

From 2019, he also assists the London-based team of Invexans. This subsidiary holds the investment in Nexans and Enex, a petrol gas distributor with operations in Chile, USA and Paraguay. In another key transaction, Parga was responsible for the legal team on the divestiture and closure process of Madeco’s industrial subsidiaries, namely the sale of Armat and the closure of operations and disposal of assets of Madeco Mills and Indalum. ‘These reorganisation activities gave me a wider knowledge of the Chilean industrial legal environment apart from the day-to-day work’, Parga adds.