Vouga Abogados

Paraguay

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Key contacts

Partner: Vouga, Rodolfo

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Key practice areas

Financial and corporate

Project development

Firm overview

With a team of professionals with experience spanning more than three decades, Vouga Abogados is one of the most prominent and experienced law firms in Paraguay.

Vouga Abogados is a full service firm that advises large and small businesses, financial and multilateral credit institutions, NGOs, public entities and individuals, complying with the most stringent ethical standards. Our client base includes a significant number of Fortune 500 companies operating across a broad range of industries.

The Firm has a solid team of legal and accounting professionals, organized in practice groups whose leaders are widely recognized in their fields. Our firm's focus on responsiveness, which is built on strong investments in human resources and technology, enables us to render world-class services in a time-efficient manner. In fact, the team has lead several of the most relevant transactions in the country during the last years.

With offices in Asunción and Ciudad del Este, a regional reach and an international outlook, Vouga Abogados is one of the largest law firms in the country and a main point of call for doing business in Paraguay.

Address:

Juan de Salazar

657 Asunción

Tel:+595 21 202 049 Fax:+595 21 230 101 Email:Contact Us Web Address:https://www.vouga.com.py

Rankings published in 2026

Financial and corporate

Tier 1

11 firms ranked

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Tier 1

Estudio Jurídico Gross Brown

3 practice areas

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Ferrere

3 practice areas

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Vouga Abogados

2 practice areas

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Tier 2

BKM | Berkemeyer

3 practice areas

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Colab

2 practice areas

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Fiorio Cardozo & Alvarado

1 practice area

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Olmedo Abogados

2 practice areas

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Peroni Sosa Tellechea Burt & Narvaja

1 practice area

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Tier 3

Altra Legal

2 practice areas

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Mersán Abogados

1 practice area

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Moreno Ruffinelli & Asociados

1 practice area

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Project development

Active

8 firms ranked

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Active

Altra Legal

2 practice areas

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BKM | Berkemeyer

3 practice areas

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Colab

2 practice areas

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Estudio Jurídico Gross Brown

3 practice areas

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Ferrere

3 practice areas

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Olmedo Abogados

2 practice areas

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Parquet & Associates

2 practice areas

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Vouga Abogados

2 practice areas

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Vouga Abogados

Linked Reviews

Financial and corporate

Vouga Abogados, with over 30 years of experience, is a leading Paraguayan firm specializing in financial, corporate, and project development. The firm operates from offices in Asunción and Ciudad del Este, and maintains foreign desks in Brazil, Germany, Spain, France, and the US. Vouga Abogados excels across all practice areas, representing strategic buyers, sellers, and investors in acquisitions, restructurings, and incorporations. It also represents borrowers and lenders in various financings, including project finance transactions. The project development team supports financial sponsors and developers in oil, gas, and infrastructure projects, often involving acquisitions.

Highlights

In 2024, the firm advised Paracel and its subsidiary Paracel Forestal on financing Paraguay’s largest private investment—the development of a pulp mill on the Paraguay River. Counsel included a loan from Sudameris Bank, a credit facility from Banco Nacional de Fomento, and the extension of a syndicated loan with an innovative structure secured by future carbon credits, marking a pioneering step in sustainable finance. The firm also represented Proparco in structuring a credit facility to Banco Río, supporting gender equality and financial inclusion through programs for women-led projects. Both matters showcase the firm’s expertise in complex, transformative transactions with significant economic and social impact.

Key Clients

Key clients include American Tower Company, Banco Atlas, CAF, Marriott, Oikocredit, Paracel, Proparco, Puma Energy and Teixeira Duarte.

Testimonials

“Excellent teamwork.” (Banking)

“The firm has a wide range of services, responsiveness and subject matter expertise.” (Financial Services regulatory)

“The firm has great professionalism and provides personalized attention.” (M&A)

“The firm provides Precise and technical opinions.” (Project development)

“Belen Rodriguez has great responsiveness.” (Banking client)

“Cecilia Vera provides personalized attention and interest in knowing the business.” (M&A client)

“Carlos Vouga is straight to the point in his legal opinions.” (Project development client)

“Rodolfo Vouga is very smart and business oriented.” (FInancial services regulatory client)

“Rodolfo Vouga has professionalism, flexibility and expertise.” (M&A client)

Deal Highlights

13 results13 results

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Deal Name	Deal Date	Firm Name	Jurisdiction	Deal Type	Lawyer Names	Client Names	Client Role
Banco Continental S.A.E.C.A - Bond Issue	2021-01-01	Vouga Abogados	Paraguay	Bond issue		Banco Santander, JP Morgan Chase	Underwriter
FMO - Financing	2021-02-01	Vouga Abogados	Paraguay	Financing	Carlos Vouga, Cynthia Fatecha	FMO	Lender
Lesaffre - M&A		Vouga Abogados	Paraguay	M&A	Rodrigo Fernandez, Carlos Vouga	Lesaffre	Acquirer
Red Electrica Corporacion SA - M&A		Vouga Abogados	Paraguay	M&A	Rodrigo Fernandez, Rodolfo G Vouga	Red Electrica Corporacion SA	Acquirer
Cadena Farmacenter SA - M&A	2021-08-20	Vouga Abogados	Paraguay	M&A	Rodolfo G Vouga, Rodrigo Fernandez	Cadena Farmacenter SA	Seller
Banco Itaú; Rabobank - Financing	2021-10-01	Vouga Abogados	Paraguay	Financing	Carlos Vouga, Cynthia Fatecha	Banco Itaú, Rabobank	Lender
Paracel SA - Project development		Vouga Abogados	Paraguay	Project development	Rodolfo G Vouga, Perla Alderete	Paracel SA	Project developer
Incofin and Women's World Banking Capital Partners LLP - M&A	2021-09-20	Vouga Abogados	Paraguay	M&A	Cynthia Fatecha, Carlos Vouga	Incofin and Women's World Banking Capital Partners LLP	Seller
Marseg SA - Real estate acquisition	2021-11-20	Vouga Abogados	Paraguay	Real estate acquisition	Carlos Vouga	Marseg SA	Seller
Copetrol SA - Project development	2022-02-24	Vouga Abogados	Paraguay	Project development	Carlos Vouga	Copetrol SA	Sponsor
CPC Corp Taiwan - Project development	2022-02-24	Vouga Abogados	Paraguay	Project development	Rodrigo Fernández, Carlos Vouga	CPC Corp Taiwan	Concession company
AMERICAN TOWERS Corp (ATC) / BLUE TRANSFER SA (ATC PARAGUAYAN SUBSIDIARY) - M&A	2022-02-24	Vouga Abogados	Paraguay	M&A	Rodrigo Fernandez, Rodolfo G Vouga	AMERICAN TOWERS Corp (ATC) / BLUE TRANSFER SA (ATC PARAGUAYAN SUBSIDIARY)	Acquirer
CIC RESOURCES - Project development	2022-02-24	Vouga Abogados	Paraguay	Project development	Rodolfo Vouga	CIC RESOURCES	Concessionaire

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