It’s not just the U.S. where big firm mergers are all the rage.

Spanish legal giant Uria Menendez, an alliance partner of Magic Circle firm Slaughter and May, has agreed to take a 30 percent stake in Latin America’s first major cross-border law firm merger between Chile’s Philippi Yrarrazaval Pulido & Brunner and Colombia’s Prietocarrizosa. The trio will form Philippi, Prietocarrizosa & Uria, a 220-lawyer firm with offices in Colombia and Chile, according to a report on the deal this week by the Financial Times.