Mac Excel won't recognize Spanish/Portuguese accents (UTF8 or ANSI)
After several bumps in the wall I figure out this Terminal command (Shell Script) that will convert properly the files from UTF-8 for Latin 1:

iconv -f UTF-8 -t LATIN1 &lt;/path/sourceFile.txt &gt;/path/destinationFile.txt

Oddly enough, the Finder preview won't display the correct characters and TextEdit won't even open the file. But Excel recognize everything, which is fine for me.