M&A report Brazil: January-February 2019

Eighteen international law firms and 39 Brazilian outfits have helped steer 56 M&A deals that were announced, signed or closed in January and February, according to Latin Lawyer’s latest research.

Mattos Filho, Veiga Filho, Marrey Jr e Quiroga Advogados was the busiest among local firms, landing a place on nine deals. BMA - Barbosa, Müssnich, Aragão followed with eight, while Pinheiro Neto Advogados worked on seven. A group of firms - Cescon, Barrieu, Flesch & Barreto Advogados; Dias Carneiro Advogados; Lefosse Advogados; Machado Meyer Advogados and Veirano Advogados – signed off five deals each. 

When counting only the transactions with a public deal value, Mattos Filho’s deals also had the highest combined value, worth US$22.3 billion. It was followed by Cescon Barrieu, which had a combined deal value of US$14.1 billion. TozziniFreire Advogados also performed well, amassing deals worth US$14 billion in total.

Among the international law firms, Jones Day landed a place on three deals, while Simpson Thacher & Bartlett LLP advised on two. These were the only international law firms to work on more than one transaction in the two-month period.

Several big-ticket deals took place in Brazil during the two-month period. Jones Day and Mattos Filho helped US transport manufacturer Wabtec in its US$11.1 billion global merger with General Electric’s transport business. Davis Polk & Wardwell LLP and Demarest Advogados advised General Electric.

Another massive deal was the US$9.8 billion merger in Brazil’s pulp industry between Suzano and Fibria. Suzano enlisted Cleary Gottlieb Steen & Hamilton LLP and Cescon Barrieu, while Fibria worked with Mattos Filho. White & Case LLP and TozziniFreire also landed a place on that deal, advising local industrial group Votorantim as one of the selling shareholders.

In the aviation sector, several law firms helped seal the joint-venture agreement between US aircraft maker Boeing and Brazilian counterpart Embraer. The deal, which gave Boeing an 80% stake in Embraer, was worth US$5.2 billion. Simpson Thacher and Pinheiro Neto advised Boeing, while Skadden, Arps, Slate, Meagher & Flom LLP and BMA worked with Embraer. 

Across industries, the transport industry saw the most deals in the two-month period. There were seven acquisitions in total. The banking and finance sector was also active with six transactions, while IT and real estate followed on five.

Our report is based on deals of any value submitted to Latin Lawyer that were announced, signed or closed in January or February 2019. Firms linked to reported deals were invited to submit other transactions that occurred during these months. We have included all counsel to the best of our knowledge. If you think your firm’s deal has been missed, you can submit it here for consideration.

  • Industry:
  • Agribusiness and Tobacco, Aviation, Banking and Financial Services, Electricity Production and Supply, Food and Beverages, Consumer Goods and Office Supplies, Manufacturing, Media, TV and Entertainment, Mining and Metals, Oil & Gas, Telecoms, Transportation, Pharmaceutical, Real Estate, Retail

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