Market: Brazil

Three firms steer first major open banking buy in Brazil

Brazilian firm Bichara Advogados has helped local fintech PicPay acquire finance app Guiabolso in one of the first major open banking transactions in Brazil, as the country prepares to enter the second phase of introducing the new regulation.

30 July 2021

UTC to divest energy assets in third restructuring amendment

Brazilian firm Leite, Tosto e Barros Advogados has helped local engineering group UTC amend its 3.7 billion restructuring (US$723 million) deal for the third time, following months of shareholder negotiations.

30 July 2021

KPS Capital buys controlling stake in Tate & Lyle’s LatAm business

US investor KPS Capital Partners has turned to Paul, Weiss, Rifkind, Wharton & Garrison LLP in New York and Washington, DC, Macfarlanes LLP in London and Brazilian firm Mattos Filho, Veiga Filho, Marrey Jr e Quiroga Advogados to acquire a controlling stake in global food supplier Tate & Lyle’s North American and Latin American operations for US$1.7 billion.

29 July 2021

Muriel Advogados hires KLA lawyer as partner following split

Brazil’s Muriel Advogados, which recently rebranded as a disputes boutique following the departure of several former name partners, has hired a lawyer from Latin Lawyer 250 firm KLA Advogados as partner.

29 July 2021

Bronstein Zilberberg and Mattos Filho steer fintech funding round

Brazilian fintech company Blu Pagamentos has hired Bronstein Zilberberg Chueiri & Potenza Advogados to raise 300 million reais (US$58 million) in a funding round led by US investment company Warburg Pincus.

29 July 2021

Brazil's Méliuz makes follow-on offering

Paul Hastings LLP in New York and São Paulo and Brazil's Cescon, Barrieu, Flesch & Barreto Advogados have helped local fintech Méliuz raise 1.2 billion reais (US$227 million) in a follow-on offering.

28 July 2021

Brazilian distributor wins billion-dollar dispute with Hyundai

An International Chamber of Commerce (ICC) tribunal in Frankfurt has ruled in a billion-dollar dispute over a distributor’s right to import Hyundai cars to Brazil, blocking the Korean company from terminating their contract and ruling it should run for another decade.

28 July 2021

Partners leave Brazilian firms Muriel Medici and Santos Neto for new ventures

Several partners have parted ways with Brazilian firms Muriel Medici Franco Advogados and Santos Neto Advogados, branching off to form separate ventures.

28 July 2021

Lobo de Rizzo and Mattos Filho in fast food merger

BK Brasil, the master franchise of fast food chains Burger King and Popeyes in Brazil, has hired Lobo de Rizzo Advogados to buy the local operations of Domino’s Pizza for 601 million reais (US$115 million).

28 July 2021

Brazil’s VTEX hits above target in IPO

Brazilian software company VTEX has enlisted Simpson Thacher & Bartlett LLP in New York and São Paulo and Lefosse Advogados in São Paulo to raise US$361 million in an initial public offering on the New York stock exchange.

27 July 2021

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