Barbosa Mussnich & Aragao has steered Braskem′′s acquisition of a stake in Quattor from rival Unipar, creating one of the world′′s 10 largest petrochemical companies.
The merged company, temporarily known as Nova Braskem, will be controlled by Braskem′′s shareholders Odebrecht and Petrobras, the latter of which already had a stake in Quattor. The new company is expected to have an annual revenue of 30,4 billion reais (US$16 billion).
TozziniFreire Advogados represented Unipar in the transaction, while Machado, Meyer, Sendacz e Opice Advogados advised Petrobras.
Braskem paid R$870 million (US$ 477.5 million) for a stake in what is Brazil′′s second largest petrochemical company on 22 January, ending a legal fight brought by one of Unipar′′s controllers, a Geyer family member, who sought to prevent the merger.
"The deal was very challenging as the consolidation of the assets involved not only a sophisticated legal structure but also extensive negotiation among Petrobras, Odebrecht and Unipar," says Machado, Meyer partner Arthur Penteado.
Odebrecht will maintain a 51 per cent controlling stake in the company, with the remaining 49 per cent owned by Petrobras.
The share division is expected to meet the requirements of antitrust regulators, however, some believe the deal could trigger the de facto nationalisation of Brazil′′s petrochemical sector.
Barbosa, Müssnich has advised Braskem on a number of transactions since the company′′s formation in 2002, including the acquisition of Ipiranga by Braskem, Ultrapar and Petrobras three years ago.
Counsel to Unipar
·          In-house counsel - Walter Guimarães
·          TozziniFreire Advogados
Partner Darcy Teixeira Junior and associates Luiz Renato Okumura and Fernando Augusto Silva Rodrigues
Counsel to Odebrecht and Braskem
·          In-house counsel to Odebrecht - General counsel Newton de Souza
·          In-house counsel to Braskem - General counsel Maurício Ferro and Gustavo Sampaio Valverde and lawyer Marcella Menezes Fagundes
·          Barbosa Mussnich & Aragao
Partner Luis Antônio Campos and associates Rafael Padilha Calábria and Felipe Guimarães Rosa Bom
Counsel to Petrobras
·          Machado, Meyer, Sendacz e Opice Advogados
Partners Carlos José Rolim de Mello, Arthur Penteado, Celso de Paula F da Costa and Tito Amaral de Andrade and associates Cristina Salles, Leticia de Faria Lima, Gustavo Noman, Fabio Wagner and Fernando Monteiro
(Latin Lawyer 27.01.2010)
(Notícia na Íntegra)