Veirano Advogados and Machado Meyer advised on the deal

ENGIE Brasil Energia executed an agreement for the purchase of 100% of the stock of Sterlite Novo Estado Energia S.A., the holder of a concession for the construction, operation and maintenance of 1,800 kilometers of transmission lines in the states of Pará and Tocantins. The BRL 410 million deal also includes construction of a new substation and upgrades to three existing substations in the two states.

This will be ENGIE’s second transmission project in Brazil. In December 2017, the Company won Lot 1 of the Auction mentioned earlier, for the construction of one thousand kilometers of transmission lines, five new substations and the expansion of another five in the state of Paraná. At over BRL 2 billion in investments, construction of the “Gralha Azul” project is already underway and is expected to generate up to 5 thousand direct jobs at peak employment.

Veirano advised ENGIE with a team including Alberto de Orleans e Bragança (Picture), Tiago Figueiró, Paula Surerus, Vitor Rozenthal, Fernão Moura de Castro, Thaís Limani, and Amanda Moreira Kraft.

Machado Meyer advised the seller (Sterlite Brazil Participações S.A.) with a team including José Prado and Paulo T. C. Machado.

Involved fees earner: Paulo Machado – Machado Meyer Advogados; José Prado Jr. – Machado Meyer Advogados; Alberto de Orleans e Bragança – Veirano Advogados; Tiago Figueiró – Veirano Advogados; Thaís Limani – Veirano Advogados; Amanda Moreira Kraft – Veirano Advogados; Fernão Henrique Moura de Castro – Veirano Advogados; Vitor Rozenthal – Veirano Advogados; Paula Surerus – Veirano Advogados;

(Global Legal Chronicle - 09/03/2020)