Machado, Meyer, Sendacz e Opice Advogados has advised Brookfield Asset Management and Brookfield Renewable Power Fund on a proposed merger between the fund and the power generating assets owned by Brookfield′s wholly-owned subsidiary, Brookfield Renewable Power.

The estimated US$6 billion deal will make Brookfield one of the largest renewable energy providers in the world

The estimated US$6 billion deal announced on 13 September will create Brookfield Renewable Energy Partners, which will be one of the largest renewable energy providers in the world.

Machado Meyer provided Brazilian advice alongside US counsel from Latham & Watkins LLP and Canadian advice from Heenan Blaikie LLP.

Machado Meyer partner Daniella Tavares says that despite the difficulties involved in the cross-border transaction, working with the "very professional" Heenan Blaikie was a "highlight" of the operation. The Canadian firm, which oversaw the work, ensured that everyone was kept up to date by calling every day. Although the team at Machado Meyer "worked around the clock", especially towards the close, Tavares commends Heenan Blaikie for succeeding in holding the three jurisdictions together.

"Their coordination was essential to keep everyone motivated," she says.

The merger forms a part of Brookfield Group′s high quality and growing power portfolio of 4,800 MW across 179 facilities in Canada, the United States and Brazil, which are focused primarily on hydroelectric generation.

Machado Meyer won Brookfield Renewable Power Fund as a client through the firm′s relationship with Heenan Blaikie, which appointed the firm to provide Brazilian advice.

The firm has previously worked on deals involving Brookfield Group. In July Machado Meyer advised Bertin Group on the sale of Brasil Central Energia to Brookfield Group. Last year they advised a syndicate of banks in refinancing the loan which enabled Brookfield Asset Management to take control of Brazilian hydropower group Itiquira Energética in 2008.

Counsel to Brookfield Renewable Power Fund


Machado, Meyer, Sendacz e Opice Advogados

Partners Carlos José Rolim de Mello and Daniella Tavares and associate Caio Ferreira


Latham & Watkins LLP

Partners Edward Sonnenschein, David Kurzweil and Eli Hunt


Heenan Blaikie LLP

Partners Allen Garson and Neil Wiener

Counsel to Brookfield Asset Management


Torys LLP

Partners Karrin Powys-Lybbe, Rima Ramchandani, John Tobin and Andrew Beck

(Latin Lawyer 21.09.2011)

(Notícia na Íntegra)