Machado, Meyer, Sendacz e Opice Advogados has helped Japanese paper manufacturer Oji Paper buy the Piracicaba speciality paper mill from Brazilian pulp supplier Fibria Celulose.

The quota purchase and sale agreement for the US$313 million deal was agreed on 22 September. The transaction is scheduled to close on 29 September and saw Demarest e Almeida Advogados advise the seller.

Oji and Fibria have maintained a business relationship since 1989. In 2007 they collaborated on a strategic and business agreement, making Fibria Oji′s strategic partner in the Latin American imaging media paper sector.

Demarest e Almeida partner Paulo Frank Coelho da Rocha says that the close business relationship between the two companies was one of the deal′s more unusual features.

′Because Fibria and Oji have enjoyed a long standing business relationship since 1989, Fibria agreed to provide certain support services to Piracicaba for a limited time after the conclusion of the deal,′ he says.

Fibria also has a long standing relationship with Demarest e Almeida as the firm has advised the Brazilian pulp company in several other M&A deals. Demarest e Almeida advised Fibria earlier this year in the sale of a 50 per cent stake in pulp and paper consortium Conpacel to rival Brazilian company Suzano Papel e Celulose.

Counsel to Oji Paper

Machado, Meyer, Sendacz e Opice Advogados

Partners José Samurai Saiani, Cristiana Rebelo and Cassiano Freitas Neto and associate Daniel Andrade Jacintho

Counsel to Fibria Celulose

Demarest e Almeida Advogados

Partners Paulo Frank Coelho da Rocha, José Diaz and Luciana Cossermelli Tornovsky and associate Debora Sejtman

(Latin Lawyer 26.09.2011)

(Notícia na Íntegra)