China's third-largest steelmaker, Wuhan Iron & Steel Group, has agreed to invest US$400 million in Brazil's MMX, the mining arm of Eike Batista's EBX group.
Machado, Meyer, Sendacz e Opice Advogados advised the Chinese group, known as Wisco, in its purchase of newly issued shares representing 21.5 per cent of MMX while the Brazilian miner turned to regular counsel Mattos Filho, Veiga Filho, Marrey Jr e Quiroga Advogados.
"This is the largest investment ever made by a Chinese company in Brazil, and represents an important bridge between the two countries," says Mattos Filho partner Moacir Zilbovicius.
Mattos Filho also helped MMX in its sale of assets worth US$3.5 billion to Anglo American last year. EBX general counsel Claudio Lampert says Mattos Filho is his firm of choice for complex M&A transactions and capital markets work. “They have been handling most of the group's sizeable deals in recent years,” he notes, particularly rating Zilbovicius's skills.
As part of the deal, which was signed on 30 November, Wisco has agreed to buy at least 50 per cent of iron ore produced at MMX-owned mines in Minas Gerais state over the next 20 years. Wisco has also agreed a joint venture to build a steel mill at the Açu port complex in Rio de Janeiro state, controlled by EBX logistics arm LLX.
The deal remains subject to regulatory approval.
Counsel to Wuhan Iron & Steel (Co) Group (Wisco)
              Machado, Meyer, Sendacz e Opice Advogados
Partner Giovanni Biscardi and associate Cristiana Rebelo
Counsel to MMX Mineração e Metálicos and EBX Investimentos
           In-house counsel - Claudio Lampert, Joana Piquet and Joel Renno
           Mattos Filho, Veiga Filho, Marrey Jr e Quiroga Advogados
Partner Moacir Zilbovicius and associates Paula Vieira de Oliveira and Bruno Rieger Salzano
(Latin Lawyer 01.12.2009)
(Notícia na Íntegra)