Brazilian iron ore miner Vale has agreed to pay US$1.4 billion to increase its stake in a Rio de Janeiro-based unit of German steelmaker ThyssenKrupp.
 
Machado, Meyer, Sendacz e Opice Advogados is advising Vale in the deal, while Xavier, Bernardes, Bragança, Sociedade de Advogados represents the seller.
 
The deal, announced on 21 September, will see Vale increase its stake in Companhia Siderúrgica do Atlântico (CSA) from 10 to almost 27 per cent.
 
CSA is currently building a steel plate plant with a production capacity of 5 million metric tons per year, expected to begin operating in the second half of 2010. Vale is under contract as CSA's exclusive iron ore supplier in the country.
 
Vale announced last month it would invest US$59 billion in projects in Brazil and abroad. The final stage of its US$1.6 billion takeover of Latin American assets from Anglo-Australian rival Rio Tinto also closed last week.
 
Counsel to Vale
 
 
• Machado, Meyer, Sendacz e Opice Advogados
 
Partner Giovanni Biscardi and associates Mariana Castello and Mariana Meditsch
 
Counsel to ThyssenKrupp
 
 
• Xavier, Bernardes, Bragança, Sociedade de Advogados
 
Partner Horacio Bernardes Neto and associates Lidia Spitz, Julio Barreto and William Pedroso (Latin Lawyer 28.09.2009)
 
(Latin Lawyer 28.09.2009)
 
(Notícia na Íntegra)