Brazilian meat company Marfrig's US$680 million acquisition of the OSI group's operations in Brazil and Europe closed yesterday.
Marfrig took legal advice from Mattos Filho, Veiga Filho, Marrey Jr e Quiroga Advogados in Brazil and Shearman & Sterling LLP in New York, with OSI advised by Machado, Meyer, Sendacz e Opice Advogados in Brazil and Herbert Smith LLP in the UK.
Machado, Meyer partner, José Samurai Saiani, says, "The transaction demanded a coordinated effort between the Brazilian and foreign firms to manage the acquisition of several companies located in six different jurisdictions. The transaction reflects the growing trend of Brazilian companies expanding into foreign markets."
The deal was announced in June, and received competition from the EU on 14 October, as reported by LATINLAWYER, here.
The OSI Group businesses in Brazil transferred to Marfrig are Braslo Produtos de Carnes, Penasul Alimentos and Agrofrango Industria e Comercio de Alimentos.
With the acquisition, Marfrig becomes the largest meat and poultry supplier to McDonald's restaurants in Brazil and Europe.
Counsel to Marfrig Frigorificos & Comercio de Alimentos
In-house counsel - Heraldo Geres
Mattos Filho, Veiga Filho, Marrey Jr e Quiroga Advogados
Partner Carlos Barbosa Mello
Shearman & Sterling LLP
Partners Alberto Luzárraga, Andrew Janszky and Lois Moore and associate George Milton
Counsel to OSI Group
Machado, Meyer, Sendacz e Opice Advogados
Partner José Samurai Saiani and associate Cristiana Rebelo
Herbert Smith LLP
Partners Stephen Wilkinson, Craig Pouncey and Alex Kay and associates John Cook, Stephen Pardy and Jenny Coombes
(Latin Lawyer 04.11.2008)