Machado, Meyer, Sendacz e Opice Advogados and Shearman & Sterling LLP, working out of its office in São Paulo, have acted for highway concession company Companhia de Concessões Rodoviárias (CCR) as it raised US$745 million in a share offering.
Pinheiro Neto Advogados and Simpson Thacher & Bartlett LLP, also operating from São Paulo, represented underwriters Banco Itaú, BTG Pactual and Merrill Lynch, in the deal which closed on 20 November.
Shearman & Sterling partner Andrew Jánszky says, “The deal is another key step for CCR as one the most important players in the Brazilian infrastructure sector, which, because of the World Cup in 2014, the Rio Olympics in 2016, and the robust growth of the country's economy, will be an extremely critical growth area of the economy.”
Foreign investors bought 69 per cent of the shares that CCR offered on the Brazilian stock exchange.
The company says it will use the proceeds of the share sale to fund the acquisition of new and existing concessions and to bolster its working capital.
Among CCR’s most high profile concessions are its contract for the construction of the western part of the São Paulo ring road, which it secured in 2008, and the concession for Line 4 of the city’s subway system, which it won in 2006.
Last month it closed the US$940 million financing agreement for the project, a deal in which it retained Mayer Brown LLP and TozziniFreire Advogados.
Machado Meyer was also involved in that deal, acting as Brazilian counsel to the group of development banks that provided the financing.
Counsel to the banks
US
· Simpson Thacher & Bartlett LLP
Partner Todd Crider and associates Gustavo Benchimol and William Langer
Brazil
· Pinheiro Neto Advogados
Partner Daniela P Anversa Sampaio Doria and associates Luiz Rafael de Vargas Maluf, Elio Nakano, and Camila Misciasci Derisi
Counsel to CCR
· In-house counsel - Tatiana Sperandéo Dall' Acgua and Allan Borba Bercht
US
· Shearman & Sterling LLP
Partner Andrew Jánszky and associates Tobias Stirnberg and Tatiana Rocha Tafarello
Brazil
· Machado, Meyer, Sendacz e Opice Advogados
Partner Carlos Motta and associates Felipe Gruber Ribeiro, Alessandra Fló Vilardi and Igor Finzi
DT
(Latin Lawyer 16.12.2009)
(Notícia na íntegra)
