Machado Meyer Sendacz e Opice has represented Brazilian brokerage firm Intra S.A. Corretora de Câmbio e Valores on its takeover by Citigroup.
Citi Will pay R$129 million ($80.1 million) for the opportunity to expand its retail brokerage capabilities in Brazil. This is the first time that a foreign financial institutions has taken over a Brazilian brokerage firm.
Flavio Roberto Penteado Meyer led the Machado team advising Intra on Brazilian law.
Shearman & Sterling acted for Citigroup on international law, whit Pinheiro Guimarães representing Citi on local law.
(IFLR Legal Wire - - 25.06.2008)