Koury Lopes Advogados has helped WPP close two deals in Brazil that increase the presence of world′s largest global media group in the country′s advertising market.
The first deal, which closed on 31 May for an undisclosed amount, saw Koury Lopes advise a subsidiary of the advertising agency, WPP Comunicação Digital do Brasil, in its acquisition of a 70 per cent equity interest in digital advertising, marketing and consultancy company FBZ Group (FBiz).
FBiz turned to Baptista Luz, Gimenez & Freitas - which has been regular counsel to the company and its shareholders since 2008.
Miriam Machado, partner at Koury Lopes, says the acquisition follows a trend in the advertising sector that seen digital advertising become a "top target" for investment in Brazil, which has seen companies to adopt increasingly "formal and professional practices."
Baptista Luz name partner Luis Felipe Baptista Luz says the deal - which closed in exactly two months - had a "very expeditious closing" that was only made possible by the "reasonable and capable" approach of the respective counsel.
The second deal, which closed a day later also for an undisclosed amount, saw Koury Lopes advise WPP Comunicação Interative do Brasil in its acquisition of a 70 per cent equity interest in Gringo Publicidade, an IT company specialising in the research and development of technologies related to online advertising.
Machado, Meyer, Sendacz e Opice Advogados advised on due diligence conducted by WPP on Gringo and helped negotiate the full package of documents and corporate restructure.
Daniella Tavares, a partner at Machado Meyer, says closing the deal was "tricky" as the owners of Gringo were negotiating their livelihood with a huge multinational firm "trying to impose their standards and previous experiences from acquisitions around the world."
But she adds it was a great opportunity for Gringo to be part of a "well known and very respected agency."
Koury Lopes partner Juliana Elorza says WPP was drawn to the "good clients and first rate team" at Gringo, adding that "very personal and open negotiations" made it possible to "bridge cultural gaps and overcome business deadlocks" during the deal.
Koury Lopes regularly advises WPP in Brazil. In 2009 the firm helped the advertising agency′s subsidiary, OgilvyInteractive, close a JV with 10 Minutos to provide digital communication services in Brazil.
A month earlier, the firm also advised WPP in the sale of its stake in a research company to US-marketing information company Nielsen. The multijurisdictional deal saw the Brazilian firm team up with US firm Davis & Gilbert LLP, Argentina′s Brons & Salas and Aroztegui & Asociados Abogados in Uruguay.
Counsel to WPP Comunicação Digital do Brasil
Koury Lopes Advogados
Partner Miriam Machado and associate Mirella Kaufman
Counsel to the FBZ Group
Baptista Luz, Gimenez & Freitas Advogados
Partner Luis Felipe Baptista Luz and associate Pedro Henrique Ramos
Counsel to WPP Comunicação Interative do Brasil
Koury Lopes Advogados
Partners Miriam Machado and Juliana Elorza, and associate Paula Strakos
Counsel to Gringo Publicidade
Machado, Meyer, Sendacz e Opice Advogados
Partners Carlos Mello and Daniella Tavares, and associates Guilherme Santos, João Matta and Fulvia Grola
(Latin Lawyer 16.06.2011)
(Notícia na Íntegra)