In February 2011, Davis Polk & Wardwell announced it will establish a new office in São Paulo, subject to approval by the Brazilian authorities. At the time, the firm indicated that partners Manuel Garciadiaz and Maurice Blanco will lead the office once it opens....
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In February 2011, Davis Polk & Wardwell announced it will establish a new office in São Paulo, subject to approval by the Brazilian authorities. At the time, the firm indicated that partners Manuel Garciadiaz and Maurice Blanco will lead the office once it opens. Garciadiaz has worked on over 150 capital markets deals in Latin America, including some of the largest and most complex in Brazil.
The firm has also lured two banking and finance partners from Mayer Brown to help launch the new venture, which is likely to be staffed by eight to ten lawyers. James Vickers will join as the firm as counsel, and Stephen Hood, the head of Mayer Brown's São Paulo base, will come on board as a partner.
The firm's offices around the world regularly advise on transactions in Brazil. These include representing the initial purchasers in a $4.9 billion follow-on offering of common shares by Banco do Brasil, the largest bank in Latin America by total assets. The offering was completed in July 2010 under Rule144A/Reg S, and was the first Brazilian deal to do a parallel rights offering. The firm advised Banco do Brasil Securities, Merrill Lynch, Pierce, Fenner & Smith, BTG Pactual US Capital, Citigroup Global Markets and JPMorgan Securities.
Davis Polk is also advising Cosan Indústria e Comércio, the largest grower and processor of sugarcane in the world and the largest ethanol producer in Brazil, on a $12 billion joint venture in Brazil with Shell. The project will produce ethanol, sugar and power, and supply and distribute fuel. The deal was announced in February 2010.
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