Brazil

Reviews

Practice area

IFLR1000 Reviews

Overview

Solicitors governing body: Brazilian Bar Association (Ordem dos Advogados do Brasil – OAB)

Competition authority: CADE (Brazil’s Counsel for Economic Defense)

Financial regulator: CVM; Central Bank  

IFLR1000 ranking categories in this jurisdiction: 

Banking, Capital markets, M&A, Private equity, Project development, Project finance

Jurisdiction overview

The Brazilian legal system has its origins in Portuguese law; the country gained independence from Portugal in 1822. 

The country has clear restrictions in place for foreign firms and lawyers. Foreign lawyers are forbidden from practicing Brazilian law. Furthermore, domestic lawyers who work for foreign firms are also not allowed to practice Brazilian law.

Foreign lawyers can work as foreign law consultants but can only advise on international law or law from their own jurisdictions.

As a result of such restrictions, some local firms have formed associations with international outfits. In 2010, Brazil’s national bar association’s São Paulo chapter found that alliances between foreign legal consultants and Brazilian lawyers were unethical, but in October of 2012, the federal OAB decided not to make any changes to the present system.  

Many prominent law firms in Brazil tend to be based in either São Paulo or Rio de Janeiro, though some have offices in cities throughout Brazil. Some firms such as Demarest Advogados and TozziniFreire Advogados also have New York offices. São Paulo is considered more of an economic hub, but Rio’s market is strong for energy and infrastructure transactions. 

Financial and corporate
Araújo & Policastro Advogados

Araújo & Policastro Advogados is an active M&A firm which advised buyers and sellers over the research period. The firm saw notable deals in life sciences and pest control.   

Client feedback 

"They are very excellent." – Corporate 

Camila Araújo 

“Excellent!” 

Baptista Luz Advogados

Baptista Luz Advogados is an active M&A firm which advises buyers and sellers. Deals over the research period include work in pharmaceuticals, healthcare, agribusiness and financial services. 

Recent Deal Data highlights 

•Dechra Pharmaceuticals $48 million acquisition of Laboratorios Vencofarma do Brasil 

•Grupo Pão de Açúcar acquisition of James Delivery 

•UBM acquisition of Live Healthcare Mídia  

Benetti Gentile Ruivo Advogados

Benetti Gentile Ruivo Advogados is active in M&A. The firm primarily advised buyers and joint venture parties this research period but also saw sell-side work. Recent deals took place in a range of sectors including transport, sports and food and beverage. 

Recent Deal Data highlights 

•Cordon Electronics acquisition of Recomércio  

•KT2 acquisition of Rodovia do Aço 

•Stefanini acquisition of Intelligenti 

Bichara Advogados

Bichara Advogados is active in the M&A space. The firm advises buyers and sellers and has seen work this research period in healthcare, food and beverage and agribusiness.  

The firm has also advised energy companies on obtaining environmental licenses for their projects.  

Recent Deal Data highlights 

•Amaggi acquisition of Ciapar

•Barentz International acquisition of 50% of Tovani Benzaquen 

•HIG Capital investment in Grupo Meridional 

Client feedback 

“Highly proactive with preventive attitudes. They are capable of building relations easily. They know what role to play and are present and attentive.” – M&A 

“Top tier law firm. Well connected. Excellent technical work. Good pricing. Amazing negotiation skills. Delivers in short time. I'm very pleased with Bichara Advogados.” – Project development

BMA - Barbosa Müssnich Aragão

BMA has a leading M&A practice and advised buyers, sellers and merger parties on recent deals. The firm’s M&A team has seen some notable work in oil and gas, financial services and telecommunications.

The firm also has experience in public M&A and capital markets in general is another area where the firm is strong in issuer and underwriter work. The firm has experience in debt capital markets – advising on both international and local issues – and the firm has a presence in equity capital markets. 

Recent Deal Data highlights

•                      America Movil $905 million acquisition of Nextel Brazil

•                      Boeing / Embraer joint venture

•                      BR Malls $150.8 million acquisition of 30% in Catuaí Maringá, Catuaí Londrina and Londrina Norte shopping malls

•                      Companhia Siderúrgica Nacional $4.4 billion debt restructuring

•                      Companhia Siderúrgica Nacional $350 million 7.625% bond issue

•                      Concessionária do Aeroporto Internancional de Florianópoli $80.2 million bond issue

•                      Enel acquisition of 93.3% stake in Eletropaulo

•                      BTG Pactual Holding $350 million financing

Client feedback

“The best firm that I have worked with so far.” – Capital markets: structured finance and securitisation

“BMA team always provide insightful and innovative solutions keeping a pro business approach. The team is very professional, reliable and experienced in international transactions.” – Capital markets: structured finance and securitisation

“Superb service. Deep industry knowledge with business acumen all in one.” – M&A, Project development 

Fabiana Fagundes

“One of the top Corporate and M&A lawyers I have ever worked with. Fierce negotiator with deep knowledge and a strategic advisor.”

Camila Goldberg Cavalcanti

“Camila is an extremely knowledgeable lawyer; a reference in Brazil in banking and capital market transactions. She is approachable and friendly and it is always a pleasure to work with her.”

Bocater Camargo Costa & Silva Rodrigues Advogados

Bocater Camargo Costa & Silva Rodrigues Advogados is an active debt capital markets firm. Over the research period the firm has advised issuers and global coordinators on bond issues in the oil and gas and financial services sectors.  

The firm is also active in M&A. Recent deals included advice to buyers and sellers in energy and consumer goods and services.  

Client feedback 

“The firm supplied us with a very good understanding of the problem and showed us the correct answers.” – Investment funds 

“Since I work for a very specific kind of company, a pension fund, it is very important that our lawyers understand the peculiarities and legislation of our industry. And in my opinion, this type of knowledge is the most important asset that the firm brings to the job. In terms of weaknesses, I see none.”  - Investment funds  

 “The law firm is very professional, and has a broad range of services and expertise. Excellent professionals.” – M&A, Financial services regulatory  

“Acted diligently and met all the demands of the process. The firm was particularly efficient in recommending the corporate structure and assessing the risks involved in the transaction.” – M&A  

“Outstanding.” – Private equity  

Cescon Barrieu Flesch & Barreto Advogados

Cescon Barrieu Flesch & Barreto Advogados is strong across the board and a leader on project finance and M&A deals.

The M&A team advised buyers and sellers on high value deals recently. The project finance team saw deals in a range of sectors including telecommunications, renewable energy and oil and gas. Most of the work over the research period involved advising lenders but the firm also advised the borrowers.

The project development team saw some notable work advising BNDES on structuring PPPs in the public lighting sector.

Recent Deal Data highlights

•                      Enel acquisition of 93.3% in Eletropaulo

•                      Gazit Brasil $288 million acquisition of 70% in Internacional Shopping Guarulhos

•                      Ituverava 254MW photovoltaic power plant

•                      Macapá public lighting PPP

•                      Pirapora Solar 150MW solar power plant complex

•                      Rio Oil Finance Trust $600 million 8.2% bond issue

•                      Suzano Pulp & Paper / Fibria merger

•                      Yara International $225 million acquisition of Vale Cubatão Fertilizante

 

Client feedback

“Excellent office with very prepared professionals.” – Banking

“The partners work actively in the deals and are able to provide sound legal advice when an issue arises.” – Capital markets: debt

Carlos Augusto Junqueira

"Excellent knowledge of material."

Daniel Laudisio

“Very proactive, business-oriented and always available to provide sound legal advice.”

 

Coimbra & Chaves Advogados

Coimbra & Chaves Advogados is an active M&A firm that advises buyers and sellers. Recent notable deals took place in the logistics and mining sectors, but details were confidential.  

Client feedback 

“We became very satisfied with the services provided by the firm.  We consider their strengths to be compliance with deadlines, a high technical capacity and their commitment.” – Financial services regulatory  

“We are an internet company. Laws were made for traditional companies, and we often see ourselves lost. Coimbra & Chaves have presented us with a very deep understanding of the law, and the best alternatives for us to follow, in a scenario where the laws are not completely adequate.” – Financial services regulatory  

“One strength is the seriousness with which they treat each subject, always with observation to strict ethical principles and legal opinions that seek to protect our company from incurring in illicit acts due to ignorance of the norms of the law. Another strong point is the experience of its professionals, together with the constant updating - indispensable in matters of law, considering the scope and extent of Brazilian legislation - and the incentive for the specialisation of the younger members. As we are an international company, the domain and fluency of most of the firm’s associates in the English language and knowledge of international standards are also essential for us.”  - M&A 

“The highly qualified team and attention to the details are the most significant strengths to highlight.  We did not notice anything to improve.” – M&A  

“Very high quality services. Strengths include qualification of the team and speed.” – M&A  

“High quality services in our day-to-day corporate law subjects.” – M&A, corporate  

“Professionals are attentive. High level of knowledge.” – M&A  

“The firm was very effective and had high technical skills on the subjects addressed.” – M&A, corporate organisation  

Corrêa Meyer & Nastromagario Advogados

Corrêa Meyer & Nastromagario Advogados is an active corporate and M&A firm. Recent matters include advice to a potential seller on a corporate restructure.  

Client feedback  

“Excellent work and commitment.” – Banking, Investment funds  

“The work from this firm is impeccable. Their response timing, flexibility, and professionalism are great. I would highlight their flexibility as their biggest strength and cannot think of a weakness to mention.” – Project development  

Davis Polk & Wardwell

Davis Polk & Wardwell maintains a presence in Brazil where it advises clients on the international legal aspects of key transactions.    

The research period saw the banking team advise borrowers and lenders and the firm was active in the oil and gas and aviation sectors.  

The M&A team advises buyers, sellers and merger parties and saw recent work in food & beverage, oil and gas and industrials and manufacturing.  

Recent Deal Data highlights 

•Neoenergia B3 IPO 

•Notre Dame Intermédica $691 million share issue 

•PagSeguro NYSE IPO  

•Raízen $950 million acquisition of Shell 

De Luca Derenusson Schuttoff & Azevedo

De Luca Derenusson Schuttoff & Azevedo is an active M&A firm. Over the research period, the firm advised buyers, sellers and merger parties saw recent work in a range of sectors including agribusiness, food and beverage and shipping.  

Client feedback 

“Good response, qualified staff, quick turnaround.” – Project development  

Demarest Advogados

Demarest Advogados has a strong showing on structured securities like CRAs (agribusiness backed receivables) and CRIs (real estate backed receivables). The firm acts for issuers and underwriters. The team advises on other capital markets deals such as bond issues where it has had underwriter and issuer roles recently.

The firm’s projects team has advised concessionaires and bidders in the energy (both renewable and traditional), roads and waste-management sectors among others recently.

Recent Deal Data highlights

•                      ABB $2.6 billion acquisition of GE Industrial Solutions

•                      AES Tietê acquisition of Projetos Guaimbês’ photovoltaic power plants

•                      Centrais Elétricas de Sergipe 1516MW thermoelectric power plant

•                      Companhia Brasileira de Securitização $248 million CRA issue

•                      Digital Realty $1.8 billion acquisition of Ascenty

•                      Gaia Agro $35 million CRA issue

•                      Isec Securitizadora $22 million CRI issue

•                      Raízen Energia $228.24 million CRA issue

Donelli Abreu Sodré & Martins Advogados

Donelli Abreu Sodré & Martins Advogados is an active M&A firm. The research period saw the firm advise buyers and sellers and saw notable work in the real estate and power sectors.  

Duarte Garcia Serra Netto & Terra Advogados

Duarte Garcia Serra Netto & Terra is active on M&A and project development matters.  

The M&A team advises buyers, sellers and joint venture parties and recent saw work in real estate, consumer goods and services and financial services. 

All project development information was confidential. Recent work includes advice to a bidder in the energy sector.  

Recent Deal Data highlights 

•Ivanhoé Cambridge/ Prologis $880 million joint venture 

Client feedback 

“Good relationship. Easy access to members. Strategic planning. Technical and specific knowledge.” – Project development  

“Excellent, focused providers with expertise in various subjects.” – Project development  

Feijó Lopes Advogados

Feijó Lopes Advogados is an active banking and M&A firm. 

The banking team primarily advised lenders over the research period and was active in banking and agriculture.  

The M&A team primarily advised buyers and joint venture parties this research period. Recent deals include work in healthcare and investment management. 

Client feedback 

“Strengths include punctuality, competence, transparency and safety.” – Investment funds 

Felsberg Advogados

Felsberg Advogados is ranked highest for its project development and M&A work.  

The project development team saw work in the power and waste management sectors this research period. One notable deal involved advising the developer on developing a bridge. The firm has also advised development banks on structuring PPPs.  

The firm’s M&A team advises buyers and sellers. The firm saw work in the automotive, consumer goods and services and agriculture sectors this research period.  

The firm’s capital markets team acted as deal counsel on CRI (real estate receivables) offers this research period. One notable deal saw the firm advise WiBOO on its ICO (Initial Coin Offering). 

The research period saw the firm’s banking team advise debtors, investors, suppliers and debenture holdings on debt restructurings. Felsberg saw recent work on deals in the energy and utilities sectors. The firm also advised lenders and borrowers on project finance matters and saw one notable matter in the energy sector.  

Recent Deal Data highlights 

•Eletrobras privatisation    

•Habitasec $10 million CRI offer 

•Meu Móvel de Madeir acquisition of Oppa Design  

•Salvador-Itaparica bridge  

•Supley $56.4 million acquisition of Probiótica  

•Vix Logística $71.5 million acquisition of L'S Rentals 

•Wibx ICO 

Client feedback 

“The firm provides us with fast responses and shows good knowledge of the subject.” – Project development  

“Excellent, top rate advice, very creative and knowledgeable lawyers.” – Restructuring and insolvency  

“Effective and competent work.” – Real estate  

Evy Marques and Thomas Felsberg  

“Outstanding lawyers with a deep knowledge of the Brazilian market.”  

Fraga Bekierman & Cristiano Advogados

Fraga Bekierman & Cristiano Advogados is an active M&A firm. The firm has advised sellers and joint venture parties in the hospitality, mining and engineering sectors this research period.

Kestener Granja & Vieira Advogados

Kestener Granja & Vieira Advogados is active in the M&A space. The team advised buyers and sellers and saw some notable work in the pharmaceuticals and metals sector this research period.

Lefosse Advogados

Lefosse Advogados is well known for its equity capital markets practice. The firm advises issuers and underwriters on IPOs and secondary issues and maintains a significant market share in this space. The firm’s capital markets team can also be seen on bond issues and structured product issues like CRAs, also advising issuers and underwriters.

The firm’s banking team is active on debt restructurings and corporate finance, as well as on providing banking regulatory advice to clients. Most of the banking deals reported this research period involve advice to banks or lenders, but the firm also advises borrowers.

Recent Deal Data highlights

•                      Arco Platform $194.4 million secondary issue

•                      Azul Linhas Aéreas Brasileiras $320 million secondary issue

•                      Companhia Siderúrgica Nacional $4.4 billion debt restructuring

•                      EDP Brasil acquisition of 14.5% in Celesc

•                      Enel acquisition of 93.3% in Eletropaulo

•                      JBS $500 million 7% bond issue

•                      Notre Dame Intermédica B3 IPO

•                      Notre Dame Intermédica $691 million secondary issue

Lobo de Rizzo Advogados

Lobo de Rizzo Advogados is ranked highest for its M&A, private equity and project development practices. 

The M&A team advises buyers and sellers and has seen work in energy, healthcare and education. 

The project development group has advised bidders on participating in auctions for power and transport projects. 

Banking deals saw the firm advise borrowers and lenders in pharmaceuticals, telecommunications and manufacturing over the research period.  

The firm’s debt capital markets team advised issuers and underwriters on bond issues in transport, consumer goods and services and energy over the research period.  

Recent Deal Data highlights 

•Ascenty Data Centers e Telecomunicações $350 million financing  

•Biosev $1.1 billion debt restructuring  

•Engie and QDPQ $8.6 billion acquisition of 90% of Transportadora Associada de Gás 

•Line 5 and Line 17 São Paulo Metro 

•Linhas de Energia do Sertão Transmissora 200km transmission line 

Client feedback 

“They provide very qualified and tailor-made work, with very specific advice and assistance in negotiations. In addition to being very experienced, they are available and dedicated to clients' needs.” – M&A  

“Excellent quality, partners are available for discussions.” – Project development  

“Overall, the work is well developed. The firm has lawyers trained for the job. Strengths technical knowledge the lawyers have and the availability they have to provide us with adequate care.” – Restructuring and insolvency  

Machado Meyer Sendacz Opice Advogados

Machado Meyer Sendacz Opice Advogados is a leading transactional firm.

The firm’s well respected project finance team and has been active in a range of areas this research period including aviation and energy working for borrowers and lenders.

In capital markets the firm tends to work on high value bonds, advising both banks and issuers. Recently it has seen some notable work in the equity capital markets space, advising issuers on IPOs and secondary share issues.

The M&A team lost Apoena Joels to Tauil & Chequer, but hired Décio Pio Borges de Castro from Pinheiro Neto.  

Recent Deal Data highlights

•                      Arco Group $417 million acquisition of Positivo

•                      Belo Horizonte Airport

•                      Cerâmica Urussanga $253 million acquisition of Cecrisa Revestimentos Cerâmicos shares

•                      Coremas 62MW photovoltaic power plant

•                      JBS $500 million 7% bond issue

•                      Neoenergia B3 IPO

•                      Rio de Janeiro $76.5 million financing

•                      São Paulo solid waste PPP

Client feedback

“Overall, we have found the lawyers to be of the highest quality. They are ultra-responsive, creative and focused on problem solving. They are able to deal with even our most difficult requests adeptly and have won our trust. Adriano Schnur is particularly skilled in the finance, infrastructure and restructuring areas, and completely focused on clients and delivering the best service possible. He is our go-to lawyer for finance matters and always makes time for us. Guilherme Malouf is a very strong M&A practitioner and has steered us and our clients well on countless large transactions. Partners Paulo Nunes and Paulo Pinto are also very strong and have won high praise on our deals from us and our clients.”  – Banking, M&A

“The partners are always available to help the company with their problems and find fast and innovative solutions. The team is very competent and quick to give the company the answers that are needed.”  – Capital markets: debt

“Very good, as usual.”  – Capital markets: debt, project finance

 “Top notch firm, highly technical and with great service, from beginning till end. Perfect combination of experience and agility.” – M&A

“Strengths include the excellence in the quality of the delivery of service and the full commitment to the client.” – M&A

“Machado Meyer's team was very responsive, with an impressive turnaround time. The work was consistent and the team leaders were always available.” – M&A

“The firm has significant experience on projects that combine both civil and public law.” – Project development

“Strengths include the extremely technically prepared legal advice, the deep infrastructure industry knowledge and the creative solutions.” – Project development

“There are excellent and skilled lawyers from junior level to head level. Machado Meyer provides accurate, timely advice.” – Project finance

“Machado Meyer is one of the top leading law firms in Brazil. In my opinion, the infrastructure team is, by far, the best in the local market.” – Project finance 

Eduardo Castro

“Eduadro is very helpful and is always ready to answer the company’s demands. His knowledge of the company sector and specifications is very high and this helps him to be a unique lawyer us.”

Alberto Faro

“I worked with Alberto for years. He is an amazing project finance lawyer. Very attentive and has strong technical skills.”

“Deep knowledge on Brazilian legal matters, especially banking, corporate, project finance and contracts. Always kind and available to speak with clients and solve their issues.” 

Luciana Costa Engelberg

“Luciana's hard work, turnaround times and responsiveness are outstanding. She quickly built strong relationship with our team members at all levels and everyone she interacted with was complimentary of her work. She is very knowledgeable in her area of expertise and a strong negotiator.”

Bruno Racy

“Clear communication; expertise; excellent knowledge on banking matters; available at any time.”

Gustavo Rebello

“Gustavo is a star in M&A, very resourceful and efficient. Energy and great communication skills makes him an exceptional lawyer and negotiator.”

“Gustavo is a new partner that worked with us for years and deserves the new position. He has strong technical skills.“ 

Adriano Schnur

“He is an excellent practitioner, both technically and from a client management point of view. He is ultra-responsive and makes each client feel like they are his only client. He is collaborative and thinks things out before acting and giving advice. We feel very safe in his hands and trust his judgment.” 

Adriano Schnur and Mauro Penteado

“Provide a prompt response and innovative legal solutions.” 

Rafael Vanzella

“Very capable. His analysis often provides a great deal of insights and risk debriefing.”

“Excellent in finding solutions Strong skills with dealing with the client.”

José Virgílio Lopes Enei

“We can easily access Virgilio and his commitment to a result that fits the client needs is impressive. His technical and leadership skills are also remarkable”.

Madrona Advogados

Madrona Advogados has an active transactional practice. 

The M&A team advises buyers and sellers and saw some notable work in the healthcare and pharmaceuticals sectors this research period.  

The capital markets team acted as deal counsel on the issue of CRIs and debentures this research period. Agriculture, energy and real estate were active sectors.  

Recent project development matters include advice to financial institutions on analysing PPPs and concessions and advising an SPV on drafting of accessory revenue agreements for hospital PPPs. Deals took place in energy, public lighting and ports.  

Recent Deal Data highlights 

•BlueFit Academias de Ginástica acquisition of Fórmula 

•Companhia Energética de São Paulo privatisation  

•Ecoagro $4 million CRI issue  

•Fortbras Autopeças acquisition of União Participações 

•Hapvida B3 IPO 

•Instituto Hermes Pardini acquisition Diagnósticos Laboratoriais Especializado 

Manassero Campello Advogados

Manassero Campello Advogados is an active M&A firm. The firm, this research period, has advised buyers and sellers in energy, agriculture and education. 

The research period also saw the firm advise an issuer on a bond issue.  

Recent Deal Data highlights 

•Somos Operações Escolares acquisition of Colégio do Salvador 

•Somos Operações Escolares acquisition of Escola Santo Inácio 

•Sumitomo Corporation acquisition of  Agro Amazônia   

Client Feedback 

“Strength include speed, knowledge, simplicity and thoughtfulness. No weaknesses identified.” – Corporate  

Mattos Engelberg Advogados

Mattos Engelberg Advogados is an active M&A firm that has advised buyers and sellers and seen work in software, chemicals and telecommunications this research period. 

Recent Deal Data highlights 

•Quiver acquisition of EBS  

Client feedback 

“A technical and fast law firm.” – M&A

Mattos Filho Veiga Filho Marrey Jr & Quiroga Advogados

Mattos Filho is a top tier firm across the board.

In banking the firm advises lenders, borrowers and guarantors on credit facilities. 

The firm’s capital markets practice, which advises both issuers and underwriters, has had a broad range of work. Its deals include equity issues (both IPOs and secondary share issues) as well as green bonds, debentures, international bond issues and CRAs.

The firm’s project development team has advised developers and contractors on EPC contracts and other agreements for projects. The team has been particularly active in the oil and gas sectors this research cycle and has also seen work in aviation and transport.

Recent Deal Data highlights

•                      Advent International acquisition of 80% in Walmart Brazil

•                      Engie and QDPQ $8.6 billion acquisition of 90% of Transportadora Associada de Gás

•                      Equatorial Energia $111 million bond issue

•                      Grupo Siete Leguas Holdings acquisition of Santista Work Solution

•                      Klabin $500 million 5.75% and $500 million 7% green bond issue

•                      Light Serviços de Eletricidades $189.5 million bond issue

•                      Santa Vitória do Palmar 207MW wind power plant

•                      Salvador Airport

 

Client feedback

“The attention to clients, relationship with clients and the firm’s expertise and full service are highlights.” - Banking

 “Super! Bold partners and a sharp team of lawyers provided a one-stop shop solution for the deal.” – M&A

“The firm has abilities that are comparable to the premier New York Law Firms. The knowledge and experience of the partners is truly world class.” – M&A

“Excellent and clear analysis of the red flags arising out from their due diligence review. They were available to discuss the report at any time and the results were very client oriented and useful for the transaction.” – M&A

“It was the second type Mattos Filho assisted us in a process like this. The firm relied on our previous experience together and focused on major new issues instead of redoing work that had been done in the past, thus ensuring a reasonable fee management.”   – Project development

Andrea Basso

“One of the best, if not the best, tax lawyers in country.”

Frederico Kerr Bullamah

“Strengths included his expertise, relationship with clients and attention.”

Giovani Loss

“Excellent business and client oriented advice.”

Pablo Sorj

“Pablo is a good listener. Creates a bond with client thanks to his professionalism and focus on problem solving.”

“Great.”

Sabrina Naritomi

“Top notch.”

Moacir Zilbovicius

“Moacir is probably a lawyer statesman in Brazil when it comes to M&A. He has a complete domain of the transaction.”

Mazzucco & Mello Advogados

Mazzucco & Mello Advogados is an active M&A firm. The firm advises buyers and sellers and advised clients in manufacturing and pharmaceuticals this research period. 

Melcheds || Mello & Rached Advogados

Melcheds || Mello & Rached Advogados has advised buyers and sellers over the research period and worked in the software, pharmaceuticals and energy sectors.  

Recent Deal Data highlights 

•ABC Financial Services acquisition EVOW12 

Client feedback 

“Deal oriented.” – M&A  

MMA Legal

Marcelo Mello Advogados (MMA) is an active project development firm. The firm has recently advised clients as bidders on bidding processes, EPC contractors on their projects and advised on other matters in the oil and gas, energy and transports.  

Client feedback 

“It’s fast and easy to communicate with the law firm. The firm has wide knowledge regarding regulatory and litigation law, and the firm is reliable.” -  Financial services regulatory  

Monteiro Rusu Cameirão Bercht & Grottoli Advogados

Monteiro Rusu Cameirão Bercht & Grottoli Advogados is an active debt capital markets firm that primarily advised underwriters on debentures issues this research period. The firm saw recent work in telecommunications and healthcare.  

Client feedback  

“The law firm members have high technical qualifications and show creativity and agility in the presented solutions.” – Capital markets: structured finance and securitisation, capital markets: debt  

Moura Tavares Figueiredo Moreira & Campos Advogados

Moura Tavares Figueiredo Moreira & Campos Advogados advises buyer and sellers on M&A. One recent matter took place in the agriculture sector.

Navarro Advogados

Navarro Advogados is active on debt capital markets and M&A matters. 

The capital markets team has primarily advised issuers this research period on CRI issues (real estate backed receivables) and debentures issues. Healthcare and real estate were active sectors.  

The M&A team advised sellers and buyers in real estate and mining this research period.  

Recent Deal Data highlights 

•Barra da Tijuca Participações acquisition of 80% of Abiu SP 

Novotny Advogados

Novotny Advogados is an active M&A firm, which advises buyers and sellers. This research period the firm worked on deals in the consumer goods and services, healthcare and education sectors. 

Client feedback 

“The work was wonderful. All the lawyers who worked with us have given us confidence and demonstrated a deep knowledge of the subject.” – M&A  

Padis Advogados

Padis Advogados is a new firm comprised of former Stocche Forbes partners Paulo Padis and Beatriz Mazzi, former Pinheiro Neto partner Alexandre Rios and former Evaristo Araújo Sociedade de Advogados partner Clovis Panzarini. 

The firm has an active restructuring and insolvency group which has advised bond holders and ad hoc committees of lenders over the research period on judicial reorganisations and restructurings of facilities. 

The research period also saw the firm advise a developer on an energy project.  

Peixoto & Cury

Peixoto & Cury is an active M&A firm and has primarily advised acquirers and investors this research period and saw a notable deal in the manufacturing sector. 

Recent Deal Data highlights 

•Weber Shandwick acquisition of Cappuccino 

Client feedback 

“I would highlight the personal involvement of the partner throughout the whole negotiation process, the deep technical knowledge of all team members, their ability to cope with several stressful situations and their creativity to come up with solutions in deadlock situations. If I had to suggest an improvement (although I didn't have any problem with that in my relationship with the firm so far), I would suggest having one more partner involved in the deals (there was a partner totally dedicated to the transaction but maybe someone in a shadow position could be helpful occasionally should the lead partner have any problem).” – M&A  

Pereira Neto | Macedo

Pereira Neto | Macedo is an active banking firm that advised borrowers and lenders over the research period and was active on deals involving investment funds.  

Recent Deal Data highlights 

•Gipar $50 million financing  

Perlman Vidigal Godoy Advogados

Perlman Vidigal Godoy Advogados has a strong debt capital markets practice, but is overall an active transactional firm.  

Recent capital markets deals saw the firm advise coordinators on the issue of bonds and CRAs (agribusiness receivables).  

The M&A team advises buyers and sellers and saw recent work in healthcare, textiles and agriculture.  

Recent Deal Data highlights 

•Grupo Siete Legua acquisition of Santista 

PGLaw

Portugal Gouvêa & Monguilod Advogados’ M&A team has advised buyers and merger parties this research period on deals in the software and nature preservation sectors. 

The firm hired M&A partner Renato Jabur from Gaudencio McNaughton.  

Client feedback  

“Good service quality.” – M&A 

Pinheiro Guimarães

Pinheiro Guimarães is recognised for its leading finance practice. The firm maintains a significant market share in the banking and capital markets spaces and advises a mix of borrowers, lenders, issuers and underwriters on loans and securities issues.

Over the research period the firm added banking and capital markets partner Maria Costa Neves Machado from Itaú BBA.

Recent Deal Data highlights

•                      CGN Energy $778 million acquisition of Enel Green Power renewable power plants

•                      Eletropaulo $725 million bond issue

•                      Enel acquisition of 93.3% stake in Eletropaulo

•                      Sky Serviços de Banda Larga $1 billion financing

•                      Klabin $1.1 billion financing

•                      Rede D'Or $338.6 million bond issue

•                      Omega Geração $294 million acquisition of 50% of Pirapora solar projects  

•                      Stellar Participações and Ascenty Data Centers e Telecomunicações $775 million financing

 

Client feedback

“Great team, very accurate. Diligent execution.” – M&A

“The firm has a very experienced and business-oriented team of lawyers with deep knowledge of cross-border M&A projects acting for both sale and acquisition parties, truly contributing to better decision-making of client during the course of project, due diligence and negotiation.” – M&A

“Very high quality work. Precise communications and organisation skills. Creativity in managing complex cases.” – M&A

“The team has a lot of experience with contracts of the same type and at this specific field, bringing good insights and great support on the negotiation.” – Project development

Manuela Andrade

“Smart and fast on understanding the company's concerns, Manuela always brings positive discussions and solutions to the negotiation.”

Marcelo Lamy

“Marcelo is a brilliant lawyer, with whom I really enjoy working. He is straightforward, sagacious, with strong negotiation and personal skills, always providing us with very good insights on business aspects of the deal that go way beyond the legal ones.”

Rodrigo Marcilio

“Strengths include availability, quick response, great knowledge of M&A deals and protection of clients’ interest.”

Pinheiro Neto Advogados

Pinheiro Neto Advogados is a leading firm for financing, M&A and projects work in Brazil.

The firm has a strong banking practice and works on high value credit facilities (advising borrowers and lenders) and often advises banks on regulatory matters.

The capital markets team is strong in both debt and equity issues. Most debt capital markets deals over the research period saw the firm either advise the banks or act as deal counsel.

The firm saw M&A work advising buyers and sellers in a range of sectors but saw a lot of work in the energy and infrastructure sectors.

The firm opened an office in Silicon Valley over the research period.

Recent Deal Data highlights

•                      Banco Inter B3 IPO

•                      Carlyle Group $186.4 million acquisition of 23.33% in Madero

•                      EDP Group transmission lines

•                      HIG Capital $42 million acquisition of controlling stake in Elekeiroz

•                      Mafrig $969 million acquisition of National Beef

•                      MUFG Bank $435 million block trade of Banco Bradesco stake

•                      Notre Dame Intermédica $691 million share issue

•                      UTE GNA I Geração de Energia 1.3GW LNG plant

 

Client feedback

“Very good service overall, the only real ‘one stop shop’ of legal services in the Brazilian market. Outstanding Banking and Regulatory team, led by Bruno Balduccini and Jose Luiz Homem de Melo.” – Banking, Financial services regulatory

“Pinheiro Neto is not only a full service firm, they are a top tier law firm in the banking and capital markets industry. The partners and the senior counsels are very knowledgeable.” Banking, capital markets   

“PNA has a strong brand in the country. The firm was great balancing innovative structures with its conservative approach. The partner and his team were highly engaged and supportive along the whole process.” – Financial services regulatory

“The work has a high quality standard, the team is completely aligned and there is no miscommunication. They are always available to assist the company.” – M&A

Bruno Balduccini

“Best in the market by far.”

“Bruno is very experienced, has deep knowledge in the banking industry and is excellent in client management.”

Alessandra Carolina Rossi Martins

“Strong innovative mind, strong relationship capability. Industry expert.”

Vania Moyano

“Intelligent, fast thinking, strategist, easy-going.” 

Queiroz Maluf Sociedade de Advogados

Queiroz Maluf Sociedade de Advogados is active on project development matters. The firm worked on a range of matters this research period but some notable highlights include advising bidders on public bids for highways.

Rayes & Fagundes Advogados

Rayes & Fagundes Advogados, through its M&A team, has recently advised sellers, joint venture parties and buyers on oil and gas, investment funds and agribusiness deals.  

Client feedback 

“Excellent. Complete knowledge of all specialised areas within the firm. So far, nothing to complain of.” – M&A  

Silveiro Advogados

Silveiro Advogados is an active M&A firm which advises buyers and sellers. 

Client feedback 

“I have only good recommendations about this firm. They are very transparent with solid principles. They know the law and their advice is like pure gold. I recommend them 100%.” – M&A, Restructuring and insolvency 

“I am very satisfied with the work performed. Very skilled lawyers. Always replied promptly and always carried out work in a reasonable time.” – M&A  

“I was very positively surprised with their work, knowledge, seriousness. We quickly were able to trust them 100%.” – M&A  

Sion Advogados

Sion Advogados is active in the project development space. Deal information was confidential but included advising mining clients on regulatory matters and sale purchase agreements and advising an energy company on an EPC contract.  

Client feedback 

“Sion Advogados has a great team specialised in environmental matters. It has excellent technical expertise and met all the deadlines. It is a law firm that I would recommend.”  - Project development  

Siqueira Castro - Advogados

Siqueira Castro – Advogados is an active project development and transactional firm.   

The firm’s project development team advised aviation companies on bids for airport projects. 

Client feedback 

“The main qualities of the firm are linked to the competence and preparation of its main partners, who have a lot of experience. Another quality is the national coverage of the firm, which facilitates access to good lawyers in practically all states of Brazil.” – Real estate  

Souza Mello & Torres

Souza Mello & Torres was founded in April 2018 by Luis Antonio Semeghini de Souza, Carlos José Rolim de Mello and Clovis Torres. The firm is an active project finance and debt capital markets firm. 

The research period saw the firm advise sponsors on project finance deals in the energy space.  

In capital markets the team primarily advised issuers, guarantors or acted as deal counsel on bond and CRA (agribusiness receivables) issues. The firm saw some notable issues in the utilities and pharmaceuticals space. 

The M&A team has advised buyers and sellers this research period in financial services, agriculture and pharmaceuticals.  

Recent Deal Data highlights 

•Ápice True Securitizadora $25 million CRA issue 

•UTE GNA I Geração de Energia 1.3GW LNG plant

Stocche Forbes Advogados

Stocche Forbes Advogados is a leading project finance firm and advises both borrowers and lenders.

Most banking deals over the research period for the firm took place in the energy and infrastructure sectors and included work for both borrowers and lenders.

The firm maintains active transactional practices in capital markets, where it advises issuers and underwriters and sees a lot of work involving bond issues, and M&A.

Recent Deal Data highlights

•                      Centrais Elétricas de Sergipe 1.516MW thermal power plant

•                      Copel Geração e Transmissão $77.7 million bond issue

•                      Engie and QDPQ $8.6 billion acquisition of 90% of Transportadora Associada de Gásfff

•                      Florínea-Igarapava 570km road system

•                      Hemisfério Sul Investimentos $113.7 million acquisition of stake in Granja Vianna and Paralela

•                      Nexa Resources $62.5 million financing

•                      Somos Educação $244.4 million bond issue

•                      Xingu Rio Transmissora de Energia 2.535km transmission lines

Client feedback

“Stocche Forbes did very well with due diligence aspects and answered all our questions related to regulatory matters.” – Capital markets: debt

“The entire team is highly qualified and capable of persuading every party to the transaction to converge their views. In addition, the partner in charge of the deal is present and helps to solve any potential deadlocks.”  - Project finance

Frederico Moura

“Regardless of which party he is serving, Frederico always tries to find the right angle to make everybody converge their views, avoiding deadlocks and speeding up the transactions.”

Tauil & Chequer Advogados - Mayer Brown

Tauil & Chequer Advogados has a strong projects practice, both on the finance and the development side, working for all types of parties involved in these deals.

The firm’s debt capital markets team often finances projects through the issue of infrastructure bonds, and has experience advising both issuers and underwriters.

In project development the firm has been active advising potential concessionaires on bids and expression of interest procedures for projects in the sanitation, public lighting and healthcare sectors, among others.

The firm saw some staffing changes this research period.  Lawyers Guilherme Vieira da Silva, Caio Cossermelli and Paula Magalhães left the firm but M&A partner Alexandre Calmon and capital markets partner Bruno Cerqueira joined.

Recent Deal Data highlights

•                      Banco Inter B3 IPO

•                      Braskem $1 billion financing

•                      Centrais Elétricas de Sergipe 1.516MW thermal power plant

•                      Eneva $4.5 million acquisition of Azulão Field

•                      Engie and QDPQ $8.6 billion acquisition of 90% of Transportadora Associada de Gás

•                      Moreno Group $395 million debt restructuring

•                      Port São Luís terminal

 

Client feedback

“Outstanding work from a technical and negotiation skills point of view.” – Banking

“Excellent work, cost effective with a senior team.” – Capital markets: Debt

TozziniFreire Advogados

TozziniFreire Advogados is a strong transactional firm.

The firm’s banking team has advised banks on regulatory matters and has advised borrowers and lenders on credit facilities.

In the research period the firm’s capital markets team, advising issuers and underwriters, has seen work on a range of securities deals: IPOs, green bonds and CRAs. The firm has also seen some notable matters in the social impact space, particularly related to work around social impact housing financing, such as issuer role on a social housing bond.

The firm added banking and finance partner Gustavo Rabello from Bank of New York Mellon and added partner André Antunes Soares de Camargo to its M&A team.

Recent Deal Data highlights

•                      Azul Linhas Aéreas Brasileiras $320 million secondary issue

•                      Banco Regional de Desenvolvimento do Extremo Sul €50 million financing

•                      Banco Santander Brasil $367.3 million acquisition of Getnet

•                      Glencore Oil Participações acquisition of Alesat Combustíveis

•                      Smart Fit Escola de Ginástica e Dança acquisition of Corporación Sport City

•                      Jalles Machado $55 million financing

•                      Klabin $500 million 5.75% and $500 million 7% green bond issue

•                      Raízen Energia $228.24 million CRA issue

Client feedback

“The firm is a full service law firm and this is a strength, price wise they are also reasonable and my experience has been with very seasoned professionals.” – Capital markets: debt

“TF is a very proactive firm that brings, besides excellent legal views and opinions, a business mind-setto our project.” – Project development

Ana Candida de Mello Carvalho

“Excellent partner of the company. Very knowledgeable, professional and business minded. Not afraid to voice an opinion. Force multiplier for the project.”

Fabiola Cavalcanti

“Market oriented. Has deep knowledge. Business partner.”

Trench Rossi & Watanabe Advogados

Trench Rossi & Watanabe Advogados has a broadly strong transactional practice. 

The research period saw the banking team advise borrowers and lenders in the banking and mining space. 

The capital markets team primarily advised issuers or acted as deal counsel on bond issues over the research period. Natura Cosméticos was an active client and the firm also saw work in the telecommunications and industrials sectors. 

In M&A the firm advises buyers, sellers, joint venture parties and merger parties. The firm saw some recent notable work in the automotive, food and beverage and entertainment sectors. 

The firm’s project development team helped a client participate in an auction for renewable energy this research period.  

The firm hired banking, capital markets and M&A partner Daniel Facó over the research period from Cescon Barrieu Flesch & Barreto Advogados. 

Recent Deal Data highlights 

•Banco Regional de Desenvolvimento do Extremo Su €50 million financing  

•LVMH Moët Hennessy Louis Vuitton acquisition of Belmont 

•Natura Cosméticos $750 million 5.375% notes 

•South Rock acquisition of Starbucks do Brasil Comércio de Cafés 

•Unidas/ Locamerica merger 

Client feedback 

 “Senior team that fits the reality of the company, fully available at any time. It stands out for its deep knowledge and for getting involved at all points during the capital market issues. Resolves conflicts quickly.” – Capital markets: debt 

“Very dedicated and knowledgeable lawyers.” – Capital markets: debt 

“The M&A team led by Mauricio Pacheco is extremely qualified and committed to clients’ needs. They are dedicated to understanding our business and thus become more efficient at every new deal.” – M&A  

Vaz Buranello Shingaki & Oioli Advogados

Vaz Buranello Shingaki & Oioli Advogados is a strong debt capital markets firm. 

The firm’s capital markets team advises bookrunners, issuers and acts as deal counsel on bond issues. Recent work took place in the automotive, utilities and pharmaceuticals sectors. 

The M&A team advises buyers and sellers. Over the research period, the firm worked in the financial services and real estate sectors. 

Recent Deal Data highlights 

•Banco BMG acquisition of 65% stake in Granito 

Client feedback 

“VBSO is a high quality service provider in legal matters related to debt capital markets, the partners are always available and also participate actively in the structuring of the deals.” Capital markets: debt  

“Excellent knowledge in corporate and tax advice, very diligent and speedy in the realisation of their tasks. Really impressively fast on complex tasks.” – Project development 

Veirano Advogados

Veirano Advogados works on a range of transactional matters and is especially strong in the projects and M&A spaces.

The firm’s capital markets team advises both issuers and underwriters and often works on the issue of non-convertible debentures.

The firm’s M&A team has advised buyers, sellers and joint venture parties during the research period and saw notable deals in the agriculture, financial services and energy sectors.

Recent Deal Data highlights

•                      Banco Bradesco $55 million acquisition of 65% in RCB

•                      Duratex / Lenzing joint venture

•                      Leagold $295 million acquisition of Brio Gold

•                      Engie Brasil Energia $197.9 million bond issue

•                      Fortaleza - Pinto Martins airport expansion

•                      Frutarom acquisition of 51% of Bremil

•                      RGE Group $604 million acquisition of Lwarcel Celulose

•                      Sky Serviços de Banda Larga $1 billion financing

Client feedback

"Strengths include knowledge, availability and good negotiation technique." – M&A

Excellent work. Very good analysis, very good negotiation skills. All around excellent service.

Carlos Lobo

“Strengths include availability and good business knowledge.”

Gustavo Moraes Stolagli

“Really fantastic work. One of the best I've worked with internationally.”

Viseu Advogados

Viseu Advogados is recognised by IFLR1000 for its M&A work and saw both buy and sell-side M&A this research period. The firm saw some notable recent work in healthcare and mining. 

Client feedback 

“Extremely agile and has a focus on problem solving.” – Restructuring and insolvency 

Paulo Bardella Caparelli 

“Very prepared and experienced.” 

Wongtschowski & Zanotta Advogados

Wongtschowski & Zanotta Advogados is an active M&A firm.  

The firm tends to work on deals in the middle market and advises buyers and sellers. Over the research period, the firm worked in ports, public lighting and agriculture.  

The firm lost M&A partner Bruno Strunz but hired M&A partner Tiago Bonatti Peres from Cescon Barrieu Flesch & Barretto Advogados over the research period.  

Recent Deal Data highlights 

•Bandeirantes $37.5 million acquisition of of Deicmar 

•Duratex $70 million acquisition of Cerâmica Urussang and Massima Revestimentos Cerâmico 

•Engie $15.75 million acquisition of Sadenco