Brazil

IFLR1000 Reviews

Financial and corporate
Araújo & Policastro Advogados

Araújo & Policastro, founded in 1962, is located in São Paulo and is known for its work in the corporate practice area. It is part of Denton’s NextLaw Referral Network, giving the firm an international presence.

 

Focusses / specialisms

In the corporate law sphere, the firm specialises in M&A transactions and often represents buyers and sellers. Although it works across a wide variety of industries, it is especially prevalent in agribusiness, technology and life sciences.

 

Key clients

Key publishable clients include Rentokil Initial.

 

Research period review: 30th edition (2019/2020)

During the research period the firm was active in M&A securing buy and sell side roles. One deal saw it on the buy side of an acquisition in the biotechnology industry.

 

Deal highlights: 30th edition (2019/2020)

Rentokil Initial acquisition of Ecovec Comércio e Licenciamento de Tecnologias

 

Client feedback: 30th edition (2019/2020)

 

M&A

“Experienced in the area and they do everything well.”

 

Project development

“Outstanding team with integrity, deep knowledge of the country's law and excellent connection with partners overseas.”

BMA - Barbosa Müssnich Aragão

Barbosa Müssnich Aragão, or BMA, was founded in 1995 and has since become a highly regarded firm in the financial and corporate practice areas. Team members are spread out across three offices: São Paulo, Rio de Janeiro and Brasília. The firm’s international focus is represented through their China and French desks.

 

Focusses / specialisms

The firm is strong across all of their financial and corporate practice areas, but it is perhaps most highly regarded in M&A, where the team advises buyers and sellers alike.

The banking team works with both borrowers and lenders, with an emphasis on the borrower side.

Similarly, the capital markets debt and equity practice areas mostly advise issuers, but also underwriters.

The project development practice area advises sponsors on infrastructure construction in a range of industries.

 

Key clients

Key clients for of the firm span all industries. Some examples include Oi, CPFL Energia, América Móvil, Embraer, Carrefour, Olympique Lyonnais Groupe, Queiroz Galvão Group, XP, Zurich Airport Latin America and LATAM Airlines.

 

Research period review: 31st edition (2020/2021)

During the research period the firm was active in banking, capital markets, M&A and projects.

The banking team advised on bridge loans, credit facilities and debt restructurings. It primarily advised borrowers. 

Capital markets work included advise to issuers and underwriters in registered offerings and IPO’s. It also assisted issuers and borrowers on bonds, structured securities, and green bonds. The team also structed real estate investment funds and advised on the issue of FIP’s.

In terms of M&A transactions it advised on innovative transactions in the insurance and education spaces. The team advised on a wide range of deals for both buyers and sellers.

The project development practice advised sponsors on construction of power and oil and gas infrastructure. Standout work included obtaining licensing for operating waterway terminals.

Partner Fabiana Fagundes departed the in 2020 to found FM/Derraik

 

Deal highlights: 31st edition (2020/2021)

Agence Française de Dévéloppement $82 million credit facility

Allianz $577 million acquisition of Sul América

Rede D'or IPO

Sociedade de Ensino Superior Estácio de Sá $370 million acquisition of Adtalem Brasil Holding

Terna Group $37 million bridge loan

 

Client feedback: 31st edition (2019/2020)

Banking and finance

"BMA’s team is highly experienced on all matters of Brazilian financial regulations."

 

Capital markets

Carries out careful reviews. Provides reliable advice. Full commitment on post-signing measures."

"Provides expertise that is focused on solving problems. Creative. A lot of capacity."

 

M&A

"They know their clients’ and their risk appetites."

 

Camila Goldberg

"Camila was an intern at our bank before she joined BMA. She combines a deep knowledge of regulations with a pragmatic approach that is hard to find."

 

Henrique Vargas Gama Beloch

"Great listener, pragmatic, and a hard worker."

 

Jane Goldman Nusbaum

"Careful reviewer. Knowledgeable of financial and operational concepts."

 

Luciana Mãgalhaes Costa

"Has expert knowledge. Good availability. Creative at finding solutions."

 

Monique Mavigner

"Has expert knowledge. Good availability. Creative at finding solutions."

 

Paulo Aragão

"Has expert knowledge. Good availability. Creative at finding solutions."

Cescon Barrieu Flesch & Barreto Advogados

Cescon Barrieu is a nationally recognised Brazilian firm with five offices located in São Paulo, Rio de Janeiro, Belo Horizonte, Brasília and Salvador. 

 

Focusses / specialisms

The firm’s strengths lie in M&A, debt capital markets and project finance.

The banking and finance and capital markets teams have developed strong relationships with international banks, and so most of the banking and project finance transactions are on the lender side.

The debt and equity capital markets team is focused on the technology and energy industries, working with both issuers and underwriters.

In M&A the team works mostly with strategic buyers and private equity.

The project development team advises developers in all industries, but is particularly active in energy, infrastructure and oil and gas projects.

 

Key clients

Many of the top international banks are key clients of Cescon Barrieu, including Société Générale, Banco Santander, Citigroup Global Markets, JP Morgan Chase, Bank of Nova Scotia, Itaú Unibanco and Deutsche Bank. Other key clients for the firm include Suzano Papel e Celulose, Eletrobras, Brookfield Business Partners, Enel Brasil and Changi Airports International.

 

Research period review: 31st edition (2020/2021)

Across the research period, the firm was active in banking and finance, capital markets, M&A and projects.

The banking team advised on debtor-in-possession financing, credit loans and debt restructuring. Project finance work included work in sectors like power and shipping, with an emphasis on oil and gas and power.

In terms of debt capital markets work the team advised on complex and innovative debentures as well as note issuances. Equity wise the firm advised on several IPO’s and secondary offerings. In terms of equity and debt work the firm advised a mix of underwriters and issuers.

M&A deals for the firm included public acquisitions, private equity acquisitions, and a high-profile hostile merger. The team assisted buyers and sellers especially in renewable energy.

Project development deals included public lighting PPP’s, power purchase agreements and other energy projects.

 

Deal highlights: 31st edition (2020/2021)

Defense of Enva’s hostile takeover of AES Tietê

Globo $500 million bond issue

Hypera $825 million acquisition of Takeda

Lavvi IPO

Teresina Public lighting PPP

 

Client feedback: 31st edition (2020/2021)

Capital markets : Equity

"Cescon Barrieu has a team of experienced lawyers and they have done a very good job in assisting the company to register as a publicly held company."

 

Financial services regulatory

"Knowledge of regulation. Commercial skills help dealing with our clients. Intelligent and proactive solutions for dead-ends that occur during the process. 24/7 availability."

 

Leveraged finance

"High-quality professionals and work. Flexible around receiving input from clients and focusing on the goal."

 

Project development : Energy

"Cescon Barrieu and partner Rafael Baleroni are very responsive and attentive to their clients’ needs. They are very competent and provide an excellent service in a variety of areas of law. "

"Dynamic. Proactive. Available. Know-how. Knowledge."

 

Project finance          

"Very knowledgeable and experienced in Brazilian offshore oil & gas matters. Easy to work with. Very professional."

 

Daniel Laudisio

"Daniel Laudisio is a young partner with deep experience in capital markets and has a very good approach to solving problems. "

 

Gabriel Seijo

"Gabriel Seijo is a young litigation partner who assisted us in an important case. He and his team produced a quick response for our case, prepared our law suit in a record time, and obtained an important decision for the company."

 

Igor Rego

"Deep knowledge and great capacity to provide alternative solutions, allied to great commercial skills when in contact with our client. "

 

Maurício Teixeira dos Santos

"First-class lawyer: knowledgeable, experienced and easy to work with."

"Knowledge, availability and proactive."

"Technical know-how and management of the client."

 

Rafael Baptista Baleroni       

"First-class lawyer: knowledgeable, experienced and easy to work with."

"Very competent. Very responsive. Understands client business needs."

"Very well prepared. Received a Rising Star Award in 2019. Our project team has Rafael as a team member. He integrates well and has become an active team member."

Dias Carneiro Advogados

Located in São Paulo, Dias Carneiro is a full-service firm founded in 2002.

 

Focusses / specialisms

The banking team represents both borrowers and lenders on many types of transactions, most notably export prepayments and credit facilities.

The M&A team specialises in financial services, energy and technology sector transactions for both strategic buyers and sellers.

The projects team represents borrowers, lenders, developers and sponsors on projects in the energy, sanitation, pulp and paper, mining and oil and gas industries.

 

Key clients

Key clients for the firm include the IDB, Kinea Investimentos, Stefanini and Vestas Wind Power.

 

Research period review: 31st edition (2020/2021)

The firm was active across financial, corporate and project development work over the research cycle.

The banking team acted as counsel in innovative financing transactions for lenders. Activity during the research period also involved project financing for renewables projects

Investment fund work for the firm included advice on CRI’s and CRA issues.

M&A work was the lead firm on a joint ventures and buy-side acquisitions. Stand out sectors from the research cycle included tech, agribusiness and infrastructure.  

The project development team worked on renewable energy projects, particularly wind energy projects.

The firm welcomed partner Paula Seabra Carvalho Reis from Cleary Gottlieb Steen & Hamilton in May 2020.

 

Deal highlights: 31st edition (2020/2021)

Inter-American Development Bank investment in Jacaranda renewable energy project

Logos Companhia Securitizadora R$200 million CRI offering

Nidec Corporation acquisition of Mitsubishi Heavy Industries

Vestas Wind Power agreements for wind turbine supply

 

Client feedback: 31st edition (2020/2021)

Bank lending : Lender side

Very pro-business, assertive and very creative in finding solutions to problems."

 

Banking and finance

"Easy contact with senior counsels."

 

Capital markets : Debt

"Very knowledgeable of Brazilian law. Very professional bilingual attorneys, who are responsive to pressure and time sensitivities. The firm is technology savvy: a very useful skill during a pandemic which can also result in savings during normal periods."

"Very strong technically. Good client service, and willing to find pragmatic solutions."

 

M&A

"Provides assistance, knowledge of the country rules and all documents."

"We, together with the firm, analysed various issues including MAC analysis under the Covid-19 situation. The firm performed research very carefully and provided us with very creative advice."

 

Project finance          

"The entire team is well versed in the Brazilian energy market, both from a regulatory and market perspective. Further, they have a high understanding of project financing structures, and we have been able to work on an integrated basis in servicing our mutual client. Praise for responsive and quality of documentation and drafting."

"Very pro-business, creative at solving problems, and assertive."

 

Gustavo Junqueira

"Excellent knowledge of local law, calm under pressure, works very hard to achieve necessary goals."

 

Luana Komatsu Falkenburger

"Great contract negotiator, with a deep legal knowledge in corporate law, banking and finance, and project finance."

 

Thiago Vallandro Flores

"Pro-business and creative in solving problems."

"Provides clear verbal and written advice, and commercial and practical solutions. Great knowledge of the local market."

"Very pro-business and creative in solving problems."

"Very responsible. Good understanding of clients’ attitudes towards matters, and timely."

Donelli e Abreu Sodré Advogados

Founded in 2018 in São Paulo, Donelli e Abreu Sodré Advogados is a relatively new Brazilian boutique.

 

Focusses / specialisms

The firm is active in M&A transactions on both the buyer and the seller side. Their industry experience is diverse but is especially notable in the real estate and power industries.

Lefosse

Established in 1987, Lefosse Advogados is a Brazilian full-service firm with offices in São Paulo and Rio de Janeiro.

 

Focusses / specialisms

Equity capital markets is where the firm thrives, representing both issuers and underwriters in transactions across all industries.

The banking practice area represents both borrowers and lenders in matters ranging from credit facilities to debt restructurings.

The M&A team works with strategic buyers, private equity buyers and sellers in mergers, acquisitions and joint ventures. The group has experience with both public and private M&A transactions.

The project development team represents clients on all sides in energy and infrastructure projects.

 

Key clients

Many of Lefosse’s key clients are international banks and corporations, including Marfrig, Bank of America, BBVA Securities, JPMorgan Chase, MUFG and GIC Special Investments. It also has key Brazilian clients including Petrobras, Eletronotre and Banco do Brasil.

 

Research period review: 31st edition (2020/2021)

Over the research period the firm was active across banking, capital markets, M&A and projects.

The Banking team acted as counsel to borrowers and lenders in large cross-border facilities, loans and financings. Sector strengths included tech, and fintech advice.

Capital markets work included high-profile IPO’s and follow on offerings.

The firm assisted issuers and underwrites on FII’s and FIDC’s in fund formation and offerings. Energy and real estate were particularly active sectors.  

M&A work for the firm included complex, cross-border deals, assisting a mix of buyers and sellers.

The project finance and development teams advised on large scale renewables projects. In addition it assisted in the structuring and implementation of  privatizing state owned oil and gas companies.

The firm welcomed Banking and finance partner Kenneth Antunes Ferreira from TozziniFreire. The Projects team hired partners Raphael Gomes and Pedro Dante from Demarest. Eduardo Soares left the firm and moved in house.

 

Deal highlights: 31st edition (2020/2021)

BlueMacaw Renda+ FOF FII

Companhia Energética de Brasília Privitization

KKR $2.5 billion acquisition of beauty businesses of Coty

Neon $300 million financing

New Fortress Energy $5 billion acquisition of Hygo Energy Transition

S-Velame Administração de Recursos e Participações €308 million loan

XP IPO

Machado Meyer Sendacz Opice Advogados

Machado Meyer is one of the largest firms in Brazil. Founded in 1972, the firm has grown from their head office in São Paulo to add three other offices in Brazil in Rio de Janeiro, Belo Horizonte and Brasília and one international office in New York.

 

Focusses / specialisms

In banking work the firm mostly represents lenders.

The capital markets team represents both issuers and underwriters and works on debt and equity transactions.

The M&A group represents strategic buyers, private equity firms and sellers in a variety of transactions.

The project development and finance groups represents mostly developers.

Across all practice areas the firm has a particular specialisation in the telecoms, oil and gas, financial services, energy, retail, education and mining industries.

 

Key clients

Because the firm mostly represents lenders it has strong relationships with banks, especially multinational banks, including Banco BTG Pactual, Banco Citibank, BNP Paribas, BBVA Securities, Bank of America, Barclays Capital and Crédit Agricole. It also maintains strong relationships with important state-owned Brazilian companies such as Petrobras.

 

Research period review: 31st edition (2020/2021)

During the research period the firm was active across banking, capital markets, Investment funds, M&A, private equity and projects.

The banking team advised financial institutions on innovative transactions in the fintech and renewables spaces.

Debt capital markets saw a year with growth in transactions with foreign issuers, other work included debentures and bond issuances. The equity team worked on initial public offerings, follow-on offerings and secondary offerings. 

The Investment fund team assisted in private equity investments and structuring FIDC portfolios as well as FIII’s, FIC’s and FIP-IE’s.

M&A and Private equity transactions was active in large, cross-border transactions advising buyers and sellers.

Project development and finance teams lead on work in infrastructure, renewables and sanitation. Development work included innovative public contracting.

 

Deal highlights: 31st edition (2020/2021)

CTEEP $310,00,000 debentures issuance

GDF International, Engie Brasil S.A. and Caisse de Dépôt et Placement du Québec acquisition of

TAG from Petrobras

Jacaranda Solar Project

One Innovation IPO

Patria Investimentos and GIC investment in FIP CART

Telefonica Brasil $2.9 billion acquisition of Oi’s mobile businesses

Unidas and Localiza merger

 

Client feedback: 31st edition (2020/2021)

Bank lending : Borrower side

"Clear communication and takes constructive approach."

 

Bank lending : Sponsor side

"Machado Meyer’s team is composed of extraordinary individuals, capable of advising on and designing complex structures while keeping a business-oriented mindset."

 

Banking and finance

"They are very fast and efficient in attending to our company."

 

Capital markets : Debt

"Availability. Experienced team. Knowledge of market evolutions."

Hands-on. Great knowledge about indentures and the sector. Very accessible and fast."

"The teams have extensive technical, legal and financial knowledge. In addition, they know the banks’ routines very well. There is a lot of synergy in the interactions that take place between the office and the internal legal department."

 

Capital markets : Equity

"Their team, partners and senior associates are always available. Pro-deal attitude. Very good delivery. Always on top of things."

Investment funds

"Extremely competent, organised and very knowledgeable and experienced in funding IPOs."

"Machado Meyer has an extensive experience on funds structuring, especially regarding private equity vehicles. They differentiate themselves from other firms by providing a quick and high-quality work, and are always flexible with short schedules."

"Machado Meyer provided us with relevant information and considerations about the proposed structure for our transaction and its operational impacts with regard to central bank regulation, and also helped us in drafting and reviewing the transaction documents."

"Tailor-made. Deep experience with institutional investors."

 

M&A

"I believe Dr Malouf and his team have a solid experience in highly complex transactions. In a tense negotiation room, I know I can count on Dr Malouf’s experience and advice. They are truly involved and always searching for solutions. A true advisory in my view. "

"Proactive and has deep expertise."

 

Project development

"They are very hands-on, practical and have an excellent understanding of the economic and commercial questions we are seeking advice for. They work close with my entire team, including the non-lawyers, and have managed to build great relationships of trust. They are quick and precise in their responses."

"They are technically perfect, diligent, have an important sense of urgency, always pay attention to details and serve us full time."

 

Project finance

"Pro-business and availability."

"Partners and senior attorneys are available, including to participate in meetings and drafting sessions."

 

Alberto Faro  

"Always available and willing to help in a prompt and diligent manner, and demonstrates terrific technical knowledge."

"Possesses business acumen, makes himself available to clients, and is experienced."

"They are always accessible and know a lot about the market, in addition to being used to working with us."

 

Antonio Kubli Vieira  

"Antonio is extremely responsive and quick to understand any issues we are facing. When giving advice, he is diligent and takes a far-sighted approach."

 

Bruno Racy   

"They are always accessible and know a lot about the market, in addition to being used to working with us."

 

Eduardo Castro         

"He is deeply familiar with the regulatory aspects of the central bank, which are fundamental for our company. In addition, he has innovative suggestions for solving problems."

 

Guilherme Azevedo  

"Deep knowledge. Excellent delivery. Focus on getting the deal through. Always has a friendly attitude towards the opposing party of the deal and opposing counsel – which is very rare. At the end of the day, having him in the deal makes my life easier. "

"Good availability. Experienced and a problem solver. Polite."

"Very confident and knows exactly what the client needs."

"Very responsive and fast in attending to our company’s needs."

 

Guilherme Bueno Malouf     

"Solid lawyer with years of experience. I believe his involvement with many meaningful transactions has equipped him with the resources to add value in negotiations. His solid base enables him to think of solutions in a creative manner."

 

José Alexandre Ferreira Sanches    

"Lucas Sant'Anna Gustavo Hiroshi Nakata Carolina Jaen Saad."

 

José R Prado Jr        

"Pro-business and a problem solver."

 

Luciana Costa Engelberg     

"Competent and has the right attributes to manage complex situations with regulators and other

"Full accessibility. Deep knowledge."

"In every interaction we had, Luciana was very friendly and attentive to our needs."

"Luciana is a very hard-working and committed professional. She also brings value to the table by being flexible and so able to meet deadlines and manage her priorities to meet clients’ timelines."

 

Raphael Zono

"They are always accessible and know a lot about the market, in addition to being used to working with us."

Vitor Fernandes De Araujo

"Deep technical and macro background. Business partner. Clear communication."

Mattos Filho Veiga Filho Marrey Jr & Quiroga Advogados

Established firm Mattos Filho is one of the largest in Brazil with five offices: two in São Paulo, and one in each of Campinas, Rio de Janeiro and Brasília. It also has a physical international presence with offices in London and New York.

 

Focusses / specialisms

The firm is strong across all practice areas covered by the rankings. It is a top tier transactional practice.

The banking team advises both borrowers and lenders in numerous industries, but most notably the financial services and fintech industries. The group also works on debt restructuring, credit facility agreements and project finance transactions.

The capital markets team works on debt, equity, and securities regulation transactions on both the issuer and underwriter side.

The investment fund team is notable as it is a dedicated team, regularly advising on novel issues and uses of complex funds.

The M&A team has a variety of experience working for public and private strategic buyers, private equity buyers and sellers in acquisitions, mergers and joint ventures across all industries.

The projects team works on energy and infrastructure projects, representing developers and financial sponsors.

 

Key clients

The firm maintains strong relationships with many of the world’s largest banking groups, including SoftBank, HSBC Brasil, Barclays Bank, Citigroup, Deutsche Bank, the IDB and Goldman Sachs. Other key clients include Petrobras, Klabin, Avon Group, Allianz Group, BP, Equinor and Pátria Investimentos.

 

Research period review: 31st edition (2020/2021)

Over the research period the firm was active in banking, capital markets, investment funds, M&A and projects.

Banking work was active across a broad range of sectors and included complex cross-border financing and restructuring.

Capital markets work included debt issues and cross border securitization on the debt side. In terms of Equity capital markets, the team assisted on IPO’s and follow on offerings.

When looking at its investment fund work, the firm advised on the structuring of FIP’s, FIDC, hedge funds and Brazilian ETF’s.

The M&A team worked on cross-border mergers and acquisitions. Sector wise the work covered a wide variety of areas. Private equity activity was focused on cross foreign investments and acquisitions.

Projects work included financing deals in a wide range of sectors, with areas like infrastructure and oil & gas standing out. The project finance team assisted on PPP contracts and innovative EPC contracts.

The banking team welcomed partner Pedro Eroles from FAS Advogados in January 2021. The projects team hired partner Adriano Drummond Trindade from Pinheiro Neto in December 2020.

 

Deal highlights: 31st edition (2020/2021)

CCEE R$15.29 billion financing

InterCement Brasil $910 million debenture issue

Natura acquisition of Avon

Piracica-Panorama Toll Road Public Bid

XP Private Equity I Investment Fund

XP IPO

 

Client feedback: 31st edition (2020/2021)

Banking and finance

"Mattos Filho has been able to assist us, with great technical quality, in all relevant finance and capital markets transactions. We have a good relationship with them, especially with partner Frederico Kerr Bullamah. "

"Mattos Filho helped us on complex transactions, and we were positively impressed and felt well served, so we hired them for more work. They have a lot of experience in capital markets and finance transactions."

"Technical expertise and commercial acumen."

 

Capital markets

"Mattos Filho has been able to assist us, with great technical quality, in all relevant finance and capital markets transactions. We have a good relationship with them, especially with partner Frederico Kerr Bullamah. "

"Mattos Filho helped us on complex transactions, and we were positively impressed and felt well served, so we hired them for more work. They have a lot of experience in capital markets and finance transactions."

"Integrity. Knowledge."

"Knowledge of the subject under discussion. Propose alternatives to enable operation. Efficient and easy communication."

 

Capital markets : Equity

"Agility and knowledge."

 

Investment funds: Private equity funds

Deep knowledge. Always available. Understands business."

"They are organised around funds, not capabilities, so they have a differentiated understanding of the funds market. They are hands-on and dynamic, with a youthful energy."

 

Investment funds: Real estate funds

"Mattos Filho lawyers combine deep technical knowledge of the funds industry and its regulatory environment with a practical and current market approach towards investors’ needs. The result is a risk-adjusted, market-friendly structure. In addition, Mattos Filho senior lawyers and partners who oversee projects, are fully dedicated and take a hands-on, always available approach."

 

M&A

"Deep knowledge of Brazilian capital markets, legal processes involved in an M&A in Brazil, the Brazilian financial sector and Brazil’s capital markets regulator."

"Excellent firm, with a lot of depth in terms of skilled lawyers. Very good local market expertise and a good when it comes to understanding deals generally. "

"Expertise. Organisation. Quality."

"Expertise. Quality. Responsive. Organised."

"Great client service. Handled transactional and closing work diligently."

"High-quality standards. Strong bench. Very responsive team."

"Very strong team and commitment."

 

Project development

"Engaged professionals, who are available in emergencies, present intelligent solutions, and have deep knowledge of the subject under discussion, and are flexible in the collection of legal fees."

 

Project development : Energy

"The firm provides first-class advice by any requested deadline. You can always count on them to deal emergencies and negotiations at short notice, and feel assured that they will only deliver excellent work despite affairs being highly complex."

 

Alexandre Arlota

"Alexandre Arlota is not only a legal expert, but he's also gifted with almost unequalled soft skills. He manages to smooth tense negotiations, involving the other party in the construction of innovative solutions that meet the best interests of his client and the relevant project. He's also available whenever needed, responding quickly and providing high-quality advice that exceeds expectations in terms of depth and practicality."

"Makes himself available to provide his services and is quick to complete tasks. Extensive knowledge on the subject."

 

Ana Carolina Lima Nomura

"Business savvy, deep knowledge, and always available."

"She is an excellent leader, knowledgeable yet accessible. She capably coordinates different resources in her team. She is present in all transactions and communicates very well."

 

Claudio Oksenberg

"Great transactional lawyer."

 

Flávio B Lugão

"Mr Lugão’s experience combines the two sides of the table. He has experience as a lawyer within private equity firms and law firms. He really cares about our business, always showing market examples and news that would contribute with the further development of our business."

 

Frederico Kerr Bullamah

"Frederico has a solid technical background. He is proactive in solving problems and very skilled in negotiations and always propose creative and business-oriented solutions. He is an available and hands-on partner, with excellent client care. He helps us with strategic matters and can handle complex situations. Frederico has a lot of experience in finance (including in debt capital markets, finance and structured finance, and restructuring) and debt capital markets transactions. For me, he is, without a doubt, a go-to lawyer for these types of transactions. I trust his work a lot."

"Frederico is a partner with extensive and solid experience in debt capital markets, financing and structured finance, and restructuring transactions. He has very technical knowledge and his diverse backgrounds allows him to navigate and handle transactions with excellence. He is very proactive, responsive, a good negotiator, solution-oriented and creative in solving problems. He helped us in our complex finance transactions and did a great job. We feel secure working with him."

"Frederico has a solid technical background. He is proactive in solving problems and very skilled in negotiations and always propose creative and business-oriented solutions. He is an available and hands-on partner, with excellent client care. He helps us with strategic matters and can handle complex situations. Frederico has a lot of experience in finance (including in debt capital markets, finance and structured finance, and restructuring) and debt capital markets transactions. For me, he is, without a doubt, a go-to lawyer for these types of transactions. I trust his work a lot."

"Frederico is a partner with extensive and solid experience in debt capital markets, financing and structured finance, and restructuring transactions. He has very technical knowledge and his diverse backgrounds allows him to navigate and handle transactions with excellence. He is very proactive, responsive, a good negotiator, solution-oriented and creative in solving problems. He helped us in our complex finance transactions and did a great job. We feel secure working with him."

"He is extremely accessible, fast and has depth of knowledge. I think he needs to improve and increase his team."

 

Kevin Michael Altit

"He is one of the top corporate lawyers in Brazil. If you need someone to advise you in corporate law, he is the person."

 

Marina Procknor

"Deep knowledge and understanding of the Brazilian context. Agile business understanding."

 

Moacir Zilbovicius

"Moacir Zilbovicius is a good listener and he understands our needs. He is also a great team player and capable of mobilising the firm’s resources to support the transaction we are working on. On top of that, he does well in handling the relationships with other players involved in the M&A (eg, investment banks, other law firms, etc)."

"Very senior lawyer. Good at managing the team and leading negotiations without creating noise from the counterparty."

 

Paula Vieira de Oliveira

"Provides key, creative and smart contributions. Internal coordination. Very responsive."

"We have worked together for some years, so we know a lot about each other."

"Paula is responsive, detailed oriented and easy to work with."

 

Thiago Fernandes Moreira

"Good availability, extensive knowledge, and takes a flexible approach to negotiations."

PGLaw

PGLaw was founded in 2014 and since then has become a multidisciplinary law firm specializing in corporate governance. It has a Brazilian office in São Paulo and an international office in Palo Alto. The corporate M&A practice area is led by Carlos Portugal Gouvêa.

 

Focusses / specialisms

M&A matters are a focus for the firm, who represent strategic acquirers, sellers and private equity firms. Partners work across a wide variety of industries, including technology, engineering, consumer goods, chemicals and education.

 

Key clients

Key clients include Suzano Papel e Celulose, Quest Software, Cardpay Holdings, Orion Engineered Carbons and Ormuco.

 

Research period review: 31st edition (2020/2021)

Over the research period, PGLaw advised companies on acquisition in their funding investment rounds. It worked on cross border deals and investments.

 

Deal highlights: 31st edition (2019/2020)

Francisco Partners / Elliott Management acquisition of Quest Software

 

Client feedback: 31st edition (2020/2021)

Capital markets : Equity

"Extremely qualified partners and associates, with deep understanding of Brazilian bylaws and strong interpersonal skills that deliver a great overall experience."

 

João Paulo Braune Guerra

"Very responsive, client-oriented and interested in learning about our business. "

Pinheiro Guimarães

Formed in 1922, Pinheiro Guimarães is a nationally recognised firm with offices in Rio de Janeiro and São Paulo.

 

Focusses / specialisms

The firm is highly regarded in the corporate and projects areas but is perhaps best known for its work in banking and capital markets.

In the banking area it works on debt restructurings, loan issuances and credit facilities, advising both borrowers and lenders.

The capital markets team represents both debt and equity issuers and underwriters on public offerings, tender offers, debenture issuances and bond issuances.

In the M&A practice area the firm represents strategic buyers, sellers and private equity investment firms in mergers, acquisitions and joint ventures. The team works on both public and private M&A.

The project development and finance team represent mostly developers and borrowers in energy related projects.

 

Key clients

The firm has cultivated strong relationships with banks and investment groups, which include Itaú Unibanco, Banco BTG Pactual, Banco Rabobank, Inter-American Investment Corporation, Banco do Brasil, International Finance Corporation, Banco Santander, XP Investimentos, Citigroup and the IDB.

 

Research period review: 31st edition (2020/2021)

Over the research period the banking team advised on syndicated loans, secured credit financing, and debt restructurings.

The debt capital markets team had a busy year assisting issuers, underwriters, and arrangers on debentures, notes and structured assets.

Investment fund work included mortgage-backed securities and agribusiness receivables.

The equity capital markets team worded on IPO’s. private placements, secondary offerings and follow on offerings.

In terms of M&A work the firm represented buyers and sellers in acquisitions and joint ventures. The team also advised on mergers, and many transactions were cross border in nature.

Projects work featured contract negotiation, international joint-ventures. Project finance deals included project bonds and other financing instruments for infrastructure and power projects.

Recent staffing changes saw partner Maria Costa Neves Machado leaving for Lobo de Rizzo Advogados.

 

Deal highlights: 31st edition (2020/2021)

CCEE $3 billion syndicated loan

Folha Larga 2 Holding bank credit certificate

Klabin BRL966 million CRA issue

Rede D’or IPO

Rede D’or acquisition of Perinatal

Suzano Austria $500 million bond issue

 

Client feedback: 31st edition (2020/2021)

Capital markets

"Highly specialised in Brazilian corporate law, having solid experience in capital markets and M&A transactions. They have a strong team, are very available, hands-on, and are flexible and creative in proposing solutions and negotiations. They are able to create a great environment to work as a team with their clients, always focusing and achieving good results."

 

Capital markets : Debt

"Pinheiro Guimarães’ team is very experienced, business-oriented and always available."

 

Project development

"Detail oriented. Handle short deadlines very well. Outstanding communication with the client and availability. We feel we can count on them for the most challenging projects."

 

Restructuring and insolvency

"Great knowledge of the Brazilian bankruptcy law and the commercial issues involved in workouts."

 

Bruno Lardosa

"Great knowledge of the client and its internal processes."

 

Isabela Prochet

"Outstanding engineering, procurement and construction attorney. Communicates well with the technical team and handles our challenging deadlines very well."

 

Ivie Moura Alves

"Ivie is very pragmatic, very knowledgeable in the Brazilian capital markets and has great experience."

 

Marcelo Lamy Rego

"Marcelo is very experienced and has deep knowledge of corporate law, Brazilian legislation and regulatory corporate environment. He has a broad view of the challenges and legal matters clients faces in overseas transactions. Excellent negotiator and strategist."

Pinheiro Neto Advogados

Founded in 1942, Pinheiro Neto is a full-service firm in Brazil. It has grown to three Brazilian locations: São Paulo, Rio de Janeiro and Brasília, and two international locations: Tokyo and Palo Alto. The firm takes great pride in its gender diversity initiatives.

 

Focusses / specialisms

The firm is high performing and known for its financial and corporate and projects practices.

The banking and finance team is a leading practice in financial services, banking and fintech. It represents lenders and borrowers, often on novel transactions.

Capital markets work for the firm includes debt, equity and securitization transactions, representing both issuers and underwriters.

The investment funds department provides advice on structured funds, real estate investment funds, private equity investment funds, ETF’s and receivables investment funds.

The M&A team advises buyers and sellers in strategic and public transactions and mergers.

The project finance and development team represent developers and financial sponsors in construction, energy, infrastructure, oil and gas and transport industry projects.

 

Key clients

The firm maintains strong relationships with many international banks and investment groups such as Goldman Sachs do Brasil Banco Múltiplo, JP Morgan, Banco Santander, Citibank, Bank of America Merrill Lynch and XP Investimentos. The firm other key clients include Neoenergia, CPFL Energia, Boeing and Natura.

 

Research period review: 31st edition (2020/2021)

Fintech continued to be among the most interesting areas of activity for the banking and finance team, where crypto transactions and open banking stand out. The team also advised on large syndicated loans and regulatory matters.

Debt capital markets deals included project bonds, securitization, and sovereign bond issues. The firm represented issuer sand underwriters in transactions.

Equity wise the team worked on IPO’s, follow on offerings and secondary offerings.Across these transactions, the firm represented both issuers and underwriters.

The investment fund department gave advice to quotaholders of FIP;s with stakes in IPO’s, follow on offerings of FIP shares and complex fund structuring.

Private equity work featured transactions in a variety of sectors including, technology, finance, logistics and healthcare. Most deals were cross border in nature.

The M&A team worked on large public mergers and public and private acquisitions for both buyers and sellers. The firm was active in a variety of industries including finance, retail, real estate, healthcare and energy.

The project finance and development team worked on financing matters for projects in sectors ranging from sanitation, oil and gas, power and public infrastructure.

 

Deal highlights: 31st edition (2020/2021)

Alphaville IPO

Natura acquisition $13.4 billion of Avon

Banco Cetelem Structuring of FIDC credit rights

Itaú Unibanco Holding $700 million

CCEE BRL15.2 billion syndicated loan

Notre Dame Intermédica Participações follow-on issue

Petrobras $4 billion tender offer

Ripio acquisition of Bitcoin Trade

Sao Paulo BRL1 billion bridge loan financing

Track & Field IPO

 

Client feedback: 31st edition (2020/2021)

Capital markets

"They are very knowledgeable and have significant experience."

 

Capital markets : Equity

"They are very knowledgeable and experienced. They are truly top tier throughout."

 

Investment funds

"Technical knowledge, availability, empathy with the client and a focus on results."

 

M&A

"Technical knowledge, business-oriented mindset, good reputation and availability."

"A full-service law firm ready to provide support in all areas of law, including on complex matters demanding cross-work between M&A, financing, fund structuring, tax matters and regulated sectors."

"Team is easy to communicate with and very experienced in M&A transactions. Team has a quick response time. "

"This firm has a pro-deal attitude, finding solutions to the very complex situations faced during transactions. It has solid knowledge of several corporate law areas and a strong reputation that was also a valuable asset to the deal. In addition to that, the partners were personally involved and fully committed despite a tight schedule."

 

Private equity

"Extremely experienced team. Bring key issues and potential solutions in a clear fashion to clients. Position themselves and give clear guidance to client."

"Combines contract negotiation expertise with interpersonal skills. Ability to translate US-style expectations into local practice and deal documents."

 

Project development : Energy

Knowledge of the sector and provides highly specialised services. Experience in negotiations and in litigation related to engineering, procurement and construction contracts."

 

Project development : Infrastructure

"PNA monitored the bidding process very closely and with high professionalism, making the relevant recommendations for action to make the project a success."

"Efficient. Practical advice given. Problem solvers."

 

Project finance          

"Pinheiro Neto had a key role in the development of the complex financial structure that supported our issuance (including real guarantees and collateral, and the intercreditors agreement with other lenders) and helped coordinating all participant’s efforts."

 

Alvaro Santos

"Approaches deals with a collaborative mindset, paving the way for an efficient and focused deal process. Strong ability at building and nurturing relationships. Often hired for further work by counterparties of negotiations after closing."

 

Beatriz Seixas

"Precise in her communication."

 

Caio Ferreira Silva

"Caio is very different. His technical knowledge, conciliatory attitude and his constant presence in operations makes a difference."

 

Carlos Alberto Moreira Lima Jr

           

"Carlos not only has a deep knowledge of law but also of our industry and company. He is truly team player, focused on the best result for the company. Is always available and deliver the best solutions in the shortest time needed. His reputation is also an asset for any negotiation."

 

Giuliano Colombo

"Responsive, experienced, and builds relationships easily."

 

Guilherme Sampaio Monteiro

"Experienced, knowledgeable, very responsive, creative and very familiar with cross-border matters.”

"He is extremely knowledgeable about matters regarding B3 Stock Exchange and Brazilian Securities and Exchange Commission (CVM) matters. Top tier. In addition, he is very aware of market trends and rulings of the CVM. He is very responsive and great to work with."

 

Joamir Müller Romiti Alves

"Creative. Thinks outside the box. Client-oriented. Always available. Responsive. Reliable. Experienced in complex M&As and negotiations. Great ability to communicate in English."

 

Jorge Lopes

"Top tax lawyer. Deep understanding of tax regulatory matters."

 

Julio Bueno

"Very experienced lawyer, having deep knowledge of the sector and of the engineering, procurement and construction sector’s international rules and business practices."

 

Leonardo Peres da Rocha e Silva

"Professional and agile in providing necessary feedback and responses."

 

Miguel Tornovsky

"He is responsive and knowledgeable."

 

Thais Fernandes Chebatt

"She possesses a sharp legal mind, is able to work across various time zones and communicates effectively with legal practitioners, commercial folk and technical personnel. She is first and foremost a problem solver – a useful resource for any client."

 

Thais Lorenzi Ambrosano

"Very accessible, energic and has a deep knowledge of all legal aspects."

 

Vânia Marques Ribeiro

"High knowledge of the business, client relationships and availability."

"Technical knowledge, experience in M&A transactions, easy and open communication."

Ramos & Zuanon Advogados

Ramos & Zuanon Advogados, or RZ Advogados, is Brazilian firm located in São Paulo.

 

Focusses / specialisms

The firm is best known for its work in the agribusiness industry.

In practice areas the firm is focused on corporate M&A transactions working in deals in the agribusiness, port, retail, auto and education industries. It has experience representing strategic acquirers, company shareholders and sellers.

 

Key clients

Key clients for the firm include Santander, HSBC, Deutsche bank, Novaprint and Credit suisse

 

Research period review: 31st edition (2020/2021)

Over the research period, the banking and finance team was engaged with agribusiness, mining and finance transactions. The team worked on acquisitions and securitizations, as well as CRA’s

The M&A team advised on the incorporation of fintechs, investment agreements and financings. M&A work included cross border acquisitions.

 

Deal highlights: 31st edition (2020/2021)

NPL Brasil acquisition of Banco CNH agribusiness credit portfolio

Fiagril CRA BRL$50 million issue

Trafigura export prepayment facility

 

Client feedback: 31st edition (2020/2021)

M&A

"Good teamwork. Friendly. Give all the support that we need on a process, going even further than what we need."

"The professionals of the firm who worked on the matter we brought to them were dedicated, knowledgeable and had a positive attitude towards solving the problems encountered. "

 

Project development

"Representatives of this law firm have good reputation with players in the market we operate it. Apart from their connections, they are always transparent and honest opinion regarding projects they are presented with."

 

Christian De Lima Ramos

"Christian always comes up with creative solutions for difficult situations."

 

Mauricio Jun Higashino

"He supplies good communications about issues presented to him, and is honest when bringing clients’ attention to points of risk."

"Smart, quick on his feet, knowledgeable and flexible."


 

Santos Neto Advogados

Founded in 1992, Santos Neto has developed into a notable full-service law firm. The firm boasts two offices, one in São Paulo and the other in New York.

 

Focusses / specialisms

The firm is best known for its work in the corporate and capital markets practice areas.

The banking and finance team represents borrowers and lenders in transactions related to export facilities, syndicated loans, debt restructurings and loan financings.

The capital markets team specializes in debt work, specifically CRA’s, bonds issuances and real estate credit notes, mostly representing the underwriters. The team also works with issuers.

The M&A team advises investment fund buyers and sellers in acquisitions and corporate restructurings.

The firm has developed industry expertise in agribusiness, banking and financial services.

 

Key clients

The firm has developed strong relationships with banking institutions including Rabobank, Crédit Agricole Corporate Investment Bank, Natixis, Amerra Capital Management and Banco Azteca.

 

Research period review: 31st edition (2020/2021)

Over the past research cycle the banking team primarily advised lenders in loans, syndicated loans and financings. The team also worked on sustainable loans.

The M&A team advised on cross-border agribusiness acquisitions as well as healthcare and manufacturing companies. Most deals were strategic, and the department represented both buyers and sellers.

 

Deal highlights: 31st edition (2020/2021)

AMERRA Fund acquisition of Goianésia

Elgin Group acquisition of Heatcarft

FKS Agri Food acquisition of Tietê Agroindustrial from Black River Fund

PolyOne acquisition of Clariant Masterbatch

Fleury acquisition of INLAB

Tereos $150 million syndicated sustainable loan

 

Client feedback: 30th edition (2020/2021)

Financial restructuring

"Santos Neto is very hands-on and is knowledgeable about the market. When hiring them you get a lot more than just legal advice: the firm gives you insights into the market and the country."

 

M&A

"Highly attentive. Do efficient work, with quick and prompt responses to our demands."

 

Restructuring and insolvency

"Mastery of all things related to restructuring of companies in the agricultural sector. Quick responses to all matters, even complicated ones. "

 

Domicio dos Santos Neto

"Domicio is an experienced and very proactive lawyer. He is innovative and capable of producing practical and cost-conscious solutions to complex problems."

Stocche Forbes Advogados

Stocche Forbes is highly regarded across most practice areas but is perhaps best known for its work in project finance. It operates from four locations across Brazil: São Paulo, Rio de Janeiro, Brasília and Belo Horizonte.

The banking and finance team has expertise in acquisition finance, cross border financings and credit facilities, representing mostly lenders. The capital markets team works across debt and equity transactions, for both issuers and underwriters. The team works on debentures issuances, public offerings and bond offerings. The M&A team advises investment funds, strategic buyers and sellers in funding, acquisitions and joint ventures. The team works across numerous industries, including energy, oil and gas, financial services and technology. The project development team advises many developers and financial sponsors in the finance aspects of transactions. It is active in the oil and gas, energy and infrastructure industries. 

The firm has a plethora of key clients in the banking and energy industries, including Banco Santader, Teekay Offshore Partners, Engie Brasil Energia, Syncreon Group, Pátria Investimentos, FTV Capital, Banco BTG Pactual and Banco Itaú. 

Over the research period the banking team worked on numerous cross border financings, representing mostly lenders. It also represented borrowers in credit facilities and acquisition finance agreements. The capital markets team advised issuers and underwriters on public offerings of shares and debentures. Energy, agribusiness, oil and gas, real estate and financial services were popular industries for the M&A team, which worked with investment funds, strategic buyers and sellers in acquisitions, joint ventures and funding rounds. The project development team saw many financings in the oil and gas, energy and infrastructure industries over the research cycle, where they represented many developers and lenders.

A recent staffing change saw Luiz Felipe Costa leave to join an investment firm. He was a partner in the M&A practice area.

 

Deal highlights

Eletrobras R$5 billion debentures issue

Engie and CDPQ R$34 billion acquisition of Transportadora Associada de Gás

Engie $2.45 billion financing

Syncreon $350 million debt restructuring

 

Client feedback 

Asset finance

"The firm has an excellent work-flow among its different partners and is able to provide full service but with a boutique firm feel. This is coupled with great cost-efficiency and client care."

 

Capital markets : Structured finance and securitisation

"I feel very strongly that Stocche Forbes' team is diligent and proactive in managing all aspects of our deals."

 

M&A

"High quality work, highly trained associates, business-solution driven.”

"Responsive, attentive business approach."

 

Thadeu Bretas

“Thadeu is an excellent lawyer and is always looking for ways to make the deal less burdensome for all."

 

Matheus Campos  

“Matheus is a rising star, he is really obsessed with details, at your disposal 24/7 and always thinking how to improve his service and client's position.”

 

Frederico Moura

“He is the main finance partner at the Rio offices of Stocche Forbes, he has excellent client care, and is extremely direct and transparent when discussing fees and costs. Also, he is extremely knowledgeable regarding the sector and the company's business.”

 

Andre Stocche 

“Andre is committed with strong technical knowledge and the ability to be creative when thinking of solutions.” 

TozziniFreire Advogados

Opened in 1976, TozziniFreire is large full-service Brazilian firm with offices in seven locations: two in São Paulo and branches in Rio de Janeiro, Brasília, Porto Alegre, Campinas and New York.

 

Focusses / specialisms

The banking team represents borrowers and lenders in a variety of regulatory and transactional financing types including acquisition finance, credit facilities, refinancing, syndicated loans and cross border financings.

The capital markets team deals with debt and equity matters including debentures, CRA’s, bond issuances and public offerings.

Investment fund work for the firm includes advice in private equity, recivables, venture capital, and real estate.

The M&A team represents mostly strategic buyers, but also sellers and private equity in acquisitions and joint ventures.

The project development team works mostly the infrastructure and energy industries, where they represent concessionaires

 

Key clients

Key clients for the firm include Banco Santander, Morgan Stanley, Omni Crédito Financiamento e Investimento, Femsa Comercio, China Jinjiang Environment Holding Company and Brazil’s Departamento de Estradas de Rodagem.

 

Research period review: 31st edition (2020/2021)

During the research period, the firm was active in banking, capital markets, M&A and projects.

The banking team opened a financial innovation area to focus on fintech and novel solutions. The team also advised on credit agreements and financing and structuring a crowd-lending platform. The team also advised on regulatory matters in fintech and technology.

The debt capital markets team advised clients on CRA, green bond and traditional bond issuances, while the equity capital markets team worked on share offerings.

Capital markets work included advice to clients on green bonds, debentures, and note issuances. The team also advised on IPO’s.

The investment fund team advised on the structuring and establishment hedge funds, fund formation, feeder funds and ESG funds.

The M&A team worked on acquisitions for both buyers and sellers. The team also advised on direct investments and joint ventures. Sector wise the team advised healthcare, fintech and food and beverage clients. Private equity activity included investments in a variety of sectors.

Projects wise the firm advised on PPP’s, financings, regulatory advice and project finance bonds.

In terms of lateral moves banking and finance partner Kenneth Ferreira left the firm for Lefosse Advogados in December 2020. Luiz Rafael de Vargas Maluf left in 2020 for Veirano Advogados.

 

Deal highlights

Accenture Interactive acquisition of CreativeDrive

Alume and Securitizadora R10 billion securitization

Grupo Energía Bogotá acquisition of Argo Energia Empreendimentos e Participações

Hidrovias do Brasil IPO

Sitawi crowd-lending platform structuring

 

Client feedback: 31st edition (2020/2021)

Capital markets

"Great capacity to react quickly and to understand legal issues from a business perspective."

"Highly skilled regarding Brazilian regulatory rules for IPOs. Very diligent in deadlines."

"Industry knowledge. Friendly support. Delivery capacity."

"One of the three best-known law firms in this area of law."

 

Capital markets : Structured finance and securitization

"The teams supporting us at TozziniFreireFreire have a deep understanding of the structured market in Brazil and are able to point to possible risks and to mitigate them."

 

Financial services regulatory

"Sustain updated senior personnel on the matters we have in dispute, as tax laws are very dynamic in the country."

 

Investment funds

"Clear and helpful advice. Helped us to understand and to navigate the local legal landscape. Very responsive and eager to jump on a call on short notice. "

"Deep knowledge on Brazilian agro sector and cross-border matters."

"Respond very quickly and efficiently. Pleasure to work with. Helpful and very knowledgeable around corporate law and M&A in Brazil."

"They are the best in class for the fund industry in Brazil. They are very strong in tax. I have not used their service outside of that areas."

"TozziniFreireFreire has a great team to which you can rely on at any time. They are always available to discuss the client’s needs and are extremely technically qualified to all the matters and discussions."

 

Investment funds: Private equity funds

"Deep knowledge on Brazilian agro sector and cross-border matters."

"Respond very quickly and efficiently. Pleasure to work with. Helpful and very knowledgeable around corporate law and M&A in Brazil."

"What sets this firm apart is their commercial vision of our business, projects and priorities. Their technical support is excellent and the team is very versatile."

 

M&A

"Active participation of the partners on the deal, good overview of the deal in order to anticipate issues we could have faced."

"Agility and the understanding of the key elements of the transaction when defending my firm’s interests."

"Certainly the best Brazilian firm in Brazil, and possibly Latin America. They are really cutting edge. They deal very smoothly with very complex matters. They helped us many times across our history."

"Excellence in service, with innovative solutions and speed in solving cases."

"Pragmatic and business-oriented."

"Responsive. Commitment. Deep expertise. Agility."

"Risk analysis. Due diligence. Discretion. Privacy and confidentiality. Analytical thinking. Accounting. Tax treatment. Purchase price allocation. Impact on credit. Statistics compliance clauses. Goodwill."

"The best firm in Brazil. Innovative, good value for money, focused on delivering good quality to clients, business-oriented, and the one and only that has true expertise across the alternatives’ spectrum."

"They are a cutting-edge law firm, the perfect fit for complex matters. They are a true full-service law firm with the best of quality in each area of service."

"They are the best corporate law firm in Brazil. Some of the things that make them unique are they are the only firm that actually has a practice devoted to private equity and venture capital; they value sustainability, governance and diversity as their principles (and not as a means of marketing as some of their competitors do); they are obsessed with quality and delivering their clients the best results; partners are always involved and available anytime; and our relationship partner is a real market leader."

"This firm’s lawyers are really high-end and focused on alternative investment. One thing that makes them unique is that they are accessible to smaller caps and yet provide full-service capabilities. A one-stop shop that is suitable even for smaller caps like us. They are business-oriented and risk takers, without being irresponsible and losing sight of their role as lawyers. João Busin is a real star. We go back a long time and it is impressive to see the legendary lawyer he became. They also value ESG, which is aligned with our philosophy."

"TozziniFreireFreire has been our lead counsel even before we had a footprint in Brazil. They are remarkable in terms of quality, delivery and availability, and are also very good value for money. They are among the top three Brazilian firms and are certainly top tier. They have a solid reputation on mergers and acquisitions in general, private equity, fund formation, real estate, project finance, banking, tax, litigation, compliance, environmental law, start-ups and innovation, venture capital and regulatory matters, which are the areas generally involved in our matters. They are certainly the go-to firm when it comes to dealing with complex matters, although they also excel when assisting smaller caps on simpler deals, being flexible on fees and having good awareness about what would be key to their clients, with bespoke legal advice. In addition, they are able to retain very talented professionals."

"TozziniFreireFreire is a top-tier law firm that stands out when it comes to advice on private equity and corporate M&A matters. We see them as leaders in these practices."

"We have worked with several law firms for M&A and have crossed paths with TozziniFreireFreire several times. TozziniFreireFreire is one of the largest full-service law firms in Brazil and has great expertise in M&A transactions. The lawyers working at the firm are highly qualified and the M&A practice is well consolidated and organised. They are constantly involved in the main transactions in the Brazilian market. "

 

Private equity

"By far the best firm on the ground. Very focused on quality and client focus. They are fundamentally business=oriented and value diversity. They are constantly innovating."

"It is by far the best full-service law firm in Brazil. They are very business-oriented, problem solvers and available. In addition, we usually turn do them for complex matters, as these involve higher investments from us, but, although they are not exactly cheap, they are very good value for money. The results they deliver to our firm make the investment worth every cent."

"João Busin, the firm’s client relationship partner, is a real market leader."

"Market-leading private equity practice. Technically strong, responsive and attuned to market developments."

"Pragmatism. Good attitude. Knowledge."

"They are the best corporate law firm in Brazil and the only one that has an actual practice devoted to private equity and venture capital, that is led by João Busin (who conceived the practice within the firm). They are also very focused on sustainability, diversity, innovation and governance in general. When compared to local peers they clearly standout. They are by far the leaders when it comes to complex and high-profile matters."

"They are the best firm when it comes to complex and sophisticated matters within the private equity industry. They are by far our best external counsel in Brazil. The go-to firm for private equity players."

"Timeliness on delivery. Commercial minded. Exceptional delivery. Responsiveness. Deep expertise."

"Work hand-in-hand with the client. Works to better, and ensure the safety of, the client’s interests, from negotiating, alternatives, providing solutions to closing. Bring respect and knowledge to the table."

 

Project development: Infrastructure

"TozziniFreireFreire has a team of very talented, smart and friendly lawyers who are the best on what they do. They are always very solution driven and provide the best support to their clients."

Almeida Advogados

Founded in 2001, Almeida Advogados is an M&A focused firm that has since branched into other practice areas. It operates out of five offices located in Sao Paulo, Rio de Janeiro, Brasilia, Belo Horizonte and Recife.

 

Focusses / specialisms

M&A is an important practice area for the firm. It advises local and international clients in joint ventures, buy and sale side acquisitions and mergers. Sector strengths include telecommunications, technology and construction.

 

Key clients

Key clients include Aeroméxico, Getty Images, FIS Group, Grupo Forte and Walmart.

 

Client feedback: 31st edition (2020/2021)

M&A

"Almeida Advogados have excellent communication skills, making sure we fully comprehended the complex legal aspects surrounding our case. Mr. Pedro Tinoco is available at any time, providing quick answers to our questions. Regarding the operations they did for us, both Mr. Tinoco and Mrs. Ana Carolina Rovida showed that they are experts and have full legal knowledge of all raising foreign investments."

"In addition to the excellent network of contacts in the business and financial area, Almeida Law office has professionals working in various specialties, which facilitate the achievement of objectives and results, with speed, transparency and consistency."

"They are very diligent, fast, coordinated and experienced in all kinds of business. "

"Technical competences mixed with business acumen."

Amaral Lewandowski Advogados

Founded in 2012, Amaral Lewandowski Advogados advises local and international clients in corporate and transactional matters. It is based in Sao Paulo.

 

Focusses / specialisms

The corporate and M&A group at the firm advises clients in joint ventures, mergers and cross-border acquisitions.

 

Key clients

Clients for the firm include, Centrales Hidroelectricas de Centro America, Wireless Comm Services, Brazil Energy, Salberg and Eninsa.

 

Client feedback: 31st edition (2020/2021)

Asset finance

"They are very technical, patient, ethical. They have also an excellent lawyers structure to attend to our demand in all aspects."

 

Bank lending : Lender side

"Diligence. Knowledge. Influence. Transparency. "

 

M&A

"They are great strategists and executors that provide good counselling. "

"They are very agile, capable and have a lot of knowledge in the areas in which we work with them. But most important, they have very good communication with us and are very helpful regarding all our doubts."

"They integrate legal demands direct with accounting firms and other external consultants, leading all processes until we get the final approval for all documents needed in our corporate structure. "

 

Project development

"Professional foundation processing and supervision of process."

 

Restructuring : Corporate

"Very good understanding of the different opportunities to simplify and provide the best taxation for a group of companies. Good vision on short and medium term."

Araújo e Policastro

Established in 1962, Araújo e Policastro Advogados focuses on business and litigation. The firm is a member of the Nextlaw referral network.

 

Focusses / specialisms

The M&A practice advises in cross-border transactions. It is experienced in the renewable energy, technology, and infrastructure sectors.

Araúz Advogados

Founded in 2000, Araúz Advogados has grown to eight locations across Brazil in: Curitiba, Toledo, Londrina, Maringá, São Paulo, Sinop, Cruz Alta and Itajaí. The firm is known for its corporate work, but also places an emphasis on its social impact and agribusiness work.

 

Focusses / specialisms

In transactional work the firm has a focus on corporate deals and in M&A mostly represents strategic buyers. Industries the team specialise include agribusiness, aviation, health and real estate.

 

Key clients

Key clients include C.Vale, Pluma Agroavícola, Paynow do Brasil, Master Vigilância Especializada, Helisul Táxi Aéreo, Bello Alimentos and Kepler Weber. 

Baptista Luz Advogados

Established in 2004, Baptista Luz Advogados is a growing law firm with a focus in corporate law. The firm has five offices, with locations in Sao Paulo, Florianopolis, Londrina, Porto Alegre, and Miami, Florida. 

 

Focusses / specialisms 

The firm is known for their work with venture capital and M&A. The team advises on corporate structuring, joint-ventures and operational agreements. The M&A team advises both buyers and sellers in transactions.

 

Key clients 

Key clients include, Vencofarma, Grupo Pão de Açúca, Hi Platform, Estee Lauder and Medcom.

 

Client feedback: 31st edition (2020/2021)

M&A

"They are very skilled in M&A and worked very fast to build a huge number of documents. They are very good on negotiation and helped align different interests among participants."

Bichara Advogados

Bichara Advogados was founded in 2001. The firm has five offices in Brazil, with locations in Sao Paulo, Rio de Janeiro, Brasilia, Belo Horizonte and Vitória.  

 

Focusses / specialisms 

The corporate law department is known for its work in providing day-to-day assistance, structuring investments for foreign clients to invest in Brazilian companies, debt structuring and regulatory advice. 

The firm’s capital markets work is known for its work on national and international bond issuances. 

M&A work at the firm is active in areas like joint ventures and debt acquisition and restructuring. 

The project development team is primarily focused on environmental work. The department is segmented into a variety of different focuses, including energy, telecommunication, oil and gas, and transportation infrastructure, mining and more. 

 

Key clients 

Clients include, Eldorado Brasil Celulose, Âmbar Energia, Salinor,MRS Logística and Usinas Itamarati.

Borba Simões Barbosa Bessone Cristofaro

Founded in 2018, Borba, Simões Barbosa, Bessone, Cristofaro, or BSBC is a law firm specializing in transactional work and strategic litigation. It is headquartered in Rio de Janeiro.

 

Focusses / specialisms 

The firm specializes in business deals and strategic litigation. The team advises on negotiation of partnerships, establishing joint ventures and other transactions. The team has worked on deals in mining, retail, hotel, education, entertainment and healthcare. 

 

Key clients 

Key clients for the firm include Anglo American Group, Anglo Pacific Group, Mineração Tanagra and Gustavo Simões Barbosa. 

 

Client feedback: 31st edition (2020/2021)

Project development : Mining

"They helped me to correct some agreement items and reinforced my position."

Campos Mello Advogados

Founded in 1981, Campos Mello is a full-service law firm recognized for its work in business and financial law. The firm is headquartered in Rio de Janeiro, and has offices in Sao Paolo and Brasilia. In addition, the firm has desks in Miami, New York and London through its cooperation with DLA Piper.

 

Focusses / specialisms 

The firm is active in banking, capital markets, M&A, private equity, project finance and project development.

The banking department provides legal assistance in loan agreements, credit facilities, cross-border financings and debt restructuring.

The capital markets team has advised local and international clients in issuing convertible and non-convertible debt. It is also active in equity and assisting clients in IPOs. The team advises both issuers and underwriters.

The corporate and M&A team is experienced in energy and distressed asset sectors. It is active in private equity as well as public and strategic transactions. It often works on the buy-side of transactions.

 

Key clients

Deutsche Bank, Banco Santander (Brasil), Blizzard Entertainment , Coca-cola, Hyatt Hotels, Nissan, Nestle and BASF.

Candido Martins Advogados

Brazilian boutique Candido Martins was founded in 2010 and maintains an office in São Paulo.

 

Focusses / specialisms

The firm has a focus on M&A and is active in debt capital markets work.

The banking and capital markets teams work across numerous industries including agribusiness, real estate and energy, mainly representing middle market issuers. It is active in investment funds advising clients on receivables structuring and acquisitions. Capital markets work is stronger and more focused in debt than equity. 

The M&A team advises strategic and private equity buyers and sellers on deals in industries such as agribusiness, technology, consumer goods and services and logistics.

 

Key clients

Key clients for Candido Martins comprise of Eastman Kodak Company, Companhia Nacional de Alcool, Agro Efficiency Participações, BIP Holding do Brasil,Aqua Capital and Raizen.

 

Client feedback: 31st edition (2020/2021)

Banking             

"The law firm was essential in drafting and reviewing documents, negotiating conditions and mainly for concluding the offer."

 

M&A

In addition to the competitive fees, their profound knowledge and great experience are put into practice in a very business-driven manner without leaving any relevant aspects behind. "

"Technical expertise."

Coimbra & Chaves Advogados

Coimbra & Chaves Sociedade de Advogados was established in 2011. The firm focuses on corporate clients. The firm has three offices in Brazil located in Belo Horizonte, Sao Paulo and Brasilia. The firm is a founding member of the ALAE alliance of law firms.

 

Focusses / specialisms

The M&A team at the firm advises on a wide variety of matters and services including acquisitions, sales, joint-ventures, strategic partnerships and debt equity transactions.

 

Key clients

Key clients for the firm include, Zelo Group, Super Nosso Group, Engeform Engenharia and Zelo Group.

 

Client feedback: 31st edition (2020/2021)

Banking

"Highly prepared staff at all levels, from partners to less senior members. Agility and solid support throughout the operation."

Corrêa Meyer & Nastromagario Advogados

Corrêa Meyer a Natromagario Advogados was founded in 2003. The firm is known for its professional work and innovative solutions. The firm has one location in Sao Paulo.

 

Focusses / specialisms

The corporate and M&A team at the firm is known for its work advising clients on corporate reorganizations and restructurings. The team also assists clients on establishing businesses, due diligence for mergers, spin offs and wind ups.

 

Key clients

Key clients include, EA Brazil, GTIS Partners Group, Pátria Investimentos, Hitachi Vantara Administração de Dados do Brasil and WMB COMÉRCIO ELETRÔNICO. 

De Luca Derenusson Schuttoff Advogados

Founded in 2011, De Luca, Derenusson, Schuttoff e Azevedo Advogado is a firm providing a wide variety of services, based in Sao Paulo.

 

Focusses / specialisms

The M&A group at the firm is experienced in both buyer side and seller side transactions. It assists both foreign and local clients. Areas of work include joint ventures, private equity and share acquisitions. 

Demarest Advogados

Established in 1948, Demarest is one of the largest firms in Latin America and boasts four Brazilian offices in São Paulo, Rio de Janeiro, Brasília and Campinas, as well as an international branch in New York.

The firm’s international reach stretches beyond its New York office as part of several legal networks including Lex Mundi, Interlex and Employment Law Alliance.

 

Focusses / specialisms

The firm works across financial and corporate and project development matters.

The banking team focuses in syndicated loans and debt restructuring on both the borrower and lender side.

In capital markets the firm represents both issuers and underwriters in debt and equity matters.

The M&A team has expertise in a wide variety of industries and client types. It represents strategic buyers, private equity buyers and sellers in public and private M&A transactions.

The project development team advises bidders, concessionaires and financial sponsors in projects ranging from sanitation to infrastructure to power.

 

Key clients

Key clients for the firm include Banco Santander, Moto Honda da Amazônia, Bayer, State Grid, Odebrecht, Nike, GE Transport, Aena Desarollo Internacional and Consortium Smart Luz.

 

Research period review: 31st edition (2020/2021)

The firm maintained activity in M&A, banking, capital markets and projects practice areas.

The banking team advised on an international credit facility, syndicated loans and debt restructuring.It represented borrowers and lenders. 

The capital markets team represented issuers, underwriters, and placement agents in a variety of complex transactions. Work included IPO’s and unsecured debentures. Investment fund work included from this year included CRA’s, CRI’s and real estate investment funds.

The M&A and private equity side the firm was busy in the education, agribusiness, and insurance sectors. Transactions for both buyers and sellers were complex and presented unique challenges.

Large public infrastructure projects highlighted the projects work for the firm. Other work included public lighting PPP’s and energy projects.

The banking team welcomed Helen Naves from Trench, Rossi e Watanabe in February 2020.

 

Deal highlights: 31st edition (2020/2021)

Banking

"Highly prepared staff at all levels, from partners to less senior members. Agility and solid support throughout the operation."

 

Capital markets

"Engagement. Capabilities and commitment of senior partners."

"Regulatory know-how. Capacity to propose alternative way outs of deadlocks. Client attention. Compensation negotiation (packages)."

 

Financial services regulatory

"The firms’ lawyers are experts on regulatory matters. They always answered any question promptly. Partners Fabio Tayar and Fabio Braga were always available."

 

M&A

"Very proactive with good initiatives."

 

Andoni Hernandez Bengoa  

"Very professional. Proactive taking care of the client."

 

Bruno Aurélio

"Sector expertise and strategic thinking."

 

Fabio de Almeida Braga

"Fabio is always available to quickly respond to any questions."

"Great experience, agility, readiness and easy to access."

 

Thiago Barbosa Sandim

"Competence and responsiveness."   

"Great knowledge, commitment and client-oriented. Focusses on finding solutions rather than pointing out risks."

Donelli Abreu Sodra e Martins

Founded in 2018 in São Paulo, Donelli e Abreu Sodré Advogados is a relatively new Brazilian boutique.

 

Focusses / specialisms

The firm is active in M&A transactions on both the buyer and the seller side. Their industry experience is diverse but is especially notable in the real estate and power industries.

 

Research period review: 31st edition (2020/2021)

The M&A team at the firm advised on sell side transactions over the research period. Health care stood out as an active sector.

During the research period the firm welcomed partner Suzana Camarão Cencin Castelnau from Machado Associados in November 2020.

Partner Vitor Martins left the firm in April 2020.

 

Client feedback: 31st edition (2020/2021)

 

Asset finance

 

"Even if they were not specialised in investments funds and other related areas, they had a good network of people with an immense sense of organisation and knowledge that fostered the comprehension and resolution of complex points. Additionally, the accuracy of information provided has contributed to our decision-making process in the way all guidelines have been outlined in a clear and outstanding manner."

M&A

 

"Impartiality. Clarity. Quickness in the process."

Project development

 

"Very responsive and detailed-oriented."

Restructuring

 

"Creative solutions for unique situations and challenges. Out of the box approach while maintaining highest level of professionalism and integrity. Prompt and diligent."

"Knowledge, professionalism, teamwork."

Restructuring : Corporate

 

"The personalised service of the team was essential. The partners really get involved in the day-by-day work, bringing a lot of security to the client."

"Very responsive, accurate legal information, flexible on fees, negotiation."

Restructuring and insolvency

 

"Pragmatic/commercial approach - clear explanations to clients of a complicated area of law. Efficient and timely."

 

Duarte Garcia Serra Netto & Terra Advogados

Formed in 2017, Duarte Garcia, Serra Neto e Terra Advogados is a relatively new firm, but has worked on an impressive number of deals. The firm has two locations, with offices in Sao Paulo and Brasilia.

 

Focusses / specialisms

The M&A group at the firm provides full M&A service, with expertise in corporate tax, assistance with foreign investments and cross border deals. Most of their deals are focused on the real estate and pharmaceutical industries. The team also works with venture capital clients and fintech.

The project development team at the firm specializes in public law, providing consultancy and litigation for clients participating in public bids, negotiations for public contracts, PPPs and more. Much of the work is centered on highways, subways, sanitation, energy and more.

 

Key clients

Key clients for the firm include Odebrecht, Camargo Correa, Tecnisa, Prologis and CSHG Renda Urbana.

 

Client feedback: 31st edition (2020/2021)

M&A

"DGT was instrumental in the success of the operation. The number of assets and complexity of the business was substantially greater than a simple sale and leaseback operation. The size and availability of the team of lawyers dedicated to the case was important for the achievement of the deal goals, the real estate and corporate knowledge of the lawyers involved, as well as their proactive stance, was decisive for the final outcome of the transaction and delivering value to our investors."

"Deep knowledge of real estate procedures before governmental authorities and jurisprudence about relevant matters."

 

Project development

"Experts on real estate and agreements with public institutions."

Felsberg Advogados

Felsberg Advogados was founded in 1970. It is a full-service firm and it has three locations, with offices in Sao Paulo, Rio de Janeiro and Brasilia. The firm is a member of the independent law firm networks Meritas and Legalink.

 

Focusses / specialisms

The M&A group at the firm focuses on a range of services including corporate reorganization, conversion of debt into equity, M&A transactions and joint ventures.

The project development team has worked on many innovative projects, including a bi-national power plant, planning for infrastructure projects and bids for PPPs.

The banking and finance team at the firm advises clients on the creation of facilities, revolving loans, financial restructuring and more.

The firm is well known in the market for its restructuring practice, where it advises sector leading clients in restructuring and insolvency matters.

 

Key clients

Key clients for the firm include, BNP Paribas, Grupo Moreno, Rappi, Hubster, WiBOO, Acciona Infraestrutura, BNDES, CCCC, World Bank, Renova Energia and ASAP Telecom.

 

Client feedback: 31st edition (2020/2021)

Asset finance   

"One of the top five law offices in Brazil."

 

Banking and finance

"Very knowledgeable and very responsive."

 

Financial services regulatory

"It has a complete team in several areas, which is very interesting, because some offices are limited in scope."

 

M&A

"Always have fast feedback from its lawyers, who always provide intelligent and efficient alternatives, simplifying our decision making processes."

"They are flexible, working with different sectors and sizes of companies, and always add value to governance discussions and structure discussions."

"Fast. Always available. High quality of the work."

Fraga Bekierman & Cristiano Advogados

Fraga, Bekierman & Cristiano Advogados was established in 1993. The firm works with local and international clients. It has two offices, with locations in Rio de Janeiro and Sao Paulo.

 

Focusses / specialisms

The M&A group has advised clients in a variety of industry, including energy, mining construction, shipping and tech. The team advises on private equity investments corporate reorganizations, due diligence and more.

 

Key clients

Clients for the firm include, Technogym, Beldi Group, IHI do Brasil Representações, Swire Oilfield Services and TomTom Brasil.

 

Client feedback: 31st edition (2020/2021)

M&A

“It's amazing how the firm is readily prepared to help you with any and all matters. In addition to that, there is a lot of practical and theoretical knowledge of its lawyers in relation to the cases and laws. "

"Very professional work."

Gaia Silva Gaede

Founded in 1990, Gaia Silva Gaede Advogados is a firm that stands out for its business law work. It has five locations, with offices in Sao Paulo, Rio de Janeiro, Brasilia, Curitiba and Belo Horizonte.

 

Focusses / specialisms

The M&A group works on a wide array of aspects of corporate restructuring, and has a focus on corporate governance, M&A and planning and implementation of corporate structure.

 

Key clients

Key clients for the firm include Odebrecht, Camargo Correa, Tecnisa, Prologis, CSHG Renda Urbana and Unimed-Rio Cooperativa de Trabalho Médico do Rio de Janeiro.

 

Client feedback: 31st edition (2020/2021)

M&A

"The main positive point of the office is trust. They have been working with us for many years now and we are confident that we will have the best service, within the expected deadlines and with exemplary technical quality. Even though we have been with them all these years, they are always very available and attentive and we have never had any drop in quality in the services presented, which for us is very important."

 

Project finance

"The reports are fully clear and applicable in our business. In terms of litigation they always provide us with the current scenario and the expectations for each item."

Guimarães & Vieira de Mello Advogados

Guimarães & Vieira de Mello Advogados, GVM, was founded in 2004. It has three offices in Brazil, located in Sao Paulo and Belo Horizonte and Uberlândia.  It is a member of the DRT international law firm alliance.  

 

Focusses / specialisms

The M&A team advises international and Brazilian clients on transactions. It advises both buyers and sellers in cross-border transactions. 

The investment fund practice is active in the structuring, sale and acquisition of investment funds.

 

Key clients

Key clients include ASM Participações Societárias, Brinks, Codemge and Holt Accelerator Brazil Intralot Group.

Huck Otranto Camargo Advogados

Huck Otranto Camargo was established in 1993. The firm has two offices, with a main office in Sao Paulo and an office in Brasilia.

 

Focusses / specialisms

The M&A group has experience in joint ventures, governance structure, private equity and more. The group is active in a broad array of sectors, including pharmaceutical, insurance, real estate and food and beverage.

 

Key clients

Key clients include Assupero (Grupo UNIP), Grupo Porto Seguro, Blau Farmacêutica and Brasil Norte Bebidas.

 

Client feedback: 31st edition (2020/2021)

Investment funds

"Bruno Robert is an excellent attorney who also develops great associates. This allows a client to receive great work from his associates at a lower cost, giving them a great price but also Bruno's expertise whenever needed. "

KLA Advogados

KLA Advogados was founded in 2002 and is a full-service law firm. It has two offices in Brazil, one in Sao Paulo and the other in Brasilia.

 

Focusses / specialisms

The M&A team is experienced in assisting the incorporation of companies, negotiating and structuring joint ventures and acquisitions, as well as full due diligence for clients before their acquisition or sale.

 

Key clients

Key clients for the firm include, General Mills, Mars, Dentsu Aegis Network, Banco Brasil Plural, Royal Bank of Canada, QMC Telecom and Habitaec Securitizadora.

 

Client feedback: 31st edition (2020/2021)

Capital markets

"Competent, diligent, organised."

 

M&A

"CVC/VC knowledge."

"Extremely helpful, always responding in a timely manner, comprehensive team able to advise in many different areas and excellent service."

"Great expertise, responsive, accessible, understand our business and needs and good value for money."

"The law firm is full of energetic and young people. They are very business-oriented and attentive to details. Luiz Filipe Aranha is an excellent lawyer, having the ability to deal with complex transactions. "

"They are very responsive and through their different partners, provided different views on complicated subjects, allowing us to better understand the risks involved."

"They can support me in different areas of the M&A proceedings."

"Very fair cost structure; rapid responses; experienced team."

Lacaz Martins Pereira Neto Gurevich & Schoueri

Lacaz Martins, Pereira Neto, Gurevich e Schoueri Advogados was founded in 1992. It has three locations in Brazil, with offices in Sao Paulo, Ro de Janeiro, and Brasilia.

 

Focusses / specialisms

The firm has a special focus in structured transactions in real estate. Its real estate investment fund work sees the firm performing at a high level.

 

Key clients

Some clients include Credit Suisse, VBI Real Estate, Rio Bravo, BRL Trust and VBI Real Estate.

Lobo de Rizzo Advogados

Lobo De Rizzo is a full-service law firm that was founded in 2007. The firm has two offices in Brazil, with locations in Rio de Janeiro and Sao Paulo.

 

Focusses / specialisms

The banking team works with local and foreign companies, financial institutions, investment funds and development agencies. The group works on structures transactions, international securities, and helps clients guarantee instruments and prepare agreements.

The debt capital markets work for the firm is very active in the infrastructure sector. It assists clients in a variety of industries on the issuance of debentures.

The equity capital markets work from the team has experience assisting IPOs and follow-ons.

The M&A team at the firm assists local and international clients on sale side and buy side transactions. The group is experienced assisting companies engaged in high-profile, industry leading deals.

The projects team advises on a wide variety of sectors including infrastructure, energy and oil and gas. The firm has a public law practice that has worked on modelling of infrastructure projects and looking at regulatory issues in regulated sectors.

 

Key clients

Key clients for the firm include, Odebracht, BNDES, Banco do Brasil, Bank of America Merrill Lynch, Itaú BBA, Afya and BK Brasil Operação e Assessoria a Restaurantes and XP Investimentos.

 

Client feedback: 31st edition (2020/2021)

Capital markets: Equity

"Readily available every time we needed. Very objective and practical advice. Well prepared team, led by Paula Magalhães."

Machado Associados

Machado Associados was established in 1990 and specializes in corporate law services for local and international clients. In 2019, the firm merged CHBS – Cipullo, Harada, Bezerra e Santos. The firm is also part of two international networks, LATAXNET and WTS Global. The firm has three locations in Brazil, with offices in Sao Paulo, Rio de Janeiro and Brasilia.

 

Focusses / specialisms

The M&A group is segmented into four unique teams: a corporate structuring and restructuring team, non-transactional corporate advice, M&A and contracts. The group can structure entire transactions.

The projects group acts as a strategic consultant for clients, implementing and managing projects, operations and enterprises. The team advises local and international companies, where they assist in public bidding, public private partnerships, authorizations and more. The firm is strong in infrastructure and energy sectors, as well as oil and gas, logistics and technology.

 

Key clients

Key clients for the firm include, CCR Group, Capital Realty, Superior Energy Services, OLX, Directweb and Exceda.

 

Client feedback: 31st edition (2020/2021)

M&A

"Fast. Always available. High quality of the work."

"They understand the client’s sector and they make huge efforts to understand a client’s needs and offer the best legal solutions for every matter."

"The firm has a highly specialised team, that allows them to offer a personalised guidance to meet their clients’ needs and goals, whether in a current or long-term basis. "

"They give full support in all necessary areas to provide a full service in M&A."

"They have a complete vision of all the impacts and consequences of transaction."

"You are assisted by a senior lawyer, so you have expertise and experience on your project. They are very accessible. "

"Very solid M&A and international tax background."

 

PPP/PFI

"Great legal knowledge and valuable experience in structuring and negotiating complex contracts and amendments to them."

Madrona Advogados

Madrona Advogados was founded in 2015, it assists national and foreign clients in a variety of sectors. The firm is made up of over 110 experienced professionals. The firm has two locations, with offices in Sao Paulo and Brasilia. The firm does not have international locations but is a member of the legal network Interact law.

 

Focusses / specialisms

The banking and finance team advises on credit facilities, refinancing and other financing transactions.

The capital markets work at the firm assists issuers, underwriters and investors on capital markets transactions at all levels of asset capital structures. The team assists on the issuance of debentures, bonds, promissory notes, commercial papers and incorporations.

The M&A team offers assistance on general corporate and mergers and acquisitions on local and cross border deals. The group also advises on joint ventures, leveraged buyouts and both buyers and sellers in transactions.

The projects team at the firm has a depth of experience in advising government in modelling PPPs. the team also assists clients in bidding process for project development. The team works with clients in a variety sectors including energy, infrastructure and construction.

 

Key clients

Key clients for the firm include, Merck, Vale, Inter-American Development Bank, Cyrela Brazil Realty and Credit Suisse Hedging.

 

Client feedback: 31st edition (2020/2021)

Capital markets: Debt

"Flexibility and deep involvement."

 

Project development: Energy

"Madrona Advogados is highly specialised, delivering deep analysis of the power sector, in a timely manner."

Mattos Engelberg Advogados

Mattos Engelberg Echenique Advogados is a multidisciplinary law firm that works with a wide variety of clients. The firm has three offices in Brazil, with offices in Sao Paulo, Ribeirão Preto and Rio Brilhante. The firm also has an international presence with a strategic partnership with Penningtons Manches Cooper. 

 

Focusses / specialisms 

The M&A group at the firm is most active in mid-market transactions, corporate reorganizations and structuring joint ventures. The firm advises local and international clients in a variety of sectors, including agriculture, tech, life sciences, telecom and energy. 

 

Key clients 

Key clients include, Bunge Alimentos, BIT4B, On Time Express Logística e Transportes, State Grid Brazil Power Participações and UP Groupe. 

 

Client feedback: 31st edition (2020/2021)

M&A

"Disponible. Loyal. Anticipate problems. Resolve conflicts. Produce tailor-made solutions, when compared with other big law firms."

"High expertise in agribusiness and M&A."

"Technical and pharma field background. Good availability. Proactive approach. Fair fees."

"They are a thoughtful partner, but also very diligent in contracts."

Melcheds Advogados

Melcheds Advogados – Mello e Rached Advogados was founded in 2008. The firm has one office in Sao Paulo. 

 

Focusses / specialisms 

The M&A team at the firm in known for their work in the healthcare sector as well as renewable energy and oil and gas. The team advises buyers and sellers in transactions, assisting on foreign transactions, majority stakes and incorporation of joint ventures. 

The project development group is strongest in the energy sector, working on several notable renewable energy deals. 

 

Key clients 

Key clients for the firm include New Energies Investimentos e Participações, Sungrow Projetos, Steelcons Empreiteira Construção Civil and UBS Bank.

 

Client feedback: 31st edition (2020/2021)

M&A

"Melcheds is an extremely professional law firm, with cutting-edge lawyers that are more interested in providing great legal/business solutions to its clients, rather than interested in spending time with minor legal points that are irrelevant to deals. Melcheds is also available and at a great cost."

"They are fast and close to us, every time I asked for their help, they answered me asap."

"Very knowledgeable and practical in its advice. Attorneys also speak and write English very well. "

Monteiro Rusu Cameirão Bercht Advogados

Headquartered in Sao Paulo, Monteiro Rusu Cameirão Bercht Advogados was founded in 2016. It has a focus on financial transactional and commercial law.

 

Focusses / specialisms 

The banking practice assists banks, financial institutions and other entities in borrowing and lending transactions, as well as regulatory issues.

The capital markets department structures complex transactions, assisting clients in public issue of debt, agribusiness and real estate receivables. It advises issuers and underwriters in a wide range of transactions.

 

Key clients

Key clients for the firm include, Banco Itaú BBA, Banco Santander Brasil, BB Banco de Investimento, Cerradinho Açúcar Etanol e Energia and Bradesco BBI.

 

Client feedback: 31st edition (2020/2021)

Bank lending: Borrower side

"Agile in providing solutions in many steps of the deal."

Moura Tavares Figueiredo Moreira & Campos Advogados

Moura Tavares, Figueiredo, Moreira e Campos Advogados was founded in 1986. The firm has four locations, with offices in Belo Horizonte, Sao Paulo, Rio de Janeiro and Brasilia. The firm advises clients in sectors like automotive, construction, healthcare, insurance, and pharmaceuticals.

 

Focusses / specialisms

The banking and finance practice has a strong borrower client base, but also works with lenders. The team advises on consultation, managing liabilities and planning.

The dedicated corporate and M&A practice for the firm is in Sao Paulo. The team advises on transactions and provides advice on a wide range of matters.

 

Key clients

Clients for the firm include, Paranasa Engenharia e Comercio, Grupo Brasa and Novus Engenharia.

 

Client feedback: 31st edition (2020/2021)

M&A

"They provide different perspectives from the ones initially we think about."

Novotny Advogados

Novotny Advogados was founded in 2018. The firm has two locations, with offices in Rio de Janeiro and Sao Paulo. The corporate and M&A team is led by Partners Paulo Penna and Gabriel Rios Corrêa.

 

Focusses / specialisms

The corporate and M&A team assists local and international companies on sale-side and buy-side M&A, private equity transactions in a broad range of sectors. The team works best on complex mid-market deals where it provides comprehensive support.

 

Key clients

Key clients for the firm include Brookfield Properties, Zee Dog and Linka Invest.                                                                                                                                       

 

Client feedback: 31st edition (2020/2021)

M&A

"Excellence in M&A deals, fast response, new ideas, consistent knowledge and understanding of the transaction as a whole."

"Knowledge and objectivity with a commitment to meet deadlines."

"They have experience, networking and are agile. "

Padis Mattar Advogados

Padis Mattar Advogados, formerly Padis Advogados until the addition of partner Eduardo Mattar in 2020, was founded in 2018. It is a boutique law firm located in Sao Paulo.

 

Focusses / specialisms

M&A is the primary focus of the firm, where it advises on complex mergers and cross border acquisitions. It is particularly active in private equity, structured finance and financial services transactions.

 

Key clients

Notable clients for the firm include Oaktree Capital, Latache Capital, Blackrock and Lone Star Funds.

 

 

Client feedback: 31st edition (2020/2021)

Capital markets

"Exceptional legal knowledge and strategic reasoning, dedication and punctuality regarding deadlines. Presented creative solutions to problems that arose during the work."

 

M&A

"Creativity, flexibility, availability, and senior partners provide direct involvement."

 

Restructuring

"Very sophisticated and shows financial market skills."

Rayes & Fagundes Advogados

Founded in 1998, Rayes & Fagundes Advogados Associados advises on a wide range of corporate services. It is based in Sao Paulo, and has offices in Rio de Janeiro, Belo Horizonte, Campinas and Sao Bernardo do Campo.

 

Focusses / specialisms

The M&A team advises on complex cross-border transactions. It advises both buyers and sellers, often assisting foreign investors seeking to invest in Brazil. Sectors the firm is active in include IT, energy, manufacturing and healthcare.

 

Key clients

Notable clients include IBM Brasil, Nokia Group, Coca-Cola Group, DSS, Banco Indusval & Partners, Thomson Reuters Group and Pacific Hydro Group.

 

Client feedback: 31st edition (2020/2021)

Capital markets : Structured finance and securitization

"Pragmatic and business-oriented with deep technical expertise."

 

M&A

"Very methodical."

 

Project development

"Always immediately prompt answers to our needs."

SABZ Advogados

Established in 2006, SABZ Advogados is a business focused law firm. It is located in Sao Paulo.

 

Focusses / specialisms

The M&A team at the firm has expert skills at assisting on distressed deals for companies under judicial recovery process and financial stress. Services the team provides include M&A, corporate due diligence, incorporation and advisory for private and publicly held companies.

 

The project development team is experiences in deals involving the public and private sectors. The team drafts contracts for infrastructure projects that are complex.

 

Key clients

Clients for the firm include Construtora Itajaíc, Hemisfério Sul Investimentos, Novo Entreposto São Paulo and Nelson Nogueira Pinheiro.

 

Client feedback: 31st edition (2020/2021)

Project development: Energy

"Affordable. It is possible to work with them, even though we are a small company. They clearly understood our problem and suggest different alternatives to finalise the contract."

Silveiro Advogados

Silveiro Advogados was founded in 1956. The firm has two locations, with offices in Porto Alegre and  Sao Paulo. The firm is well recognized for its history in Rio Grande do Sul.

 

Focusses / specialisms

The M&A group at the firm is well known for its work on cross-border M&A and private equity transactions. The department consists of a strong group of partners, with broad experience in commercial, corporate and financial law.

 

Key clients

Key clients for the firm include, Zion Capital, KWITKO, Recrusul and IESDE Brasil.

 

Client feedback: 31st edition (2020/2021)

M&A

"Good understanding of my business and the scenario. Good availability from their lawyer."

Sion Advogados

Sion Advogados has three locations, with offices in Sao Paulo, Belo Horizonte and Rio de Janeiro.

 

Focusses / specialisms

The firm advises on and provides a variety of services including M&A, corporate consultancy, project development and project financing. The firm is specialized in mining, energy, steel, forestry, oil and gas and construction.

 

Key clients

Notable clients for the firm include BHP Billiton, Equatorial Energia Group, IDB, Whirlpool, State Grid and Mineração Jundu.

Siqueira Castro - Advogados

SiqueiraCastro was established in 1948 as a business law firm. The firm now has over 80 partners in 18 offices spread over Brazil, with offices in Sao Paolo, Rio de Janeiro, Brasilia and more. The firm is a member of ADVOC, a global network of independent law firms.

 

Focusses / specialisms

The banking and finance group is recognized in the market for its work on complex projects that they solve with innovative solutions. The team has expertise in assisting on drafting loan agreements, analyzing securitization processes, drafting financial agreements and more.

The M&A team at the firm is known for supporting clients in buy side and sale side transactions. The group also assists clients on corporate restructuring. The team has experience developing special purpose vehicles and spin offs and handling complex transactions.

 

Key clients

Key clients of the firm include Banco Banif Portugal, Samsung, Esmaltec, Duratex, HSBC and Avianca Brasil.

Souza Mello & Torres

Souza Mello e Torres was founded in 2018. The firm is well known for its transactional work. The firm has two offices, with locations in Sao Paulo and Rio de Janeiro. It is a member of a world-wide alliance with Allen & Overy and HSF.

 

Focusses / specialisms

The capital markets team assists clients in private placements, tender offers, and securitization transactions. In addition, it assists clients in debt and equity instruments,advising on financing of local and international markets.

The firm handles investment fund work as well, assisting clients in the structuring and offering of securities. It is most active in real estate receivables.

M&A advice from the firm includes the structuring and negotiation of mergers, acquisitions and joint ventures. The firm is active within private equity and advised both buyers and sellers.

The project development department advises infrastructure projects at all stages, including the drafting of contracts for regulatory requirements and construction and maintenance. The team assists in PPPs and concession bidding.

 

Key clients

Key clients for the firm include, BNP Paribas, GDM Genética do Brasil, Casino Group, Cury Construtora e Incorporadora, Konecta Group, Finnvera and BBM LOGÍSTICA.

 

Client feedback: 31st edition (2020/2021)

Capital markets

"The major theme in Souza Mello e Torres is the presence of one of its main partners, Vitor Arantes, in every capital market transaction. Despite being a young partner, Vitor is an extremely dedicated and detailed lawyer, more than able to give the comfort needed in a transaction. Vitor is skilful in various segments of law, which facilitates and helps in a complex deal in the capital market."

"Vitor Arantes and his team, especially Marcela Rivellino Lourenzo, are hands-on, committed and up-to-date professionals. They are very active in our sector and know the best choices to conduct capital markets deals in investment fund. For sure, they are my first choice to support our growth during the coming years."

 

M&A

"Partners are pragmatic and responsive. They have a lot of experience and are not shy to anticipate and focus on the real issues - and push for a speedy and successful signing and closing."

"SMT team is able to act with great agility and precision. Besides, the M&A team has deep market insight regarding venture capital deals. "

"The firm's partner and senior associates are proactive and available. The firm is flexible with regards to extensions in initial workloads and is client-friendly in this sense."

 

Project development

"Partners are pragmatic and responsive. They have a lot of experience and are not shy to anticipate and focus on the real issues - and push for a speedy and successful signing and closing."

"Practical and agile."

Stocche Forbes Padis Filizzola Clapis Passaro Meyer & Refinetti

Stocche Forbes is highly regarded across most practice areas but is perhaps best known for its work in project finance. It operates from four locations across Brazil: São Paulo, Rio de Janeiro, Brasília and Belo Horizonte.

 

Focusses / specialisms

The banking and finance team has expertise in acquisition finance, cross border financings and credit facilities, representing mostly lenders.

The capital markets team works across debt and equity transactions, for both issuers and underwriters. The team works on debentures issuances, public offerings and bond offerings.

The investment fund department advises on real estate funds, recieveables funds, and infrastructure funds.

The M&A team advises investment funds, strategic buyers and sellers in funding, acquisitions and joint ventures. The team works across numerous industries, including energy, oil and gas, financial services and technology.

The project development team advises many developers and financial sponsors in the finance aspects of transactions. It is active in the oil and gas, energy and infrastructure industries.

 

Key clients

The firm has a plethora of key clients in the banking and energy industries, including Banco Santader, Teekay Offshore Partners, Engie Brasil Energia, Syncreon Group, Pátria Investimentos, FTV Capital, Banco BTG Pactual and Banco Itaú.

 

Research period review: 31st edition (2020/2021)

During the research period, the banking team worked on cross border syndicated credit facilities. It also advised financings and loan agreements.

The capital markets team advised issuers and underwriters on public offerings of shares, IPO’s and debentures. The team also worked on securitization in agribusiness. 

The investment fund department worked on private equity funds, receivable funds, real estate funds and infrastructure fund structuring, acquisition and investing

The M&A team advised buyers and sellers in mergers, public acquisitions, and strategic acquisitions. The work was in a wide range of sectors including private equity, finance, oil and gas and fintech.

The project development team saw financings like project bonds and cross border lending on shipping, gas, power, renewables and infrastructure projects.

 

 

Deal highlights: 31st edition (2020/2021)

All4Labels Holding Brasil €445 million syndicated credit facility

Aeris Energy IPO

Delta FIDC fund

Nordex €1.2 million credit facility

XP Crédito Imobiliário - Fundo de Investimento Imobiliário BRL450 million bond issue

Concessionária de Rodovias Piracicaba – Panorama BRL1 billion bond issue

NCF Participações  BRL3 billion bond issue

 

Client feedback: 31st edition (2020/2021)

Bank lending : Borrower side

"Very good knowledge on related laws and are experienced in this type of transaction. Prompt responses."

 

Bank lending : Lender side

"Very responsive, and provide detailed practical advice."

 

Capital markets : Debt          

"The team have extensive experience in capital markets, is very collaborative, have great delivery and are always available. "

 

Financial restructuring

"Super responsive, very clear advice, always available and very commercial. "

 

M&A

"All firm members are hands-on, regardless of seniority, with very effective and personalised advice and solutions."

"Creative solutions to solving problems Solid negotiation skills. Solid experience in conducting M&As in Brazil and abroad."

"Focused practical approach and give quick responses."

"Quality of advice. Commitment. Readiness to help. Senior partner involvement."

"The firm provides a unique service in the M&A area, having highly qualified lawyers that have deep knowledge and experience in M&A transactions. Additionally, the firm stands out by having business-oriented lawyers, who truly understand our business model and are able to discuss technical issues that most firms do not understand. Finally, I am constantly impressed by the firm’s responsiveness both during M&A transactions and for our day-to-day legal needs."

 

Private equity

"Business orientation, responsive, and technical knowledge."

 

Project finance

"The partners and senior attorneys are always available and willing to help. Great technical knowledge."

 

André Mestriner

"High-quality advice and technical knowledge. Negotiation skills. Availability."

 

Frederico Moura

"Great management of client affairs and very personalised services. "

"An outstanding negotiator of complex contracts, who has a deep and business-friendly knowledge of the law and regulations. He has the unique characteristic of being able to accommodate the relevant interests and needs of his clients and their counterparties in an amicable and technical manner."

 

Guilherme Gaspari Coelho

"Super responsive and always available. Gives clear, commercial advice."

 

Ingrid Thomas Hessling

"Great delivery and always available."

 

Matheus Campos

"Matheus is certainly a rising star in the field. "

 

Rafael Helou Bresciani

"Very good knowledge of this type of transaction. Proactive approach. Prompt replies."

"Very responsive."

 

Rafael de Almeida Rosa Andrade

"Rafael is the one of the most competent lawyers I have ever worked with. He has tonnes of experience in his area, in Brazil and abroad, the best negotiation skills that really help the parties reach an agreement when it comes to strategic or sensitive issues, and always has a solution to propose.”

"Rafael has a very solid legal knowledge and deep understanding of our business, making him the ideal counsel to our M&A transactions. Additionally, he is extremely responsive and available."

Tauil & Chequer Advogados - Mayer Brown

Tauil & Chequer Advogados - Mayer Brown was founded in 1992. The firm entered into an association agreement with Mayer Brown in 2009. It is a full-service firm that offers advice to national and international clients. The firm operates out of four locations in Brazil, with offices in Brasilia, Rio De Janeiro, Sao Paulo and Vitoria. The firm’s association with Mayer Brown allow the firm to provide a global reach for its clients.

 

Focusses / specialisms

The capital markets and securitization practice at the firm has experience providing advice to a wide range of sectors, including infrastructure, energy, logistics, retail and food and finance. The firm is known for its capital markets and financial transaction work, including complex securities offerings, IPOs, CRIs, tender offers, follow-ons and debt issuances.

The M&A team at the firm assists local and international client by providing novel solutions and innovative strategies. The firm represents investment banks, private equity and financial institutions in a wide array of industries.

The project development group at the firm is best known for large-scale infrastructure projects including road, rails and ports, as well as power plants and renewable energy. The team is experienced in PPPs, public concessions and contract preparation.

The project finance team works with major financial institutions in the international and Brazilian markets. The team works with clients through the full cycle of major projects. The firm uses its capital markets and debt restructuring services for large infrastructure financing and cross border financing.

 

Key clients

Key clients for the firm include CCR, Ecorodovias, CPFL Energia, Bank of America Merrill Lynch, Dow Chemical, General Electric, Vale, Brookfield and Santander.

 

Client feedback: 31st edition (2020/2021)

M&A

"Business and legal knowledge, and customer interaction."

"They were key in providing legal advisory in structuring the deal, with significant contributions to tax and corporate finance matters. "

"Top talent. Large, fully fledged and yet agile."

Trench Rossi & Watanabe Advogados

Trench Rossi Watanabe was established in 1959. The firm has offices in Sao Paulo, Rio de Janeiro, Brasilia and Porto Alegre. The firm is also a strategic cooperative partner with Baker Mckenzie, allowing it to have a global network.

 

Focusses / specialisms

Banking and finance work for the firm includes acting for both lenders and borrowers in banking regulatory work. The team works with local and international clients on banking transactions, derivatives work and credit facilities.

The debt capital markets team for the firm advises clients in setting up structured investment funds, as well as real estate funds and private equity funds. The team also supports clients in structuring and implementing securities issuances.

The equity capital markets team supports on IPOs for Brazilian companies, as well as public offerings, private placements and organizing and licensing intermediaries of capital markers with authorities.

The M&A team at the firm is recognized in the market for its work in complex transactions for local and international clients. The team advises buy side and sale side deals and has handled numerous high-profile transactions

The firm’s project development team is known for its experience in power, oil and gas and infrastructure. The team has a wealth of experience in complicated governmental projects including PPPs and public concessions.

 

Key clients

Key clients for the firm include Macquarie Bank, Kraton Corporation, Centauro, Weatherford International, Goldman Sachs do Brasil and Estácio Participações.

 

Client feedback: 31st edition (2020/2021)

Banking and finance

"The partners are always available to speak with you, they are knowledgeable and willing to talk business strategy. Top-notch business-oriented analysis."

 

Capital markets

"Trench Rossi Watanabe is equipped with a team of very experienced, skilled and fully dedicated professionals."

 

Capital markets: Equity

"Deep knowledge of the corporate law in Brazil. They work as partners for the company and not as a supplier."

"The TRW team was extremely user-friendly, and gave targeted, easy-to-digest advice to a new entrant to the Brazilian capital markets. We have found them to be extremely proficient across the board. Everyone in the team is a pleasure to work with. The team's approach to billing is refreshingly open and honest without being overly granular, providing good value for money for such high-quality advice. The team's knowledge of the US capital markets helped make the advice re the Brazilian markets more user-friendly to a new entrant. Despite the challenges of remote working imposed by Covid, the whole team were just as responsive and targeted as if they had been in the office - I didn't notice the difference. "

 

M&A

"All members of the team are well rounded and extremely skilled in matters related to corporate and insurance-related legal matters and contribute in a unique fashion to take the best advantage from each aspect of the negotiation."

"Knowledge. Availability. Experience."

 

Project development: Energy

"Trench Rossi is well known for its experience in the energy sector. The partner Jose Roberto Martins and senior lawyer Adam Milgrom are qualified professionals with deep knowledge in the energy sector. The lawyers working at the firm are highly qualified and the project development and energy practices are well consolidated and organised. They are constantly involved in the main transactions in the Brazilian energy market. "

Ulhôa Canto Rezende & Guerra Advogados

Ulhôa Canto Advogados is a business law firm founded in 1959. It is present in two locations: Rio de Janeiro and São Paulo. 

 

Focusses/specialisms

The firm has expertise in mergers, acquisitions and financing rounds. It represents strategic buyers and sellers across numerous industries including automotive, consumer goods and services, real estate and financial services.

 

Key clients

Key clients for the firm include BRF, Tupy, Vordere and Weel BSD Fomento Mercantil.

 

Research period review: 30th edition (2019/2020)

Over the research period the firm advised strategic buyers and sellers in acquisitions and mergers. The team also represented start-ups in their financing rounds. These transactions spanned industries including fintech, real estate, auto and technology.

 

Deal highlights: 30th edition (2019/2020)

BRF R / Marfrig Global Foods merger

MarketUp Series A financing

Tupy €210 million acquisition of Fiat Chrysler cast iron components business

Vaz Buranello Shingaki & Oioli Advogados

VBSO was founded in 2009. The firm specializes in banking and capital markets law, corporate law, and agribusiness. The firm has an office in Sao Paulo.

 

Focusses / specialisms

The banking team is experienced in advising clients on regulatory matters, debt restructuring and loans.

The capital markets team has solid experience in debt transactions and instruments. The team is known for its work for clients in the agribusiness sector. Services include public and private issuances of promissory notes, debentures, securitization operations and agricultural business receivable certificates.

M&A work at the firm is focused on M&A, joint ventures and corporate transactions. The team advises on project organization and contract drafting. The team advises on sale side and buy side transactions.

The project finance team advises on debt restructuring and debt issues for infrastructure, energy and public transit projects.

 

Key clients

Key clients for the firm include Banco Itaú, Bank of America Merril Lynch Rabbot Serviços de Tecnologia, Itaú Unibanco and Riopar Participações.

 

Client feedback: 31st edition (2020/2021)

Capital markets: debt

"A highly qualified team, with a balanced approach both with the client and lead arrangers, and counting on the close participation of the senior partners."

VBD Advogados

VBD Advogados was founded in 2017. A key partner in terms of the firm’s corporate and M&A work is Partner Rafael Cury Bicalho. The firm has an office in Sao Paulo.

 

Focusses / specialisms

The M&A practice at the firm assists clients in a variety of sectors, including telecom, banking, retail, construction and logistics. Services include contract negotiation, due diligence, structuring and incorporating companies and asset transfer.

 

Key clients

Key clients include, Bioenergética Vale do Paracatu, Decolar.com, Concourse Telecomunicações Brasil and Sumerbol Supermercado.

 

Client feedback: 31st edition (2020/2021)

M&A

"They provided me with personalised and dedicated partner support during the course of the litigation for over a year."

Veirano Advogados

Veirano Advogados was founded in 1972. The firm has a focus on business law and advises multinational companies in a variety of sectors. The firm has four offices in Brazil, located in Rio de Janeiro, Sao Paulo, Porto Alegre and Brasilia. The is a member of several international legal groups including World Services Group, Lus Laboris, IsFin and GALA.

 

Focusses / specialisms

The banking and finance team advises on national and cross-border transactions. The firm has experience with secured credit facilities, mezzanine financing, structured receivables arrangements and acquisition finance.

The capital markets team at the firm represents clients in mining, oil and gas, agribusiness, telecom and energy sectors. The team represents issuers, fund managers, hedge funds and other investors in transactions.

The M&A practice is recognized for advising on high-profile transactions. The team advises on sell side, buy side, joint ventures, private equity and other types of deals. Sector wise, the firm has expertise in mining, infrastructure, electricity, agribusiness, telecom and more.

The projects group at the firm advises on all phases of project development, including financing, corporate and regulatory assistance. The practice assists industries like oil and gas, roads, logistics and infrastructure.

The restructuring and insolvency practice at the firm is known for representing national and international banks, debenture holders and investors.

 

Key clients

Key clients for the firm include Ambev, Bradesco, JPMorgan Chase Bank, Claro, BASF, Lundin Mining Corporation, Itaú BBA, Ternium Brasil, Siemens and Shell.

 

Client feedback: 31st edition (2020/2021)

Capital markets

"Available and provides competent technical support and strategic advisory."

 

M&A

"Full availability 24-7. Very strong commercial approach that crystalises in easy and fast agreements. High technical skills and strong knowledge of local regulation. We feel very comfortable working with all of this firms’ lawyers: very kind and polite."

"They have senior lawyers who are always mindful of the client’s main concerns."

"Business-oriented and with a strong regulatory footprint in regulated sectors, such as power. "

 

Project development

"Qualified and detailed legal opinions and dedicated support."

 

Project development: Energy

"Veirano has a group of well-rounded professionals who are up-to-date with the most recent legislation and always bring a business angle to the table."

Vella Pugliese Buosi Guidoni

Vella Pugliese Buosi e Guidoni Advogados was founded in 2005. It is a full-service firm with  two offices in Brazil,  in Sao Paulo and Brasilia. The firm is part of a strategic alliance with Dentons, offering the firm a global reach and access to international expertise.

 

Focusses / specialisms

The banking and finance team at the firm advises local and international clients on financial transaction structuring. Services the firm provides include financial system regulatory advisory, private banking and wealth management and privatizations and infrastructure investments.

The capital markets practice advises on debt issues, promissory note issues and securitizations.

The M&A team at the firm provides its services to buyers and sellers in a variety of sectors, including private equity funds, energy, oil and gas, finance, media and prominent publicly held companies, both national and international.

The projects team focuses on domestic and cross-border financing in airports, highways, railroads, oil and gas, power and more. The team advises on infrastructure PPPs, as well as infrastructure financing and funds.

 

Key clients

Key clients for the firm include Barclays, Banco Santander, Bain Capital, BTG Pactual, PayPal, Morgan Stanley Toronto Stock Exchange, Terna, Roku, Naturgy and UBS.

 

Client feedback: 31st edition (2020/2021)

M&A

"The team is very hands-on, and we can count on quality time, from the senior partner to the more junior lawyers. The senior partner (in this case Frederico Buosi) and the senior associate (Jorge Kou) are very skilled in business and management and this characteristic provides very valuable insights and a solid rationale for their recommendations. "

 

Restructuring: Corporate

"Fast response. Commitment. Know-how. Legal knowledge."

Viseu Advogados

Founded in 1994, Viseu Advogados is a full-service firm located in Sao Paulo.

 

Focusses / specialisms

The M&A team at the firm advises Brazilian and international clients in mergers, spin-offs and acquisitions. It has strengths in sectors such as insurance, healthcare, manufacturing, defense and technology.

 

Key clients

Clients for the firm include Panasonic Brasil, Wella, Western Union, Awa Minerações and Teak Resources Company.