Dechert's office in Washington, DC, and Pinheiro Neto Advogados in São Paulo have helped mining group Kinross acquire two hydroelectric power stations from Brazilian steel manufacturer Gerdau for US$257 million.
Gerdau hired Lino, Beraldi, Belluzzo e Caminati Advogados in São Paulo.
The deal was signed on 14 February and is subject to approval from the antitrust watchdog CADE and from the electricity regulator ANEEL. The companies expect it to close in November 2018.
The acquisition targets are two hydroelectric dams called Caçu and Barra dos Coqueiros, both of which are located on the Claro river in the central state of Goiás. They have a combined installed capacity of 155 megawatts. Kinross plans to use the plants to supply energy to its Paracatu gold mine, located in the state of Minas Gerais in the southeast region of Brazil.
The deal is part of Gerdau's divestment plan, which has helped the company raise US$1.8 billion over the last four years.
Counsel to Kinross
In-house counsel – Aaron Hunter and Carolina Lobato
Partner Bernardo Piereck and visiting attorney Guilherme Smolarek de Barros in Washington, DC
Pinheiro Neto Advogados
Partner Álvaro Uliani dos Santos and associates Roberta Stettinger Bilotti Demange, Giovana de Sá Silva and Eduardo Comparato de in São Paulo
Counsel to Gerdau
Lino, Beraldi, Belluzzo e Caminati Advogados
In-house counsel – Otavio Augusto Trois de Miranda, Raul Fernando Schneider and Rafael Lebensold
Partner Roberto Lourenço Belluzzo and associates Marina Burin and Marcussuel Laurindo da Silva in São Paulo