Brazilian firm Pinheiro Neto Advogados has helped Italian industrial group Gavio pay US$560 million for an indirect stake in two subsidiaries of Brazilian construction conglomerate Primav.
Primav turned to Tauil & Chequer Advogados in association with Mayer Brown. Gavio is also thought to have hired Milan-based law firm Chiomenti Studio Legale, but this was not confirmed before publication.
Primav, owned by Brazilian conglomerate CR Almeida, is the controlling shareholder of infrastructure concession company EcoRodovias, as well as Vem ABC, the consortium tasked with building and operating a new monorail in São Paulo. Gavio will invest US$560 million in the JV, giving it a 64 per cent stake, with CR Almeida commanding the rest. Through the deal, Gavio will also take indirect stakes in EcoRodovias and Vem ABC.
Gavio has been an owner of EcoRodovias in the past. The logistics company, which holds highway and port terminal concessions and is headquartered in São Paulo, was previously owned by Italian industrial group Impregilo, of which Gavio used to be a shareholder.
The latest transaction, which marks Gavio's return to Brazil, closed on 18 December.
Counsel to Gruppo Gavio
Pinheiro Neto Advogados - Partner Fernando Meira and associates Guilherme Monteiro and Gustavo Credo
Counsel to Primav
In-house counsel - Sandro Vicentini and Priscila Antoniazzi
Tauil & Chequer Advogados in association with Mayer Brown - Partners Carlos Motta, Eduardo Lima, Celso Grisi and Paula Magalhães, and associates Gabriella Najjar, Luis Montes, Julia Visconti, Enrique Lewandowsky, Beatriz Moll and Luis Otavio Pinto