Representative Latin American Mergers and Acquisitions and Joint Ventures
COUNTRYCOMPANYMATTER CLIENT
Brazil Gerdau Ameristeel Corporation Representation of Gerdau Ameristeel Corporation in connection with its announced acquisition of Chaparral Steel Company for US$4.22 billion. Chaparral, headquartered in Midlothian, Texas, specializes in the production of structural steel products. It is the second largest producer of structural steel beams in North America. Gerdau Ameristeel, which is 67% percent owned by our client Brazilian steelmaker Gerdau S.A., is the second largest mini-mill steel producer in North America.
Brazil Gerdau S.A. Representation of Gerdau S.A. in connection with its $1.67 billion acquisition of the steel business of Quanex Corporation. Prior to the acquisition, Quanex will spin-off its building products business to its stockholders as a stand-alone company to be called Quanex Building Products. Gerdau will then acquire all of the outstanding shares of common stock of Quanex at a per-share price of $39.20. Quanex's Macsteel business, an engineered steel bar producer, is headquartered in Jackson, Michigan, with steel mini-mills in Monroe, Michigan and Fort Smith, Arkansas. Gerdau S.A. of Brazil is the largest long steel producer in the Americas.
Brazil Banco Pactual S.A. Representation of UBS AG in its US$2.5 billion acquisition of Banco Pactual S.A., Brazil's leading independent investment bank.
Brazil Portugal Telecom Representation of Portugal Telecom, 50% owner of Vivo S.A., Brazil’s largest mobile telephone company, in connection with an unsolicited bid by Sonaecom, a subsidiary of Portuguese conglomerate Sonae valued at approximately US$12 billion. This 13-month takeover contest ended when Portugal Telecom’s shareholders rejected changes to the company’s bylaws that were a condition to Sonaecom’s bid.
Brazil Portugal Telecom Representation of Portugal Telecom, Portugal’s leading telecommunications company, in the €1.4 billion spin-off of its controlling stake in its subsidiary PT Multimedia. The spin-off closed on November 7, 2007. Portugal Telecom has a market capitalization of €10.5 billion after the spin-off and provides wireline and mobile voice, broadband Internet and other services in Portugal and mobile services in Brazil through its joint venture Vivo. PT Multimedia has a market capitalization of €3.0 billion, provides cable and satellite TV, broadband Internet and voice services in Portugal, and distributes and exhibits films in Portugal.
Brazil TPG-Axon Capital Representation of TPG-Axon Capital in connection with its acquisition of a 49% interest in BFRE--Brazilian Finance & Real Estate S.A. for approximately US$350 million. BFRE is a leader in the Brazilian market for mortgage of other types of real estate financings.
Chile PPL Corporation Representation of PPL Corporation in connection with the divestiture of its Latin American regulated electric delivery businesses in Bolivia, Chile and El Salvador, for a total consideration of US$851 million.
Dominican Republic Cap Cana S.A. Representation of Cap Cana S.A. in connection with the negotiation of multiple joint venture and license and branding agreement with each of Trump International, Marriott International (Ritz-Carlton), Coral Hospitality and Sotogrande of Spain (NH Hotels).
Guatermala Grupo Financiero Uno, S.A. Representation of the sellers in connection with the multi-jurisdictional sale to Citibank N.A. of Grupo Financiero Uno, S.A., the largest credit card provider in Central America with operations in Panama, Guatemala, Nicaragua, Honduras and El Salvador.