Assessoria do escritório no investimento da State Power Investment Company é destaque na Latin Lawyer
A Latin Lawyer falou hoje (19) sobre a compra da Usina Hidrelétrica São Simão pelos chineses da State Power Investment Corp. A operação teve assessoria do escritório. Leia a notícia completa:
Chinese company wins biggest plant in Brazilian hydro auction
Luis Bulcao Pinheiro
Machado Meyer Advogados has helped Chinese State Power Investment Company (SPIC) make the winning bid for the 1.7 gigawatt São Simão hydroelectric dam as assets owned by Cemig are auctioned for US$3.8 billion.
Lobo de Rizzo Advogados represented Santander, which acted as SPIC’s financial advisor in the bidding process.
Other investors did not present an official offer for São Simão, which was auctioned on 27 September. The Chinese company offered 7.18 billion reais (US$2.2 billion) for the concession. This was significantly above the minimum bid threshold of 6.7 billion reais (US$2.1 billion).
São Simão is located on the Parnaíba river, between the states of Minas Gerais and Goiás, in central Brazil.
Three other hydroelectric plants formerly owned by Cemig were auctioned off alongside São Simão. The 424-megawatt Jaguara dam and the 408-megawatt Miranda dam, both of which are located in the country’s interior. Franco-Belgian company Engie made winning bids, offering 2.1 billion reais (US$660 million) for Jaguara and 1.2 billion reais (US$377 million) for Miranda.
Enel won a fourth tender for the Volta Grande dam, which has a 380-megawatt capacity and is located between the states of Minas Gerais and São Paulo. The Italian energy company offered 1.4 billion reais (US$446 million) to win the bid.
The counsel for Engie and Enel could not be identified prior to publication.
The auction gives the successful bidders a 30-year concession over the hydroelectric plants. In total, the government raised 12.1 billion reais (US$3.8 billion).
President Michel Temer announced a privatisation programme in August, which included the recently auctioned Cemig assets. It involves 57 concessions, including ports, airports, road tolls and state-owned companies.
Lobo de Rizzo partner Fabrizio Sasdelli celebrates the result of the bidding process. “This kind of financing is about risk taking,” says Sasdelli. “This [auction] was particularly complex and involved banks, foreign teams and constant overview from the [country’s] highest courts,” he adds.
The dam sales come shortly after the Brazilian government confirmed the worst recession in the country’s history had ended. Sasdelli believes the auction’s success reflects the economy’s return to form. “Deals are taking place and plans are taking off,” he says. “Despite the enduring political turmoil, we expect business to continue down this path.”
Counsel to State Power Investment Company
Machado Meyer Advogados
Partners Ana Karina Esteves de Souza, José Virgilio Lopes Enei, Alberto Faro, Paulo de Tarso Machado and Vitor Fernandes Araujo
Counsel to Santander and Itaú BBA
Lobo de Rizzo Advogados
Partners Fabrizio Sasdelli, Luis Fernando Guerrero, Marcelo Bez Debatin da Silveira, Mariana Miranda Lima, Milton Pinatti Ferreira de Souza and Sergio Varella Bruna, and associates André Ramos Bedim, Andrey Biagini, Carla Cristina Martins Cardozo, Daniela de Pontes Andrade, Henrique Lago da Silveira, Luciana de Andrade Moura Lima, Marcelo Droghetti, Marina Maciel de Barros, Patricia Paoliello Lamaneres Binnie and Renata Soares Piazzon
Fonte: Latin Lawyer
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