Operação de US$ 2,5 bilhões assessorada por Lobo & de Rizzo é destaque na Latin Lawyer
A Latin Lawyer destacou a aquisição da Vale Fertilizantes pela Mosaic, operação que foi assessorada pelos nossos sócios-gestores Valdo Cestari de Rizzo e Regina Gasulla Bouza e pelos advogados Rodrigo Roso e Nicolle da Silva Zennaro. Leia a notícia completa:
Vale sells fertiliser business to US buyer for US$2.5 billion
Wednesday, 21 December 2016 by Lulu Rumsey
Cleary Gottlieb Steen & Hamilton LLP and Brazil’s Souza, Cescon, Barrieu & Flesch Advogados have helped Brazilian mining giant Vale sell the bulk of its fertiliser business to US phosphates company Mosaic for US$2.5 billion.
Mosaic – which gains improved access to Brazil’s vast agricultural markets as a result of the deal – hired the New York office of Simpson Thacher & Bartlett LLP and Brazil’s Lobo & de Rizzo Advogados. The deal was announced on 19 December.
The purchase price consists of US$1.25 billion in cash and around 42.3 million shares of common stock to be issued by Mosaic, representing around 11% of the company. Vale will have the potential to earn an additional amount of up to US$260 million to be paid in cash over a two-year period following closing, if certain financial requirements are met. The transaction is expected to close in late 2017.
Vale Fertilizantes includes five Brazilian phosphate rock mines and four chemical and fertiliser production facilities, as well as one potash facility in Brazil. The sale hands Mosaic Vale’s 40% interest in the Miski Mayo phosphate mine in Peru, and a potash project in Canada. The US company has the option to include the Rio Colorado, Argentina potash project at closing. It does not include Vale’s nitrogen and phosphate assets in Cubatão, São Paulo – those assets will be carved out of Vale Fertilizantes prior to closing, although Vale could sell them in 2017.
The sale is the latest divestment in Vale’s bid to cut debt; it posted record losses of more than US$12 billion last year.
Counsel to Vale
Cleary Gottlieb Steen & Hamilton LLP
Partners Jeffrey Lewis, Benet O’Reilly, Jim Duncan, Arthur Kohn and Len Jacoby, counsel Caroline Hayday, associates Aaron Meyers, David Moore, Rebecca Reeb, Kylie Barza, Katy Yang, Daniel Forester and Jane Rosen, and international lawyer Vitor Stern in New York; partner Juan Giráldez in São Paulo; and partner Jeremy Calsyn, counsel Rick Bidstrup and associates Daniel Culley and Erin Frake in Washington, DC
Souza, Cescon, Barrieu & Flesch Advogados
Partners Daniel de Miranda Facó and Ronald Herscovici and associates Júlia Barreto Lobo Dutra, Evaristo Dumont de Lucena Pereira, Lucas Faria Annes, Matheus Bittencourt Fernandes and Marcelo Martins Moura in São Paulo
Counsel to The Mosaic Company
Simpson Thacher & Bartlett LLP
Partners Eric Swedenburg and Sebastian Tiller in New York
Lobo & de Rizzo Advogados
Partners Valdo Cestari de Rizzo and Regina Gasulla Bouza and associates Rodrigo Roso and Nicolle da Silva Zennaro in São Paulo
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