5/11/2009 em Imprensa

Fonte: Latin Lawyer

TozziniFreire Advogados has represented Brazilian investment group Principal Financial in renegotiating the ownership of its pension fund joint venture with Banco do Brasil.

Banco do Brasil and its financial advisors retained Velloza, Girotto e Lindenbojm Advogados Associados SC to advise it in raising its stake in BrasilPrev.

The deal saw Banco do Brasil acquiring all BrasilPrev’s newly issued common stock, raising giving it a 49.99 per cent holding in the company’s overall non-voting shares, and Principal 50.01 per cent. Banco do Brasil now controls 75 per cent of the company’s total stock, and Principal 25 per cent.

Under the terms of the joint venture, BrasilPrev will also take an exclusive right to distribute pension and other investment products through Banco do Brasil branches for 23 years.

Banco do Brasil and Principal have also declared an interest in acquiring Mapfre Nossa Caixa’s private pension portfolios.

JPMorgan acted as financial advisor to Principal, with BTG Pactual advising Banco do Brasil.

Counsel to Banco do Brasil

Velloza, Girotto e Lindenbojm Advogados Associados SC

Partner Cesar Amendolara and associate Camila Machado de Assunção

Counsel to Principal Financial Group

In-house counsel – Karen Pearston

TozziniFreire Advogados

Partners Marcio Baptista and Marta Viegas and associates Maria Beatriz Bueno Siqueira Nunes and Bruno Sbardellini Cossi

Counsel to JPMorgan

In-house counsel – Pedro Juliano and Mattia Monti

Counsel to BTG Pactual

In-house counsel – Bruno Duque