Fonte: Latin Lawyer
Data: 5 November 2009
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
