Fonte: Latin Lawyer
by Emiliano Mellino
TozziniFreire Advogados and Velloza, Girotto e Lindenbojm have worked on the restructuring of Principal Financial and BB Seguros’ Brazilian pension and long-term asset accumulation joint venture, Brasilprev Seguros e Previdência.
TozziniFreire provided assistance to Principal, having worked with the company since 1998 when it entered Brazil upon the acquisition of SulAmérica’s interest in Brasilprev. JP Morgan acted as Principal’s financial advisors in the restructuring of the joint venture.
Velloza Girotto worked together with investment bank BTG Pactual, which provided financial advice on legal and tax issues for Banco do Brasil – the parent of BB Seguros.
The transaction was completed on 30 April, with Principal purchasing 4 per cent of Brasilprev’s capital stock, held by Serviço Brasileiro de Apoio às Micro e Pequenas Empresas – SEBRAE.
The joint venture, which will be co-managed, has been extended for 23 years. Principal currently owns 50.01 per cent of BrasilPrev’s common stock with BB Seguros owning the remaining shares. Principal’s economic interest is 25 per cent, while Banco do Brasil’s share is 75 per cent.
Counsel to Principal Financial
TozziniFreire Advogados
Partners Marcio Mello Silva Baptista and Marta Viegas, and associates Maria Beatriz Bueno Nunes Kowalewski and Bruno Sbardellini Cossi
Counsel to JP Morgan
In-house counsel – Pedro Juliano and Marria Monti
Counsel to BTG Pactual
In-house counsel – Marecelo Henriques, Caio Zanette and Bruno Duque
Velloza, Girotto e Lindenbojm
Partners Cesar Amendolara and Márcio Garcia, and associates Camila Machado de Assunção, Mareska Tiveron Salge and Aline Pereira da Silva Bauermeister
