August 09. 2023
Tauil & Chequer Advogados advises Copel on its privatization process via stock exchange
Tauil & Chequer Advogados in association with Mayer Brown advised Companhia Paranaense de Energia (Copel), the state-owned company responsible for the generation, transmission and distribution of energy in the state of Paraná, on its privatization process and transformation into a company without defined control, through the dilution of the state of Paraná's stake in the company, by means of a follow-on public offering at B3, which raised R$ 5.21 billion.
The firm developed the entire legal modeling for the process, conducted the due diligence to assess the minimum price of the shares, as well as advising the State of Paraná as the selling shareholder on certain aspects of the offer, with a combination of financial and legal expertise that was essential to the success of the transaction.
It was the first privatization of a state-owned company to be carried out via a public offering, and the only other company to go through this process (Eletrobras, at federal level) also enjoyed our firm's support in its modeling. The case consolidates our team's experience in complex legal and financial operations, especially in privatization processes conducted in a capital markets environment.
Partner Bruno Salzano led the team, which was supported by partners Rodolfo Tella, Débora Yanasse, Michel Sancovski, Celso Grisi, Luiz Gustavo Bezerra, Aline Fidelis, Ludmila Braga, Cristiane Manzueto and Fabio Peixinho, counsel Gedham Gomes, and associates Julio Barboza, Aline Brayner, Gabriela Jansen, Natália Minotto, Giampaolo Marzulli, Isabella Fraia, Thiago Garcia, Luiza Uebel, Marcelo Ramos Leite, Isabella Zambo, Rodrigo Leal, Flavia Telles and Nubia Bufarah.
The firm developed the entire legal modeling for the process, conducted the due diligence to assess the minimum price of the shares, as well as advising the State of Paraná as the selling shareholder on certain aspects of the offer, with a combination of financial and legal expertise that was essential to the success of the transaction.
It was the first privatization of a state-owned company to be carried out via a public offering, and the only other company to go through this process (Eletrobras, at federal level) also enjoyed our firm's support in its modeling. The case consolidates our team's experience in complex legal and financial operations, especially in privatization processes conducted in a capital markets environment.
Partner Bruno Salzano led the team, which was supported by partners Rodolfo Tella, Débora Yanasse, Michel Sancovski, Celso Grisi, Luiz Gustavo Bezerra, Aline Fidelis, Ludmila Braga, Cristiane Manzueto and Fabio Peixinho, counsel Gedham Gomes, and associates Julio Barboza, Aline Brayner, Gabriela Jansen, Natália Minotto, Giampaolo Marzulli, Isabella Fraia, Thiago Garcia, Luiza Uebel, Marcelo Ramos Leite, Isabella Zambo, Rodrigo Leal, Flavia Telles and Nubia Bufarah.
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