July 20, 2022

Tauil & Chequer Advogados advises on the auction of Furnas property

On July 13, 2022, Tauil & Chequer Advogados (T&C), in association with Mayer Brown, advised BNDES and Furnas on the privatization of public real estate assets, in the first auction of its kind on the B3 (the Brazilian stock exchange). The privatization of these assets involved a parcel of land owned by Furnas, in the Botafogo district of Rio de Janeiro, which served as Furnas' headquarters and was acquired in the auction by Cyrela for R$74.4 million. It is a vanguard project due to the related circumstances of the State-Owned Companies Law, legal regime that is not applicable to Furnas since the privatization of Eletrobrás last June. T&C advised BNDES and Furnas in the “Eletriza” consortium, working jointly with Patrinvest , Alvarez & Marsal, CIX Capital and Apsis Consultoria Empresarial. The T&C team that advised on the acquisition comprised the Real Estate Transactions and Investments and the Infrastructure practices, and was led by partner Ludmila Braga, including Bruno Werneck and associates Julio Barboza, Juliana Deguirmendjian and Daniel Abuchalla.

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