Mayer Brown and Tauil & Chequer (T&C) in association with Mayer Brown advised on two transactions that were named Latin Lawyer “Deals of the Year” in the Capital Markets and Regulatory categories in Latin Lawyer’s 17th annual Deal of the Year Awards.
Capital Markets: Privatization of Eletrobras
T&C helped Brazilian bank BNDES in the structuring and implementation of the privatization process of Eletrobras (the largest electric power generation and transmission company in Brazil), where the Brazilian Federal Union sold a portion of its shares by means of its invested company, BNDESPAR, and caused Eletrobras to issue new shares, in order to reduce the Federal Union’s stake in the voting capital of the company. The privatization was carried out by means of a public offering of shares of $6.9 billion in B3 (São Paulo), NYSE (New York) and Latibex (Madrid) stock exchange. It was the first privatization by means of a public offering in Brazil and the largest Brazilian privatization in two decades.
Regulatory: Privatization of Corsan
T&C advised Aegea on the privatization of Companhia Riograndense de Saneamento (Corsan), a utilities company responsible for the water and sewage services of six million people living in 317 cities in the state of Rio Grande do Sul, Brazil. This was the first privatization of a state-owned sanitation company since the passing of the New Basic Sanitation Framework in 2020. The firm advised Aegea on all phases of the auction, including the legal due diligence of Corsan and the preparation of documents for participation in the auction.
The Latin Lawyer awards celebrate landmark Latin American deals and cases across 11 categories. They also recognize the achievements of practitioners in areas such as law firm leadership, diversity and pro bono, as well as those who have dedicated their careers to the advancement of the profession.