15 March 2011
Tauil & Chequer Advogados, in association with Mayer Brown, assisted Cameron, one of the leading provider of flow equipment products, systems and services in the world, with over USD 5 Billion in revenues, in the acquisition of Vescon Equipamentos Industriais Ltda., a Brazilian manufacturer of onshore wellhead and Christmas trees systems and valves.
After long negotiations, the transaction was concluded on January 31, 2011 for a consideration of approximately US$ 35 million.
Alexandre R. Chequer, Partner of Mayer Brown and Co-Head of the Global Energy Practice Group, highlights that “the transaction was special in many aspects. Vescon is a very traditional company with more than 40 years in the market, and throughout the negotiations we had to deal directly with the founding family. Each detail of the purchase and sale agreement had to be carefully tailored to fit the parties’ interests. Sometimes small deals are more demanding than large ones, as even very small issues matter.”
This acquisition is part of the strategy of Cameron for the expansion of its activities in Brazil and will give the company a privileged position in the Brazilian market of surface systems.
In addition to Alexandre R. Chequer, the Tauil & Chequer team advising Cameron included the Corporate & Securities Associates Salim Saud, Luciana Gomes, Bruno Belchior and Fernando Xavier; the Tax Transactions partner Ivan Tauil and the associate Roberta Caneca; the Employment Counsel Cesar Cadena, and the associate Luiz Gustavo Bezerra in Environmental Law.