Vale snaps up mining counterpart in Brazil

Vale snaps up mining counterpart in Brazil

White & Case LLP in New York and the São Paulo offices of Azevedo Sette Advogados and Vinicius Marques de Carvalho Advogados have helped Brazilian mining company Vale buy a majority stake in counterpart Ferrous for 2.1 billion reais (US$550 million). 

Azevedo Sette advised Vale on corporate matters, while Vinicius Marques de Carvalho helped on competition law.

Three offices of Cescon, Barrieu, Flesch & Barreto Advogados advised Ferrous. Thompson Hine LLP in the US is also thought to have helped Ferrous, but this could not be confirmed prior to publication. The deal closed on 1 August.

The transaction hands Vale a 77.2% stake in Ferrous. The remainder is held by minority shareholders.

Ferrous operates five iron ore mines in the state of Minas Gerais in eastern Brazil, close to Vale’s existing operations. It also has one operation in the nearby state Bahia. 

Counsel to Vale

In-house counsel - Alex D’Ambrosio and Roberta Oliveira

White & Case LLP

Partners Greg Pryor and Marwan Azzi, and associates Mecaila Chapman and Jackie Labine in New York

Azevedo Sette Advogados

Partners Fernando Azevedo Sette and Ana Paula Terra, and associates Ana Carolina Veloso Ferreira and Gabriela Salazar Silva Pinto

Vinicius Marques de Carvalho Advogados

Partner Eduardo Frade and associate Anna Binotto in São Paulo

Counsel to Ferrous Resources

Cescon, Barrieu, Flesch & Barreto Advogados

Partners Maurício Teixeira dos Santos and Rafael Santos, and associates Eduardo Lanna and Gabriel Mariano in Rio de Janeiro; partner Joyce Honda in São Paulo, and associate Thales Lemos in Brasília

The article was updated on 23 August to add Vinicius Marques de Carvalho Advogados as counsel to Vale in competition matters.

https://latinlawyer.com/article/1196587/vale-snaps-up-mining-counterpart-in-brazil