Machado, Meyer, Sendacz e Opice Advogados acted as deal counsel as Votorantim Cimentos Brasil made a 1 billion reais (US$540 million) bond offering.
The firm advised both Votorantim and the deal coordinator BB Banco de Investimento in the issuance made, on 22 December.
Machado Meyer partner Eliana Ambrósio Chimenti says, “As per the CVM rules on public offerings with restricted selling efforts, theissuance was exempted from registration before Brazilian Securities Commission, or the CVM, and this allows issuers to access the capital market through the issuance of certain types of securities in a very simple and quick way.”
Votorantim Cimentos commands a 40 per cent share in the Brazilian cement market, and plans to use the funds raised from the bond issuance to finance its acquisition of stakes in Argentina’s Cementos Avellaneda and Uruguay’s Cementos Artigas.
The company’s overseas investment plans also involve a bid to acquire Portuguese cement maker Cimpor.
Camargo Corrêa’s withdrawal from the race to acquire the company was announced today, leaving Votorantim vying to top a US$5.5 billion bid from Rio-based steel producer CSN.
Counsel to Votorantim Cimentos Brasil
· In-house counsel - Carlos Boggio
Deal counsel
· Machado, Meyer, Sendacz e Opice Advogados
Partner Eliana Chimenti and associates Fabrizio Sasdelli and Gustavo Secaf Rebello
DT
(Latin Lawyer 01.02.2010)
(Notícia na Íntegra)
