Brazilian grain supplier Cantagalo General Grains has hired TozziniFreire Advogados to buy back a minority stake in a local export business from Japanese counterpart Sojitz.
The seller turned to Machado Meyer Advogados for the deal, which closed on 30 October with no value disclosed.
Through the transaction, Sojitz returned its 43% stake in CGG Trading to Cantagalo. The Japanese group first purchased the share back in 2013, when it set itself the target of producing 10 million tonnes of grain by 2020 to tap growing grain demand in Asia. The deal consolidates Cantagalo’s control of CGG Trading.
Tokyo-headquartered conglomerate Sojitz is also active in the mining, energy and construction industries, among others, with over 440 subsidiaries worldwide. It has Latin American assets in Mexico and Brazil, notably in the oil and gas industry.
Headquartered in São Paulo, Cantagalo harvests soybeans, corn and beans, among other seed-based products. It retails its produce through CGG Trading.
Counsel to CGG Trading
- In-house counsel - Fernanda Duarte
- TozziniFreire Advogados - Partners Fernando Carvalho, Maria Elisa Gualandi Verri and Guilherme Ribas, and associates Mariana Cornibert da Barrosa and Raquel Souza Jorge
Counsel to Sojitz
- Machado Meyer Advogados - Partner José Virgilio Lopes Enei and associates Larissa Santiago Gebrim, Amanda Barros and Fernanda Armelim Gonzaga Quiroga Mosquera.
(Latin Lawyer - 20.11.2020)
