LATIN LAWYER 30/05/2019
Duratex acquires tile maker in Brazil
Siqueira Castro Advogados and Machado Meyer Advogados have helped Brazilian wood panel manufacturer Duratex acquire local tile maker Cecrisa Revestimentos Cerâmicos for 540 million reais (US$135 million).
Brazilian asset manager Vinci Partners, the majority owner of Cecrisa, turned to Lobo de Rizzo Advogados for the deal. The Borges Freitas family, founder and shareholder in Cecrisa, enlisted Donelli, Abreu Sodré e Martins Advogados.
Siqueira Castro provided all legal due diligence to Duratex, while Machado Meyer negotiated the agreements.
The deal was signed on 22 May, and requires approval from Brazil’s antitrust watchdog, CADE.
Duratex will pay half the sum in cash immediately, and the second half when certain conditions are met. The nature of these conditions has not been disclosed.
Cecrisa has three manufacturing plants in Brazil with over 1,700 employees. It posted revenues of 652 million reais (US$162 million) last year.
Counsel to Duratex
In-house counsel – Ivan Diniz de Mello and Danielli de Souza Lapiccirella
Siqueira Castro Advogados
Partners Sérgio Ricardo Fogolin, Marina Magalhães Gomes Ramacciotti, André de Souza Santos, Gabriela Miziara Jajah, Marina Vieira Freir, João Daniel Rassi and Eduardo Ribeiro Augusto, and associates Pedro de Sylos Bonecke, Daniel Franco Clarke, Vera Silvia Leitão Assunção de Oliveira, Aline Pimenta Passos, Mariana Stuart Nogueira Braga and Victor Jardim Gomes
Machado Meyer Advogados
Partner Guilherme Malouf and associates Paulo Henrique Carvalho Pinto and Rodrigo Batah
Counsel to Vinci Partners
Lobo de Rizzo Advogados
Partners Ana Paula Miguel, Rodrigo Delboni Teixeira and Mariana Miranda Lima, and associatesHugo Johan Silverio Wery and Camilla Lagrasta
Counsel to the Borges Freitas family
Donelli, Abreu Sodré e Martins Advogados
Partners Luiz Donelli and Eduardo Sodre, Laura Leoni and Vítor Martins.