brazil 2016 m&a handbook 2016 - ttr€¦ · 2016 brasil m&a handbook 2016 brazil análise...

GU

IA M

&A

2016 BR

AS

IL

M&

A H

AN

DB

OO

K 2

016

BR

AZ

IL

Análise do mercado transacional em 2015,incluindo M&A, Private Equity e Venture Capital

An analysis of transactions in 2015,including M&A, Private Equity and Venture CapitalGUIA M&A 2016

PRIVATE EQUITYVENTURE CAPITAL

BRASILBRAZIL

M&A HANDBOOK 2016PRIVATE EQUITY

VENTURE CAPITAL

Leader in M&A - Transaction Value TTR Annual Ranking Brazil 2015

af_Guia_TTR_M&A_Marin.indd 1 6/29/16 7:59 PM

BRAZILAn analysis of transactions in 2015,

including M&A, Private Equity and Venture Capital

GUIA DE M&APRIVATE EQUITY

VENTURE CAPITAL

2016

Note from the authors

The M&A Handbook 2016 is a result of local research and market analysis by TTR’s Research and Business Intelligence team. Our team follows the transactional markets analysed in this Handbook at a local level, in local language, and on a daily basis – researching transactional and financial data by contacting market players, collecting their input and crosschecking and analysing the data throughout the year.

For full access to all of the transactional data on Brazil, Latin America, and the Iberian market (spanning Mergers and Acquisitions, Equity Capital Markets, Acquisition Finance and Project Finance) visit TTR at www.TTRecord.com.

M&A HANDBOOKPRIVATE EQUITY

VENTURE CAPITAL

BRAZIL2016

CONTENTS

©2016 - Zuvinova, S.A.

Primeira edição, Junho 2016

Zuvinova, S.A.

Guia de M&A Brasil 2016 / M&A Handbook 2016

Junho, 2016

Todos os direitos reservados.

O conteúdo desta publicação não pode ser reproduzido, no seu todo ou em parte, nem transmitido ou registrado por qualquer sistema de recuperação de informação, sob nenhuma forma ou por qualquer meio, sem a autorização prévia, por escrito, da editora Zuvinova, S.A.

TTR – Transactional Track Record e o logótipo TTR são marcas da editora Zuvinova, S.A.

©2014 [Zuvinova, S.A.]

Rua dos Cavalos, 30

7830-341 Serpa

Imprime:

G.E Soluções em Gráfica e Editora Ltda.

Rua Carlos Pavan, 40

Cep 05.537-090 São Paulo-SP

DEFINITIONS 9

VISUAL SUMMARY OF 2015 11

MERGERS & ACQUISITIONS (M&A) 15 2015 OVERVIEW 16 CROSS-BORDER DEALS OF 2015 19 MOST ACTIVE COMPANIES IN 2015 28

PRIVATE EQUITY 31 2015 OVERVIEW 32 LARGEST TRANSACTIONS IN 2015 33 MOST ACTIVE SUBSECTORS IN 2015 34 CROSS-BORDER DEALS OF 2015 35

VENTURE CAPITAL 41 2015 OVERVIEW 42 LARGEST VENTURE CAPITAL TRANSACTIONS IN 2015 43 MOST ACTIVE SUBSECTORS IN 2015 44 CROSS-BORDER DEALS OF 2015 45

SECTORS & SUBSECTORS (M&A, PE e VC) 49 MOST ACTIVE SUBSECTORS IN 2015 50 ENERGY AND RENEWABLE ENERGIES 51 REAL ESTATE AND CONSTRUCTION 56 INDUSTRY 59 NATURAL RESOURCES 67 SERVICES AND DISTRIBUTION 70 TECHNOLOGY AND TELECOMS 83

ADVISORS (M&A, PE e VC) 91 FINANCIAL ADVISORS 92 LEGAL ADVISORS 97

CORPORATE PROFILES 111

INDEX OF ENTITIES 169

DEFINITIONS

9

M&A TRANSACTIONS

For the purpose of this Handbook, the acquisition of assets or any other corporate acquisition that does not involve the acquisition of shares is not considered a M&A transaction. The acquisition of shares in a target company which configures a mere stock market transaction (namely, through a broker or any type of intermediary) is also not considered to be a M&A transaction.

TTR considers Brazilian M&A deals to include any acquisition of shares, both of public or private companies headquartered in Brazil, or of any other company worldwide, where a Brazilian entity is involved as buyer or seller.

PRIVATE EQUITY TRANSACTIONS

All investments or divestments carried out by Private Equity firms and/or funds under management are registered as Private Equity deals. When the purchase or sale of a specific target company is carried out through one of the Private Equity firms’/funds’ subsidiaries, the deal will only be considered a Private Equity deal if the subsidiary is controlled by the referred to Private Equity/fund.

VENTURE CAPITAL TRANSACTIONS

Investments carried out by private funds which concentrate their activity on companies in a startup phase, including seed capital, early stage and expansion.

BIG TICKET

Brazil: All M&A deals valued at R$500m or above.

MID-MARKET

Brazil: All M&A deals valued between R$200m and R$500m.

SMALLER MARKET

Brazil: All M&A deals valued under R$200m.

Brazil

VISUALSUMMARY

OF 2015

M&A HANDBOOK 2016 VISUAL SUMMARY – BRAZILVISUAL SUMMARY – BRAZIL M&A HANDBOOK 2016

1312 TTR - Transactional Track Record - (www.TTRecord.com)TTR - Transactional Track Record - (www.TTRecord.com)

Visual summary of 2015Visual summary of 2015

Volume and value of transactions- 2012, 2013 and 2014 vs 2015 by type Advisors

841

125

166 411

0

100

200

300

400

500

600

700

800

0,00 50,00 100,00 150,00 200,00 250,00 300,00 350,00 400,00 450,00 500,00 550,00 600,00 650,00

134.285,47

70.095,57

1.071,78 17.906,21

127.651,56

128.320,65

13.518,46

14.049,47

1.043,85

700,99

16.425,29 1.210,16

M&APrivate Equity

Venture CapitalTotal value

Nº total of dealsNº total of deals with Legal AdvisorsNº total of deals with Financial AdvisorsNº of deals with Financial and Legal Advisors

2014 - M&A2014 - Private Equity2014 - Venture Capital


Total value R$m

NO. OF TRANSACTIONS

AVERAGE VALUE (R$M)



3.231,60

136

86 5 45TECHNOLOGY

2.329,76

125

46 5 74INTERNET

3.746,04

65 13 8

86

FINANCIAL AND INSURANCE

3.100,08

81

57 15 9DISTRIBUTION AND RETAIL

Most active subsectors by type of transaction - 2015

841

125

166 411

0

100

200

300

400

500

600

700

800

0,00 50,00 100,00 150,00 200,00 250,00 300,00 350,00 400,00 450,00 500,00 550,00 600,00 650,00

134.285,47

70.095,57

1.071,78 17.906,21

127.651,56

128.320,65

13.518,46

14.049,47

1.043,85

700,99

16.425,29 1.210,16

M&APrivate Equity

Venture CapitalTotal value

Nº total of dealsNº total of deals with Legal AdvisorsNº total of deals with Financial AdvisorsNº of deals with Financial and Legal Advisors



Total value R$m

NO. OF TRANSACTIONS

AVERAGE VALUE (R$M)



3.231,60

136

86 5 45TECHNOLOGY

2.329,76

125

46 5 74INTERNET

3.746,04

65 13 8

86

FINANCIAL AND INSURANCE

3.100,08

81

57 15 9DISTRIBUTION AND RETAIL

Brazil

MERGERS&

ACQUISITIONS


M&A HANDBOOK 2016 M&A – BRAZILM&A – BRAZIL M&A HANDBOOK 2016

205

240

189 200 193 204 219

219

188 171

228 208

226

187 203

225

0,00

10.000,00

20.000,00

30.000,00

40.000,00

50.000,00

60.000,00

70.000,00

80.000,00

0

50

100

150

200

250

300

2014 6%

5%

32% 57%

2013 7% 6%

37% 50%

20126% 6%

36% 52%

20155% 5%

28%

62%

64.920,64

13.159,47 10.965,52

126.597,71

13.852,46 11.332,37

113.932,18

14.962,80 13.485,20

111.363,53

15.684,02 16.023,56

1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q

2012 20142013 2015

No. OF TRANSACTIONS TOTAL VALUE (R$m)

No. of transactionsTrendline (Nº of transactions) Total value (R$m) Trendline (Total value (R$m))

Big ticket (R$ ≥ 500m)Mid Market (≥ R$ 200m) Smaller Market (≤ R$ 200m)Undisclosed Deal Value

No. OF TRANSACTIONS (%)

2014 - Total value2015 - Total value


VALUE OF TRANSACTIONS

Big ticket (R$ ≥ 500m)

Mid Market (≥R$ 200m)

Smaller Market (≤ R$ 200m)

2015 Overview 2015 Overview

Quarterly deal flow since 2012

Aggregate deal value and volume by market segment

Big Ticket (≥ R$ 500m)

Mid market (≥ R$ 200m)

Smaller market (< R$ 200m)

Non-disclosedvalue Total

2015 - Nº of deals 41 42 235 523 8412014 - Nº of deals 46 42 251 456 7952013 - Nº of deals 55 47 311 422 8352012 - Nº of deals 49 48 300 437 834

Year Total numberof deals

Total value(R$m)

2015 841 89.045,63

2014 795 151.782,54

2013 835 142.380,18

2012 834 143.071,11

Distribution of total deals by deal type

618

567

584

626

91

94

99

127

132

134

152

81

2015

2014

2013

2012

70.095,57

134.285,47

127.651,56

128.320,65

17.906,21

16.425,29

13.518,46

14.049,47

1.043,85

1.071,78

1.210,16

700,99

2015

2014

2013

2012


M&A Venture CapitalPrivate Equity

TOTAL VALUE (R$m)

2015 Overview Cross-border deals of 2015



10 Largest transactions involving a Brazil-based party(excluding Private Equity, Venture Capital and Cross Border deals)

5 Largest inbound cross-border acquisitions with Brazil-based targets

Target Subsector Buyer Seller Value (R$m)

MBR - Minerações Brasileiras Reunidas Mining FIP Multisetorial

Plus II

Vale - Companhia Vale

do Rio Doce4.000,00

Alpargatas Fashion and Textile J&F Investimentos Camargo Corrêa 2.667,00

Rede D'Or São LuizHealthcare, Hygiene,

Medical Aesthetics and Cosmetics

Pacific RDSL Participações

Banco BTG Pactual,

BTG Pactual Participations

2.380,00

GaspetroOil and Gas

Chemical and Chemical Materials

Mitsui Gás e Energia do Brasil Petrobras 1.900,00

BRPR 47 Empreendimentos Imobiliários e Participações Real Estate Brookfield Brasil BR Properties 1.279,00

Fac Educacional, Fair Educacional, Famesul, Sociedade Lageana Educacional, Sevita, Assevim,

Sociedade Educacional Leonardo da Vinci

Education

Treviso Empreendimentos

e Participações(Carlyle, Vinci

Partners)

Kroton Educacional 1.105,00

Grupo ABC Marketing and Advertising

Das Brasil Serviços de Marketing

Kinea Investimentos,

Private Shareholders

1.000,00(Approx.)

Saraiva Educação Media, Multimedia and Editorial Editora Ática Livraria Saraiva 725,00

BPMB ParnaíbaFinancial and

Insurance Oil and Gas

Eneva Banco BTG Pactual 695,05

Recovery do Brasil ConsultoriaFinancial and Insurance Consultancy, Audit and

Engineering

Banco Itaú Unibanco

Banco BTG Pactual

640,00

Legal Advisors

Mattos Filho, Veiga Filho, Marrey Jr. e Quiroga Advogados

Souza, Cescon, Barrieu & Flesch Advogados

Barbosa, Müssnich & Aragão Advogados

Banco BTG Pactual (In-house)

Demarest Advogados

Morrison & Foerster US

Morrison & Foerster Japan

Pinheiro Neto Advogados

Duarte Garcia, Caselli Guimarães e Terra Advogados

PMKA Advogados

Ulhôa Canto, Rezende e Guerra - Advogados

Lobo & de Rizzo Advogados

Davis & Gilbert

Machado, Meyer, Sendacz e Opice Advogados

Vieira Rezende AdvogadosBanco Itaú Inibanco

Financial Advisors

Banco Bradesco BBI

Goldman Sachs Brazil

Banco BTG Pactual

Banco Itaú BBA

Vinci PartnerS

Moelis & Company Brazil

Santander Global Banking & Markets Brazil


Souza Cruz Tobacco British American Tobacco Américas

Aberdeen Asset Mana-gers, Private Shareholders

9.328,42

Novita Distribution and Retail Coty Hypermarcas 3.800,00



Government of Singapore Investment

Corporation (GIC)

Private Shareholders, BTG Pactual Brazil Investment

Fund I

3.200,00(Approx.)



Carlyle Partners VI, FBIE FIP II, Carlyle South

America Buyout Fund-

1.750,00(Approx.)

Azul Linhas AéreasTransports, Aviation and

LogisticsHNA Group Azul Holding Brasil 1.670,97

Financial Advisors

Deutsche Bank BrazilBanco Itaú BBA

Banco BTG Pactual


Credit Suisse Brazil

BR Partners

Bank of America Merrill Lynch

J.P. Morgan

Legal Advisors

Ulhôa Canto, Rezende e Guerra - AdvogadosSouza Cescon Advogados


Rede D´Or São Luis (In-house)

Demarest Advogados

Barbosa, Müssnich, Aragão

Kirkland & Ellis US

Mattos Filho, Veiga Filho, Marrey Jr. e Quiroga AdvogadosSkadden, Arps, Slate, Meagher & Flom US


Shearman & Sterling

Sidley Austin US

TozziniFreire Advogados



2015 2014 2013 20126%

6%

28% 60%

7% 5%

32% 56%

7% 7%

30% 56%

9% 5%

30% 56%

24.592,15

3.938,80 3.550,00

21.979,66

4.676,73 3.275,91

20.155,74

4.825,92 3.635,68

54.793,63

5.700,34 5.233,89

61

86

62

55 64 62

79

68 61

54 59 61 63

59

49

68

0,00

5.000,00

10.000,00

15.000,00

20.000,00

25.000,00

30.000,00

35.000,00

40.000,00

0

10

20

30

40

50

60

70

80

90

100


2012 20142013 2015



Big ticket (R$ ≥ 500m)Mid Market (≥ R$ 200m) Smaller Market (≤ R$ 200m)Undisclosed Deal Value




VALUE OF TRANSACTIONS

Big ticket (R$ ≥ 500m)

Mid Market (≥R$ 200m)

Smaller Market (≤ R$ 200m)

Cross-border deals of 2015

Acquisitions by foreign buyers in BrazilQuarterly deal flow since 2012


Total value(R$m)

2015 239 32.080,95

2014 235 29.932,30

2013 273 28.617,34

2012 264 65.727,86

Aggregate value and volume of transactions by market segment


Mid market (≥ R$ 200m)

Smaller market (< R$ 200m)

Non-disclosedvalue Total

2015 - Nº of deals 21 12 71 135 2392014 - Nº of deals 13 15 66 141 2352013 - Nº of deals 19 14 86 154 2732012 - Nº of deals 18 17 80 149 264

5 Largest outbound cross-border acquisitions by Brazil-based buyers

Financial Advisors

Banco Bradesco BBI

Bank of America Merrill LynchBanco BTG PactualBanco Itaú BBA

UBS Brasil


Moy Park Food Industry JBS Marfrig 4.851,59

GFSFood Industry

Agriculture, Agribusiness, Farming and Fishing

BRF Austria Private Shareholders 1.477,11

Fundamenture Technology Valid Spain Private Shareholders 354,49

Eclipse Holding Financial and Insurance BRFPampa Agribusiness

Follow-on Fund L.P, Pampa Agribusiness Fund

299,04

QuiportAirports

Transports, Aviation and Logistics

Alba Concessions, CCR España Black Coral Capital, Aecon 173,81

(Approx.)




Acquisitions by foreign buyers in BrazilCountries with greatest number of aquirers of Brazil-based targets

534,61 856,93

320,96 752,65

0

20

40

60

80

100

120

0,00 50,00 100,00 150,00 200,00 250,00 300,00 350,00 400,00 450,00 500,00

10.863,33

2.061,65

48,64

United States France Spain

United Kingdom Argentina

Germany Japan

AVERAGE VALUE

Total value R$m

No. OF TRANSACTIONS


Subsectors most targeted by foreign buyers in Brazil

10

6

7

4

5

3

3

5

4

3

2

3

3

1

3

1

1

1

2

4

4

2

1

1

1

2

1

1

1

2

3

1

4

1

1

1

1

2

4

1

2

3

1

1

1

1

2

2

1

1

1

1

2

1

1

1

1

1

1

4

6

2

1

3

4

1

2

2

4

1

2

3

1

1

0 5 10 15 20 25

2

United States

United Kingdom

Germany

France

Argentina Other Countries

Spain

Japan

Internet

Distribution and Retail

Technology

Consultancy, Audit and Engineering

Transport, Aviation and Logistics

Food Industry

Marketing and Advertising

Financial and Insurance


Glass, Ceramic, Paper, Plastics,Wood and Timber

Steel, Metallurgy andIndustrial Production

Education

Healthcare, Hygiene, MedicalAesthetics and Cosmetics

Media, Multimedia and Editorial

Mining

Tourism, Hotels and Restaurants

Automotive and Recreational Vehicles

Other Consumer Goods

Pharmaceutical, Parapharmaceuticaland Cosmetics




Acquisitions vs. Divestitures of Foreign companies in Brazil

Subsectors in which foreign owners sold equity in Brazil-based companies most

Countries with greatest number of companies selling equity in Brazil-based companies

2015

32.080,95

22.827,70

9

6

6

5

5

4

4

3

3

3

3

3

3

3

20

7

5 54

33

22 2

2

6.609,60

656,05 625,51 40,72 *

1.717,87

400,00 11,64 487,83 436,19

9.330,42

AcquisitionsDivestitures

No. of companies selling Total value (R$m) * Non-disclosed value


Healthcare, Hygiene, Medical Aesthetics and Cosmetics



Technology

Internet

Steel, Metallurgy and Industrial Production

Mining



Electric Energy

Cars, Motorcycles and Other Vehicles

Telecoms


France Spain Luxembourg Germany Portugal Singapore China Bermuda Netherlands United Kingdom

UnitedStates

1

5

4

3 3 3

2

1 1 1 1 1 1

129,01 *

95,19 43,67 41,07 196,88

* * 23,07

* *

4.851,59

299,04

6

12

8

4

8 7

10

8

3 4

0,00

2.000,00

4.000,00

6.000,00

8.000,00

10.000,00

12.000,00

14.000,00

16.000,00

0

2

4

6

8

10

12

14

16

18

8 9

17

8 8

10


2012 20142013 2015

No. OF TRANSACTIONS


TOTAL VALUE (R$m)

No. of acquisitions Non-disclosed value*Total Value (R$m)

Colombia Switzerland Spain UnitedStates

Ecuador Netherlands Canada Argentina Venezuela Bolivia Portugal IrelandChile


Total value(R$m)

2015 25 5.633,38

2014 27 14.372,38

2013 36 25.332,20

2012 42 5.721,13


Acquisitions by Brazil-based buyers abroad

Deal flow since 2012

1

5

4

3 3 3

2

1 1 1 1 1 1

129,01 *

95,19 43,67 41,07 196,88

* * 23,07

* *

4.851,59

299,04

6

12

8

4

8 7

10

8

3 4

0,00

2.000,00

4.000,00

6.000,00

8.000,00

10.000,00

12.000,00

14.000,00

16.000,00

0

2

4

6

8

10

12

14

16

18

8 9

17

8 8

10


2012 20142013 2015

No. OF TRANSACTIONS


TOTAL VALUE (R$m)

No. of acquisitions Non-disclosed value*Total Value (R$m)

Colombia Switzerland Spain UnitedStates

Ecuador Netherlands Canada Argentina Venezuela Bolivia Portugal IrelandChile





Countries in which Brazil-based buyers made the most acquisitions



Subsectors in which Brazil-based buyers mademost acquisitions abroad

8

4

3

2

2

2

1

1

1

1

1

1

1

1

1

1

1

1

1

Food Industry




Inspection and Certification



Química e Materiais Químicos

Ports


Oil and Gas

Airports


Internet

Real Estate

Event Production and Management



Food and Beverage



Most active companies in 2015

Companies acquiring

Brazil-based companies with most acquisitions

Brazil-based buyers that spent most on acquisitions

Most active companies in 2015

Companies selling

Brazil-based companies that made most divestitures

Brazil-based companies that made the largest divestitures

Ranking Company Total value (R$m)

1 Ambev 6

2 BK Brasil 5

3 Gerdau 4

4 BNDES 4

5 Gebbras Participações 4


1 JBS 4.851,59

2 J&F Investimentos 2.667,00

3 CSN 2.620,02

4 Pacific RDSL Participações 2.380,00

5 BRF 1.980,03


1 Marfrig 4.851,59

2 Vale - Companhia Vale do Rio Doce 4.000,00

3 Hypermarcas 3.800,00

4 Camargo Corrêa 2.667,00

5 BTG Pactual Participations 2.380,00


1 Oi 22.166,70

2 Votorantim Metais 3.345,28

3 SS Towers Participações 2.255,00

4 Gerdau 1.915,76

5 Andrade Gutiérrez Participações 1.813,53

Brazil

PRIVATE EQUITY


M&A HANDBOOK 2016 PRIVATE EQUITY – BRAZILPRIVATE EQUITY – BRAZIL M&A HANDBOOK 2016

2012 20142013 2015

39 37

29

22

29 30

22

18 20

19

28 27 26 27

19 19

0,00

1.000,00

2.000,00

3.000,00

4.000,00

5.000,00

6.000,00

7.000,00

8.000,00

9.000,00

10.000,00

0

5

10

15

20

25

30

35

40

45


9.688,16

6.737,13

2014

11.111,53

2.252,59

2013

10.739,65

3.286,12

2012

9.388,12

8.518,09

2015

74

17

2015

78

16

2014

82

13

2013

103

21

2012


InvestmentsExits

TOTAL VALUE (R$m)

Nº OF DEALS


2015 Overview

Quarterly deal flow since 2012Largest Private Equity transactions in Brazil

(excluding Cross-border)

Private Equity - Investments vs. Exits*


Total value(R$m)

2015 91 17.906,212014 94 16.425,292013 99 13.518,462012 127 14.049,47

Largest transactions in 2015

* The transactions may be recorded both as investment and divestment, given that, in some cases, they may be secondary buyout deals.


Fac Educacional, Fair Educacional, Famesul,

Sociedade Lageana Educacional, Sevita, Assevim, Sociedade

Educacional Leonardo da Vinci

Education

Treviso Empreendimentos e

Participações(Carlyle, Vinci Partners)


Grupo ABC Marketing and Advertising


Kinea Investimentos,


1.000,00(Approx.)

Somos EducaçãoEducation


Thunnus Participações (Tarpon Investimentos) Private Shareholders 563,40

Somos EducaçãoEducation


Thunnus Participações (Tarpon Investimentos)

Abrilpar Participações 414,22

ElogTransports,

Aviation and Logistics

EcoRodovias Infraestrutura e Logistica

Logística Brasil FIP (BRZ Investimentos) 214,00

Shopping Paralela Distribution and Retail

BRL II, Vinci FII (Vinci Partners) BR Malls 156,60

ElianeConstruction

(Materials and Machinery)

Kinea Investimentos Private Shareholders 150,00

West ShoppingDistribution and

RetailBRL II, Vinci FII (Vinci Partners)

BR Malls 113,20

MaderoTourism, Hotels and Restaurants

HSI - Hemisferio Sul Investimentos

- 88,00

Ducoco Food IndustryBRZ Investimentos(GP Investments)

- 85,00

Legal Advisors

Lobo & de Rizzo AdvogadosMattos Filho, Veiga Filho, Marrey Jr. e Quiroga AdvogadosDavis & GilbertPinheiro Neto AdvogadosSouza Cescon AdvogadosUlhôa Canto, Rezende e Guerra - AdvogadosBarbosa, Müssnich, AragãoStocche, Forbes, Padis, Filizzola, Clapis, Passaro, Meyer e Refinetti Sociedade de AdvogadosVeirano AdvogadosVinci Partners (In-house)BR Malls (In-house)Machado, Meyer, Sendacz e Opice AdvogadosPSP Investments (In-house)Mundie e Advogados

Financial Advisors

Banco BTG Pactual

Banco Itaú BBABanco Bradesco BBIVinci PartnersMoelis & Company BrasilBR Partners

Intermediary

Credit Suisse Brasil Corretora

Virtual Data Room

RR Donnelley & Sons



Most active subsectors in 2015

Most active subsectors for Private Equity


Largest investments by foreignPrivate Equity funds in Brazil

15 13

8

6 6 6

5 5

4 4 4 4 4

3 3

5.594,00

2.273,23

2.218,65

1.684,22

1.295,52

1.000,00

941,02

742,65

537,24

414,22

385,00

370,00

307,69

307,61

300,00

173,81

173,81

170,56

150,00

103,50

NUMBER OF DEALS

TOTAL VALUE (R$m)

Distribution and Retail Financial and Insurance

Healthcare, Hygiene, Medical Aestheticsand Cosmetics

Chemical and Chemical MaterialsMarketing and Advertising


Technology

Internet

Telecoms

Education

Food and Beverage

Food Industry



Mining



Electric Energy

Education




Oil and Gas

Telecoms


Food Industry

Food and Beverage



Biofuel

Ports

Airports

Internet

Construction (Materials and Machinery)



Rede D'Or São LuizHealthcare, Hygiene, Medical Aesthetics

and Cosmetics



1.750,00(Approx.)

Hidrovias do BrasilTransports, Aviation

and Logistics

P2Brasil, AIMCo, Blackstone, BNDESPar, International Finance

Corporation (IFC), BTO FIP, Temasek Holdings (Pátria Investimentos)

- 980,51

Pague MenosDistribution and

RetailGeneral Atlantic


600,11

Rede D'Or São LuizHealthcare, Hygiene, Medical Aesthetics

and CosmeticsCarlyle

Government of Singapore Investment Corporation

(GIC)

400,00(Approx.)

Integritas ParticipaçõesFinancial and

InsuranceCore Participações

(Advent International)

Bradseg Participações

(Banco Bradesco)

311,90

Legal Advisors

Skadden, Arps, Slate, Meagher & Flom US


Kirkland & Ellis US



Pinheiro Guimarães Advogados

BNDESPar (In-house)

Lefosse Advogados

Paul, Weiss, Rifkind, Wharton & Garrison

Demarest Advogados

Financial Advisors

Banco BTG Pactual


J.P. Morgan

G5 Evercore

Banco Itaú BBA

Banco Bradesco BBI




Foreign Private Equity acquisitions in Brazil

Countries with most Private Equity investments in Brazil


Exits by foreign Private Equity funds in Brazil

Countries with most Private Equity funds making exits in Brazil

*

20142015

20122013

16

2 2 2 1 1 1 1 1 1 1

19

2 2 3 0 1 2

0 0 0 0

14

2 0

5

0 0 2

0 1 1 0

25

0 2

4 2

0 1 0 0 0 0

5.41

1,11

742,

65

4.18

0,51

* 0

537,

24

980,

51

* * 24,6

7 704,

91

4.92

0,79

20,0

0

48,3

0

20,0

0

0 0 48,3

0

0 0 0 0

2.19

2,70

1.06

0,00

0

1.67

3,92

0 0

1.18

1,21

0 * * 0

3.01

8,28

0

497,

80

429,

08

0 0

362,

80

0 0 0 0

20142015

20122013

NUMBER OF ACQUISITIONS

TOTAL VALUE (R$m)

Non-disclosed value

United Stat

es

German

y

Singapore

United Kingdom

Bermuda

Colombia

Canad

a

Argentin

a

Luxembourg

Australi

a

Japan

United Stat

es

German

y

Singapore

United Kingdom

Bermuda

Colombia

Canad

a

Luxembourg

Australi

a

Japan

Argentin

a

5

1 1 1 1

4

0 0 0 0

3

1

0 0 0

3

0 0 0 0

20142015

20122013

20142015

201220134.

002,

93

* * 173,

81

11,0

0

4.25

4,10

0,00

0,00

0,00

0,00

151,

00

* 0,00

0,00

0,00

2.23

1,03

0,00

0,00

0,00

0,00

NUMBER OF EXITS

TOTAL VALUE (R$m)

United States Germany Colombia Canada Bermuda

United States Germany Colombia Canada Bermuda




Subsectors that attracted most foreign Private Equity


Private Equity - Brazilian vs. Foreign Investments

20142015

20122013

NUMBER OF INVESTMENTS

5

2

2

2

2

2

2

3

0

1

0

3

7

9

1

3

1

4

2

0

2

2

0

2



Food Industry

Chemical and ChemicalMaterials

Mining

Internet

65%35% BRAZILIANFOREIGN

TOTAL VALUE (R$m)

6.019,13

BRAZILIAN


8.622,43

FOREIGN

Brazil

VENTURE CAPITAL


M&A HANDBOOK 2016 VENTURE CAPITAL – BRAZILVENTURE CAPITAL – BRAZIL M&A HANDBOOK 2016

2015 Overview

Quarterly deal flow since 2012


Total value(R$m)

2015 132 1.043,85

2014 134 1.071,78

2013 152 1.210,16

2012 81 700,99

10 Largest Venture Capital transactions in 2015

Largest Venture Capital transactions in Brazil (excluding Cross-border)

10

18

21

32 31

35

40

46

34 32

38

30

44

32 28

28

0,00

100,00

200,00

300,00

400,00

500,00

600,00

0

5

10

15

20

25

30

35

40

45

50


2012 20142013 2015



Legal Advisors

Couto Silva Advogados

Derraik & Menezes Advogados



RBM Solutions Marketing and Advertising Salix Group - 20,00

Acesso Soluções

TechnologyDistribution and Retail

Private Shareholders Duxx Investimentos

- 12,09

Seekr Technology Cventures Primus -10,00

(Approx.)

Resultados Digitais

Marketing and Advertising Internet

FIP RPEV1BRAZIL (Redpoint Ventures )

- 7,10

aLavadeira Other ServicesCRP Empreendedor,

Cventures Primus- 6,40

Kickoff Internet Monashees Capital - 5,10

Ventrix Technology

Fundo Inovação Paulista (Desenvolve SP), FIP

Criatec II (Triaxis Capital)

- 5,00

Hive Digital Marketing

Marketing and Advertising Internet

Technology

FIP Criatec II (Triaxis Capital)

- 4,00

GenotypingHealthcare, Hygiene, Medical

Aesthetics and CosmeticsFundo Inovação Paulista

(Desenvolve SP)- 4,00

ChefsClub Internet Confrapar - 3,00



Most active subsectors in 2015

Subsectors most active for Venture Capital


10 Largest transactions by foreign Venture Capital funds in Brazil

74

45

15

11

10

10

9

8

5

5

610,84

313,22

175,56

128,66

92,30

79,67

60,28

21,77

18,53

18,49

NUMBER OF DEALS

TOTAL VALUE (R$m)

Internet

Technology




Education





Internet

Technology




Education


Real Estate



Legal Advisors

Private Advising GroupDias Carneiro, Arystóbulo, Flores, Sanches, Turkienicz, Amendola, Waisberg e Thomaz Bastos

KLA - Koury Lopes Advogados

Veirano Advogados

Campos, Fialho, Canabrava, Borja, Andrade, Salles Advogados


Motta, Fernandes Rocha Advogados


QMC Telecom Colombia, QMC Telecom Brasil, QMC Telecom

Mexico

TelecomsGrupo Santo Domingo,

Accel Partners

QMC Telecom

International537,24

99Taxis InternetQualcomm Ventures, Tiger Global Management, Monashees Capital

-125,00

(Approx.)

Psafe Tecnologia

Technologye.ventures, Pinnacle Ventures, FIP

RPEV1BRAZIL, Qihoo 360 Technology, Redpoint Ventures, Grupo Xangô

- 94,81

BelezanawebDistribution and Retail

InternetNot disclosed venture capital fund - 93,96

NubankFinancial and Insurance

TecnologyTiger Global Management, Sequoia

Capital, QED Investors, Kaszek Ventures- 90,00

LoggiInternet


Monashees Capital, Dragoneer Investment Group, Qualcomm Ventures

- 50,00

GetNinjas Internet Tiger Global Management - 40,00

WebRadar TechnologyQualcomm Ventures,

DGF FIPAC 2(DGF investimentos)

- 40,00

GeofusionTechnology


Intel Capital, DGF FIPAC 2 (DGF investimentos)

Criatec 34,00

ThirdLevel Technology MercadoLibre Commerce Fund - 32,68




Acquisitions by foreign buyers in Brazil

Countries with greatest number of Venture Capital funds investing in Brazil


Subsectors most targeted by foreignVenture Capital funds in Brazil

32

3431

12

7

7

9

6

5

4

4

4

29

7

5

2

1

0

0

0

3

13

2

2 3

1

1 4

20142015

20122013


Internet

Technology

Marketing andAdvertising

Education

Distribution andRetail

Consultancy, Auditand Engineering

Transport, Aviationand Logistics

30

12

4 2 2 2 1 1 1 1 1 1

19

10

6

0 2 2 3

0 1 1 0 0

28

3

13

0 0 3

0 0 0 1 0 0

27

8

4

0 2

0 0 1 0 0 0 0

20142015

20122013

599,

37

156,

45

39,3

38,6

5

6,00

101,

00

5,28

* 2,96

94,8

1

0,41

*

544,

17

470,

39

114,

34

373,

40

31,0

0

1,44

0

37,7

3

* 0 0

363,

81

6,7

134,

2

0 21,1

0

0 0 0

71,1

2

0 0

295,

22

81,3

5

61,0

6

0 0 0 * 0 0 * 0,00

0 0 0

*

20142015

20122013

Non-disclosed value

United Stat

es

Argen

tina

German

y Ja

pan

Singapor

e

United K

ingdom

France

Luxembou

rg

Hong K

ong

China

Estonia

India

NUMBER OF ACQUISITIONS

TOTAL VALUE (R$m)

United Stat

es

Argen

tina

German

y Ja

pan

Singapor

e

United K

ingdom

France

Luxembou

rg

Hong K

ong

China

Estonia

India

Brazil

48 TTR - Transactional Track Record - (www.TTRecord.com)

VENTURE CAPITAL – BRAZIL M&A HANDBOOK 2016


Venture Capital - Brazil-based vs. Foreign Investments

SECTORS&

SUBSECTORS

All values in this chapter (total number and total value of deals) take into account all deals and investments, including M&A, Private Equity and Venture Capital.

63%37%

659,13

483,68

TOTAL VALUE (R$m)


BRAZILIANFOREIGN

BRAZILIAN FOREIGN


M&A HANDBOOK 2016 SECTORS AND SUBSECTORS – BRAZILSECTORS AND SUBSECTORS – BRAZIL M&A HANDBOOK 2016

Most active subsectors in 2015 Energy and Renewable Energies

Total number of transactions by subsector in 2015

136

125

86

81

79

65

52

52

38

34

33

32

28

25

25

Technology

Internet


Distribution and Retail Consultancy, Audit and Engineering

Healthcare, Hygiene, Medical Aestheticsand Cosmetics

Marketing and Advertising Transport, Aviation and Logistics

Food Industry

Real Estate


Electric Energy

Education



9.719,14

9.624,42

9.328,42

7.435,32

6.391,99

5.815,46

3.746,04

3.667,18

3.606,59

3.231,60

3.100,08

3.099,11

2.950,36

2.883,88

2.747,06

2.714,14

2.658,74

2.329,76

1.809,70

1.712,22

Healthcare, Hygiene, Medical Aestheticsand Cosmetics Food Industry

Tobacco

Mining


Electric Energy


Oil and Gas

Education

Technology





Fashion and Textile


Real Estate

Internet



NUMBER OF DEALS

TOTAL VALUE (R$m)

32

9

6

2

2

1

1

0

0

Electric Energy

Oil and Gas

Wind Energy

Biofuel

Biomass

Solar Energy

Hydraulic Energy

Nuclear Energy

Geothermal Energy



Electric EnergyTotal number of transactions

Largest transactions

TOTAL34

2

21

TOTAL9

0

9

TOTAL6

0

6

TOTAL7

0

7

0

1

2

3

2

4

6

8

32

0

1

2

Private Equity

Venture Capital

Foreignacquisitions

in Brasil

Brazilian acquisitions

abroad

Distressed


Mid Market (≥ R$ 200m)

Smaller Market (< R$ 200m)

Private Equity

Venture Capital

Foreignacquisitions

in Brasil


abroad

Distressed




Private Equity

Venture Capital

Foreignacquisitions

in Brasil


abroad

Distressed




Private Equity

Venture Capital

Foreignacquisitions

in Brasil


abroad

Distressed




Oil and GasTotal number of transactions


TOTAL34

2

21

TOTAL9

0

9

TOTAL6

0

6

TOTAL7

0

7

0

1

2

3

2

4

6

8

32

0

1

2

Private Equity

Venture Capital

Foreignacquisitions

in Brasil


abroad

Distressed




Private Equity

Venture Capital

Foreignacquisitions

in Brasil


abroad

Distressed




Private Equity

Venture Capital

Foreignacquisitions

in Brasil


abroad

Distressed




Private Equity

Venture Capital

Foreignacquisitions

in Brasil


abroad

Distressed




Target Buyer Seller Value (R$m)

GaspetroMitsui Gás e Energia

do BrasilPetrobras 1.900,00

Açu Petróleo Oiltanking Prumo Logística 742,65

Consórcio - Bacia Sedimentar do Solimões

Rosneft Brazil HRT O&G 164,97

Legal Advisors


Morrison & Foerster US



Chediak Advogados

Veirano Advogados

DLA Piper Russia

Vinson & Elkins UK

Rosneft (In-house)

Rosneft Brazil (In-house)

PetroRio (In-house)

Vinson & Elkins

Vinson & Elkins UK

Financial Advisors

Banco Itaú BBA


1

2

3

1

2

COMPLETED

CANCELLED

COMPLETED

CANCELLED


Latin America Power SunEdisonP2Brasil, Banco BTG

Pactual, GMR Energía2.218,65(Approx.)

Nova Renova Energia, Salvador Holding TerraForm Global Renova Energia 1.477,00

TNE - Triunfo Negócios de Energia, Rio Verde Energia - Recife, Rio Canoas Energia

China Three Gorges Brasil

Triunfo Participações 970,00

Legal Advisors

Uría Menéndez Spain

Proskauer Rose

Ferrere

Akin Gump Strauss Hauer & Feld


Milbank, Tweed, Hadley & McCloy US

Veirano Advogados


Souza Cescon Advogados

Financial Advisors

PwC Spain

Banco BTG Pactual




Private Equity/Venture Capital Country Number of acquisitions

Barclays Natural Resource Investments (BNRI) United Kingdom 1

Private Equity / Venture Capital funds investing in subsector in 2015

1

2

3

Virtual Data Room

Intralinks



Wind EnergyTotal number of transactions

Top transactions

TOTAL34

2

21

TOTAL9

0

9

TOTAL6

0

6

TOTAL7

0

7

0

1

2

3

2

4

6

8

32

0

1

2

Private Equity

Venture Capital

Foreignacquisitions

in Brasil


abroad

Distressed




Private Equity

Venture Capital

Foreignacquisitions

in Brasil


abroad

Distressed




Private Equity

Venture Capital

Foreignacquisitions

in Brasil


abroad

Distressed




Private Equity

Venture Capital

Foreignacquisitions

in Brasil


abroad

Distressed




Real Estate and Construction


Nova Renova Energia, Salvador Holding TerraForm Global Renova Energia 1.477,00

Pacific Hydro Energia do Brasil State Power Investment IFM Investors410,46

(Approx.)

Geradora Eólica Itaguaçu da Bahia, Geradora Eólica Ventos de Santa Luiza, Geradora Eólica Ventos de Santa Madalena, Geradora Eólica Ventos de Santa Marcella, Geradora Eólica

Ventos de Santa Vera, Geradora Eólica Ventos de Santo Antonio, Geradora Eólica Ventos de

São Bento, Geradora Eólica Ventos de São Cirilo, Geradora Eólica Ventos de São João, Geradora

Eólica Ventos de São Rafael

Furnas(Eletrobras)

Salus - FIP ND

Financial Advisors

Akin Gump Strauss Hauer & Feld

Ferrere


Milbank, Tweed, Hadley & McCloy US

Uría Menéndez Spain

Veirano Advogados

Carey

Herbert Smith Freehills Australia

King & Wood Mallesons China

Philippi, Prietocarrizosa & Uría Chile

Vicente Bagnoli Advogados

Financial Advisors

Banco BTG Pactual



Credit Suisse Group

Santander Global Banking & Markets Spain

1

Virtual Data Room

Intralinks

2

3

COMPLETED

CANCELLED


34

13

Real Estate

Construction (Materialsand Machinery)




BRPR 47 Empreendimentos Imobiliá-rios e Participações

Brookfield Brasil BR Properties 1.279,00

Arraial do Cabo Empreendimentos Imobiliários

Franco da Rocha Investi-mentos Imobiliários

Cyrela Commercial Properties

236,00

São Bernardo Plaza Shopping CSHG Brasil Shopping FII Private Shareholders 144,00


Bienville Capital Management United States 1Kaszek Ventures Argentina 1

PointState Argentum United States 1

Real EstateTotal number of transactions



TOTAL36

2

TOTAL13

0

13

TOTAL33

0

TOTAL38

0

33

38

5

10

15

34

2 4 6 8

10 12

2 4 6 8

10 12

0

5

10

15

Private Equity

Venture Capital

Foreignacquisitions

in Brasil


abroad

Distressed




Private Equity

Venture Capital

Foreignacquisitions

in Brasil


abroad

Distressed




Private Equity

Venture Capital

Foreignacquisitions

in Brasil


abroad

Distressed




Private Equity

Venture Capital

Foreignacquisitions

in Brasil


abroad

Distressed




Legal Advisors

Duarte Garcia, Caselli Guimarães e Terra Advogados


PMKA Advogados


Financial Advisors

Banco BTG Pactual

Banco Itaú BBA

Construction (Materials and Machinery)Total number of transactions


TOTAL36

2

TOTAL13

0

13

TOTAL33

0

TOTAL38

0

33

38

5

10

15

34

2 4 6 8

10 12

2 4 6 8

10 12

0

5

10

15

Private Equity

Venture Capital

Foreignacquisitions

in Brasil


abroad

Distressed




Private Equity

Venture Capital

Foreignacquisitions

in Brasil


abroad

Distressed




Private Equity

Venture Capital

Foreignacquisitions

in Brasil


abroad

Distressed




Private Equity

Venture Capital

Foreignacquisitions

in Brasil


abroad

Distressed





Supremo Cimento NSOSPE Private Shareholders290,00

(Approx.)

Arraial do Cabo Empreendimentos Imobiliários

Franco da Rocha Investimentos Imobiliários

Cyrela Commercial Properties

236,00

Eliane Kinea Investimentos Private Shareholders 150,00


Kinea Investimentos Brazil 1

Legal Advisors

DMGSA - Domingues Sociedade de Advogados


Mattos Filho, Veiga Filho, Marrey Jr. e Quiroga AdvogadosMundie e Advogados

Financial Advisors

BNP Paribas Portugal

Banco Itaú BBA


1

2

3

COMPLETED

CANCELLED

1

2

3

COMPLETED

CANCELLED



Industry


38

33

25

21

14

12

8

3

3

1

1

Food Industry

Steel, Metallurgy andIndustrial Production

Chemical and ChemicalMaterials




Other Consumer Goods

Fashion and Textile

Aerospace and Aeronautical

Shipbuilding

Tobacco


Moy Park JBS Marfrig 4.851,59

GFS BRF Austria Private Shareholders 1.477,11

Nissin Miojo Nissin Foods Holdings Ajinomoto1.000,00(Approx.)

Food IndustryTotal number of transactions



TOTAL36

2

TOTAL13

0

13

TOTAL33

0

TOTAL38

0

33

38

5

10

15

34

2 4 6 8

10 12

2 4 6 8

10 12

0

5

10

15

Private Equity

Venture Capital

Foreignacquisitions

in Brasil


abroad

Distressed




Private Equity

Venture Capital

Foreignacquisitions

in Brasil


abroad

Distressed




Private Equity

Venture Capital

Foreignacquisitions

in Brasil


abroad

Distressed




Private Equity

Venture Capital

Foreignacquisitions

in Brasil


abroad

Distressed




Legal Advisors


Financial Advisors

Banco Bradesco BBI



Black River Asset United States 1

BRZ Investimentos Brazil 1

GTCR United States 1

Warburg Pincus United States 1

COMPLETED

CANCELLED

1

2

3




Rontan GDSI Private Shareholders 635,00

Gerdau Cosigua Gerdau Banco Itaú Unibanco443,00

(Approx.)

Gerdau Açominas GerdauBanco Itaú Unibanco,

ArcelorMittal Netherlands417,00

(Approx.)


Nexto Brazil 1

Steel, Metallurgy and Industrial ProductionTotal number of transactions



TOTAL36

2

TOTAL13

0

13

TOTAL33

0

TOTAL38

0

33

38

5

10

15

34

2 4 6 8

10 12

2 4 6 8

10 12

0

5

10

15

Private Equity

Venture Capital

Foreignacquisitions

in Brasil


abroad

Distressed




Private Equity

Venture Capital

Foreignacquisitions

in Brasil


abroad

Distressed




Private Equity

Venture Capital

Foreignacquisitions

in Brasil


abroad

Distressed




Private Equity

Venture Capital

Foreignacquisitions

in Brasil


abroad

Distressed




Legal Advisors


Financial Advisors

Banco Bradesco BBI


Gaspetro Mitsui Gás e Energia do Brasil Petrobras 1.900,00

Produquímica Compass Minerals Private Shareholders 452,00

Fertilizantes Heringer PCS Sales Private Shareholders 195,96

Chemical and Chemical MaterialsTotal number of transactions


1

TOTAL25

0

25

TOTAL22

1

21

TOTAL12

0

12

TOTAL15

14

2 4 6 8

10 12 14

2

4

6

8

2

4

6

8

1 2 3 4 5 6

Private Equity

Venture Capital

Foreignacquisitions

in Brasil


abroad

Distressed




Private Equity

Venture Capital

Foreignacquisitions

in Brasil


abroad

Distressed




Private Equity

Venture Capital

Foreignacquisitions

in Brasil


abroad

Distressed




Private Equity

Venture Capital

Foreignacquisitions

in Brasil


abroad

Distressed





Aqua Capital Brazil 3

AFLG Investments United States 1

NGP Energy Capital Management United States 1

Performa Investimentos Brazil 1


Legal Advisors

Pinheiro Neto AdvogadosMorrison & Foerster US




Demarest Advogados

Jones Day US

Financial Advisors

Banco Itaú BBA

Rabobank Group

COMPLETED

CANCELLED

1

2

3

COMPLETED

CANCELLED

1

2

3




Inpa Embalagens Smurfit Kappa Private Shareholders 805,00

Arjo Wiggins Arconvert Brasil Sequana Group 286,05

Ingecon Marelli Private Shareholders100,00

(Approx.)

Glass, Ceramic, Paper, Plastics, Wood and TimberTotal number of transactions


1

TOTAL25

0

25

TOTAL22

1

21

TOTAL12

0

12

TOTAL15

14

2 4 6 8

10 12 14

2

4

6

8

2

4

6

8

1 2 3 4 5 6

Private Equity

Venture Capital

Foreignacquisitions

in Brasil


abroad

Distressed




Private Equity

Venture Capital

Foreignacquisitions

in Brasil


abroad

Distressed




Private Equity

Venture Capital

Foreignacquisitions

in Brasil


abroad

Distressed




Private Equity

Venture Capital

Foreignacquisitions

in Brasil


abroad

Distressed





Pharmaceutical, Parapharmaceutical and CosmeticsTotal number of transactions

1

TOTAL25

0

25

TOTAL22

1

21

TOTAL12

0

12

TOTAL15

14

2 4 6 8

10 12 14

2

4

6

8

2

4

6

8

1 2 3 4 5 6

Private Equity

Venture Capital

Foreignacquisitions

in Brasil


abroad

Distressed




Private Equity

Venture Capital

Foreignacquisitions

in Brasil


abroad

Distressed




Private Equity

Venture Capital

Foreignacquisitions

in Brasil


abroad

Distressed




Private Equity

Venture Capital

Foreignacquisitions

in Brasil


abroad

Distressed





Neodent Straumann Private Shareholders 680,00

Genix Qualicaps Private Shareholders 193,00

Neolatina Neo Química Private Shareholders, Toscana II FIP 60,00


1

2

3

Legal Advisors

Benício Advogados


Souza Cescon Advogados3

2

2Legal Advisors

Veirano Advogados

Smurfit Kappa (In-house)


Chiomenti Studio Legale


Sequana Group (In-house)


Financial Advisors

Banco Itaú BBA

G5 Evercore

Guapo Capital Group

Neo Investimentos

Virtual Data Room

Intralinks


Buildit Estonia 1

GTCR United States 1

Warburg Pincus United States 1

COMPLETED

CANCELLED

1

2

3

COMPLETED

CANCELLED




CRP Investimentos Brazil 2



Rontan GDSI Private Shareholders 635,00

FBA Fundicao Brasileira de Alumínio Latasa Reciclagem Rontan 227,40

Affinia Automotiva Autopartners Participações Affinia Group 146,30

Automotive and Recreational VehiclesTotal number of transactions


1

TOTAL25

0

25

TOTAL22

1

21

TOTAL12

0

12

TOTAL15

14

2 4 6 8

10 12 14

2

4

6

8

2

4

6

8

1 2 3 4 5 6

Private Equity

Venture Capital

Foreignacquisitions

in Brasil


abroad

Distressed




Private Equity

Venture Capital

Foreignacquisitions

in Brasil


abroad

Distressed




Private Equity

Venture Capital

Foreignacquisitions

in Brasil


abroad

Distressed




Private Equity

Venture Capital

Foreignacquisitions

in Brasil


abroad

Distressed




Legal Advisors



Financial Advisors

Banco Bradesco BBI

BR Partners

IGC Partners Assessoria Empresarial

1 2 3

33

3

Natural Resources


16

14

3

Mining

Agriculture, Agribusiness,Farming and Fishing

Forestry

COMPLETED

CANCELLED

2

3

1




Metropolis Capital Markets Germany 1

Mubadala United Arab Emirates 1

Pacific Road Capital Management Australia 1



MBR - Minerações Brasileiras Reunidas

FIP Multisetorial Plus II Vale - Companhia Vale do Rio Doce 4.000,00

Congonhas Minérios CSNChina Steel Corporation, Nisshin Steel, Kobe Steel, Posco Group - Pohang Iron and Steel

Company, JFE Steel Corporation, Itochu2.620,02

Gerdau Açominas GerdauBanco Itaú Unibanco,

ArcelorMittal Netherlands417,00

(Approx.)

MiningTotal number of transactions


TOTAL7

0

7

TOTAL14

0

14

TOTAL87

1

TOTAL16

0

16

1

2

3

1 2 3 4 5 6

1 2 3 4 5 6

5

10

15

20

25

86

Private Equity

Venture Capital

Foreignacquisitions

in Brasil


abroad

Distressed




Private Equity

Venture Capital

Foreignacquisitions

in Brasil


abroad

Distressed




Private Equity

Venture Capital

Foreignacquisitions

in Brasil


abroad

Distressed




Private Equity

Venture Capital

Foreignacquisitions

in Brasil


abroad

Distressed





GFS BRF Austria Private Shareholders 1.477,11

Fasa Corpesca do Brasil VJF&F Participações 171,59

NE Agrícola, DN Agrícola Janus Brasil Participações Private Shareholders 141,00



Axial Participações Brazil 1

Black River Asset United States 1


Agriculture, Agribusiness, Farming and FishingTotal number of transactions


TOTAL7

0

7

TOTAL14

0

14

TOTAL87

1

TOTAL16

0

16

1

2

3

1 2 3 4 5 6

1 2 3 4 5 6

5

10

15

20

25

86

Private Equity

Venture Capital

Foreignacquisitions

in Brasil


abroad

Distressed




Private Equity

Venture Capital

Foreignacquisitions

in Brasil


abroad

Distressed




Private Equity

Venture Capital

Foreignacquisitions

in Brasil


abroad

Distressed




Private Equity

Venture Capital

Foreignacquisitions

in Brasil


abroad

Distressed




Financial Advisors


Legal Advisors




CSN (In-house)



Financial Advisors

Banco Bradesco BBI

Banco Itaú BBA

1

1

2

2

2

Legal Advisors

Rui Celso Reali Fragoso e Advogados AssociadosStocche, Forbes, Padis, Filizzola, Clapis, Passaro, Meyer e Refinetti Sociedade

Janus Brasil Participações (In-house)

3

3

3

COMPLETED

CANCELLED

1

2

3

COMPLETED

CANCELLED

1

2

3



Services and Distribution


86

81

79

65

52

52

28

25

20

19

7

6

5

5

5

3

3

2

1

0

0

0




Healthcare, Hygiene, MedicalAesthetics and Cosmetics



Education


Food and Beverage


Cars, Motorcycles and Other Vehicles

Sports and Leisure

Event Production and Management

Waste Management, Pollutionand Recycling


Water and Sanitation

Other Services

Security and Private Arms, Ammunitionand Explosives

Luxury Goods and Services

Printing and Binding

Funeral Services

Courier

Financial and InsuranceTotal number of transactions


TOTAL7

0

7

TOTAL14

0

14

TOTAL87

1

TOTAL16

0

16

1

2

3

1 2 3 4 5 6

1 2 3 4 5 6

5

10

15

20

25

86

Private Equity

Venture Capital

Foreignacquisitions

in Brasil


abroad

Distressed




Private Equity

Venture Capital

Foreignacquisitions

in Brasil


abroad

Distressed




Private Equity

Venture Capital

Foreignacquisitions

in Brasil


abroad

Distressed




Private Equity

Venture Capital

Foreignacquisitions

in Brasil


abroad

Distressed




22

2

2


Recovery do Brasil Consultoria

Banco Itaú Unibanco Banco BTG Pactual 640,00

Tempo Participações Hill Valley ParticipaçõesÉvora FIP, Private Shareholders, Brasil Capital,

Tarpon Investimentos, Private Equity Partners B, Private Equity Partners A

318,57

Integritas Participações

Core Participações(Advent international)

Bradseg Participações 311,90

Private Equity/Venture Capital

Country Nº of acquisitions

Advent International United Kingdom 2Alothon Group Brazil 1

Bain Capital United States 1Berrini Ventures Brazil 1

Blackstone United States 1Carlyle United States 2

Cventures Primus Brazil 1Fundepar Brazil 1

Kaszek Ventures Argentina 2


Country Nº of acquisitions

Monashees Capital Brazil 1Pátria Investimentos Brazil 1

Plural Capital Brazil 1QED Investors United States 1

Redpoint e.Ventures Brazil 1Sequoia Capital United States 1

Tiger Global Management

United States 1


Legal Advisors


Banco Itaú Unibanco (In-house)


Vieira Rezende Advogados



Financial Advisors

Banco BTG Pactual

Banco Barclays BrazilRothschild

Banco Bradesco BBI1

1

11

2

2

3

1

2

3

COMPLETED

CANCELLED



Distribution and RetailTotal number of transactions

5 10 15 20 25 30

TOTAL81

0

81

5

10

15

20

25

TOTAL79

0

79

2 4 6 8

10 12

TOTAL65

0

65

TOTAL52

0

52

0

5

10

15

20

25

Private Equity

Venture Capital

Foreignacquisitions

in Brasil


abroad

Distressed




Private Equity

Venture Capital

Foreignacquisitions

in Brasil


abroad

Distressed




Private Equity

Venture Capital

Foreignacquisitions

in Brasil


abroad

Distressed




Private Equity

Venture Capital

Foreignacquisitions

in Brasil


abroad

Distressed





Pague Menos General Atlantic Private Shareholders 600,11

Capgemini Brasil CapGemini France

Private Shareholders, SerPartners, Braxis Tecnologia da Informação, União Participações, Cristal Delaware, Nextgenb, Bds Technology, JLR, Infors Investimentos,

Cpm Holdings

476,83

Grupo Ação Ingram Micro Brasil Private Shareholders 189,00


1

2

3



500Startups United States 1


DGF investimentos Brazil 1

Duxx Investimentos Brazil 1

e.Bricks Digital Brazil 1

F2 investimentos Brazil 1

General Atlantic United States 1

GP Investments Bermuda 1

HIG Capital United States 1

Lumia Capital United States 1

Monashees Capital Brazil 1

Nexto Brazil 1

NGP Energy Capital Management United States 1

Pátria Investimentos Brazil 1

PSP Investments Canada 4

Qualcomm Ventures United States 2

Quasar Ventures Argentina 1

Riverwood Capital United States 1

Triaxis Capital Brazil 2

Vinci Partners Brazil 4

Wayra Brasil Brazil 1Financial Advisors

Banco Itaú BBABanco Bradesco BBI

Legal Advisors

Mattos Filho, Veiga Filho, Marrey Jr. e Quiroga AdvogadosPaul, Weiss, Rifkind, Wharton & Garrison

Lefosse Advogados



Veirano Advogados

Bruchou, Fernández Madero & Lombardi

Dentons Cárdenas

2

2

2

2

3

3

3

3

3

3

1

31

1

3

3

3

3

3

31 Banco Credit Suisse Brazil

CareyEstudio Echecopar

Gómez-Pinzón Zuleta Abogados

Guyer & Regules

Pérez, Bustamante & Ponce AbogadosRebaza, Alcázar & De Las Casas Abogados FinancierosSouza Cescon Advogados

COMPLETED

CANCELLED



Consultancy, Audit and EngineeringTotal number of transactions

5 10 15 20 25 30

TOTAL81

0

81

5

10

15

20

25

TOTAL79

0

79

2 4 6 8

10 12

TOTAL65

0

65

TOTAL52

0

52

0

5

10

15

20

25

Private Equity

Venture Capital

Foreignacquisitions

in Brasil


abroad

Distressed




Private Equity

Venture Capital

Foreignacquisitions

in Brasil


abroad

Distressed




Private Equity

Venture Capital

Foreignacquisitions

in Brasil


abroad

Distressed




Private Equity

Venture Capital

Foreignacquisitions

in Brasil


abroad

Distressed





Healthcare, Hygiene, Medical Aesthetics and CosmeticsTotal number of transactions

5 10 15 20 25 30

TOTAL81

0

81

5

10

15

20

25

TOTAL79

0

79

2 4 6 8

10 12

TOTAL65

0

65

TOTAL52

0

52

0

5

10

15

20

25

Private Equity

Venture Capital

Foreignacquisitions

in Brasil


abroad

Distressed




Private Equity

Venture Capital

Foreignacquisitions

in Brasil


abroad

Distressed




Private Equity

Venture Capital

Foreignacquisitions

in Brasil


abroad

Distressed




Private Equity

Venture Capital

Foreignacquisitions

in Brasil


abroad

Distressed




Largest transactionsTarget Buyer Seller Value

(R$m)Recovery do Brasil

ConsultoriaBanco Itaú Unibanco Banco BTG Pactual 640,00

Capgemini Brasil CapGemini France

Private Shareholders, SerPartners, Braxis Tecnologia da Informação, União Participações, Cristal Delaware, Nextgenb, Bds Technology, JLR, Infors Investimentos,

Cpm Holdings

476,83

Grupo AçãoIngram Micro

Brasilávea Investimentos

Private Shareholders 189,00

Private Equity/Venture Capital Country Number of acquisitionsAccion's Frontier Investments United States 1

Cventures Primus Brazil 2Gávea Investimentos Brazil 1

Kaszek Ventures Argentina 3Monashees Capital Brazil 1

Plural Capital Brazil 1Redpoint e.Ventures Brazil 3


1

2

3

Financial Advisors

Banco Itaú BBA

Banco BTG Pactual


J.P. Morgan


Rede D'Or São LuizGovernment of Singapore

Investment Corporation (GIC)Private Shareholders, BTG

Pactual Brazil Investment Fund I3.200,00(Approx.)

Rede D'Or São Luiz Pacific RDSL ParticipaçõesBanco BTG Pactual, BTG Pactual

Participations2.380,00

Rede D'Or São LuizCarlyle Partners VI, FBIE FIP II,

Carlyle South America Buyout Fund-

1.750,00(Approx.)



Bain Capital United States 1Berrini Ventures Brazil 5

Carlyle United States 2Fundo Inovação Paulista Brazil 1

Joá Investimentos Brazil 1Pátria Investimentos Brazil 1

Performa Investimentos Brazil 1Vox Capital Brazil 3

Legal Advisors

Rede D´Or São Luiz


Demarest Advogados


Kirkland & Ellis US

Mattos Filho, Veiga Filho, Marrey Jr. e Quiroga AdvogadosSkadden, Arps, Slate, Meagher & Flom US

3

3

3

1

1

2

3

3

3

3

1

1

1

1

2

2

2

1

2

3

Financial Advisors

Banco BTG Pactual Banco Bradesco BBI Banco Credit Suisse Brazil

Legal Advisors

Banco BTG Pactual (In-house) Veirano Advogados Estudio EchecoparBanco Itaú Unibanco (In-house) Lefosse Advogados Souza, Cescon, Barrieu & Flesch

AdvogadosMachado, Meyer, Sendacz e Opice Advogados

Guyer & Regules Pérez Alati, Grondona, Benites, Arntsen & Martinez de Hoz

Vieira Rezende Advogados Pérez, Bustamante & Ponce Abogados Dentons CárdenasPinheiro Neto Advogados Bruchou, Fernández Madero & Lombardi Rebaza, Alcázar & De Las Casas

Abogados FinancierosSkadden, Arps, Slate, Meagher & Flom US

Gómez-Pinzón Zuleta Abogados Carey

21

1

1

1

1

2

2

2

3

3

3

3

3

3

3

3

3

3

3

3

COMPLETED

CANCELLED

COMPLETED

CANCELLED



Marketing and AdvertisingTotal number of transactions

5 10 15 20 25 30

TOTAL81

0

81

5

10

15

20

25

TOTAL79

0

79

2 4 6 8

10 12

TOTAL65

0

65

TOTAL52

0

52

0

5

10

15

20

25

Private Equity

Venture Capital

Foreignacquisitions

in Brasil


abroad

Distressed




Private Equity

Venture Capital

Foreignacquisitions

in Brasil


abroad

Distressed




Private Equity

Venture Capital

Foreignacquisitions

in Brasil


abroad

Distressed




Private Equity

Venture Capital

Foreignacquisitions

in Brasil


abroad

Distressed





Transports, Aviation and LogisticsTotal number of transactions

TOTAL25

0

25

TOTAL28

0

28

TOTAL53

1

52

TOTAL20

0

20

5

10

15

20

25

2 4 6 8

10 12 14

1 2 3 4 5 6

1

2

3

4

Private Equity

Venture Capital

Foreignacquisitions

in Brasil


abroad

Distressed




Private Equity

Venture Capital

Foreignacquisitions

in Brasil


abroad

Distressed




Private Equity

Venture Capital

Foreignacquisitions

in Brasil


abroad

Distressed




Private Equity

Venture Capital

Foreignacquisitions

in Brasil


abroad

Distressed





Cravath, Swaine & MooreDemarest AdvogadosFerrereGalicia AbogadosGarrigues MexicoRitch MuellerTozziniFreire AdvogadosTrench, Rossi e Watanabe AdvogadosUBM (In-house)

Financial Advisorss

Banco Itaú BBAMoelis & Company Brazil


Grupo ABCDas Brasil Serviços

de MarketingKinea Investimentos, Private Shareholders

1.000,00(Approx.)

OUTFRONT Media Brazil, OUTFRONT Media Argentina, Vendor, OUTFRONT Media Uruguay,

OUTFRONT Media ChileCorameq OUTFRONT Media 296,21

Hospitalar Feiras, Congresos eEmpreendimentos

UBM Brazil Private Shareholders 150,00

Private Equity/ Venture Capital que investiram no Subsector em 2015

Private Equity/Venture Capital Country Nº of

acquisitions500Startups United States 1

Astella Investimentos Brazil 1Berrini Ventures Brazil 1

DGF Investimentos Brazil 1Digital News Venture United States 1

e.Bricks Digital Brazil 3Fundepar Brazil 1

HIG Capital United States 1


acquisitionsInitial Capital Brazil 1Intel Capital United States 1

Redpoint e.Ventures Brazil 2Rhodium Capital Singapure 1

Triaxis Capital Brazil 1Victoria Capital

Partners Argentina 2

Salix Group Brazil 1

Legal Advisors

Davis & GilbertPinheiro Neto AdvogadosSouza Cescon AdvogadosUlhôa Canto, Rezende e Guerra - AdvogadosAllende & Brea AbogadosBaker & McKenzie US Blanco & Etcheverry AbogadosClaro y Cía. Abogados

2

2

2

2

2

2

2

2

2

2

2

3

3

1

1

1

1

1

3

3

1 Citigroup Global MarketsDeloitte Brazil

1

2

3

Financial Advisors

G5 Evercore


Azul Linhas Aéreas HNA Group Azul Holding Brazil 1.670,97

Hidrovias do BrasilTemasek Holdings, BTO FIP, International

Finance Corporation (IFC), BNDESPar, Blackstone, AIMCo, P2Brasil

- 980,51

NovaAgri Toyota Tsusho CorporationPrivate Shareholders,

P2Brasil704,91


acquisitions Dragoneer

Investment Group United States 1

Blackstone United States 1

Equity International United States 1Kaszek Ventures Argentina 1

Kima Ventures France 1


acquisitionsLaSalle Investment

Management United States 1


Pátria Investimentos Brazil 1


Solace Venture I Brazil 1

Valor Capital Group United States 2


Legal Advisors

Pinheiro Neto AdvogadosShearman & Sterling Sidley Austin USTozziniFreire AdvogadosLefosse AdvogadosBNDESPar (In-house)


Pinheiro Guimarães AdvogadosBaker & McKenzie JapanLobo & de Rizzo AdvogadosTrench, Rossi e Watanabe Advogados

2

2

2

2

2

2

3

3

1

1

1

1

3

3

1

2

3

Morgan Stanley Brasil

COMPLETED

CANCELLED

COMPLETED

CANCELLED



Media, Multimedia and EditorialTotal number of transactions

TOTAL25

0

25

TOTAL28

0

28

TOTAL53

1

52

TOTAL20

0

20

5

10

15

20

25

2 4 6 8

10 12 14

1 2 3 4 5 6

1

2

3

4

Private Equity

Venture Capital

Foreignacquisitions

in Brasil


abroad

Distressed




Private Equity

Venture Capital

Foreignacquisitions

in Brasil


abroad

Distressed




Private Equity

Venture Capital

Foreignacquisitions

in Brasil


abroad

Distressed




Private Equity

Venture Capital

Foreignacquisitions

in Brasil


abroad

Distressed





EducationTotal number of transactions

TOTAL25

0

25

TOTAL28

0

28

TOTAL53

1

52

TOTAL20

0

20

5

10

15

20

25

2 4 6 8

10 12 14

1 2 3 4 5 6

1

2

3

4

Private Equity

Venture Capital

Foreignacquisitions

in Brasil


abroad

Distressed




Private Equity

Venture Capital

Foreignacquisitions

in Brasil


abroad

Distressed




Private Equity

Venture Capital

Foreignacquisitions

in Brasil


abroad

Distressed




Private Equity

Venture Capital

Foreignacquisitions

in Brasil


abroad

Distressed





Intermediary

Credit Suisse Brasil Corretora3


Fac Educacional, Fair Educacional, Famesul, Sociedade Lageana Educacional, Sevita, Assevim, Sociedade Educacional

Leonardo da Vinci

Treviso Empreendimentos e

Participações (Carlyle, Vinci Partners)

Kroton Educacional

1.105,00

Ibmec DeVryBurnside Strategies, Everett

Group, Verus Holdings,Private Shareholders

717,00

Somos EducaçãoThunnus Participações (Tarpon Investimentos)




Country Number of acquisitions


Accel Partners Brazil 1

Advent International United Kingdom 1

Amadeus Capital United Kingdom 1

Bozano Investimentos Brazil 1Carlyle United States 1

Copacabana House Ventures Brazil 1

e.Bricks Digital Brazil 1e.ventures United States 1


Country Number of acquisitions

Felicis Ventures United States 1Grupo Xangô Brazil 1

Monashees Capital Brazil 1Omidyar Network United States 2

Redpoint e.Ventures Brazil 1Tarpon Investimentos Brazil 2Valor Capital Group United States 1

Vinci Partners Brazil 1Vox Capital Brazil 1

Legal Advisors

Lobo & de Rizzo AdvogadosMattos Filho, Veiga Filho, Marrey Jr. e Quiroga Advogados

Halembeck Barros e Sicherle Advogados


Devry (In-house)

Barbosa, Müssnich, Aragão3

Financial Advisors

Banco Bradesco BBI

Banco BTG PactualBanco Itaú BBAVinci Partners

1

1

1

1 1

1

2

2

2

1

2

3


Saraiva Educação Editora Ática Livraria Saraiva 725,00

Somos EducaçãoThunnus Participações(Tarpon Investimentos)


Somos EducaçãoThunnus Participações(Tarpon Investimentos)


Legal Advisors

Mattos Filho, Veiga Filho, Marrey Jr. e Quiroga AdvogadosPinheiro Neto Advogados



Stocche, Forbes, Padis, Filizzola, Clapis, Passaro, Meyer e Refinetti Sociedade de Advogados

Financial Advisors


Goldman Sachs BrazilBanco Itaú BBA

1

1

1

1

1

2

2

3

3

3


Digital News Ventures United States 1

e.Bricks Digital Brazil 1

Tarpon Investimentos Brazil 2


1

2

3

Intermediary

Credit Suisse Brasil Corretora

COMPLETED

CANCELLED

COMPLETED

CANCELLED



Tourism, Hotels and RestaurantsTotal number of transactions

TOTAL14

1

14

1

2

3

4

TOTAL19

0

19

TOTAL9

0

9

TOTAL125

0

125

TOTAL136

0

136

2

4

6

8

10 20 30 40 50 60

20

40

60

80

0

1

2

3

Private Equity

Venture Capital

Foreignacquisitions

in Brasil


abroad

Distressed




Private Equity

Venture Capital

Foreignacquisitions

in Brasil


abroad

Distressed




Private Equity

Venture Capital

Foreignacquisitions

in Brasil


abroad

Distressed




Private Equity

Venture Capital

Foreignacquisitions

in Brasil


abroad

Distressed




Private Equity

Venture Capital

Foreignacquisitions

in Brasil


abroad

Distressed





Food and BeverageTotal number of transactions

TOTAL25

0

25

TOTAL28

0

28

TOTAL53

1

52

TOTAL20

0

20

5

10

15

20

25

2 4 6 8

10 12 14

1 2 3 4 5 6

1

2

3

4

Private Equity

Venture Capital

Foreignacquisitions

in Brasil


abroad

Distressed




Private Equity

Venture Capital

Foreignacquisitions

in Brasil


abroad

Distressed




Private Equity

Venture Capital

Foreignacquisitions

in Brasil


abroad

Distressed




Private Equity

Venture Capital

Foreignacquisitions

in Brasil


abroad

Distressed




Top transactions

2

2

3

3

2

3

Legal Advisors

Jones Day BrazilJones Day US

Mattos Filho, Veiga Filho, Marrey Jr. e Quiroga AdvogadosSimpson Thacher & Bartlett US



MNA - Miguel Neto Advogados

Financial Advisors

Banco Itaú BBA

FG Agro

G5 Evercore


Axial Participações Brazil 1

Fundo Innova Capital Brazil 1

Península Participações Brazil 2


Carrefour Brazil Península II FIP Carrefour370,00

(Approx.)

Grupo Sinagro UPL (United Phosphorus Limited) Private Shareholders ND

Ouribom ParticipaçõesCafé Três Corações(Grupo 3 Corações)

Itamaraty(J. Marino)

ND


1

1

1

1

1

1

1

Legal Advisors

Campos Ferreira, Sá Carneiro & AssociadosCascione, Pulino, Boulos & Santos AdvogadosCastro, Barros, Sobral, Gomes AdvogadosCCA-OntierCuatrecasas, Gonçalves Pereira BrazilCuatrecasas, Gonçalves Pereira PortugalPLMJMinor Continental Holding Luxembourg (In-house)

Wachtell, Lipton, Rosen & KatzMarval O´Farrel & MairalSimpson Thacher & Bartlett US TozziniFreire AdvogadosAmaral Gurgel AdvogadosDavis Polk US Mattos Filho, Veiga Filho, Marrey Jr. e Quiroga Advogados


Insight Venture Partners United States 1

Nexxus Capital Mexico 1


Marinoteis, Hotéis Tivoli, Pojuca

Minor Continental Holding Luxembourg

Gespatrimónio Rendimento, Rioforte Brasil 1.281,68

Decolar.com Expedia Private Shareholders 847,11

Ingresso.com Fandango 8M Participações 280,00


Financial Advisors

Haitong Bank PortugalG5 Evercore

2

2

2

2

2

3

31

1

1

1

1

1

1

1

1

3

3

1

2

3

COMPLETED

CANCELLED

COMPLETED

CANCELLED



Technology and Telecoms


136

125

14

5

2

Technology

Internet

Telecoms

Electronics

Biotechnology

TechnologyTotal number of transactions

TOTAL14

1

14

1

2

3

4

TOTAL19

0

19

TOTAL9

0

9

TOTAL125

0

125

TOTAL136

0

136

2

4

6

8

10 20 30 40 50 60

20

40

60

80

0

1

2

3

Private Equity

Venture Capital

Foreignacquisitions

in Brasil


abroad

Distressed




Private Equity

Venture Capital

Foreignacquisitions

in Brasil


abroad

Distressed




Private Equity

Venture Capital

Foreignacquisitions

in Brasil


abroad

Distressed




Private Equity

Venture Capital

Foreignacquisitions

in Brasil


abroad

Distressed




Private Equity

Venture Capital

Foreignacquisitions

in Brasil


abroad

Distressed




Legal Advisors



Stocche, Forbes, Padis, Filizzola, Clapis, Passaro, Meyer e Refinetti Sociedade de Advogados



Veirano Advogados


Financial Advisors

Banco BTG Pactual

Merrill Lynch Brazil

Banco Bradesco BBI

Banco Itaú BBA


Bematech Makira II - 549,90

Capgemini Brasil

CapGemini France

Private Shareholders, SerPartners, Braxis Tecnologia da Informação, União Participações, Cristal Delaware, Nextgenb,

Bds Technology, JLR, Infors Investimentos, Cpm Holdings476,83

Fundamentur Valid Spain Private Shareholders 354,49

2

2

2

1

1

3

1

1

1

3

2

1

2

3

COMPLETED

CANCELLED





InternetTotal number of transactions

TOTAL14

1

14

1

2

3

4

TOTAL19

0

19

TOTAL9

0

9

TOTAL125

0

125

TOTAL136

0

136

2

4

6

8

10 20 30 40 50 60

20

40

60

80

0

1

2

3

Private Equity

Venture Capital

Foreignacquisitions

in Brasil


abroad

Distressed




Private Equity

Venture Capital

Foreignacquisitions

in Brasil


abroad

Distressed




Private Equity

Venture Capital

Foreignacquisitions

in Brasil


abroad

Distressed




Private Equity

Venture Capital

Foreignacquisitions

in Brasil


abroad

Distressed




Private Equity

Venture Capital

Foreignacquisitions

in Brasil


abroad

Distressed




Legal Advisors

Wachtell, Lipton, Rosen & KatzMarval O´Farrel & Mairal

Simpson Thacher & Bartlett US


Baker & McKenzie US

Davis Polk US

Trench, Rossi e Watanabe Advogados

Veirano Advogados

Financial Advisors

Morgan Stanley


Decolar.com Expedia Private Shareholders 847,11

Hotel Urbano Priceline - 188,91

NetshoesRiverwood Capital, International Finance

Corporation (IFC)- 140,56


2

2

2

2

2

1

1

1

1

1

2

3

Private Equity/Venture Capital Country Number of acquisitions2bCapital Brazil 1


Astella Investimentos Brazil 1

Bambuza Capital Brazil 1

Berrini Ventures Brazil 2

Brasil Aceleradora de Startups FIP Brazil 1

Cventures Primus Brazil 2

DGF investimentos Brazil 3

DLM Private Equity Brazil 1

Duxx Investimentos Brazil 1

e.Bricks Digital United States 1

e.ventures United States 1

Fundepar Brazil 1

Fundo Inovação Paulista Brazil 2

Grupo Xangô Brazil 1

Intel Capital United States 1

Invest Tech Brazil 2

Kaszek Ventures Argentina 4

MercadoLibre Commerce Fund Argentina 1


Performa Investimentos Brazil 1

Pinnacle Ventures United States 1

QED Investors United States 1


Redpoint e.Ventures Brazil 3

Redpoint Ventures United States 2

Riverwood Capital United States 1

S22 Capital Brazil 1

Sequoia Capital United States 1

SP Ventures Brazil 2

Estarte.me Brazil 1

Tiger Global Management United States 1

Triaxis Capital Brazil 4

Triple Seven Accelerator Brazil 1

Valor Capital Group United States 2

Vox Capital Brazil 3

WOW Brazil 2

Virtual Data Room

Intralinks2

COMPLETED

CANCELLED



TelecomsTotal number of transactions

COMPLETED

CANCELLED

TOTAL14

1

14

1

2

3

4

TOTAL19

0

19

TOTAL9

0

9

TOTAL125

0

125

TOTAL136

0

136

2

4

6

8

10 20 30 40 50 60

20

40

60

80

0

1

2

3

Private Equity

Venture Capital

Foreignacquisitions

in Brasil


abroad

Distressed




Private Equity

Venture Capital

Foreignacquisitions

in Brasil


abroad

Distressed




Private Equity

Venture Capital

Foreignacquisitions

in Brasil


abroad

Distressed




Private Equity

Venture Capital

Foreignacquisitions

in Brasil


abroad

Distressed




Private Equity

Venture Capital

Foreignacquisitions

in Brasil


abroad

Distressed




Top transactions


Private Equity/Venture Capital Country Number of acquisitions Accel Partners Brazil 1

e.ventures United States 1500Startups United States 4

Accion's Frontier Investments United States 1Amadeus Capital United Kingdom 1

Astella Investimentos Brazil 3Astellas Pharma Japan 1Berrini Ventures Brazil 4

Bonzano Investimentos Brazil 1Confrapar Brazil 1

Copacabana House Ventures Brazil 1Cventures Primus Brazil 1

DGF investimentos Brazil 2Dragoneer Investment Group United States 1

e.Bricks Digital United States 2e.Ventures Brazil 1Estarte.me Brazil 2

F2 investimentos Brazil 1Felicis Ventures United States 1

Fundepar Brazil 1Global Founders Capital Germany 1

GOA Investments India 1Grow Ventures Brazil 1Grupo Xangô Brazil 1HIG Capital United States 1

Initial Capital Brazil 1Insight Venture Partners United States 1

Invest Tech Brazil 2Kaszek Ventures Argentina 5

Lumia Capital United States 1Monashees Capital Brazil 8Omidyar Network United States 2

Performa Investimentos Brazil 1Plural Capital Brazill 1

Qualcomm Ventures United States 4Quasar Ventures Argentina 1

Redpoint e.Ventures Brazil 8Redpoint Ventures United States 1Rhodium Capital Singapure 1

Ribbit Capital United States 2Rigi Ventures Germany 1

Riverwood Capital United States 2Rocket Internet Germany 2

S22 Capital Brazil 1Tiger Global Management United States 5

Triaxis Capital Brazil 2uMov.Me Brazil 2

Valar Ventures United States 1Valor Capital Group United States 1

Wayra Brasil Brazil 1WOW Brazil 2


QMC Telecom Mexico, QMC Telecom Brasil, QMC Telecom Colombia

Accel Partners,Grupo Santo Domingo

QMC Telecom International

537,24

Seicom Ezentis BrazilPrivate

Shareholders14,98

America Net Axxon Group, Invest Tech - ND

1

2


2bCapital Brazil 1

Accel Partners United States 1

Axxon Group Brazil 1

Blackstone United States 1

Invest Tech Brazil 1


3

Legal Advisors


Vieira Rezende Advogados

3

3

3

Financial Advisors

IGC Partners Assessoria Empresarial

Brazil

ADVISORS


M&A HANDBOOK 2016 MOST ACTIVE ADVISORS – BRAZILMOST ACTIVE ADVISORS – BRAZIL M&A HANDBOOK 2016

Financial Advisors

Featured deals

Most active advisors in 2015*

• Banco Santander

Target Country(Target) Subsector Buyer Seller Value (R$m)

Souza Cruz Brazil TobaccoBritish American

Tobacco Américas

Aberdeen Asset Managers, Private

Shareholders9.328,42

Saraiva Educação

BrazilMedia, Multimedia

and EditorialEditora Ática Livraria Saraiva 725,00

Grupo Ruette BrazilFood Industry

Biofuel

Black River Agriculture

(Black River Asset)Private Shareholders 300,00

• Banco Itaú BBA

Target Country(Target) Subsector Buyer Seller Value

(R$m)


Tobacco AméricasAberdeen Asset Managers,

Private Shareholders9.328,42

Rede D'Or São Luiz

Brazil

Healthcare, Hygiene, Medical Aesthetics and

Cosmetics


Corporation (GIC)

Private Shareholders, BTG Pactual Brazil Investment

Fund I

3.200,00(Approx.)

Congonhas Minérios

Brazil Mining CSN

China Steel Corporation, Nisshin Steel, Kobe Steel,

Posco Group - Pohang Iron and Steel Company, JFE

Steel Corporation, Itochu

2.620,02

• Bank of America Merrill Lynch


(R$m)

Novita BrazilServices and Distribution

Coty Hypermarcas 3.800,00

Rede D'Or São Luiz

BrazilHealthcare, Hygiene, Medical Aesthetics

and Cosmetics



1.750,00(Approx.)

GFS Brazil Agriculture, Agribusiness,

Farming and Fishing

BRF Austria(BRF)

Private Share-holders

1.477,00

• Ártica Investimentos


(R$m)Allabor

LaboratóriosBrazil


Mérieux NutriSciences Corporation


ND

Laboratório São Marcos

BrazilHealthcare, Hygiene, Medical

Aesthetics and CosmeticsLaboratório São Francisco - ME


ND

Centro Paraibano de Oncologia

BrazilHealthcare, Hygiene, Medical

Aesthetics and CosmeticsOncoclínicas do Brasil


ND

• Banco Bradesco BBI


Moy Park Ireland Food Industry JBS Marfrig 4.851,59


Brazil MiningFIP Multisetorial

Plus IIVale - Companhia Vale do Rio Doce

4.000,00

Alpargatas Brazil Fashion and Textile J&F Investimentos Camargo Corrêa 2.667,00

• Banco BTG Pactual


(R$m)

Souza Cruz

Brazil TobaccoBritish American

Tobacco Américas



Rede D'Or São Luiz

BrazilHealthcare, Hygiene,



Corporation (GIC)

Private Shareholders, BTG Pactual Brazil Investment Fund I

3.200,00(Approx.)

Rede D'Or São Luiz

BrazilHealthcare, Hygiene,



Banco BTG Pactual, BTG Pactual


A • Ártica InvestimentosB • Banco Bradesco BBI • Banco BTG Pactual • Banco Itaú BBA • Banco Santander • Bank of America Merrill Lynch • Base Capital Partners • BNP Paribas • BR PartnersG • G5 Evercore

I • IGC Partners Assessoria Empresarial

J • JK CapitalM • MagmaR • Rothschild V • Vinci Partners

• Base Capital Partners


(R$m)

Affero Lab Brazil EducationErste BBI Participações, International Finance

Corporation (IFC)

Private Shareholders, BR Educacional FIP

165,00(Approx.)

S/A Comunicação

BrazilMarketing and

AdvertisingLlorente & Cuenca

AmericaPrivate

ShareholdersND

Llorente & Cuenca do

BrasilBrazil


Financial and InsurancePrivate Shareholders

Llorente & Cuenca America

ND

* Includes financial advice. Includes M&A transactions. Does not include due diligence nor any other type of specialized advice. Does not include asset acquisition.



• BR Partners


(R$m)



Pellegrino BrazilCars, Motorcycles and

Other VehiclesGrupo Comolatti Affinia Group 215,00

Shopping Light

Brazil Distribution and RetailZahav Empreendimentos

ImobiliáriosLevian

Participações150,00

• G5 Evercore


(R$m)

Hidrovias do Brasil

BrazilTransports, Aviation and

Logistics

Temasek Holdings, BTO FIP, International Finance

Corporation (IFC), BNDESPar, Blackstone, AIMCo, P2Brasil

- 980,51

Arjo Wiggins

BrazilGlass, Ceramic, Paper,

Plastics, Wood and TimberArconvert Brasil

Sequana Group

286,05

Ingresso.com

Brazil

Tourism, Hotels and RestaurantsTechnology

Other Services

Fandango8M


• BNP Paribas


(R$m)

Supremo Cimento BrazilConstruction (Materials

and Machinery)NSOSPE Private Shareholders

290,00(Approx.)

Maverick BrazilTransports, Aviation

and LogisticsManabi - 209,50

Relsa Brasil BrazilCars, Motorcycles and

Other VehiclesArval Brasil

Empresas Relsa ND

• JK Capital


(R$m)

Centro Educacional Nossa Cidade

Brazil EducationSociedade Educacional

Atual da AmazôniaPrivate

Shareholders90,00

Faculdade da Serra Gaúcha

Brazil Education Advent InternationalPrivate

ShareholdersND

Heraeus Vectra do Brasil

Brazil Technology PGM Technologies Heraeus Holding ND

• Vinci Partners


(R$m)

Fac Educacional, Fair Educacional, Famesul, Sociedade Lageana Educa-cional, Sevita, Assevim, Sociedade


Brazil Education


e Participações(Carlyle,

Vinci Partners)

Kroton Educacional

1.105,00

Shopping Paralela BrazilDistribution and Retail

BRL II, Vinci FII BR Malls 156,60

West Shopping BrazilDistribution and Retail

BRL II, Vinci FII BR Malls 113,20

• IGC Partners Assessoria Empresarial


Pellegrino BrazilCars, Motorcycles and

Other VehiclesGrupo Comolatti

Affinia Group

215,00

Affinia Automotiva BrazilAutomotive and

Recreational VehiclesAutopartners Participações

Affinia Group

146,30

Nterra Participações Brazil Financial and Insurance HortifrutiPrivate

Shareholders145,00

• Rothschild


(R$m)

Tempo Participações

BrazilFinancial and

InsuranceHill Valley

Participações

Évora FIP, Private Shareholders, Brasil Capital, Tarpon Investimentos, Private

Equity Partners B, Private Equity Partners A

318,57

Tempo Participações

BrazilFinancial and

InsuranceHill Valley

Participações

Private Equity Partners B, Private Equity Partners A, Tarpon Investimentos, Brasil Capital, Évora FIP, Private Shareholders

310,55

Submarino Viagens

Brazil


Internet

CVC Serviços Agência de

Viagens, CVC Brasil

B2W Companhia Digital 80,00

• Magma


Laticínios Carolina Brazil Food Industry General MillsPrivate

ShareholdersND

Yema Brazil Food Industry GranaroloPrivate

ShareholdersND

Laticinios Tania Brazil Food Industry Lider AlimentosPrivate

ShareholdersND



Legal Advisors

* Includes legal advice. Includes M&A transactions. Does not include due diligence nor any other type of specia-lized advice. Does not include asset acquisition.

A • Arap, Nishi & Uyeda - Advogados • ASBZ Advogados • Azevedo Sette Advogados

B • Baptista Luz Advogados • Barbosa, Müssnich, Aragão • Benício Advogados

C • Candido, Martins & Galizzi Advogados • Cascione, Pulino, Boulos & Santos Advogados • Castro, Barros, Sobral, Gomes Advogados • Chaves, Gelman, Machado, Gilberto e Barboza Advogados • Chediak Advogados • Couto Silva Advogados

D • David e Aniceto Advogados Associados • De Luca, Derenusson, Schuttoff e Azevedo Advogados • Demarest Advogados • Derraik & Menezes Advogados • Dias Carneiro, Arystóbulo, Flores, Sanches, Turkienicz, Amendola, Waisberg e Thomaz Bastos • DMGSA Domingues Sociedade de Advogados

E • Eskenazi Pernidji Advogados

F • Fialho SAlles Advogados

G • GT Lawyers

H • Halembeck Barros e Sicherle Advogados

K • KLA - Koury Lopes Advogados

L • L. O. Baptista, Schmidt, Valois, Miranda, Ferreira, Agel Advogados • Lanna Ribeiro, Carneiro de Souza & Fragoso Pires Advogados

• Lefosse Advogados • Lobo & de Rizzo Advogados • Loeser e Portela Advogados

M • Machado, Meyer, Sendacz e Opice Advogados • Madrona Advogados • Mattos Filho, Veiga Filho, Marrey Jr. e Quiroga Advogados • MNA - Miguel Neto Advogados • Motta, Fernandes Rocha Advogados • Mundie e Advogados

N • Nunes & Sawaya Advogados

P • Pinheiro Guimarães Advogados • Pinheiro Neto Advogados

S • Siqueira Castro Advogados • Soares Bumachar Chagas Barros Advogados • Souza, Cescon, Barrieu & Flesch Advogados • Stocche, Forbes, Padis, Filizzola, Clapis, Passaro, Meyer e Refinetti Sociedade de Advogados

T • Tauil & Chequer Advogados • Timoner e Novaes Advogados • TozziniFreire Advogados • Trench, Rossi e Watanabe Advogados

U • Ulhôa Canto, Rezende e Guerra - Advogados

V • Vaz, Barreto, Shingaki & Oioli Advogados • Veirano Advogados • Vella Pugliese Buosi e Guidoni Advogados • Vieira Rezende Advogados

Featured deals

• Arap, Nishi & Uyeda - Advogados


(R$m)

Consórcio Inframérica Brazil Transports, Aviation

and LogisticsCorporación

América Infravix Participações 220,00

Contrail BrazilTransports, Aviation

and LogisticsEurogate

BTG Pactual Infraestrutura II FIP, EDLP Estação da Luz

ParticipaçõesND

• ASBZ Advogados


(R$m)

Azul Linhas Aéreas BrazilTransports,


United - 352,61

Prime Sistemas de Atendimento ao

ConsumidorBrazil Technology Private Shareholders

Genesys Brasil

ND

Partners

Massami Uyeda Junior 1

1

1

2

2

2

Partners

Ricardo Melaré Felipe Gruber

Guilherme Amaral

1

1

2

• Azevedo Sette Advogados


(R$m)

Pontomobi BrazilMarketing and

Advertising

Dentsu Aegis

Network

Private Shareholders, e.Bricks Digital

80,00(Approx.)

Nansen BrazilDistribution and

RetailNingbo Private Shareholders 37,00

Zunnit Tecnologia BrazilInternet


Fundepar - 0,50

Partners

Joyl Gondim de Alencar Filho Luis Ricardo Miraglia Ana Paula Terra Caldeira31 2

1

2

3

Most active advisors in 2015*



Partners

Henrique de Faria Martins Gustavo Oliva Galizzi

• Candido, Martins & Galizzi Advogados


(R$m)

Loducca Brazil Marketing and Advertising

Private Shareholders, Grupo ABC


Dimicron BrazilChemical and Chemical

MaterialsAminoagro


ND

Geneseas BrasilAgriculture, Agribusiness,

Farming and FishingDistribution and Retail

Aqua Capital - ND

• Cascione, Pulino, Boulos & Santos Advogados


(R$m)

Marinoteis, Hotéis Tivoli, Pojuca

Portugal, Brazil


Minor Continental Holding

Luxembourg

Gespatrimónio Rendimento, Rioforte Brasil

1.281,68

JV Weener-Globalpack BrazilGlass, Ceramic, Paper, Plastics,

Wood and Timber

Weener Plastic Packaging Group

BrasilGlobalpack ND

1

1

2

2

3

222 31

Partners

Guilherme Tepedino Hernández Fernanda Alves Wolf

Tiago Franco Da Silva Gomes Helen Gaudio valente figurelli

• Castro, Barros, Sobral, Gomes Advogados


(R$m)

Marinoteis, Hotéis Tivoli,

Pojuca

Portugal, Brazil


Minor Continental Holding Luxembourg

Gespatrimónio Rendimento, Rioforte Brasil

1.281,68

Brasbunker BrazilTransports, Aviation

and Logistics Shipbuilding

OprimeDSB Serviços de

óleo e gásND

1

2

2

2

1

1

Partners

Augusto César Rodrigues Marcelo Vieira Rechtman Marcos Vinicius Pulino1 1 12

2

• Barbosa, Müssnich & Aragão Advogados


(R$m)

Rede D'Or São Luiz Brazil


Cosmetics


Corporation (GIC)

Private Shareholders, BTG Pactual Brazil

Investment Fund I

3.200,00(Approx.)

Congonhas Minérios

Brazil Mining CSN

China Steel Corporation, Nisshin Steel, Kobe Steel,

Posco Group - Pohang Iron and Steel Company, JFE

Steel Corporation, Itochu

2.620,02

Rede D'Or São Luiz

Brazil


Cosmetics


Banco BTG Pactual, BTG Pactual Participations

2.380,00

• Benício Advogados


(R$m)

Genix BrazilPharmaceutical,

Parapharmaceutical and Cosmetics

Qualicaps Private Shareholders 193,00

iTrade Marketing

Brazil Marketing and Advertising SmollanPrivate

ShareholdersND

Partners

Francisco Antunes Maciel Müssnich Tatiana Amorim de Brito Machado

Daniela Henriques Soares Barbara Rosenberg

Partners

Fernando Cagnoni Abrahão Dutra

3

3

1

1

2

1

1

2

2

2

3

• Baptista Luz Advogados

Target Country(Target) Subsector Buyer Seller Valor

(R$m)

e-Smart Brazil InternetB2W

Companhia Digital

Private Shareholders, HiPartners Capital & Work

13,00

Dress & Go BrazilInternet

Luxury Goods and Services

Kaszek Ventures

- ND

BrasilTelecomunicações

Brazil TelecomsClaro Brazil(América

Móvil)Blue Interactive Group ND

Partners

Luis Felipe Baptista Luz Samueal Vilarinho Scarel3 3

1

2

3



Partners

José Andres Lopes da Costa Cruz Patricia Regina Pinheiro Sampaio

Lídice Marques S. Xavier Alexandre Santos de Aragão

Luiz Claudio Salles Cristofaro

• Chaves, Gelman, Machado, Gilberto e Barboza Advogados


(R$m)

Maynart Energética Brazil Electric Energy Vila Real Energia Novelis Brasil 44,45

Healthways Brasil Serviços de Consultoria

Brazil


Cosmetics

Sul América Serviços de Saúde

Healthways International

ND

Telemática Soluções em Informática

Brazil TechnologyPrivate

ShareholdersPrivate

ShareholdersND

• Chediak Advogados


Açu Petróleo Brazil Oil and Gas Oiltanking Prumo Logística 742,65

Cortex Intelligence Brazil TechnologyFIP RPEV-1BRAZIL

- 11,00

Hospital Santa Joana Recife


and CosmeticsEsho

Grupo Fernandes Vieira

ND

1

1

2

2

3

3

2

1

1

1

1

Partners

Guilherme Filardi João Claudio de Luca Junior

• David e Aniceto Advogados Associados


Companhia Brasileira de Esterilização

Brazil

Other Consumer GoodsFood Industry

Pharmaceutical, Parapharmaceutical and

Cosmetics

GTCR, Warburg Pincus, Sterigenics

International

Private Shareholders, FIP Gamma

ND

Ubook BrazilMedia, Multimedia

and EditorialInternet

Koolen Participações


ND

Loggi Technology

Brazil Financial and Insurance Kaszek Ventures II

Koolen Participations B.V., Private

Shareholders

ND

• De Luca, Derenusson, Schuttoff e Azevedo Advogados


(R$m)

Degraus Brazil Construction (Materials and Machinery) Loxam Private

Shareholders ND

OW Estacionamentos BrazilTransports, Aviation and

LogisticsGrupo Estapar


ND

Casa do Epi Brazil Distribution and Retail BunzlPrivate

ShareholdersND

1

1

2

2

3

3

Partners

Alexandre B. David

2 21 1

Partners

Bernadete Dias Martim Machado René Gelman31 1 2

2 31

Partners

Alexandre Couto Silva Ricardo Mafra

• Couto Silva Advogados


Energisa Brasil Electric Energy FIP da Serra Gipar613,40

(Approx.)

Acesso Soluções

BrasilTechnology


Private Shareholders, Duxx Investimentos

- 12,09

Brasbunker BrasilTransportes, Aviação

e LogísticaNaval

OprimeDSB Serviços de óleo e gás

ND

1

2

3

2 23 31 1

• Demarest Advogados


(R$m)

Rede D'Or São Luiz Brazil

Healthcare, Hygiene, Medical Aesthetics

and Cosmetics


Corporation (GIC)


3.200,00(Approx.)

Rede D'Or São Luiz


and Cosmetics




Rede D'Or São Luiz


and CosmeticsCarlyle


Corporation (GIC)

400,00(Approx.)

1

2

3

Partners

Eloisa de Almeida Rego Barros Curi Fabio de Almeida Braga

Thiago Barbosa Sandim Paola Pugliese

António Manuel France Aires Rafael Villar Gagliardi

Thiago Giantomassi Medeiros

2

2

2

2

2

3

3

31

1



2

• Dias Carneiro, Arystóbulo, Flores, Sanches, Turkienicz, Amendola, Waisberg e Thomaz Bastos


(R$m)

Grupo Ruette Brazil Food Industry Biofuel

Black River Agriculture(Black River Asset)


Nterra Participações

BrazilFinancial and

InsuranceHortifruti


145,00

99Taxis Brazil InternetQualcomm Ventures,

Tiger Global Management, Monashees Capital

-125,00

(Approx.)

1

2

3

• DMGSA Domingues Sociedade de Advogados


(R$m)

Supremo Cimento Brazil Construction (Materials and Machinery) NSOSPE Private

Shareholders290,00

(Approx.)Reggia Participações

Societárias, Serviço de Hemodinâmica, Hospital

Santa Cruz

Brazil Financial and InsurancePrivate

ShareholdersPrivate

ShareholdersND

AAM do Brasil BrazilAutomotive and

Recreational VehiclesAAM Comércio e Participações

Rio dos Poços Participações

e ServiçosND

• Eskenazi Pernidji Advogados


(R$m)

Multidisplay Brazil Technology Cielo Private Shareholders, Interprint 82,70

Editora HR BrazilMedia, Multimedia

and EditorialHarperCollins

PublishersGrupo Editorial Record ND

• GT Lawyers


(R$m)MM Groupe

Participações, I-value Tecnologia

Brazil Financial and Insurance Famatown Finance Limited - ND

Mariol Medicamentos

BrazilPharmaceutical,


Unither Farmaceuticals


ND

Elismol Brazil



Groupe CGRPrivate

ShareholdersND

Partners

Oswaldo da Rocha Miranda de Faria Sergio I. Eskenazi Pernidji

1

1

1

2

2

2

2

33

Partners

Gabriel Zugman Nereu Domingues

Partners

Tamy Tanzilli Roberto Oliveira2 22 23 33 31 11

Partners

Luciano Fialho de Pinho Leonardo Canabrava

Alice Dourado Roberto Salles

• Campos, Fialho, Canabrava, Borja, Andrade, Salles Advogados


(R$m)

Oncoclínicas do Brasil Brazil


Cosmetics

Goldman SachsPrivate Shareholders, Fundotec II, Victoria

Capital Partners Brasil200,00

Nterra Participações

BrazilFinancial and

InsuranceHortifruti Private Shareholders 145,00

Maynart Energética

Brasil Electric Energy Vila Real Energia Novelis Brasil 44,45

1

2

3

2

2

2

3 31

• Derraik & Menezes Advogados


(R$m)

WebRadar Brasil Tecnologia Qualcomm Ventures,DGF FIPAC 2 (DGF investimentos) - 15,00

ResultadosDigitais Brasil


Internet

Astella Investimentos, Redpoint e.Ventures, Private Shareholders,

DGF Inova, Astellas Pharma- 15,00

Acesso Soluções

BrasilTecnologia


Private Shareholders,Duxx Investimentos

- 12,09

1

2

3

Partners

Rodrigo Menezes 3

Partners

Eduardo Zilberberg Joel Luis Thomaz Bastos

Thiago Vallandro Flores

31 12

2



Partners

Rodrigo Millar de Castro Guerra Valdo Cestari de Rizzo

Luciana Lorenzo Otávio Lucas Solano Valério

Marco La Rosa de Almeida Rodrigo Delboni Teixeira

Sérgio Varella Bruna

1

1

1

1

1

Partners

Alessandra Höhne Karin Alvo 1

• Halembeck Barros e Sicherle Advogados


(R$m)

Ibmec Brazil Education DeVry

Burnside Strategies, Everett Group, Verus

Holdings, Private Shareholders

717,00

Sociesc BrazilServices and Distribution

Anima Educação


Ibmec Brazil Education DeVry Brasil Private Shareholders 26,00

• KLA - Koury Lopes Advogados


(R$m)

Pontomobi Brazil Marketing and Advertising Dentsu Aegis Network

Private Shareholders, e.Bricks Digital

80,00(Approx.)

KPL Soluções Brazil Technology Mercado LivrePrivate

Shareholders50,00

Loggi Brazil

Internet Transports, Aviation and

Logistics

Monashees Capital, Dragoneer Investment

Group, Qualcomm Ventures

- 50,00

• L. O. Baptista, Schmidt, Valois, Miranda, Ferreira, Agel Advogados


(R$m)

Nansen Brazil Technology Distribution and Retail Ningbo Private

Shareholders37,00

(Approx.)

Heliocolor BrazilChemical and Chemical

MaterialsWeilburger Graphics


ND

PPE Fios Esmaltados

BrazilSteel, Metallurgy and Industrial Production

ASTA EnergyPrivate

ShareholdersND

Partners

Cássia Monteiro Cascione Daniela Zaitz3

3

2

2

1

1

1

2

2

2

3

3

3

• Lanna Ribeiro, Carneiro de Souza & Fragoso Pires Advogados


Loducca Brazil Marketing and Advertising

Private Shareholders, Grupo ABC


Agência Salve BrazilMarketing and

AdvertisingGrupo ABC


ND

• Lefosse Advogados


(R$m)

Hidrovias do Brasil Brazil

Transports, Aviation and

Logistics



- 980,51

DASA Brazil

Healthcare, Hygiene, Medical

Aesthetics and Cosmetics

Cromossomo Participações

Oppenheimer Funds, Petros,


837,09

EBBA - Empresa Brasileira de Bebidas e Alimentos

BrazilFood

IndustryBritvic


755,93

• Lobo & de Rizzo Advogados


(R$m)Fac Educacional, Fair

Educacional, Famesul, Sociedade Lageana Educacional, Sevita, Assevim, Sociedade


Brazil Education


e Participações(Carlyle, Vinci

Partners)


NovaAgri BrazilTransports,


Toyota Tsusho Corporation

Private Shareholders,

P2Brasil704,91

Arjo Wiggins BrazilGlass, Ceramic, Paper, Plastics,

Wood and TimberArconvert Brasil

Sequana Group

286,05

Partners

Pedro Lanna Ribeiro Elio Nakano

Partners

Christian Roschmann Andréa Caliento

Carlos Barbosa Mello Bruno Carramaschi

Luiz Octavio Duarte Lopes Rodrigo Azevedo Junqueira

3 3

3

3

2

2

2

1

1

1

2

2

2

3

3

2

3

3

2

2

2

Partners

Bruno de Barros Carvalho Longo Luciana de Godoy Penteado Gattaz

Carla Dias Alves Anastácio Loures Penna Luiz Fernando Amaral Halembeck

Daniel Vianna de Azevedo Barros Lucca Walker Bradfield

Carolina Martins Mônaco

2

2 2

2

3

3

3

1 1

1

1

2 31



Partners

Fernando Tonanni Ana Karina Esteves de SouzaAdriana Pallis Romano José PradoEliana Helena de Gregório Ambrósio Chimenti José Virgílio Lopes Enei Elton Minasse Gabriela Falcão Vieira Roberta Danelon Leonhardt

Partners

Fabio Gazzoni José Luís Camargo Jr.2

2

21

1

1

• Machado, Meyer, Sendacz e Opice Advogados


(R$m)

Congonhas Minérios Brazil Mining CSN

China Steel Corporation, Nisshin Steel, Kobe Steel, Posco Group -

Pohang Iron and Steel Company, JFE Steel Corporation, Itochu

2.620,02

TNE - Triunfo Negócios de Energia, Rio Verde Energia - Recife, Rio

Canoas Energia

Brazil Electric EnergyChina Three

Gorges Brasil

Triunfo Participações 970,00

Inpa Embalagens BrazilGlass, Ceramic, Paper, Plastics,

Wood and Timber

Smurfit Kappa


• Madrona Advogados


(R$m)Tito Global Trade Service USA, Tito Cademartori de Mexico,

Tito Cademartori de Argentina, Sudex Tito Logística, Tito

Global Trade Services

United States, Mexico,

Argentina, Brazil

Transports, Aviation and

LogisticsMitsui-Soko Private

Shareholders 94,82

Corpflex Informática BrazilTechnology Telecoms

2bCapital Brasil Capital de

Crescimento I FIP


ND

Glass Sentinal, RCD Equipamentos Blindados

Brazil

Electronics Consultancy,

Audit and Engineering

Assa Abloy Brasil


ND

2

1

1

2

2

3

3

1

1

1

1

3

3

• Mattos Filho, Veiga Filho, Marrey Jr. e Quiroga Advogados


(R$m)MBR - Minerações Brasileiras Reunidas Brazil Mining FIP Multisetorial

Plus IIVale - Companhia Vale do Rio Doce 4.000,00

Alpargatas Brazil Fashion and TextileJ&F

InvestimentosCamargo Corrêa 2.667,00

Gaspetro BrazilOil and Gas


Mitsui Gás e Energia do Brasil

Petrobras 1.900,00

• Motta, Fernandes Rocha Advogados


(R$m)

Geofusion BrazilTechnology


Intel Capital, DGF FIPAC 2 Criatec 34,00

Logix Info BrazilTechnology

InternetInterplayers Soluções

IntegradasPrivate


IMCD Brasil Comécio de Produtos Químicos

BrazilChemical and

Chemical MaterialsIMCD Holding Brazil


ND

• MNA - Miguel Neto Advogados


(R$m)

Sabó Mangueiras Brazil Automotive and Recreational Vehicles Reflex & Allen Menfis FIP,

Sabó ND

Ouribom Participações

BrazilFood Industry

Food and BeverageCafé Três Corações Itamaraty ND

Pare Bem Brazil Car Parks P2BrasilPrivate

ShareholdersND

1

1

1

2

2

2

3

3

3

Partners

Flavio Mifano Sergio Spinelli Silva Jr.

Marcio Dias Soares Claudio Moises Oksenberg

Marina Anselmo Schneider Giovani Loss

Fernando Amendola

1

1

1 3

3

2

2

Partners

Bruno Hachebe Schiavoni Guarnieri Décio Andrade José Antônio Miguel Neto

Partners

Daniel Kalansky

31

1

1 22

1 1

• Loeser e Portela Advogados


Apriori TI BrazilConsultancy, Audit

and Engineering Technology

TMF Group PwC Brasil 66,00

Prakolar Rótulos BrazilGlass, Ceramic, Paper,

Plastics, Wood and Timber

Sato Europe Private Shareholders ND

Partners

Fernando Loeser Marcela Turani Palhares2

1

2



Partners

Emir Nunes de Oliveira Neto Ricardo Emmanuel Vieira Coelho

José Alexandre Buaiz Neto Werner Grau Neto

Marcello Alfredo Bernardes Alvaro Silas Uliani Martins dos Santos

Marcello Portes da Silveira Lobo

2

Partners

Bruno Lardosa Mauricio Negri Machado Paschoal

René Mostardeiro Brunet Francisco José Pinheiro Guimarães

Gustavo Machado Gonzalez

• Mundie e Advogados


(R$m)

Eliane Brazil Construction (Materials and Machinery)

Kinea Investimentos


Ezlike Brazil Internet Gravity4Private

ShareholdersND

Motechfilm Produtos Plásticos

BrazilGlass, Ceramic, Paper,

Plastics, Wood and TimberDistribution and Retail

GFS Participações


ND

• Nunes & Sawaya Advogados


(R$m)

Consórcio Inframérica Brazil Transports, Aviation and Logistics

Corporación América

Infravix Participações 220,00

TruckPad BrazilInternet


MovilePrivate

ShareholdersND

• Pinheiro Guimarães Advogados


(R$m)

Hidrovias do Brasil Brazil Transports, Aviation

and Logistics



- 980,51

DASA BrazilHealthcare, Hygiene, Medical Aesthetics

and CosmeticsCromossomo Participações

Oppenheimer Funds, Petros,


837,09

Gerdau Cosigua

BrazilSteel, Metallurgy

and Industrial Production

GerdauBanco Itaú Unibanco

443,00(Approx.)

Partners

Renato Nunes Rafael Younis Marques 2

1

1

1

2

2

2

3

3

1

• Pinheiro Neto Advogados


(R$m)




Petrobras 1.900,00

Azul Linhas Aéreas

BrazilTransports, Aviation and

LogisticsHNA Group

Azul Holding Brasil

1.670,97

Nissin Miojo Brazil Food IndustryNissin Foods

HoldingsAjinomoto

1.000,00 (Approx.)

• Soares Bumachar Chagas Barros Advogados


(R$m)Transenergia Reno-

vável, Transenergia São Paulo, MGE Transmis-

são, Goiás Transmissão

Brazil Electric Energy

Empresa de Energía de

Bogotá (EEB)

J. Malucelli Construtora, J. Malucelli Energia, Desenvix

Energias Renováveis547,98

Locatec, Quimatec BrazilTransports,


Solenis do Brasil Químicas


Geekie BrazilInternet

EducationOmidyar Network

- 5,00

1

1

2

2

• Siqueira Castro Advogados


(R$m)

Ducha Corona BrazilSteel, Metallurgy


Duratex Private Shareholders 88,50

ESS - Engenharia de Sistemas e Soluções

Brazil TelecomsIG Transmissão e Distribuição

Furukawa Industrial Produtos Elétricos

ND

1

2

3

3

2

21

1

3

3

1 1

1 1

1

1

Partners

Carlos Fernando Siqueira Castro Otávio Pinto e Silva

João Daniel Rassi Simone Paschoal Nogueira

Márcio Costa de Menezes e Gonçalves Thais Matallo Cordeiro Gomes

Maucir Fregonesi Junior Antônio Garbelini Júnior

1 1

1 1

11

1

Partners

Eduardo Soares Marcela Britto Correa Figueiró Thiago Rodrigues Maia 311 2

Partners

Kevin Louis Mundie Ana Cristina de Moraes

Rodolpho de Oliveira Franco Protasio

1

1

3

2



Partners

Carlos Motta Alexandre Chequer

Celso Grisi Guilherme Vieira da Silva

Guido Vinci Victor Galante

Caio Cossermelli

• Tauil & Chequer Advogados


(R$m)

Wise Up Brazil Education Private Shareholders Editora Ática 398,00

Atlântico - Concessionária de Transmissão de Energia

do Brasil, Linhas de Transmissão de Montes

Claros

BrazilElectric Energy

State Grid BrazilLintran

do Brasil200,00

Logbras Brazil

Real Estate Transports,


Private Shareholders, TRX Holding

Investimentos e Participações

Property Brasil

142,60

1

2

3

3

3

• Souza, Cescon, Barrieu & Flesch Advogados


(R$m)MBR - Minerações Brasileiras Reunidas Brazil Mining FIP Multisetorial

Plus IIVale - Companhia Vale

do Rio Doce 4.000,00



Grupo ABC BrazilMarketing

and Advertising


Kinea Investimentos, Private Shareholders

1.000,00(Approx.)

1

2

3

• TozziniFreire Advogados


(R$m)Azul Linhas

Aéreas Brazil Transports, Aviation and Logistics HNA Group Azul Holding

Brasil 1.670,97

Hidrovias do Brasil

BrazilTransports, Aviation

and Logistics



- 980,51

Decolar.com BrazilInternet


ExpediaPrivate

Shareholders847,11

• Trench, Rossi e Watanabe Advogados


(R$m)

NovaAgri Brazil Transports, Aviation and Logistics

Toyota Tsusho Corporation

Private Shareholders,

P2Brasil704,91

Hotel Urbano BrazilInternet


Priceline - 188,91

Hospitalar Feiras, Congresos e

EmpreendimentosBrazil

Marketing and AdvertisingHealthcare, Hygiene,


UBM BrazilPrivate

Shareholders150,00

1

1

2

2

3

3

Partners

Daniel de Miranda Facó Ana Carolina Castro Reia Passos

Marcos Flesch Fabíola Cammarota de Abreu2

2

2

1

2

2

21

1

1

Partners

Marcio Mello Silva Baptista Martin Miralles Pose Marcel Medon Santos

Partners

José Roberto Martins Lara Schwartmann Alexandre Simões Pinto

3

3

3

1

1

2

2

• Stocche, Forbes, Padis, Filizzola, Clapis, Passaro, Meyer e Refinetti Sociedade de Advogados


Bematech Brazil Technology Makira II(TOTVS)

Pátria Investimentos 549,90

Somos Educação BrazilEducation


Thunnus Participações


Rocha Terminais Portuários e

LogísticaBrazil


BNDESPar - 200,00

Partners

André Mestriner Stocche

Flavio Roberto Penteado Meyer

1

2

3

3

1

• Timoner e Novaes Advogados

Target Country(Target) Subsector Buyer Seller Valor

(R$m)

Logbras BrazilReal Estate


Private Shareholders, TRX Holding Investimentos e

ParticipaçõesProperty Brasil 142,60

Sieve Group Brasil

BrazilInternet

Technology8M Participações

Private Shareholders, Usina Internet

Group

88,55

uMov.me Brazil TechnologyAccionistas Particulares,

Trevisan TecnologiaTOTVS Ventures

(TOTVS)1,60

Partners

Carlos André Teixeira Ramos Novaes

1

2

3

1 2



Partners

Aloysio Meirelles de Miranda Rodrigo Brunelli

Vivian Santos Marcelo Santos

• Ulhôa Canto, Rezende e Guerra - Advogados


(R$m)


TobaccoAméricas



BRPR 47 Empreendi-mentos Imobiliários e

ParticipaçõesBrazil Real Estate Brookfield Brasil BR Properties 1.279,00

Grupo ABC BrazilMarketing

and Advertising


Kinea Investimentos, Private Shareholders

1.000,00(Approx.)

• Vella Pugliese Buosi e Guidoni Advogados


(R$m)

Mineração Aurizona Brazil Mining

Pacific Road Capital

ManagementLuna Gold 24,67

Intervalor BrazilFinancial and

InsuranceArvato

ParticipaçõesPrivate Shareholders ND

OW Estacionamentos

BrazilTransports,


Grupo Estapar Private Shareholders ND

• Veirano Advogados


Nova Renova Energia, Salvador Holding Brazil Wind Energy TerraForm Global Renova Energia 1.477,00

Harald Brazil Food Industry Fuji OilPrivate

Shareholders845,00

(Approx.)

Inpa Embalagens Brazil

Glass, Ceramic, Paper, Plastics,

Wood and Timber

Smurfit KappaPrivate

Shareholders805,00

• Vaz, Barreto, Shingaki & Oioli Advogados


(R$m)

Safe seguros Brazil Financial and Insurance

Banco Itaú BMG Consignado

Itaú Soluções Previdenciárias,

Itaucard1,00

Lending Serviços de Administração

BrazilFinancial and

InsuranceBMG

Participações- ND

Garda Empreendimentos e Participações

Brazil Real EstateMaraba

ParticipaçõesABL Shopping ND

• Vieira Rezende Advogados


(R$m)

Recovery do Brasil Consultoria Brazil

Financial and Insurance Consultancy, Audit and

Engineering

Banco Itaú Unibanco

Banco BTG Pactual 640,00

Sociesc BrazilServices and Distribution

Anima Educação


52,50

America Net Brazil TelecomsInvest Tech,

Axxon Group- ND

1 1

1

11

2 2

2

22

3 3

3

33

Partners

Jose Barreto Netto Erik Frederico Oioli

Partners

Camila Borba Lefevre Marcelo S. Barbosa 2 3 3

3

3

Partners

Carlos Alexandre Lobo Marco Antonio Moreira Monteiro

Marcio Calvet Neves Sergio Bronstein

Roberta Bassegio Gustavo Moraes Stolagli

Robson Goulart Barreto Ricardo Veirano

Tiago Kümmel Figueiró

2

21

1

1

1

1

Partners

Frederico Buosi Rodrigo Vilardo Vella Priscila Brolio Gonçalves 31

1

2

1

3

2

21

1

1

Brazil

CORPORATE PROFILES


TRANSACTIONS

TARGETCOUNTRY (TARGET)

SUBSECTOR BUYER SELLERAMOUNT

(R$m)

Prime Sistemas de Atendimento ao

ConsumidorBrazil Technology Private Shareholders Genesys Brasil 600,00

Azul Linhas Aéreas BrazilTransports, Aviation

and LogisticsUnited - 352,61

Bombas Leão BrazilSteel, Metallurgy and Industrial Production

Franklin Electric Private Shareholders 71,60

Edifícios Residenciais em São Paulo

Brazil Real Estate HinesOAS

empreendimentos32,00

* Includes M&A transactions and asset acquisitions in 2014 and 2015.

ASBZ ADVOGADOSID in TTRecord.com: 17965

BRAZIL

Address Av. Brig. Faria Lima, 4285 4º andar 04538-133, São Paulo, SP

Telephone +55 (11) 3145 6000Website www.asbz.com.brEmail [email protected]

PROFILE

ABOUT US

Start of Activity 2011 Nº of employees More than 250 professionals

ASBZ Advogados

Law practice as a means, happiness as a goal. We exist to offer everyone a unique work environment that encourages and invests in the development of our legal team and contributes to improving their quality of life.

In order to help our clients achieve the best results, we are firm in our intent to quickly and efficiently develop creative solutions, based upon efficiency, responsibility and excellence.

This is the basis of who we are, enabling us to develop close and long-lasting relationships so we will never be just another law firm.

TEAM

Adriana [email protected]

Aitan [email protected]

Alexandre [email protected]

Alfredo [email protected]

Antonio Ivo [email protected]

Decio Daidone [email protected]

Felipe [email protected]

Guilherme [email protected]

João [email protected]

Marcelo Valenç[email protected]

Ricardo Melaré[email protected]

Sylvia Hossni Ribeiro do [email protected]

Áreas de atuação

• Corporate

• Corporate Governance

• Antitrust

• Commercial Contracts

• Tax

• Customs

• Real Estate

• Labor

• Executive and Employee Compensation

• Consumer

• Litigation

• Arbitration and Mediation

• Corporate Restructuring and Debt Recovery

• Family and Estate Planning

• Energy

• Aviation

• Sports and Entertainment

• Mergers and Acquisitions

• Project Finance

• Real Estate Transactions


Possibly more significant than our plurality of practices and sectors is our ability to operate successfully in different scenarios, places and cultures. International negotiations are part of our routine. Startups are part of our culture and big firms formed our working philosophy.

Practice Areas

Legal Due Diligence, Consumer, Civil Litigation / Arbitrage, Corporate Contracts , Mergers & Acquisitions, Tech and Cyber Law , Marketing, Capital Markets , Estate Planning , Intellectual Property , Labor Law, Tax Law.

TRANSACTIONS

* Includes announced and closed M&A transactions from 2014 and 2015.



(R$m)

Dental Sorria BrazilDistribution and Retail

Bunzl Private Shareholders ND

e-Smart Brazil Internet B2WHiPartners, Private

ShareholdersND

Benjamin Abrahão Brazil Distribution and Retail Innova CapitalPrivate Shareholders,

Península ParticipaçõesND

Scup BrazilMarketing and

Advertising; InternetSprinklr Private Shareholders ND

Dress & Go BrazilLuxury Goods and Services; Internet

Kaszek Venture - ND

Genesis Group BrazilTechnology;


Actis - ND

Blinks Brazil Internet JWT Private Shareholders ND

Lavatec Brazil Other Services Lavebras Private Shareholders ND

Brasil Telecomunicações

Brazil TelecomsClaro Brasil

(América Móvil)Blue Interactive Group ND

BAPTISTA LUZ ADVOGADOSID in TTRecord.com: 7099

BRAZIL

Address Rua Ramos Batista, 444 – 2° Andar Vila Olímpia 04552-020, São Paulo, SP

Telephone 55 (11) 3049-7950Website www.baptistaluz.com.brEmail [email protected]

PROFILE

ABOUT US

Start of Activity 2004 Nº of employees 35

Baptista Luz Advogados

Since it was founded in 2004, Baptista Luz Advogados has gone through several changes, growing and incorporating practices and services while never losing its two fundamental characteristics, innovative clients and our commitment to delivering results.

Today, our practices encompass several areas of Business Law. Corporate Law, Tax Law, Commercial Agreements, Digital Law, Marketing, Intellectual Property, Capital Markets and Mergers and Acquisitions are our most outstanding practices, where we apply the same quality, focus and our results-oriented dynamism.

Within our clients are foreign and local companies and corporations, investment funds, angel investors and entrepreneurs. Our cliens escape the commonplace of the markets, seeking with their innovative, bold, accurate and visionary actions, to create the world of tomorrow. It is this same kind of excellence and attitude that our clients require from us, and we deliver it.

Through a team of highly qualified, experienced, creative, technical, diverse and resourceful professionals, our services are provided aiming to deliver results, thus contributing to and looking after the success of our clients.

Acting in such a manner, we have the opportunity to work in various sectors of the economy; especially telecommunications, information technology, Internet, advertising, cosmetics, retail commerce, pharmaceutical, civil construction, automotive and agriculture.

TEAM

Luis Felipe Baptista LuzPartner

[email protected]

Alexandre [email protected]

Cristiano [email protected]

Luciana Simões Rebello [email protected]

Jessica Bernstein [email protected]

Pedro Henrique Soares [email protected]

Sandra [email protected]

Thaís Hirata de [email protected]


*Includes closed M&A and Joint Venture transactions in 2015.

TRANSACTIONS

Practice Areas

Bankruptcy, Business Restructuring and Insolvency; Competition; Corporate & M&A; Corporate Ethics and Compliance; Employment Law; Environmental Law; Finance and Capital Markets; Infrastructure and Regulatory & Government Affairs; Intellectual Property; International Trade; Litigation and Arbitration; Real Estate; Sports and entertainment; Tax

Awards & Recognitions • Winner of Client Service Award 2013 and 2014 (Chambers and Partners)• Winner of Brazil Law Firm of the Year 2015 (Chambers and Partners)• Top Ranked Firm - Chambers Latin America 2016 e Chambers Global 2016 • Featured in Análise Advocacia 500 - 2015 • Top Tier in The Legal 500 - 2015 • Listed in The Latin Lawyer 2015 Guide



(R$m)

PT Portugal Portugal Telecoms Altice Oi 20.108,09

Portugal Telecom Portugal Telecoms Oi Private Shareholders 14.721,77

Verallia FranceGlass, Ceramic, Paper,

Plastics, Wood and TimberBpifrance, Apollo

Global ManagementSaint Gobain 12.669,98

JV Cielo Banco do Brasil

Brazil Financial and InsuranceBB Elo Cartões

Participações, Cielo- 11.599,99

ALL - América Latina Logística


and LogisticsRumo Logística

Operadora Multimodal- 10.959,00

Global Workplace Solutions

United States

Consultancy, Audit and Engineering Real Estate

CBRE Johnson Controls 5.390,92

Rede D'Or São Luiz BrazilHealthcare, Hygiene, Medical Aesthetics

and Cosmetics


Corporation (GIC)


3.200,00


China Steel Corporation, Nisshin Steel, Kobe Steel, Posco Group -

Pohang Iron and Steel Company, JFE Steel Corporation, Itochu

2.620,02


and Cosmetics


Banco BTG Pactual, BTG Pactual Participations

2.380,00


and Cosmetics

Carlyle Partners VI, FBIE FIP II, Carlyle

South America Buyout Fund

- 1.750,00

TEAM

PROFILE

ABOUT US

Start of Activity 1995 Nº of employees 501-1000

Address Av. Almirante Barroso, 52 / 31º andar 20031-000 – Rio de Janeiro/RJ Telephone +55 (21) 3824-5800

Address Av. Pres. Juscelino Kubitschek, 1455 / 10º andar 04543-011 – São Paulo/SP Telephone +55 (11) 2179-4600

Address SCS Quadra 01 Bloco F 30 / 7º andar 70397-900 – Brasília/DF Telephone +55 (61) 3218-0300

Website www.bmalaw.com.brEmail [email protected]

BRAZIL


Founded in the 1990s, when Brazil was undergoing structural changes, BMA – Barbosa Müssnich Aragão was inspired by a mission to find innovative solutions that are legally viable and sustainable in an environment of rapid development, new regulatory frameworks and new business models in almost all sectors of the economy. Inspired to be a pioneering law firm, ready – and more than able – to take on the big projects and big problems that require sophisticated solutions.

An active participant in the privatizations that took place in the 1990s, BMA had achieved a solid reputation and both national and international recognition even before becoming one of the leading firms in Brazil in the mid-2000s, when the Brazilian market experienced a wave of IPOs and mergers and acquisitions.

BMA has been present in most of the major M&A transactions in Brazil over the last two decades, participating in the creation of corporate groups that do business around the world.

BMA has acquired an impressive stock of know-how in infrastructure projects, especially in the areas of ports, railroads, highways, oil and gas, energy, and telecommunications. The firm also had a major part to play in the 2014 FIFA World Cup, negotiating the contracts that gave Brazil the right to host the event and acting as legal counsel to the local organizing committee.

BMA’s experienced professionals know that a thorough understanding of our clients’ business objectives is essential. BMA works to achieve creative, effective solutions by integrating its specialist teams to ensure a multidisciplinary approach to legal problems.

BARBOSA, MÜSSNICH, ARAGÃOID in TTRecord.com: 3973

Francisco Müssnich Founding [email protected]

Luiz Antonio Campos Founding [email protected]

Paulo Cezar Aragão Founding [email protected]

Plínio Barbosa Founding [email protected]


TRANSACTIONS



(R$m)

HSBC BrazilFinancial and

InsuranceBradesco - 17,581.00

JV Cielo Banco do Brasil BrazilFinancial and

InsuranceBB Elo Cartões

Participações, Cielo- 11,600.00


BrazilHighways

Transportation, Aviation and Logistics

Rumo Logística Operadora Multimodal

- 10,959.00

Moy Park Ireland Food Industry JBS Marfrig 4,851.59

Aliança Geração deEnergia

Brazil Electric Energy

Cemig Geração e Transmissão,

Vale - Companhia Vale do Rio Doce

- 4,500.00


Brazil Mining FIP Multisetorial Plus IIVale - Companhia Vale do Rio Doce

4,000.00

Alpargatas Brazil Fashion and Textile J&F Investimentos Camargo Corrêa 2,667.00

Lote D hydroelectric plants

Brazil Electric Energy Cemig ANEEL 2,216.40

SPE Primav Newco BrazilHighways

Transportation, Aviation and Logistics

ASTM, SIAS Primav 2,200.00




Brazil EducationTreviso

Empreendimentos e Participações

Kroton Educacional

1,105.00

* Includes announced and closed M&A transactions and asset acquisitions in 2015.

• Largest M&A in the retail and consumer sector in Brazil in 2015 | Alpargatas in the sale of J&F

• Ranked #1 in amount of transactions distributed and originated in local fixed income market | 2015 ANBIMA Ranking

• Ranked #1 in amount of transactions distributed and originated in the securitizations market | 2015 ANBIMA Ranking

• Award “Latin America Port Deal of the Year 2015 – Euromoney”| Açu Port (Fixed Income)

• Bookrunner in all equity offerings with distribution efforts in 2015

• Lead-left bookrunner in the only IPO in Brazil in 2015 | Par Corretora

TEAM

PROFILE

ABOUT US


Address Av. Paulista, 1450, 8º andar 01310-917 – São Paulo, Brazil

Telephone +55 (11) 2178-4800Website www.bradescobbi.com.brEmail [email protected]

Address 450 Park Avenue, 32nd floor 10022, New York, NY, United StatesTelephone +1 (212) 688-8258

Address 110 Bishopsgate, 25th Floor EC2N 4AY, London, United KingdomTelephone +44 (0) 20 7382-0070

Address Level 19 Two International, Finance Centre, 8 Finance Street - Hong Kong, ChinaTelefone +852 2251-8717

BRAZIL

Bradesco BBI

Bradesco BBI, the investment bank of Bradesco Organization, is responsible for the origination, structuring, execution and distribution of transactions in mergers and acquisitions, equity capital markets, fixed income, structured and project finance segments. Bradesco BBI has a highly skilled and experienced team that benefits from synergetic relationships between the various business units of Banco Bradesco S.A.

Practice Areas

Investment Banking• M&A: Full advisory for mergers, acquisitions, divestitures and corporate restructurings for domestic andcross-border transactions.• Fixed Income: Full advisory for coordination, structuring and distribution of debt instruments, including debentures, promissory notes, CRIs, real estate funds, FIDCs and bonds in local and international capital markets.• Equity Capital Markets: Full advisory for coordination, structuring and distribution of public offerings of shares in local and international capital markets.

Awards & Recognitions

• Best Investment Bank in Brazil in 2016 by Global Finance

• Best Investment Bank in Brazil in 2016 by Euromoney

• Ranked #1 in value of announced M&A transactions in Brazil | 2015 ANBIMA Ranking

• Largest M&A in the infrastructure sector in Brazil in 2015 | Grupo CR Almeida in the sale of Gavio Group

• Largest M&A in the financial sector in Brazil in 2015 | Bradesco in the acquisition of HSBC Brazil

BRADESCO BBIID in TTRecord.com: 2755

Subsidiaries

Leandro de Miranda Araújo MD, Head of Investment Banking [email protected]

Alessandro Farkuh MD, Head of Mergers and [email protected]


BRADESCO PRIVATE EQUITYID in TTRecord.com: 28044

2BCAPITALID in TTRecord.com: 7902

COMPANY SECTOR

CPFL Energias Renováveis Renewable energy generation

Foxx Haztec Solid waste management

Active Sales Sales solution and lead management

Brennand Cimentos Cement production and distribution

Log Commercial Properties Commercial properties (Warehouses)

COMPANY SECTOR

BR Towers Telco towers management

TEAM

PROFILE

ABOUT US

PORTFOLIO COMPANIES

MAJOR DIVESTMENTS

Start of Activity 2011 Nº of Employees 1-20

Address Av. Paulista, 1450, 12º andar 01310-917 – São Paulo, SP

Telephone +55 (11) 2178-5593

BRAZIL

Bradesco Private Equity

Bradesco Private Equity invests in Brazilian companies with high growth potential and capacity to become leaders in their respective markets. It provides strategic support and helps implementing corporate governance best practices, seeking to develop cooperative long term relationships with companies it invests in. Bradesco Private Equity financial and strategic analysis is supported by its deep knowledge of the local markets, economy and competitive environment.

• Preferred investment stage: growth / mature stage• Preferred geography: Brazil• Multi sector approach: infrastructure, infra-related, staple and durable goods, services, retail, internet & technology, among others• Usual investment ticket: R$ 80 – 300 Million, with flexibility some for specific situations• Preferred stake: significant minority investments

Manuel de SousaExecutive [email protected]

Jean Pierre [email protected]

Daniel [email protected]

COMPANY SECTOR

Aramis Menswear retail

Corpflex Cloud computing services

Multi-Ar Online retail of air conditioners

TEAM

PROFILE

ABOUT US

PORTFOLIO COMPANIES


Address Av. Paulista, 1450, 12º andar 01310-917 – São Paulo, SP

Telephone +55 (11) 2178-5593Website www.2bcapital.com.br

BRAZIL

2bCapital

2bCapital invests in mid-sized Brazilian companies with potential for high growth and value creation. We provide strategic, financial and operational support and help implement world-class corporate governance practices, seeking to develop long term partnerships with shareholders. Our financial and strategic analysis is supported by a deep understanding of the local markets, economy and competitive environment.

• Preferred investment stage: growth stage• Preferred geography: Brazil• Multi sector approach: consumer goods, retail, service providers, among others• Usual investment ticket: R$ 40 – 80 million, range can be flexible in specific situations• Preferred stake: relevant minority stake

Manuel de SousaExecutive [email protected]

Guilherme Quintã[email protected]

Fabio [email protected]


BRAZIL

PROFILE

ABOUT US

Start of Activity 1983Nº of employees 3.200

Address Av. Brigadeiro Faria Lima, 3.477, 14º andar 04538-133 São Paulo, SP

Telephone +55 (11) 3383-2000Website www.btgpactual.comEmail [email protected]

Banco BTG Pactual

BTG Pactual is an innovative global financial company that operates in the markets of investment banking, corporate lending, sales & trading, wealth management and asset management. Since its inception, in 1983, BTG Pactual has been run as a partnership. It has 189 partners, 3.200 employees, and net equity of R$ 23,2 billion. BTG Pactual has offices in 20 countries and is headquartered in Brazil.

Practice Areas

• Investment Banking

• Asset Management

• Wealth Management

Awards and Recognitions

World Finance

2013 and 2012 – Best Investment Bank: Brazil

2013, 2012 and 2011 – Best Investment Bank: Chile

Euromoney

2013 – Best Equity House: Latin America

2013 – Best M&A House: Brazil

2013, 2011 and 2010 – Best Equity House: Brazil

LatinFinance

2013 – LatinFinance Equity House of the Year: Latin America

2013 – LatinFinance Investment Bank of the Year: Chile

Global Finance

2015 – Best Investment Bank: Chile

2014, 2013 and 2012 – Best M&A Bank: Latin America

The Banker

2013 – Most Innovative Investment Bank: Latin America

DealMakers

2015 – Best Investment & Asset Management Bank of the Year: Brazil

BANCO BTG PACTUALID in TTRecord.com: 2764

TRANSACTIONS



(R$m)


Tobacco Américas




and Cosmetics


Corporation (GIC)


3.200,00


and Cosmetics




Latin America Power Chile Electric Energy SunEdisonP2Brasil, Banco

BTG Pactual, GMR Energía

2.218,65

SPE Primav Newco BrazilRailroads


ASTM, SIAS Primav 2.200,00

BR Properties Brazil Real Estate GP Real PropertiesEminence Holdings, Private Shareholders

1.896,47


and Cosmetics

Carlyle Partners VI, FBIE FIP II, Carlyle

South America Buyout Fund

- 1.750,00

Nova Renova Energia, Salvador Holding

Brazil Wind Energy TerraForm Global Renova Energia 1.477,00

BRPR 47 Empreendimentos Imobiliários e Participações

Brazil Real Estate Brookfield Brasil BR Properties 1.279,00







*Includes closed M&A transactions in 2015.


CANDIDO, MARTINS & GALIZZI ADVOGADOS ID in TTRecord.com: 12468

BRAZIL

Address Avenida Brigadeiro Faria Lima, 3311, 6th floor 04538-133, São Paulo, SP

Telephone +55 (11) 5545 4010Website www.cmglaw.com.brEmail [email protected]

PROFILE

ABOUT US

Start of Activity August 2, 2010 Nº of employees 15

Candido, Martins & Galizzi Advogados

Candido, Martins & Galizzi was born from the encounter of the will and ideals of the founding partners, who dedicate their surname to the formation of the initials CM&G: Alamy Candido, Henrique Martins and Gustavo Galizzi. The three were colleagues in a law firm in São Paulo and decided to listen to their entrepreneurial calling to open their own law firm. This idea sprouted to life with the creation in August 2010 of CM&G.

The Law Firm provides assistance in several areas of corporate and tax law, with a focus on mergers and acquisition, consulting and related disputes.

Our lawyers have obtained a formation in prestigious national and international institutions, being capable of conducting local and cross border transactions.

CM&G is a law firm that seeks to reproduce in the dealings with clients the close relationship and commitment that it has among its lawyers and collaborators. It differs due to the individualized attention, which reflects in personalized solutions.

Legal practice is a tailor-made activity and tailor-made is the nature of the services of CM&G to people that come to its office. It is, above all, a craftsmanship of people.

Practice AreasMergers and Acquisitions, Corporate consulting and contracts, private equity, due diligence, tax planning, consulting and litigation, foreign investment and international contracts, capital markets and administrative proceedings and arbitration


• The Legal 500 Latin America Leading Individual 2014 (for all partners).• The Legal 500 Latin America Leading Firm 2014. • IFLR 1000 Financial and Corporate Recognised Firm 2015.• LACCA Latin American Corporate Counsel Association Approved Directory 2016 (Henrique Martins).

Mission

Understand the client and take care of his/her case with security and proximity; serve as a legal reference and constant partner of those seeking the office; be a workplace where people matter.

Vision

To be recognised as a first tier law firm.

Values

Our values are shaped on CARE, knowing the needs of others, listening, understanding, respecting. It is in the collaboration, cooperation that establishes our synergy. It is in the integrity and knowledge that govern our decisions.

TRANSACTIONS

* Includes closed and announced M&A, Joint Venture and Corporate Restructuring transactions between 2014 and 2016

TARGETCOUNTRY(TARGET)


(R$m)

Loducca BrazilMarketing and

AdvertisingGrupo ABC


80,00

Positivo Informática da Amazônia, Positivo Informática

Brazil Technology - - 40,00

JV Paulinho da Costa BrazilMedia, Multimedia

and EditorialNuclear - 1,50

Mix Brazil Food Industry Duas RodasPrivate

ShareholdersND

Qualyquímica BrazilChemical and

Chemical MaterialsAqua Capital


ND

JV Regina Convergram BrazilGlass, Ceramic, Paper, Plastics,

Wood and TimberRegina Festas - ND

Target Brasil BrazilChemical and

Chemical MaterialsBrandt do Brasil


ND

Geneseas Brazil Distribution and Retail Aqua Capital - ND

Grupo MPR Brasil Brazil Financial and Insurance Alothon Fund IIPrivate

ShareholdersND

Agtal Brazil Food Industry CasadocePrivate

ShareholdersND

JFLog Participações BrazilTransports, Aviation

and LogisticsAgro Improvement Marseille FIP ND

Novanis Animal Brazil Food Industry Agroceres MultimixPrivate

ShareholdersND

Aquafeed BrazilAgriculture,

Agribusiness, Farming and Fishing

Aqua CapitalPrivate

ShareholdersND


COUTO SILVA ADVOGADOSID in TTRecord.com: 25088

BRAZIL

Address Av. Ataulfo de Paiva, 1.235, 4º andar - Leblon 22440-034, Rio de Janeiro, RJTelephone 55 (21) 2529 0650

Website www.coutosilva.com.brEmail [email protected]

PROFILE

ABOUT US


Couto Silva Advogados

COUTO SILVA ADVOGADOS was conceived as a boutique law firm with expertise in Dispute Resolution, Corporate and Tax Law, where each matter has the direct personal attention of partners.

Formed by professionals with solid academic background, and deep expertise in corporate and tax law, COUTO SILVA ADVOGADOS values the personal, exclusive and private relationship with clients.

Our extensive experience in mergers and acquisitions, corporate and tax law, allows us to work on both simple and complex projects, as well as small and large transactions. Our advice takes into account the business, financial, and strategic environment of our clients. To achieve this level of personalized approach, the firm handles a limited number of clients and issues.

COUTO SILVA ADVOGADOS has acquired a deep know-how in various sectors of the economy, with emphasis on financial institutions, investment funds, energy, oil, gas, mining, steel, technology, pharmaceuticals, chemicals, food, beverage, automotive, maritime shipping, aviation, logistics, entertainment and retail.

Practice Areas• Administrative

• Mergers and Acquistions

• Real Estate M&A

• Capital Markets

• Conflict Resolution

• Corporate

• Labor Law

• Tax

* Includes closed M&A transactions between 2013 and 2016.



(R$m)

Odebrecht Ambiental BrazilWaste Management,

Pollution and RecyclingFI - FGTS, Funcef - 615,00

Energisa Brazil Electric Energy FIP da Serra Gipar 613,40

Acesso Soluções BrazilTechnology

Distribution and RetailPrivare Shareholders, Duxx Investimentos

- 12,09

FSB Consumo BrazilMarketing and

AdvertisingPrivare Shareholders

FSB Comunicações

ND

Brasbunker BrazilTransports, Aviation

and LogsticsShipbuilding

OprimeDSB Serviços de óleo e gás

ND

TRANSACTIONS


DELOITTE BRAZILID in TTRecord.com: 3342

BRAZIL

Address Avenida Dr. Chucri Zaidan, 1.240, 12º andar – Golden Tower, São Paulo, SP, 04711-130

Telephone 55 (11) 5186 1000Website www.deloitte.com.br

PROFILE

ABOUT US

Start of Activity 1911 – start of operations in Brazil from the Rio de Janeiro office.

Nº of employees More than 5,500 professionals, more than 170 partners.

Transaction Services and M&A Team

Deloitte Brazil

Deloitte provides audit, consulting, financial advisory, risk management and tax to public and private clients spanning multiple industries. Deloitte serves four out of five Fortune Global 500® companies through a globally connected network of member firms in more than 150 countries bringing world-class capabilities, insights, and high-quality service to address clients` most complex business challenges. To learn more about how Deloitte`s approximately 225,000 professionals make an impact that matters, please connect with us on Facebook, LinkedIn ou Twitter.

Offices in Brazil

Brasília, Belo Horizonte, Campinas, Curitiba, Fortaleza, Joinville, Porto Alegre, Recife, Ribeirão Preto, Rio de Janeiro, Salvador and São Paulo.

Financial Advisory Solution’s

Deloitte supports organizations in the most diverse Corporate transactions and their business challenges: from merger and acquisition transactions to reorganization processes; from business valuations to the management of your assets.

Below is a summary of our portfolio of Financial Advisory solutions:

• Corporate Finance Advisory (it includes M&A and Tax incentives funding)

• M&A

• Reorganization of Companies and Judicial Administration

TEAM

Afonso Silva [email protected]

André Bueno [email protected]

Carlos Rebelatto [email protected]

Cristina Hae Soh [email protected]

Eduardo Martins [email protected]

Érica Almeida [email protected]

John Cunningham Partner [email protected]

Reinaldo Grasson [email protected]

Ronaldo Xavier [email protected]

Sérgio Caldeira [email protected]

Ubirata Bertelli Costa Partner [email protected]

• Integrated Asset Management (it includes Capital Projects)

• Business Valuation Advisory

• Forensic

Corporate Finance Advisory and M&AAdvisory to organizations in the most diverse corporate transactions and their business challenges — from merger, sale or acquisition transactions to fund raising to expand their activities or reorganize their capital structure. We also support the business integration process.

Reorganization of Companies and Judicial AdministrationAdvisory to organizations in all stages of the business cycle, from operational reorganizations to invert the drop in performance and adapt to the market conditions to the financial restructuring during a possible pre-solvency stage, by helping recovering the business value. We have a solid presence in judicial administration processes as well.

Integrated Asset ManagementDeloitte offers specialized support to organizations to assess their investment options — through acquisition or construction — and assist in the control efforts and cost reduction and maximization of the potential capital and shareholders’ return.

Due to the complexity of major projects, Deloitte offers a team specialized, composed by engineers with experience in the construction industry, to assist in the evaluation of possible risks when investing in an intensive building capital project.

Business Valuation AdvisoryDeloitte helps organizations to solve business challenges and complex transactions with business valuation, independent review, and business modeling.

Forensic Deloitte has work teams with professional certification, proven experience in crisis situations and the most modern systems and equipment to offer advisory and solutions for situations involving corporate fraud investigation, due diligence, and anticorruption programs, as well as advisory on court litigation and arbitration.

Complete unique solutions for merger and acquisition

Complete set of solutions to assist organizations and investors in all phases of a M&A operation, from the strategy definition going through the steps of identifying and evaluating targets, due diligence, transaction execution and integration to the divestment.

Debt & Capital AdvisoryWe provide services with excellence from a deep knowledge and a broad understanding of the debt markets. In addition, our relationship with banks and financial institutions is critical to achieving the goals of the organization.

Quoted Company AdvisoryServices to private companies who wish to access funds through an IPO (Initial Public Offering).

Key industries served

Banking & Securities, Chemicals & Specialty Materials, Consumer Product, Health Care, Industrial Products & Services, Insurance, Life Sciences, Oil & Gas, Real Estate, Retail, Wholesale & Distribution, Shipping & Port, Telecommunications Transportation, Travel, Hospitality & Services, Water, Automotive, Consumer Products, Education, Health Care, Life Sciences, Media, Mining, Technology.

Country desks

China, France, Germany, Japan, Korea, North America and United Kingdom.


DEMAREST ADVOGADOSID in TTRecord.com: 2760

BRAZIL

Address Av. Pedroso de Moraes, 1.201 Centro Cultural Ohtake 05419-001 São Paulo, SP

Telephone +55 (11) 3356-1800 Website www.demarest.com.brEmail [email protected]

M&A AND CORPORATE TEAM

PROFILE

ABOUT US

Start of Activity 1948 in São Paulo

Nº of employees The firm has a team of 380 lawyers of which are 63 partners. Demarest has one of the largest corporate practice groups in Brazil, with 15 partners, 11 senior associates, 27 associates and 20 law students and paralegals.

Offices São Paulo, Campinas, Rio de Janeiro, Brasília, New York.

Demarest AdvogadosDemarest Advogados was founded almost 70 years ago and has always been renowned for its strong M&A practice and has been one of the most active law firms in corporate transactions in Brazil in recent decades. Demarest is one of Brazil’s few truly full-service law firms operating at the top end of the market; the firm’s corporate / M&A practice group works closely with the firm’s market-leading departments in key overlapping areas.Our corporate practice group handles the complete range of corporate work from high-end M&A, joint ventures and corporate reorganizations to day-to-day corporate matters for key clients. Demarest’s corporate department is renowned for handling some of the market’s largest and most sophisticated transactions, and for its business-oriented, practical approach and creativity in negotiations.

Our main M&A clients

Demarest is also recognised by its ability, initiative and dedication to provide responsible, efficient and high quality legal service to all of its clients doing business in Brazil and abroad. The firm advises several multinational companies and largest Brazilian groups in a vast range of industries, such as, but not limited to: 3M, Air France, Bacardi-Martini, BMW, Boehringer Ingelheim, Bombardier, BP, Braskem, British Telecom, Cencosud, Clariant, Deloitte, Diageo, Diebold, Dow, Goodyear, IAG Group (British

Altamiro Boscoli, [email protected]

André Alarcon, [email protected]

Edimara Wieczorek, Partner [email protected]

Gabriel Kuznietz, Partner [email protected]

Glaucia Ferreira, Partner [email protected]

João Almeida, Partner [email protected]

José Diaz, Partner [email protected]

Lucas Tavares Bueno, Partner [email protected]

Luciana Cossermelli Tornovsky, Partner [email protected]

Maria Lúcia de Almeida Prado e Silva, Partner - Corporate Responsible [email protected]

Paulo Coelho da Rocha, Partner - M&A [email protected]

Roberto Portella, [email protected]

Thiago Sandim, Partner [email protected]

Airways and Iberia), IBM, Johnson & Johnson, Metro, Mercedes-Benz, Monsanto, Motorola, Nestlé, Netflix, Nike, Odebrecht, Pfizer, PSA Peugeot Citroen, Reckitt Benckiser, Qatar Petroleum, TAM, Time Warner, Unilever, Universal Studios, Visteon, Volkswagen, Votorantim and others. And also private equity, investments and sovereign funds such as Abu Dhabi Investment Council, Assicurazioni Generali S.p.A., Banco BTG Pactual, CIC - China Investment Corporation, GIC - Sovereign Wealth Fund of Singapore, Invepar, Morgan Stanley, OTPP Board, Vinci Capital, Vinci Partners among others.

Our main practice areas

Agribusiness, aviation law, banking and finance, biotechnology, capital markets, competition law, compliance, contracts, corporate criminal law, corporate law, corporate restructuring, energy, environmental, government relations, infrastructure, insurance and reinsurance, intellectual property, international trade and customs, labour and employment, litigation and arbitration, maritime law, mergers and acquisitions, oil and gas, public and regulatory, real estate, social security, sports and entertainment, tax.

Foreign desks: Asian (Chinese, Korean), French, German, Iberian (Spanish, Portuguese).

TRANSACTIONS

* Includes announced and completed assets, stakes, and joint venture purchase/sale transactions between 2014 and 2015.



(R$m)

Cementassets

France, Germany, Hungary, Romania,

Serbia, Slovakia, United Kingdom, Canada,United

States, Philippines, Brazil

Construction, Materials and

MachineryCRH

HolcimLafarge

24.585,60

Dow chlor-alkali Business

United StatesChemical and

Chemical MaterialsOlin Corp Dow Chemical

16.049,19 (Approx.)

Pioneer Investments, Santander Asset

Management

Italy,Spain


- - 15.251,85

TI Automotive United States Distribution and Retail Fund XI - 7.157,07

BSI Bank SwitzerlandFinancial and

InsuranceEFG International Banco BTG Pactual 6.056,45

Rede D’Or São Luiz BrazilHealthcare, Hygiene, Medical Aesthetics

and Cosmetics


Corporation (GIC)-

6.000,00(Approx.)

Enlarged Group United KingdomFinancial and

InsuranceICAP, Tullett Prebon,

ICAP NewCo- 5.974,32

Brit plc United KingdomFinancial and

InsuranceFairfax


5.335,31


InsuranceBanco BTG Pactual

Assicurazioni Generali

4.954,65

Joanes Industrial Brazil Food IndustryOutspan Brasil Importação e Exportação

Archer Daniels Midland ADM

3.471,37

Royal & Sun AllianceArgentina, Chile, Colombia, Brazil,Mexico, Uruguay


Suramericana

Sun Alliance Insurance

Overseas, Royal & Sun Alliance Group

2.657,61

Fasteners manufacturing

assetsUnited States


American Industrial Partners

Anixter International

1.092,40

Water treatment assets

Argentina, Brazil, Colombia

Water andSanitation

Ecolab Clariant ND


TEAM

ABOUT US

Address Rua Helena 260, 10º andar, 04552-050 São Paulo, SPTelephone +55 (11) 3046-4404Website www.derraik.com.brEmail [email protected]

Address Rua Santa Luzia 651/31º andar, Centro 20021-903 Rio de Janeiro, RJTelephone +55 (21) 2271-3300

BRAZIL


With more than a decade of existence, two offices in Brazil and close associations with first tier firms all around the world, Derraik & Menezes Advogados provides legal counseling to international and domestic companies established or starting its investment in Brazil, as well as to Brazilian companies that are expanding their activity in Brazil and abroad.

We offer flexible services and tailor-made solutions to help businesses of all kinds meet challenges and maximize opportunities through individually tailored combinations of local experience and international know-how.

Our offices are composed of a team of approximately 25 talented lawyers, who are frequently called upon to assist many of the largest US, European and Asian companies and funds in managing their investments, acquisitions or other matters simultaneously in Brazil and in multiple Latin American countries.

DERRAIK & MENEZES ADVOGADOSID in TTRecord.com: 9003

PROFILE


Ana Cristina Kleindienst Associate

Ana Paula FerreiraAssociate

Bianca WolfAssociate

Breno BassoliAssociate

Camila DuarteAssociate

Carlos DerraikFounding Partner

Carlos Eduardo GonçalvesAssociate

Eduardo PedrosoAssociate

Fernanda LinguanottoAssociate

Gustavo DalcolmoAssociate

Gustavo GodoyAssociate

Irina SantarossaAssociate

Juliene PinianoAssociate

Júlio AlexandrinoAssociate

Lucilene PradoPartner

Marcela RosolenAssociate

Maysa ZardoAssociate

Pablo SalariniAssociate

Pedro Ferreira Associate

Raquel HagiharaAssociate

Rodrigo MenezesFounding Partner

Rodrigo RouxAssociate

TRANSACTIONS

* Includes closed M&A transactions and asset acquisitions from 2014 and 2015.


SUBSECTOR BUYER SELLERTOTAL VALUE

(R$m)

TRW (Engine Components Division)

BrazilAutomotive and

Recreational VehiclesFederal Mogul


1.073,22

Network1 BrazilTelecoms


CDC BrasilPrivate

Shareholders160,00

WebRadar Brazil TechnologyQualcomm Ventures,

DGF FIPAC 2(DGF investimentos)

- 40,00

Dr. Consulta BrazilHealthcare, Hygiene, Medical Aesthetics

and Cosmetics

LGTVP; Kaszek Ventures


30,00

Chefs Club BrazilInternet

Distribution and RetailCONFRAPAR


3,00

ProRadis BrazilHealthcare, Hygiene, Medical Aesthetics

and Cosmetics

Vox Capital,Performa Investimentos

- ND

GIP Medicina Diagnóstica


and CosmeticsCasa de Gestão


ND

Resultados Digitais BrazilMarketing and Advertising

Technology

Astella, DGF Investimentos,

Redpoint (follow on)


ND

Ainstec Brazil TechnologyDGF Investimentos e SP

Ventures (follow on)Private

ShareholdersND

Avante BrazilTechnologyEducation

Vox CapitalPrivate

ShareholdersND

Lupeon BrazilTechnology


SP Ventures - ND

Practice AreasAntitrust and Competition, Aviation, Biotechnology, Corruption and Fraud, Construction and Project Development, Financial and Banking Regulations and Operations, Mergers and Acquisitions, Intellectual Property, Conflict Resolution, Corporate and Commercial, Labor, Tax, Third Sector, Venture Capital/Private Equity.


M&A AND CORPORATE TEAM

ABOUT US

Address Av. Paulista 1079 - 4º e 5º andares 01311-200, São Paulo, SPTelephone +55 (11) 3087-2100

Website www.dcadv.com.brEmail [email protected]

BRAZIL

DIAS CARNEIRO, ARYSTÓBULO, FLORES, SANCHES, TURKIENICZ, AMENDOLA, WAISBERG E

THOMAZ BASTOS

Founded in 2002, DCA developed a strong international client base due to its former association with Spain’s Uría Menéndez, combining the experience and standards of a major international law firm with personalized, responsive and efficient assistance to clients. In recent years, the firm has become a strong full-service option and has been consistently singled out by all relevant domestic and international publications as one of the most renowned firms in Brazil, including Chambers Global and Latin America, IFLR, Latin Lawyer, Analise Advocacia, Legal 500, LACCA among others. We have participated in some of the most important domestic and international mergers and acquisitions and financing transactions, especially in the infrastructure and energy sectors, including several that have been named “Deal of the Year” by international publications.DCA´s Corporate and M&A practice concentrates in the structuring of M&A transactions, joint ventures, reorganizations, business combinations, spin-offs and the design and implementation of complex corporate structures, in addition to the general legal assistance to clients on a regular basis. With a natural talent for middle market transactions, DCA’s Corporate and M&A practice has a solid track record and is particularly known in the financial, technology, infrastructure and energy sectors.

DIAS CARNEIRO, ARYSTÓBULO, FLORES, SANCHES, TURKIENICZ, AMENDOLA, WAISBERG E THOMAZ BASTOSID in TTRecord.com: 2216

PROFILE


Andre de Melo [email protected]

Antonio [email protected]

Arystóbulo de Oliveira [email protected]

Bruno Kurzweil de [email protected]

Eduardo [email protected]

Henrique Dias [email protected]

Ivo [email protected]

Joel Luis Thomaz [email protected]

Ricardo Brito [email protected]

Ricardo Pomeranc [email protected]

Ricardo [email protected]

Thiago Vallandro [email protected]

Eduardo [email protected]

SELECTED TRANSACTIONS

* Includes closed M&A transactions in 2015.

In the wake of the country´s recession, our Corporate and M&A practice has worked closely with the restructuring practice on a number of corporate reorganizations and distressed M&A and private equity transactions.The firm´s increasingly active venture capital practice has also helped boost activity in 2015, with the represen-tation of venture capital funds based in the U.S. and in Brazil as well as technology companies on a number of venture capital financings transactions.



(R$m)

Banco BBM Brazil Financial and Insurance Bank of Communications Private

Shareholders525,00

Grupo Ruette BrazilFood Industry

BiofuelBlack River Agriculture


300,00

Nterra Participações Brazil Internet HortifrutiPrivate

Shareholders145,00

99Taxis Brazil InternetQualcomm Ventures, Tiger

Global Management, Monashees Capital

- 125,00

GetNinjas Brazil Internet Tiger Global Management - 40,00

ZeroPaper Brazil Internet Intuit21212, Private Shareholders,

TOTVS Ventures36,40

Aqualav Serviços de Higienização

BrazilOther Services

Fashion and TextileSRI Empreendimentos

e ParticipaçõesPrivate

Shareholders13,60

BankFacil BrazilFinancial and Insurance

Internet

Accion’s Frontier Investments, Redpoint

e.Ventures- 10,31

Meus Pedidos BrazilTechnology

Distribution and RetailQualcomm Ventures, Monashees Capital

- 6,00

Eneva BrazilEnergy and Renewable

EnergiesICE Canyon and Pine

River CapitalPetra Energia ND

Magnetis Consultoria de Investimentos

BrazilFinancial and Insurance

InternetMonashees Capital, Redpoint e.Ventures

- ND

Main Practices• Anticorruption and Corporate Integrity• Antitrust and Competition• Banking, Credit and Project Finance• Civil Litigation• Corporate, Mergers and Acquisitions and Capital Markets• Environmental• Franchising / Distribution / Commercial Contracts

• Intellectual Property / Entertainment Law / Technology• Labor, Social Security and Immigration Law• Licensing• Public Law, Regulatory and Infrastructure• Real Estate• Restructuring and Insolvency• Tax• Venture Capital and Startups


TEAM

ABOUT US

Address Praça General Gentil Falcão, 108, 3º Andar 04571-150, São Paulo, SP

Telephone +55 (11) 2613-5065Website www.excelia.com.brEmail [email protected]

BRAZIL

EXCELIA GESTÃO E NEGÓCIOS

Excelia is a management consultancy for value generation, with an executive approach.

We are not a traditional consulting company that presents recomendationreports. We’re an implementation of value initiatives and concrete outcomes generation company, which operates on the day-to-day business in order to accomplish missions with a sense of urgency and interests aligned with the shareholders.

Challenges involving fast growth, startup, restructuring, succession preparing, professionalization, IPO preparation and conduction are some examples of the critical situations experienced by the Excelia partners and team.

Our solutions represent a complete Excelia project cicle: Analyze how the company has been operating until the moment, plan the value generation initiatives on short term, implementation and execution of the value initiatives for a new reality and once the client’s company is operating on a sturdier management platform attract new capital for a new growth ciclewith long term focus.

Clustered in 4 sets –Financial and Operational Performance, Strategy & Value Planning, (Management &) Execution of Initiatives and Mergers & Acquisitions –our solutions have a commompourpose: Generate Value for shareholders.

PROFILE


Leonardo ToscanoManaging [email protected]

André MadrugaOperations [email protected]

Alex SilvaProject [email protected]

Demétrio HabibProject [email protected]

Ricardo de JesusProject [email protected]

Tomás Sallowicz [email protected]

Vinicius CostaProject [email protected]

EXCELIA GESTÃO E NEGÓCIOSID in TTRecord.com: 28610

TRANSACTIONS


Practice Areas

• Finantial & Operational Diagnostic• Strategy & Value Planning• Management & ExecutionofInitiatives• Mergers and Acquisitions



(R$m)

Tecbril BrazilChemical and

Chemical MaterialsPetroplus SOFAPE ND

Bace Healthcare Brazil


and CosmeticsConsultancy, Audit and Engineering

Hartmann GroupPrivate

ShareholdersND

Lab SSJ,Affero

BrazilConsultancy, Audit and Engineering

Education- - ND

Aços Macom BrazilSteel, Metallurgy and Industrial Production

Hoshizaki AmericaPrivate

ShareholdersND


FELSBERG ADVOGADOSID in TTRecord.com: 7591

TEAM

ABOUT US

Address Av. Cidade Jardim, 803, 5º andar Edifício Cidade Jardim 01453-000, São Paulo, SP

Telephone +55 (11) 3141-9100Website www.felsberg.com.brEmail [email protected]

BRAZIL

FELSBERG ADVOGADOS

FELSBERG ADVOGADOS is part of an exclusive group of prominent law firms in Brazil with significant domestic and international presence. Its solid reputation is the result of its dedication and commitment to its clients – a strategy that has guided the firm’s business activities since it was founded by Thomas Benes Felsberg in 1970.

This commitment is evidenced by the variety of practices as well as the involvement and impressive educational and professional background of its members. The firm’s encouraging environment and belief in constant growth and development has strengthened its team’s experience and range of expertise in all areas of corporate law, making it a recognized and respected point of reference in the legal field.

PROFILE


Thomas Benes [email protected]

Maria da Graça de Brito Vianna [email protected]

Sergio Silva do Amaral [email protected]

Ivan Luiz Sobral [email protected]

Claudia Maniaci [email protected]

Marcus Alexandre Matteucci [email protected]

Anna Flávia de Azevedo Izelli [email protected]

Thiago Rufalco [email protected]

Paulo Fernando Campana Filho [email protected]

Fabricio Dorado [email protected]

Evy Cynthia [email protected]

Fernanda Costa do [email protected]

João Carlos Anderson Corrêa de Mendonç[email protected]

Daniel [email protected]

Luis Antonio Menezes da Silva [email protected]

Pedro Henrique Torres [email protected]

Fabio Luiz Peduto [email protected]

Fabiana Bruno Solano [email protected]

João Paulo de Carvalho [email protected]

Maurício Pepe de [email protected]

TRANSACTIONS




(R$m)

Celpa Brazil Electric Energy Equatorial Energia Rede Energia 2.325,00

Lupatech Brazil Oil and GasGarden City Group (as Representative)

- 737,23

Pan Corretora Brazil Financial and InsuranceCaixaPar, Banco

BTG PactualBanco Pan 580,00

Andritz Hydro BrazilSteel, Metallurgy and Industrial Production

Andritz BrasilInepar Indústria e Construções

52,50

Renova Corretora de Câmbio

Brazil Financial and InsuranceConfidence Corretora

de Câmbio- ND

Pan Seguros Brazil Financial and Insurance BTGP Seguradora Banco Pan ND

Rede Energia Brazil Electric Energy EnergisaPrivate

ShareholdersND

Practice Areas

• Administrative Law• Agribusiness• Arbitration and Mediation• Aviation Law• Banking and Finance• Capitals market• Consumer Relations• Corporate Agreements• Corporate Law• Country Desks• Economic and Competition Law• Energy• Environmental Law• Foreign Investment• Healthcare• Immigration• Information Technology

• Infrastructure• Insolvency• Insurance and Reinsurance• Intellectual Property• International Trade• Labor• Litigation• Maritime• Mining• Oil and Gas• Real Estate Financing• Sanitation• Sports and Entertainment• Tax• Telecommunications• Transportation and Logistics• Waste


GT LAWYERSID in TTRecord.com: 25255

TEAM

ABOUT US

Address R. Bandeira Paulista, 275, 1º andar 04532 010, São Paulo, SP

Telephone +55 (11) 3504-7600Website www.gtlawyers.com.brEmail [email protected]

BRAZIL

GT LAWYERS

Idealized by professionals who believe business law is a tool for resolution of the problems faced daily by compa-nies and an instrument to optimize their results, GTLawyers is formed by a team of lawyers who have a high level of commitment, all with extensive experience in cross-border transactions, especially projects involving foreign investments in Brazil, through greenfield projects, acquisitions or joint ventures with established local players.

GTLawyers was founded thanks to the synergy among its partners and their solid portfolio of clients built up during more than 15 years of working for medium and large companies and groups, foreign investors and business families, to promote the success and growth of their projects in Brazil, with absolute focus on clients, supported by a complete and modern structure.

PROFILE


Practice Areas

• Corporate Law• Cross Border Transactions• Tax Law• Banking and Capital Market• Real Estate Law• Labor Law• Strategic Civel Litigation

Tamy [email protected]

Eduardo Junqueira de Oliveira [email protected]

Rafael Bertachini Moreira [email protected]

Roberto [email protected]

TRANSACTIONS




(R$m)

Elismol Brazil



Groupe CGRPrivare

ShareholdersND

Hartmann Indústria e Comércio de

Produtos Médico-hospitalares

Brazil

Glass, Ceramic, Paper, Plastics, Wood and Timber


Groupe CairPrivare

ShareholdersND

Troya Tech Brazil

ElectronicsConsultancy, Audit and Engineering


ERMA ElectroniquePrivare

ShareholdersND

Mariol Medica-mentos

BrazilPharmaceutical,


Unither FarmaceuticalsPrivare

ShareholdersND

SanMedical BrazilHealthcare, Hygiene, Medical

Aesthetics and CosmeticsMacopharma

Privare Shareholders

ND

MM Groupe Par-ticipações, I-value

TecnologiaBrazil Financial and Insurance

Famatown Finance Limited

- ND

SBS - Serviços Brasi-leiros de Suprimentos

BrazilDistribution and RetailSteel, Metallurgy and Industrial Production

PrivareShareholders

Entrepose Group

ND

FM do Brasil, FM Propertiesc

BrazilTransport, Aviation

and LogisticsBresco Investimentos

FM Logistic do Brasil

ND


TEAM

PROFILE

ABOUT US

Nº of employees 11 - 50

BRAZIL

Halembeck Barros e Sicherle Advogados

Halembeck Barros e Sicherle Advogados specializes in mergers and acquisitions (M&A), and additionally covers the full spectrum of corporate law.

We have successfully implemented more than 100 M&As, with proven experience on both sides of the transactions.

In addition to the hands-on expertise acquired over the years, the ongoing training program keeps the Halembeck Barros e Sicherle Advogados staff abreast of the very latest M&A developments, including the most complex and controversial aspects in the field.

HALEMBECK BARROS E SICHERLE ADVOGADOSID in TTRecord.com: 8862

Address Av. Brig. Faria Lima, 1309, 10º Andar 01452-002 São Paulo, SP

Telephone +55 (11) 3092-8080 Website www.hmbadvogados.com.br

Bruno de Barros Carvalho [email protected]

Camillo Stefano Maria [email protected]

Carla Dias Alves Anastácio Loures [email protected]

Carolina Martins Mô[email protected]

Daniel Vianna de Azevedo [email protected]

Laura Molinari de Cerqueira [email protected]

Lucca Walker [email protected]

Luciana de Godoy Penteado [email protected]

Luciane [email protected]

Luisa [email protected]

Luiz Fernando Amaral [email protected]

Mônica Scuro [email protected]

Patrícia [email protected]

Roberto [email protected]

TRANSAÇÕES DESTACADAS

TARGETPAÍS

(TARGET)SUBSETOR COMPRADOR VENDEDOR

VALOR TOTAL (R$m)

Ibmec Brazil Education DeVryBurnside Strategies, Everett

Group, Verus Holdings, Private Shareholders

717.00

Naturalle Brazil Food Industry Itochu Axial Participações 54.77

Neolog Brazil Technology TOTVS Private Shareholders 15.55

Divisão de Equipamentos

BrazilTechnologyElectronics

Furukawa Industrial

Produtos Elétricos(Furukawa)

AsGa ND

Alliar Medicina Diagnóstica

Brazil


Cosmetics


Private Shareholders ND

Corpflex Informática BrazilTechnology Telecoms

2bCapital Brasil Capital de

Crescimento I FIPPrivate Shareholders ND

Contrail BrazilTransport, Aviation

and LogisticsEurogate

BTG Pactual Infraestrutura II FIP, EDLP Estação da

Luz ParticipaçõesND

Revolution Brasil BrazilMarketing and

AdvertisingPrivate

ShareholdersPropeg Comunicação ND

EcoSabor Alimentos Brazil Food and BeverageAxial

Participações- ND

Inteligência de Negócios Comércio de Software

Brazil TechnologyPrivate

ShareholdersPrivate Shareholders ND

Naturalle Agro Mercantil Brazil

Agriculture, Agribusiness, Farming and

Fishing

Axial Participações


* Includes closed M&A transactions and asset acquisitions in 2015.

Practice Areas

• Arbitration• Capital Markets• Corporate / M&A• Trade Finance• Wealth Planning


TEAM

PROFILE

ABOUT US

Start od Activity 2011 Nº of employees 1-50

Address Av. Paulista, 1.636, 4º Andar, Conj. 410, Bela Vista São Paulo, SP

Telephone +55 (11) 2348-4330 Website www.jkcapital.com.brEmail [email protected]

BRAZIL

JK Capital

We are an independent corporate finance advisory firm, specialized in resource raising operations, Mergers and Acquisitions (M&A)

Our goal is to act as an alternative to traditional investment banks for the entrepreneur, offering a high standard technical expertise, allied to a safe, objective and close-to-the-client process. We always aim for customized negotiation structures that maximize the operation’s value and increase its chances of success. We deem for the proximity with the client in every step and decisions that involve this kind of process.

Fields of Action

JK Capital acts in resource raising operations, Mergers and Acquisitions, advising firms in resource raising projects and total or partial ownership rights sale. We also develop investment projects in firms and lead acquisition processes.

Our goal is to help our clients that are interested in processes of acquisition, sale or capitalization of companies, aligning both party’s interests, in order to maximize the transaction value as a hole, delivering value with the technical expertise and track record of successful transactions closed.

Our main services are:

• Valuation

• Advisory in Acquisitions

• Advisory in Sale and Resource Raising

• Preparation for M&A

JK CAPITALID in TTRecord.com: 36994


TRANSACTIONS



(R$m)

Centro Educacional Nossa Cidade

Brazil EducationSociedade

Educacional Atual da Amazônia


Faculdade ASSESC Brazil EducationSociedade

Educacional Atual da Amazônia


Argofruta BrazilAgriculture, Agribusiness,

Farming and FishingDistribution and Retail

Total Produce Holdings Brasil


Heraeus Vectra do Brasil

Brazil Technology PGM Technologies Heraeus Holding ND

Promax Engenharia e Projetos

BrazilConsultancy, Audit and Engineering

Segula Private Shareholders ND

Faculdade da Serra Gaúcha

Brazil Education Advent International Private Shareholders ND

Escola Paulista de Direito

Brazil Education Grupo SEB Private Shareholders ND

International Network

Throughout a vast network of international partners, with physical presence in Latin America, USA, main European countries and Asia, JK Capital has access to the main investor markets.

Its constant relationship with partners and international investor groups allows JK Capital to continuously monitor the intention of foreign groups in expanding their operations to Brazil and Latin America.

José Kobori Managing Director (MD)[email protected]

Daniel Damiani Partner [email protected]

Luís Mazzarella Martins [email protected]

Marcell Portugal [email protected]

Saulo Sturaro [email protected]


TEAM

PROFILE

ABOUT US


Address Av. Brigadeiro Faria Lima, 1355, 18º andar 01452-910 São Paulo, SP

Telephone +55 (11) 3799-8100Website www.klalaw.com.brEmail [email protected]

BRAZIL

KLA - KOURY LOPES ADVOGADOSID in TTRecord.com: 5276

KLA - Koury Lopes Advogados

KLA - Koury Lopes Advogados is a young and dynamic full-service law firm, established in 2002. What makes the firm different and places it among the most modern law firms in Brazil is its way of applying legal knowledge to the business of its clients. The firm works not only with transactional and complex operations, but also dedicates the same effort to daily matters, offering full time support. It aims to understand the business of the clients and respond with the necessary agility, clarity in communications and practicality. The firm tries constantly to anticipate relevant trends and novelties, aggregating value to its legal services. The partners participate or personally manage all steps of the work and do not distance themselves from the client, since long-lasting relationships are part of the firm’s philosophy. The right professionals are allocated for each work, with the purpose of obtaining the maximum efficiency in the formation of the teams dedicated to each client and matter, assuring effectiveness and cost control. A top level team of motivated professionals is located in its São Paulo and Brasília offices, many with academic and professional experience abroad.

Alessandra Höhne Partner [email protected]

Alexandre Pessoa [email protected]

Álvaro Lucasechi [email protected]

Ana Cristina Valentim [email protected]

André Fonseca [email protected]

Eloy Rizzo Partner [email protected]

Fabio Ramos [email protected]

Fernando Koury Lopes Partner [email protected]

Gianni Nunes [email protected]

Guilherme Ieno Partner [email protected]

Henrique Lopes [email protected]

Isabel Franco [email protected]

Juliana Elorza [email protected]

Karin Alvo [email protected]

Luiz Filipe Aranha [email protected]

Marc Stalder [email protected]

Maria Cristina Junqueira Partner [email protected]

Fernanda Levy [email protected]

Mariana Cortez [email protected]

Melissa Kanô [email protected]

Miriam Machado [email protected]

Paulo Prado [email protected]

Pedro Cortez [email protected]

Ricardo Higashitani [email protected]

Rodrigo Pontes [email protected]

Tania Liberman [email protected]

Tatiana Vikanis [email protected]

Tiago Cortez [email protected]

Vanessa Tafla [email protected]

Victor Polizelli [email protected]

TRANSACTIONS

KLA’s client basis is essentially international (80% of the clients are multinational corporations) and includes food, automotive, pharmaceutical, insurance, consumer products, entertainment, energy and advertising companies. The firm also represents international private equity funds investing in Brazil. KLA currently represents international clients from several different countries.

Practice Areas

Antitrust / Competition; Banking & Finance; Bankruptcy and Recovery; Compliance, Investigation & White Collar; Contracts; Corporate / M&A; Environmental Law; Family Law, Wills and Estates; Healthcare and Life Sciences; Infrastructure, Administrative and Public Law; Insurance & Reinsurance; Intellectual Property; Labor & Employment; Litigation and Dispute Resolution; Media & Entertainment; Real Estate; Tax Law; Telecommunications; Wealth Management.


Chambers Global, Chambers Latin America, Latin Lawyer, Who’s Who Legal, Legal 500, Análise 500, IFRL 1000.

* Includes closed M&A transactions and asset acquisitions from 2014 and 2016.

TARGETPAÍS

(TARGET)SUBSETOR COMPRADOR VENDEDOR

VALOR TOTAL (R$m)

Grupo Máquina BrazilMarketing and Advertising


Cohn & Wolf

Private Shareholders,Maristela Mafei

Participações, E2MPD PR Comunicações

ND

Laticínios Carolina Brazil Food Industry General Mills Private Shareholders ND

Pontomobi Brazil Marketing and AdvertisingDentsu Aegis

Networke.Bricks Digital,

Private ShareholdersND

Navegg BrazilConsultancy, Audit and Engineering

Dentsu Aegis Network

BuscaPé Company,Private Shareholders

ND

Apta Resinas BrazilChemical and

Chemical Materials,Distribution and Retail

Vinmar International Private Shareholders ND

Cargo transporting assets


and LogisticsAliança Transporte

MultimodalReefercon Engenharia

de ContainersND

Target Brasil BrazilChemical and

Chemical MaterialsBrandt do Brasil Private Shareholders ND

Kantar IBOPE Media

BrazilMarketing and Advertising


Kantar Media IBOPE ND

KPL Soluções Brazil Technology Mercado Livre Private Shareholders 50,00


BRAZIL

TEAM

PROFILE

ABOUT US



Lobo & de Rizzo Advogados is a full service law firm frequently engaged in national and international transactions and disputes, representing companies from various business segments, whether they are already operating in Brazil or exploring business and investment opportunities in the country. The firm offers a wide range of legal services in corporate law, M&A, capital markets, project finance, real estate, tax consulting and litigation, civil litigation, regulatory, antitrust, environmental, labour law and intellectual property. Since its foundation in 2007, Lobo &de RIzzo has successfully continued with its strategy of focusing on complex transactions for its premiere clientele.The firm is rooted in a highly trained and specialized team of over 90 lawyers whose main focus is to develop and deliver services from our offices in São Paulo and Rio de Janeiro that actually add value to the business of the clients. The repeated mentions made to Lobo & de Rizzo Advogados in the most renowned legal publications reflect the recognition by the market and clients of the excellence of the firm’s service, the quality of its lawyers and the friendly and business oriented approach that characterizes its practice.

LOBO & DE RIZZO ADVOGADOSID in TTRecord.com: 5372

Address Av. Brigadeiro Faria Lima, 3.900, 12º andar Itaim Bibi - São Paulo, SP Telephone +55 (11) 3702-7000Website www.loboderizzo.com.br

Address Rua Lauro Muller, 116 – 42º andar - Sala 4205 Torre do Rio Sul – Rio de Janeiro, RJ Telephone +55 (21) 3299-7100Email [email protected]

Rodrigo Millar de Castro Guerra Managing [email protected]

Alexandre Siciliano Borges [email protected]

Daniella Tavares [email protected]

Eduardo Martinelli Carvalho [email protected]

Fabrizio de Oliveira Sasdelli [email protected]

Felipe Eluf Creazzo [email protected]

In Hee Cho [email protected]

José Orlando A Arrochela Lobo [email protected]

Luciana Pietro Lorenzo [email protected]

Luciano Porto [email protected]

Luis Fernando Guerrero [email protected]

Marcelo Bez Debatin da Silveira [email protected]

Marco La Rosa de Almeida [email protected]

Mariana Miranda Lima [email protected]

Otávio Lucas Solano Valério [email protected]

Regina Gasulla Bouza [email protected]

Rodrigo Delboni Teixeira [email protected]

Sérgio Varella Bruna [email protected]

Valdo Cestari de Rizzo [email protected]

TRANSACTIONS

* Includes closed M&A transactions and assets acquisitions in 2015 and 2016.



(R$m)Fac Educacional, Fair Educacional, Famesul, Sociedade Lageana Educacional, Sevita, Assevim, Sociedade





NovaAgri BrazilTransport, Aviation

and LogisticsToyota Tsusho Corporation

Private Shareholders, P2Brasil

704,91

Arjo Wiggins BrazilGlass, Ceramic, Paper,

Plastics, Wood and TimberArconvert Brasil Sequana Group 286,05

Santa Clara Publicidade

Brazil Marketing and Advertising M&C Saatchi Private Shareholders 44,19

Good Food RS BrazilTourism, Hotels and Restaurants

BK Brasil Private Shareholders 42,00

Bgmaxx BA, Bgmaxx AL

BrazilTourism, Hotels and Restaurants


Realty Consulting Planejamento

BrazilTourism, Hotels and Restaurants


Nexoleum BrazilChemical and

Chemical MaterialsElekeiroz Private Shareholders 14,00

Studiare BrazilConsultancy, Audit and

Engineering Internet

Kroton Educacional Private Shareholders 4,10

Bgmaxx ES BrazilTourism, Hotels and Restaurants


Practice Areas

• Antitrust and Regulatory • Compliance • Corporate, Mergers and Acquisitions • Energy, Oil and Gas • Environmental • Finance and Capital Markets • Infrastructure and Projects • Intellectual Property and Digital Law • Judicial Litigation, Arbitration and Dispute Resolution • Labor• Real Estate • Tax


EXECUTIVE BOARD

PROFILE

ABOUT US


Address Av. Brigadeiro Faria Lima, 3144 - 11º andar 01451-000 São Paulo, SP

Telephone +55 (11) 3150-7000Website www.machadomeyer.comEmail [email protected]

BRAZIL

MACHADO, MEYER, SENDACZ E OPICE ADVOGADOSID in TTRecord.com: 2780

Celso Costa Managing Partner

Adriana Pallis

Eduardo Avila de Castro

Ivandro Maciel Sanchez Junior

José Virgílio Lopes Enei

Marco Behrndt

Roberta Danelon Leonhardt


Founded in 1972, Machado, Meyer, Sendacz e Opice Advogados is one of Brazil´s most renowned and respected legal firms. Operating harmoniously in all areas of the law, the firm offers legal assistance to both Brazilian and international clients, including large corporations in the most varied sectors of activities, financial institutions and government bodies.

With offices in São Paulo, Rio de Janeiro, Brasília, Belo Horizonte, Porto Alegre and New York, Machado Meyer has around 350 lawyers. It is an office with global reach and has close ties with major law firms in the United States, Europe, Latin America and Asia.


Escritório em Nova Iorque110 East 55th Street - 10th Floor CEP 10022 - New York, NY, USA


• In the 2016 edition of IFLR Americas Awards, we have been recognized for our participation in the deal awarded on the “Equity Deal of the Year” category. In the deal, Machado Meyer assisted Telefônica Brasil in a public offering of its shares worth R$16 billion, to finance the acquisition of GVT.• In the 2015 edition of Latin Lawyer´s Deal of the Year awards, we were recognized for our participation in transactions awarded in the following categories:Disputes: we represented Mitsubishi Corporation and Metal One, shareholders of Usiminas, in a lawsuit discussing

Practice Areas

• Corporate, M&A and Capital Markets• Banks, Insurance Companies and Financial Market• Infrastructure and Project Finance• Tax• Intellectual Property, Franchise and Technology Rights• Real Estate• Restructuring and Insolvency• Consumer Rights

Practice Areas

• Environmental• Dispute Resolution Preventive, Consulative, Litigation and Arbitration• Labor and Social Security• Economic and Antitrust Law• Sports and Entertainment• International Trade• Compliance and Corporate Integrity

TRANSACTIONS

*Includes closed M&A transactions in 2015.

the terms of the company´s shareholders´ agreement between Nippon Group and Ternium Group. Restructuring: we assisted OAS creditors in the company´s court reorganization proceedings;• In addition to being ranked Brazilian Law Firm of the Year in 2015, we have been recognized by LatinFinance for our participation in three winning transactions in the following categories:- Corporate Liability Management of the Year: for the legal advice provided to BRF S.A. in the issuance of green bonds, worth 500 million euros, and the repurchase offer of bonds issued by BRF and its subsidiaries;- Cross-Border M&A of the Year: for the legal assistance provided to Telefonica Brasil S.A. in the acquisition of GVT, worth 7.45 billion euros.- Equity Follow-on of the Year: for the legal assistance provided to Telefônica Brasil in a public offering of shares, worth R$16 billion, in view of the acquisition of GVT;• Machado Meyer was elected “Best Infrastructure Law Firm: Brazil”, by LatinFinance in 2015.• In the 2015 edition of the Global Legal Awards, The American Lawyer awarded Machado Meyer for the acquisition of GVT by Telefonica, in the “Global M&A Deal of the Year: Latin America” category .• In the 2015 edition of “Americas Women in Business Law Awards”, Euromoney elected Machado Meyer “Best firm in Brazil”, “Best gender diversity initiative by national firm”, “Best national firm for talent management”, “Best national firm for women in business law”.• Elected in 2015, by the British publication International Financial Law Review, the “National Law Firm of the Year for Brazil”.



(R$m)

GVT Brazil Telecoms Telefônica Brasil Vivendi 26.188,79


JFE Steel Corporation, China Steel

Corporation, Kobe Steel, Posco Group - Pohang Iron and Steel Company,

Nisshin Steel, Itochu

2.620,02

Elebat Alimentos Brazil Food Industry Lactalis do Brasil BRF 2.100,00

Rio Verde Energia - Recife, TNE - Triunfo Negócios de Energia, Rio Canoas Energia


Gorges BrasilTriunfo Participações 970,00

Inpa Embalagens BrazilGlass, Ceramic, Paper,

Plastics, Wood and TimberSmurfit Kappa Private Shareholders 805,00

COELBA - Companhia de Eletricidade do Estado da Bahia

Brazil Electric Energy Neoenergia Iberdrola 521,26

Complexos Eólicos Brazil Wind EnergyChina Three

Gorges BrasilEDP Renováveis Brasil 364,80

Companhia Providência Brazil Fashion and Textil PGI Polímeros do Brasil

Private Shareholders, Sul América

Investimentos, VBI Investimentos

241,16

Affero Lab Brazil EducationErste BBI Participações, International Finance

Corporation (IFC)

BR Educacional FIP, Private Shareholders

165,00

Shopping Paralela Brazil Distribution and Retail Vinci FII, BRL II BR Malls 156,60


TEAM

PROFILE

ABOUT US


Address Al. Joaquim Eugênio de Lima, 447 01403-001 São Paulo, SP

Telephone +55 (11) 3147-7600Website www.mattosfilho.com.br Email [email protected]

BRAZIL

MATTOS FILHO, VEIGA FILHO, MARREY JR. E QUIROGA ADVOGADOS ID in TTRecord.com: 2782

José Eduardo Carneiro QueirozManaging [email protected]


Mattos Filho is structured to provide services to clients in different legal areas in a coordinated and integrated manner, working in multidisciplinary teams whenever necessary. This work dynamic allows the firm to deliver tailor-made solutions to their clients, thereby enhancing the understanding of their business and making them a valuable partner. Mattos Filho is a leader in more than 30 different practice areas and work continuously to ensure that all these practices are benchmarks for the market. Creation of industry groups and market niches, combined with their comprehensive knowledge of the market and their clients’ business needs, are examples of their efforts to keep them at the forefront in providing legal services. They represent domestic and foreign companies, financial institutions, investors, multilateral agencies, investment funds, pension funds, insurers and reinsurers and non-profit organizations.

Practice Areas

• Antitrust• Capital Markets• Compliance and Corporate Ethics• Corporate – Mergers and Acquisitons• Environmental• Forestry Investments• Government Advocacy and Public Policy• Infrastructure• Insurance, Reinsurance and Pensions• Intellectual Property, Telecommunications and Information Technology

• Labor and Employment – Executive Compensation• Life Sciences and Healthcare• Litigation and Arbitration• Third Sector, Culture and Corporate Social Responsibility• Oil and Gas• Payment Methods• Private Client• Real Estate• Tax


Latin Lawyer Elite, 2015Recognized as “Elite” Law Firm In Brazil

Chambers & Partners Awards, 2015Latin America Law Firm of the Year

Brazilian Law Firm of the Year Latin Finance, 2011,2012,2013,2014

Brazilian Law Firm of the YearInternational Financial Law Review, 2010,2011 and 2014

TRANSACTIONS

* Includes closed M&A transactions and joint venture in 2015.



(R$m)

JV Cielo Banco do Brasil

BrazilFinancial and

InsuranceBB Elo Cartões

Participações, Cielo- 11.599,99








Petrobras 1.900,00

Rede D’Or São Luiz BrazilHealthcare, Hygiene, Medical Aesthetics

and Cosmetics


America Buyout Fund- 1.750,00

Hidrovias do Brasil BrazilTransports, Aviation

and Logistics


Corporation (IFC), BNDESPar, Blackstone,

AIMCo, P2Brasil

- 980,51

Harald Brazil Food Industry Fuji Oil Private Shareholders 845,00

Pague Menos BrazilDistribution and Retail

General Atlantic Private Shareholders 600,11

Carrefour Brasil Brazil Food and Beverage Península II FIP Carrefour 370,00

Submarino Viagens BrazilTourism, Hotels and Restaurants

Internet

CVC Serviços Agência de Viagens, CVC Brasil

B2W Companhia Digital

80,00

Allied BrazilDistribution and RetailTechnology

DSTAR ParticipaçõesPrivate Shareholders, One Equity Partners

ND

Other Offices

BrasíliaSHS Quadra 06 Conjunto A, Bloco C - Sala 190170316-109 Brasília, DF, BrasilTel.: +55 (61) 3218-6000

São Paulo - Faria LimaRua Campo Verde, 61 - 3º andar01456-010 São Paulo, SP, BrasilTel.: +55 (11) 3035-4050

Rio de JaneiroPraia do Flamengo, 200 - 11º andar22210-901 Rio de Janeiro, RJ, BrasilTel.: +55 (21) 3231-8200

New York712 Fifth Avenue, 26th Floor10019 New York NY, U.S.ATel.: (+1) 646 695 1100


BRAZIL

TEAM

PROFILE

ABOUT US


Address Av. Presidente Juscelino Kubitschek, 50, 18º andar 04543-000 São Paulo, SP

Telephone +55 (11) 3040-2900Website www.mundie.com.brEmail [email protected]

Mundie e Advogados

Mundie e Advogados was established with the goal of providing high quality legal services to international and domestic clients. The firm is a full service law firm, with a young and dynamic profile, and it is renowned for its professionalism and its modern and pragmatic approach to the practice of law.

Since its inception, in 1996, the firm has been involved in landmark transactions that helped shape the current Brazilian economic environment and has become a leading provider of legal services in several of its areas of practice, especially in corporate transactions, mergers & acquisitions, finance, tax, litigation, arbitration, governmental contracts and administrative law, regulated markets and antitrust.

Our clients benefit from our knowledge and experience in all areas of corporate life and our commitment to excellence. Our work philosophy, combined with the integration among our, practice groups and lawyers, put us in a privileged position to assist our clients with the highest quality in legal services.


Practice Areas

Our areas of practice are divided in six main groups:Corporate/M&A; Administrative, Regulation and Competition; Energy and Mining; Tax; Litigation; Labor.

MUNDIE E ADVOGADOSID in TTRecord.com: 5433

Kevin Louis Mundie [email protected]

Eduardo Migliora Zobaran [email protected]

Rafael Fabbri D´Avila [email protected]

Patrícia Nakahara [email protected]

Rodolpho de Oliveira Franco Protasio [email protected]

Ana Cristina de Moraes [email protected]

TRANSACTIONS


• Chambers & Partners - Global, 2015

• Chambers & Partners - Latin America, 2015

• Who’s Who Legal - Brazil, 2015

• Best Lawyers, 2015

• Análise Advocacia 500, 2015

* Includes closed M&A transactions, asset acquisitions and joint venture in 2014 and 2015.



(R$m)

STP Serviços e Tecnologia de Pagamentos

Brazil TechnologyDB Trans

(FleetCor Technologies)

CCR, Arteris, Capital Group, GSMP,Raízen

Combustíveis,Private Shareholders

4.086,00

JV Operadoras Telecom

Brazil TechnologyTelefônica Brasil, Claro

Brasil, TIM Celular, Algar Telecom

-3.700,00 (Approx.)

Eliane BrazilConstruction, Materials

and MachineryKinea Investimentos

(Banco Itaú Unibanco)Private Shareholders 150,00

Auto Expresso Tecnologia

BrazilFinancial and Insurance

TechnologyDB Trans

(FleetCor Technologies)Private Shareholders ND

Motechfilm Produtos Plásticos

Brazil Distribution and Retail GFS Participações Private Shareholders ND

Usati Refinadora de Açucar

Brazil Food Industry Refinadora Catarinense GIE Holding ND

Montana Indústria de Máquinas,

Montana Agriculture, Montana Argentina

Brazil, Argentina

Automotive and Recreational VehiclesSteel, Metallurgy and Industrial Production

Kuhn(Bucher Industries)


Ezlike Brazil Internet Gravity4 Private Shareholders ND

Planta termoelétrica São Borja

Brazil Electric Energy Iguaçu EnergiaUte Iguaçu Borja

EnergéticaND

Siderúrgica Ibiraçu BrazilSteel, Metallurgy and Industrial Production

Private Shareholders Private Shareholders ND

Acument Brasil Sistemas de Fixação

BrazilSteel, Metallurgy and Industrial Production

Fontana Finanziaria Private Shareholders ND


PINHEIRO GUIMARÃES ADVOGADOSID in TTRecord.com: 5571

TEAM

ABOUT US

BRAZIL

PINHEIRO GUIMARÃES

Pinheiro Guimarães - Advogados was established in 1922, when Plinio Pinheiro Guimarães joined the law offices of José de Miranda Valverde, already in existence for several decades. With offices in Rio de Janeiro and in São Paulo, it represents a vast array of clients in Brazil and abroad and is assisted by a full staff of legal support personnel fluent in foreign languages.

Pinheiro Guimarães - Advogados has an extensive international experience. It is one of the leading Brazilian firms in handling international debt and equity issuances, syndicated loans, trade finance, mergers and acquisitions, cross border lease transactions, structured finance, project finance, private equity, securitizations of exports and other receivables, investment funds, derivatives debt restructuring, employee benefit programs, litigation, arbitration and tax.

PROFILE


Francisco Pinheiro Guimarães N. Partner [email protected]

William B. Meissner [email protected]

Beatriz Pereira de Souza Fortuna Partner [email protected]

Roberto Thedim Duarte Cancella Partner [email protected]

Plinio Pinheiro Guimarães N. Partner [email protected]

Francisco José Pinheiro Guimarães Partner [email protected]

Paula Pessôa [email protected]

Marcelo Lamy Rego Partner [email protected]

Ivie Moura Alves Partner [email protected]

Fábio Yanitchkis Couto Partner [email protected]

Roberta Giamattey Pimentel Fonseca Partner [email protected]

Pedro Barretto Vasconcellos [email protected]

Bruno Lardosa [email protected]

Sergio Ramos Yoshino [email protected]

Eduardo Augusto Mattar [email protected]

Rodrigo Marcilio Partner [email protected]

Maria Amélia Lisbão Senra Mastrocola Partner [email protected]

Gustavo Mota Guedes Partner [email protected]

Daniela Viana Cordeiro de Melo Fassheber [email protected]

Tamara Rafiq Nahuz [email protected]

Gabriela Ponte Machado [email protected]

André Sigelmann Partner [email protected]

Mauricio Negri Machado Paschoal [email protected]

Heber Gomes do Sacramento [email protected]

Carolina Testoni Alonso Camargo [email protected]

René Mostardeiro Brunet [email protected]

Cristina Tomiyama [email protected]

Gustavo Machado Gonzalez [email protected]

Renata Machado Veloso Partner [email protected]

Address Av.Rio Branco 181, 27º Andar 20040-918, Rio de Janeiro, RJTelephone +55 (21) 4501-5000Website www.pinheiroguimaraes.com.brEmail [email protected]

Address Av. Brigadeiro Faria Lima 3064, 14º Andar 01451-000 São Paulo, SPTelephone +55 (11) 4501-5000

TRANSACTIONS




(R$m)

Eneva Brazil Electric Energy Banco Itaú Unibanco - 282,64

Oncoclínicas do Brasil BrazilHealthcare, Hygiene, Medical Aesthetics

and CosmeticsGoldman Sachs

Victoria Capital Partners Brasil

200,00

Affero Lab Brazil EducationInternational Finance

Corporation (IFC)Private Shareholders

BR Educacional FIP

165,00

Danubio Brazil Food Industry Vigor Alimentos Arla Foods 156,25

HSBC Bank Brasil, HSBC Serviços

BrazilFinancial and

InsuranceBanco Bradesco HSBC 17.581,00


InsuranceBanco BTG Pactual

Assicurazioni Generali

4.954,65

Gerdau America Latina Participações, Gerdau

Cosigua, Gerdau Açominas, Gerdau Aços Especiais

BrazilSteel, Metallurgy


GerdauBanco Itaú Unibanco

1.690,70

Energisa Geração (Vista Alegre II, Santa Cândida II, Rio Grande, Centrais Eólicas RN, SPE Cristina

Energia),Pequena Central Hidrelétrica Zé Tunin,

Energisa Bioeletricidade

Brazil Electric Energy São João EnergéticaRede Energia,

Energisa1.500,00

Hidrovias do Brasil BrazilTransport, Aviation

and Logistics

Temasek Holdings, BTO FIP, International Finance Corporation

(IFC), BNDESPar, Blackstone,

AIMCo, P2Brasil

- 980,51

Bic Banco - Banco Industrial e Comercial

BrazilFinancial and

InsuranceCCB Brazil

Financial HoldingPrivate

Shareholders443,83

Wind complexs Brazil Wind EnergyChina Three

Gorges BrasilEDP Renováveis

Brasil364,80

Practice areas

Corporate and M&ACapital Markets• Investment Funds• Derivatives• Debt & Equity Offers• RegulatoryBanking and Finance• Project Finance• Structured Finance• Trade Finance• Regulatory

Restructuring and InsolvencyLitigation and ArbitrationTaxProjectsExecutive Compensation


TEAM

PROFILE

ABOUT US

Start of Activity 1942

Nº of employees The firm currently has around 430 lawyers, of which 88 are partners.

Address Rua Hungria, 1.100 01455-906 São Paulo, SP

Telephone +55 (11) 3247-8400Website www.pinheironeto.com.brEmail [email protected]

BRAZIL


Pinheiro Neto is a Brazilian full service law firm, founded in 1942. Over more than 70 years, the firm has grown organically, developing a distinctive, tight-knit culture.

Clients: The firm advises and represents both local and international clients in a broad range of sectors, and a significant portion of our clients are headquartered abroad. In 2014, the firm received the Excellence Award in Exports of Legal Services, whereby the Ministry of Foreign Trade, Industry and Development (MDIC) recognizes the largest Brazilian exporters of services in each of several categories.

Training: In order to focus on the most challenging transactions and complex litigation, Pinheiro Neto recruits its lawyers from the best law schools in the country and further develops their abilities by means of a comprehensive in-house Professional Development Program.

A significant proportion of the firm’s lawyers hold graduate degrees from top local and international law schools, and have spent time working in high ranking international law firms.

Social Responsibility: The firm, which is ranked among the country’s largest social investors, offers a pioneering pro bono program and was the first Brazilian law firm to be certified as carbon neutral. Pinheiro Neto was also the first Brazilian firm to receive the Selo Paulista da Diversidade, which is issued by the government of the state of São Paulo in recognition of structured initiatives related to employment diversity.

Practice Areas

Pinheiro Neto is a full service firm, with strong expertise in Corporate/M&A, Banking & Finance, Capital Markets, Corporate Tax, Competition, Litigation and Arbitration, Public Law, Intellectual Property, Labor, among others.


- Firm of the Year in Brazil

IFLR (2016), Who’s Who Legal (2006 - 2016), Chambers (2009, 2011 and 2014)

- Firm of the Year in Latin America

Chambers (2009, 2010 and 2013)

PINHEIRO NETO ADVOGADOSID in TTRecord.com: 2759

Alexandre BertoldiManaging [email protected]

Fernando MeiraHead of Corporate [email protected]

TRANSACTIONS

*Includes closed M&A transactions and asset acquisitions in 2015.

- Deals of the Year related to M&A

• IFLR Equity Deal of the Year - 2016

• Latin Finance Cross-Border M&A - 2015

• The American Lawyer Global M&A Deal Latin America - 2015

• The American Lawyer Global Finance Deal (Acquisition Finance) - 2015

• China Business Law Journal - 2014

TARGET PAÍS (TARGET) SUBSETOR COMPRADOR VENDEDORVALOR

TOTAL (R$m)

GVT Brazil Telecoms Telefônica Brasil Vivendi 26.188,79

Cementassets

France, Germany, Hungary, Romania,

Serbia, Slovakia, United Kingdom, Canada,United

States, Philippines, Brazil

Construction, Materials and

MachineryCRH

HolcimLafarge

24.585,60

BG Group United Kingdom Oil and Gas Shell Takeover bid 217.024,50

Elebat Alimentos Brazil Food Industry Lactalis do Brasil BRF2.100,00 (Approx.)

Real Estateassets

Brazil Real EstateBRE Ponte

ParticipaçõesBR Properties

1.065,00 (Approx.)

Grupo IBMEC Educacional

Brazil EducationDeVry

Educacional do Brasil

Private Shareholders717,00

(Approx.)

SPE Primav Newco BrazilRailroads


SIASASTM

Primav2.200,00(Approx.)

Hortigil Hortifruti Brazil Food IndustryDiba SP

ParticipaçõesBozano InvestimentosPrivate Shareholders

309,57

STP Serviços e Tecnologia de Pagamentos

Brazil Technology DB TRANS CCR 4.086,00

CNP Assurances BrazilFinancial and

InsuranceCNP Assurances Banco BTG Pactual 700,00


BRAZIL

TEAM

PROFILE

ABOUT US


Address Rua Funchal, 418, 11º andar - Edifício Etower 04551-060 São Paulo, SP

Telephone +55 (11) 3089-6500Website www.souzacescon.com.brEmail [email protected]

Souza, Cescon, Barrieu & Flesch Advogados

We are the firm of choice for strategic transactions and disputes.

Souza, Cescon, Barrieu & Flesch Advogados is one of Brazil’s leading law firms. Our lawyers stand-out for their strong commitment to the representation of our clients’ interests and for their work in highly sophisticated, groundbreaking matters. Our goal is to be our clients’ law firm of choice for their most complex legal matters and most strategic transactions and disputes.

Practice Areas

SOUZA, CESCON, BARRIEU & FLESCH ADVOGADOSID in TTRecord.com: 3495

Luis Souza Partner

Maria Cristina CesconPartner

Roberto Barrieu Partner

Marcos FleschPartner

Maurício Santos Partner

Ronald HerscoviciPartner

Joaquim OliveiraPartner

Alexandre BarretoPartner

• Antitrust

• Arbitration and Mediation

• Banking and Finance

• Capital Markets

• Compliance and Anticorruption

• Corporate Governance

• Environmental

• Infrastructure and Government Relations

• Insolvency and Restructuring

• Investment Funds

• Labor

• Litigation

• Mergers & Acquisitions

• Private Equity

• Project Finance

• Real Estate

• Tax

• Technology and Intellectual Property

TRANSACTIONS

*Includes closed M&A transactions between 2014 and 2015.

Other Offices

Praia de Botafogo, 228 Conj. 1501 , Ala A - Edifício Argentina22250-906 Rio de Janeiro, RJ, Brazil

Rua Rio de Janeiro, 2702 - Edifício Empresarial Ruy Soares Rodrigues30160-042 Lourdes - Belo Horizonte, MG, Brazil

Setor Hoteleiro Sul, Quadra 06, Conj. A, Bloco A, Sala 506 - Edifício Brasil 2170316-102 Brasília, DF, Brazil

Avenida Tancredo Neves, 620 Conj. 1522 e 1523 - Edifício Mundo PlazaCaminho das Árvores41820-020 Salvador, BA, Brazil



(R$m)

PT Portugal Portugal Telecoms Altice Oi 20.108,09

Portugal Telecom Portugal Telecoms OiPrivate







Brazil MiningFIP Multisetorial

Plus II

Vale - Companhia Vale

do Rio Doce4.000,00

TNE - Triunfo Negócios de Energia, Rio Verde Energia - Recife, Rio

Canoas Energia


Gorges BrasilTriunfo


Saraiva Educação BrazilMedia, Multimedia

e EditorialEditora Ática Livraria Saraiva 725,00

BPMB Parnaíba BrazilFinancial and Insurance

Oil and GasEneva

Banco BTG Pactual

695,05

Bematech Brazil Technology Makira II - 549,90

COELBA - Companhia de Eletricidade do Estado

da BahiaBrazil Electric Energy Neoenergia Iberdrola 521,26


TEAM

PROFILE

ABOUT US

Start of Activity 1976 Nº of employees 1.100

Address Rua Borges Lagoa, 1328 04038-904 São Paulo, SP

Telephone +55 (11) 5086-5000Website www.tozzinifreire.com.brEmail [email protected]

BRAZIL


TozziniFreire is a premier, full-service law firm providing legal services to domestic and international companies in a wide variety of business sectors.

Practice Areas

Our areas of specialisation include corporate law and foreign investment, mergers and acquisitions, antitrust, litigation, arbitration, mediation, government relations, white-collar crimes, asset planning, compliance & investigation, consumer affairs, corporate social investment, international and local contracts, international trade, investment funds, corporate finance, private equity, project finance, capital markets, banking & finance, restructuring and insolvency, tax, intellectual property, real estate, engineering & construction, environmental law, labour, immigration, and public government, contracts and projects - administrative law.

Our industry-focused groups include: agribusiness, automotive, energy, bioenergy/ethanol, climate change and carbon market, engineering & construction, energy, fashion law, cybersecurity & data privacy, defense and aerospace, infrastructure, shipping & logistics, hotels & resorts, financial services, insurance, life sciences & healthcare, media & entertainment, mining, oil & gas, telecommunications/information technology, timberland investment, and water and sewage.


TozziniFreire has close relationship with the best law firms worldwide. The firm is also a member of two international networks: World Law Group and Pacific Rim Advisory Council.


• Recipient of several Deal of the Year awards by Latin Lawyer in 2007, 2010, 2011, 2012, 2013, 2014 and 2015.

• Winner of the Global M&A Network’s “South American Law Firm of the Year” and “Brazil Deal of the Year” for assisting IBM in the acquisition of Scopus Tecnologia.

• Recognized by Chambers and Partner Latin America and Chambers and Partners Global 2016.

• Recognized by Latin Lawyer 250 2016.

• Nominated by Latin Lawyer Magazine in its Masters of M&A list.

TOZZINIFREIRE ADVOGADOSID in TTRecord.com: 5308

Darcy Teixeira Junior [email protected]

Fernando Eduardo Serec [email protected]

Maria Elisa Gualandi Verri [email protected]

Marta Viegas Rocha [email protected]

Martin Miralles Pose [email protected]

Shin Jae Kim [email protected]

TRANSACTIONS

* Includes announced and closed M&A transactions and asset acquisitions between 2014 and 2015.

Recommendations

Latin Lawyer 250: “The firm’s goal is to be the client’s partner not only in large transactions but also in day-to-day business – and the clear investments the firm makes in its breadth of practice areas and indeed locations are strong evidence of that. The full-service approach is complemented by a multidisciplinary structure – as clients demand an ever-more personalised service based on real industry knowledge, the firm has organised itself into a number of sector and country-based teams. As comfortably the largest top-end firm in Brazil, TozziniFreire can indulge in specialisation in a way many rivals can’t.

Chambers & Partners Global: “Since 1976, TozziniFreire has distinguished itself as a premier, full-service law firm by consistently providing legal services to domestic and international companies in a wide variety of business sectors. Along these years, the firm has played a major role in many of the most significant transactions in the Brazilian market, contributing to the growth of the local economy and becoming one of the largest and most prestigious firms in Latin America.”


SUBSECTOR BUYER SELLER AMOUNT (R$m)

Cementassets

SwitzerlandConstruction, Materials and

MachineryCRH

HolcimLafarge

24.585,60

Azul Linhas Aéreas Brasileiras


and LogisticsHNA Group - 1.700,00

Decolar Com BrazilTourism, Hotels and Restaurants

ExpediaPrivate

Shareholders847,11

Renova Energia Brazil Electric Energy SunEdison Light Energia 756,70

Hidrovias do Brasil BrazilTransports, Aviation

and Logistics

Alberta Investment Management Corporation

- 682,02

Feira Hospitalar (São Paulo Feiras

Comerciais)Brazil



and Cosmetics

UBMPrivate

Shareholders150,00

Atlas Transportes e Logística


and LogisticsFemsa Logística

BrasilPrivate

ShareholdersND

Fábrica de medicamentos da

Novartis BiociênciasSwitzerland

Pharmaceutical, Parapharmaceutical

and Cosmetics

União Química Farmacêutica

Nacional- ND

Grupo Sinagro BrazilAgriculture,

Agribusiness, Farming and Fishing

UPL - United Phosphorus

Limited


ND

Seven Boys Brazil Food IndustryWickbold & Nosso

Pão - Indústria Alimentícias


ND


ULHÔA CANTO, REZENDE E GUERRA - ADVOGADOSID in TTRecord.com: 5402

TEAM

PROFILE

ABOUT US


Address Av. Pres. Antônio Carlos, 51, 12 andar 20020 010 Rio de Janeiro Telephone +55 (21) 3824-3265Email [email protected]

Website www.ulhoacanto.com.br

Address Av. Brigadeiro Faria Lima, 1847 Jardim Paulistano, São Paulo Telephone +55 (11) 3066-3066Email [email protected]

BRAZIL


Ulhôa Canto, Rezende e Guerra Advogados is a benchmark firm in terms of business law, and stands out by its participation and legal assistance in many of the most significant transactions undertaken in the domestic and international corporate scenario. Founded in 1959, the firm combines tradition with dynamism, bringing, together with each new generation, talents that are fully committed to maintaining excellence and high professional standards, and overcoming challenges. As a consequence, our firm holds a unique and leading position in the legal world.

Recognized for the development of pioneer and innovative solutions for its clients, which frequently become precedents in the corporate, judicial and administrative levels, our firm exercises a customized legal practice, combining knowledge, experience and creativity.

Partners:

Aloysio Meirelles de Miranda Filho Partner [email protected]

Guilherme Rocha Murgel de Rezende Partner [email protected]

Humberto Sanches Partner [email protected]

Marcelo Maria Santos Partner [email protected]

Luciana Pereira Costa [email protected]

Vivian Santos [email protected]

Fernanda Freitas [email protected]

Associates:

Pedro Chueiri Associate [email protected]

Mariana Louzada Associate [email protected]

Mariana Heck Associate [email protected]

Gabriel Pinto Associate [email protected]

Vanessa Muglia [email protected]

Maria Junqueira Associate [email protected]

Fernanda Oliveira Associate [email protected]

Eduarda Tavares [email protected]

Cecília Garrett [email protected]

Ana Clara Gonçales [email protected]

Luis Tuon [email protected]

Áreas de Prática

Tax, Corporate Law and Capital Markets, Financial Market, Project finance, Administrative Law, Antitrust and Consumer Protection, Compliance, Arbitration, Electric Energy, Telecommunications, Oil & Gas, Mining, Sanitation, Environmental Law, Entertainment and Sports, Real Estate, Wealth & Estate Planning and Aviation.


Chambers & Partners – Chambers Global:

(i) Tax – top pf the ranking in this category since the guide’s first edition in 2006; and (ii) Among the best Brazilian law firms assessed in the Corporate/Mergers and Acquisitions, Energy, Banking and Finance, and Dispute Resolution Arbitration classes.Chambers & Partners – Chambers Latin America:

(i) Tax – top pf the ranking in this category since the guide’s first edition in 2009; (ii) Energy – top pf the ranking in this category since the guide’s first edition in 2009; (iii) Among the best Brazilian law firms assessed in the Projects/Infrastructure, and Corporate/Mergers and Acquisitions classes.

Ulhôa Canto was designated in 2010 for the Chambers Latin America Award for Excellence.

11th Annual IFLR Americas Awards:

Ulhôa Canto won the award in 2015 in the category “M&A deal of the year” due to Dow Chemical Company’s Reverse Morris Trust with Olin.

TRANSACTIONS

* Includes announced closed M&A transactions and asset acquisitions in 2015.



(R$m)

Dow chlor-alkali Business

United States

Chemicla and Chemical Materials

Olin Corporation Dow Chemical17.400,00(Approx.)

Souza Cruz Brazil TobaccoBritish American Tobacco

Americas (British American Tobacco International)

Private Shareholders,Aberdeen Asset

Managers

10.100,00(Approx.)

BRPR 47 Empreendimentos

Imobiliários e Participações

Brazil Real Estate Brookfield Brasil BR Properties 2.200,00

Ativos imobiliários Brazil Real EstateBRE Ponte Participações

(Blackstone Group)BR Properties 1.065,00

Grupo ABC BrazilMarketing and

Advertising


(Omnicom Group)

Private Shareholders, Kinea Investimentos

1.000,00(Approx.)

Videomar Rede Nordeste

Brazil TelecomsACON Latin America

Opportunities Fund (ALAOF)(Acon Investments)


Crystal Aguas do Nordeste

Brazil Food and Beverage Coca-Cola IndústriasCompanhia

Maranhense de Refrigerantes

25,00

Cervejaria Colorado Brazil Food and Beverage AmbevMarcelo Carneiro

da CostaND


VEIRANO ADVOGADOSID in TTRecord.com: 5406

PROFILE

ABOUT US


Address Av. Presidente Wilson, 231 - 23º andar 20030-021 Rio de Janeiro, RJ

Telephone +55 (21) 3824 4747Website www.veirano.com.brEmail [email protected]

BRAZIL

Veirano Advogados

Founded in 1972, Veirano Advogados is a full-service law firm providing a complete spectrum of legal services to support business activities in both regulated and unregulated sectors. With over 240 professionals working in an integrated fashion, we handle both routine and complex multidisciplinary cases that require the coordinated talents of professionals with diverse areas of expertise.

Our services range from providing assistance in M&A transactions, privatizations and company formation to representing clients in disputes, from offering advice on tax issues and infrastructure projects to guiding oil and gas companies through the challenges inherent in a highly regulated industry, to name a few examples of our broad range of work. Our main goal is to identify needs and develop tailored solutions, enabling safe and informed decision making – one client at a time.

At Veirano, we understand that our professionals are our equity in a globalized market. In order to build strong client-service teams of specialists, we recruit Brazilian attorneys with multicultural backgrounds who have received additional education and training in first-tier law schools and law firms abroad.

For over 40 years we have built strong relationships with leading companies in various industry sectors, simplifying international relations and opening pathways for business in Brazil, from Brazil to the world and from the world to Brazil. This is how we contribute to the success of our clients and collaborate for a strong economy.

Practice Areas

The firm’s expertise covers a broad range of legal services, with emphasis on the following practices and industries: Anticorruption, Corporate Integrity & Compliance; Antitrust & Competition; Banking & Finance; Commercial Contracts; Corporate & Mergers and Acquisitions; Corporate Immigration; Dispute Resolution; Electric Energy; Insolvency & Restructuring; Government & Regulatory; Information Technology & Communications; Infrastructure & Projects; Insolvency, Restructuring; Distressed Investing; Insurance, Reinsurance & Pension Funds; Intellectual Property; International Trade / WTO; Labor & Employment; Media & Entertainment; Mining; Oil, Gas & Biofuels; Private Equity & Capital Markets; Real Estate; Shipping; Tax & Customs; White-Collar Crimes.


Besides firm and individual recognitions by leading industry publications, such as Chambers and Partners, Legal 500, Latin Lawyer and IFLR, we highlight some recent awards:

• Global Trade Review - GTR Best Deals – Project Finance 2015• Global M&A Network - South America Corporate Deal of the Year 2015

TRANSACTIONS



(R$m)

JV Novartis GSKUnited

Kingdom


and Cosmetics

GlaxoSmithKline (GSK), Novartis

- 45.793,89

Vaccine business SwitzerlandPharmaceutical,


GlaxoSmithKline (GSK)

Novartis 15.026,12

Latin America Power Chile Electric Energy SunEdisonP2Brasil, Banco BTG

Pactual, GMR Energía2.218,65

Nova Renova Energia, Salvador Holding

Brazil Wind Energy TerraForm Global Renova Energia 1.477,00

Harald Brazil Food Industry Fuji Oil Private Shareholders 845,00

Inpa Embalagens BrazilGlass, Ceramic, Paper, Plastics,

Wood and TimberSmurfit Kappa Private Shareholders 805,00

Açu Petróleo Brazil Oil and Gas Oiltanking Prumo Logística 742,65

Capgemini Brasil Brazil

Technology Distribution and

Retail Consultancy, Audit and Engineering

CapGemini France

Private Shareholders, SerPartners, Braxis

Tecnologia da Informação, União Participações, Cristal

Delaware, Nextgenb, Bds Technology, JLR, Infors Investimentos,

Cpm Holdings

476,83

Pacific Hydro Energia do Brasil

Brazil Wind EnergyState Power Investment

IFM Investors 393,69

Joanes Industrial Brasil Food IndustryOutspan Brasil Importação e Exportação

Archer Daniels Midland ADM

385,49

* Includes closed M&A transactions, asset acquisitions and joint venture in 2015.

• Global M&A Network - Brazil Corporate Deal of the Year 2015 • Global Competition Review - Matter of the Year 2015• The American Lawyer - Global Finance Deal of the Year – Restructuring South America 2015• Latin Lawyer – Restructuring Deal of the Year 2014

Index

Symbols2bCapital 82, 85, 102, 121, 143

8M Participações 79, 90, 107

99Taxis 45, 98

500Startups 71, 74, 76, 82, 84

AAAM Comércio e Participações 98

AAM do Brasil 98

Aberdeen Asset Managers 19, 88, 89, 108

ABL Shopping 108

Abrilpar Participações 77, 106

Accel Partners 45, 76, 84, 85

Accion’s Frontier Investments 72, 84

Acesso Soluções 43, 96, 98

Açu Petróleo 53, 96

Advent International 35, 69, 76, 91

Aecon 20

Affero Lab 89

Affinia Automotiva 64, 90

Affinia Group 64, 90

AFLG Investments 61

Agência Salve 101

Ajinomoto 59, 105

Akin Gump Strauss Hauer & Feld 52, 54

aLavadeira 43

Alba Concessions 20

Allabor Laboratórios 88

Allende & Brea Abogados 74

Alothon Group 69

Alpargatas 18, 88, 103

Amadeus Capital 76, 84

Amaral Gurgel Advogados 79

Ambev 28

America Net 85, 109

Aminoagro 95

Andrade Gutiérrez Participações 29

Anima Educação 100, 109

Apriori TI 102

Aqua Capital 61, 67, 71, 95

Arap, Nishi & Uyeda - Advogados 92, 93

ArcelorMittal Netherlands 60, 66

Arconvert Brazil 62, 90, 101

Arjo Wiggins 62, 90, 101

Arraial do Cabo Empreendimentos Imobiliários 56, 57

Ártica Investimentos 88

Arval Brazil 90

Arvato Participações 109

ASBZ Advogados 92, 93, 112

Assa Abloy Brazil 102

Assevim 18, 33, 76, 91, 101

ASTA Energy 100

Astella Investimentos 74, 82, 84, 98

Astellas Pharma 84, 98

Atlântico - Concessionária de Transmissão de Energia do Brasil 106Autopartners Participações 64, 90

Axial Participações 67, 78

Axxon Group 85, 109

Azevedo Sette Advogados 92, 93

Azul Holding Brazil 19, 75, 105, 107

Azul Linhas Aéreas 19, 75, 93, 105, 107

BB2W Companhia Digital 91, 94

Bain Capital 69, 73

Baker & McKenzie US 74, 83

Bambuza Capital 82

Banco Barclays Brazil 69

Banco Bradesco 18, 20, 33, 35, 59, 60, 64, 66, 69, 70, 72, 76, 81, 88

Banco Bradesco BBI 18, 20, 33, 35, 59, 60, 64, 66, 69, 70, 72, 76, 81, 88, 89, 90, 91

Banco BTG Pactual 18, 19, 20, 33, 35, 52, 54, 56, 69, 72, 73, 76, 81, 88, 94, 97, 109, 117, 122, 123, 131, 139, 157, 159, 161, 167, 72

Banco Credit Suisse Brazil 70, 72

Banco Itaú BBA 18, 19, 20, 33, 35, 53, 56, 57, 61, 62, 66, 70, 73, 74, 76, 77, 78, 81, 88, 89

Banco Itaú BMG Consignado 108

Banco Itaú Unibanco 18, 60, 66, 69, 72, 104, 109

Bank of America Merrill Lynch 19, 20, 35, 52, 54, 59, 67, 73, 88, 89

Baptista Luz Advogados 92, 94, 114

INDEX OF ENTITIES

169

Barbosa, Müssnich & Aragão Advogados 18, 19, 33, 35, 64, 66, 69, 73, 76, 77, 81, 92, 94, 116

Barclays Natural Resource Investments (BNRI) 52

Bds Technology 70, 72, 81

Belezanaweb 45

Bematech 81, 106

Benício Advogados 63, 92, 94

Berrini Ventures 69, 73, 74, 82, 84

Bienville Capital Management 56

BK Brazil 28

Black Coral Capital 20

Black River Asset 59, 67, 89, 98

Blackstone 35, 69, 75, 85, 90, 101, 104, 107

Blanco & Etcheverry Abogados 74

Blue Interactive Group 94

BMG Participações 108

BNDES 28

BNDESPar 35, 75, 90, 101, 104, 106, 107

BNP Paribas Portugal 57

Bozano Investimentos 76, 84

BPMB Parnaíba 18

Bradesco BBI 118, 120, 121

Bradesco Private Equity 120

Bradseg Participações 35, 69

Brasbunker 95, 96

Brasil Aceleradora de Startups FIP 82

Brasil Capital 69, 91

Brasil Telecomunicações 94

Braxis Tecnologia da Informação 70, 72, 81

BR Educacional FIP 89

BRF 20, 28, 59, 67, 89

BRF Austria 20, 59, 67, 89

British American Tobacco Américas 19, 88, 89

BRL II, Vinci FII 33, 91

BR Malls 33, 91

Brookfield Brazil 18, 56, 108

BR Partners 19, 33, 64, 88, 90

BRPR 47 Empreendimentos Imobiliários e Participações 18, 56, 108

BR Properties 18, 56, 108

Bruchou, Fernández Madero & Lombardi 70, 72

BRZ Investimentos 33, 59

BTG Pactual Brazil Investment Fund I 73, 88, 94

BTG Pactual Brazil Investment Fund I 89, 97

BTG Pactual Infraestrutura II FIP 93

BTG Pactual Participations 18, 29, 73, 88, 94, 97

BTO FIP 35, 75, 90, 101, 104, 107

Buildit 63

Bunzl 97

Burnside Strategies 76, 100

CCafé Três Corações 78, 103

Camargo Corrêa 18, 29, 88, 103

Campos Ferreira, Sá Carneiro & Associados 79

Campos, Fialho, Canabrava, Borja, Andrade, Salles Advogados 45

Candido, Martins & Galizzi Advogados 92, 95, 124, 126, 128

Capgemini Brazil 70, 72, 81

CapGemini France 70, 72, 81

Capital de Crescimento I FIP 102

Carey 54, 70, 72

Carlyle 18, 19, 33, 35, 69, 73, 76, 89, 91, 97, 101

Carrefour Brazil 78

Casa do Epi 97

Cascione, Pulino, Boulos & Santos Advogados 79, 95

Castro, Barros, Sobral, Gomes Advogados 79, 92, 95

CCA-Ontier 79

CCR España 20

Centro Paraibano de Oncologia 88

Chaves, Gelman, Machado, Gilberto e Barboza Advogados 92

Chediak Advogados 53, 92, 96

ChefsClub 43

China Steel Corporation 66, 89, 94, 102

China Three Gorges Brazil 52, 102

Chiomenti Studio Legale 62

Citigroup Global Markets 74

Claro Brazil (América Móvil) 94

Claro y Cía. Abogados 74

Companhia Brasileira de Esterilização 97

Compass Minerals 61

Confrapar 43, 84

Congonhas Minérios 66, 89, 94, 102

Congresos e

Empreendimentos 74

Consórcio - Bacia Sedimentar do Solimões 53

Consórcio Inframérica 93, 104

Contrail 93

Copacabana House Ventures 76, 84

Corameq 74

Core Participações 35, 69

Corpesca do Brasil 67

Corpflex Informática 102

Corporación América 93, 104

Cortex Intelligence 96

Coty 19, 89, 90, 106

Couto Silva Advogados 43, 92, 96, 126

Cpm Holdings 70, 72, 81

Cravath, Swaine & Moore 74

Credit Suisse Brazil 19, 33, 52, 54, 70, 76, 77

Credit Suisse Group 54

Criatec 43, 45, 103

Cristal Delaware 70, 72, 81

Cromossomo Participações 101, 104

CRP Empreendedor 43

CRP Investimentos 64

CSHG Brasil Shopping FII 56

CSN 28, 66, 89, 94, 102

Cuatrecasas, Gonçalves Pereira Brazil 79

Cuatrecasas, Gonçalves Pereira Portugal 79

Cventures Primus 43, 69, 72, 82, 84

Cyrela Commercial Properties 56, 57

DDASA 101, 104

Das Brasil Serviços de Marketing 18, 33, 74, 106, 108

Davis & Gilbert 18, 33, 74

Davis Polk US 79, 83

Decolar.com 79, 83, 107

Degraus 97

Deloitte Brazil 74, 128

Demarest Advogados 18, 19, 35, 61, 73, 74, 92, 97, 130

Dentons Cárdenas 70, 72

Dentsu Aegis Network 93, 100

Derraik & Menezes Advogados 43, 45, 92, 98, 132

Desenvix Energias Renováveis 105

Deutsche Bank Brazil 19

DeVry 76, 100

DGF FIPAC 2 45, 98, 103

DGF Inova 98

DGF investimentos 45, 71, 74, 82, 84, 98

Dias Carneiro, Arystóbulo, Flores, Sanches, Turkienicz, Amendola, Waisberg e Thomaz Bastos 45, 134

Digital News Venture 74

Digital News Ventures 77

Dimicron 95

DLA Piper Russia 53

DLM Private Equity 82

DMGSA - Domingues Sociedade de Advogados 57

DN Agrícola 67

Dragoneer Investment Group 45, 75, 84, 100

Dress & Go 94

DSB Serviços de óleo e gás 95, 96

Duarte Garcia, Caselli Guimarães e Terra Advogados 18, 56

Ducha Corona 105

Ducoco 33

Duxx Investimentos 43, 71, 82, 96, 98

EEBBA - Empresa Brasileira de Bebidas e Alimentos 101

e.Bricks Digital 71, 74, 76, 77, 82, 84, 93, 100

Eclipse Holding 20

EcoRodovias Infraestrutura e Logistica 33

Editora Ática 18, 77, 89, 106

Editora HR 99

EDLP Estação da Luz Participações 93

Eliane 33, 57, 104

Elismol 99

Elog 33

Empresa de Energía de Bogotá (EEB) 105

Empresas Relsa 90

Energisa 96

Eneva 18

Equity International 75

Erste BBI Participações 89

Esho 96

Eskenazi Pernidji Advogados 92, 99

e-Smart 94

ESS - Engenharia de Sistemas e Soluções 105

Estarte.me 82, 84

Estudio Echecopar 70, 72

Eurogate 93

e.ventures 45, 69,72, 74 76, 82, 84, 98

Everett Group 76, 100

Évora FIP 69, 91

Excelia Gestão e Negócios 136

Expedia 79, 83, 107

Ezlike 104

FF2 investimentos 71, 84

Fac Educacional 18, 33, 76, 91, 101

Fair Educacional 18, 33, 76, 91, 101

Famesul 18, 33, 76, 91, 101

Fandango 79, 90

Fasa 67

FBA Fundicao Brasileira de Alumínio 64

FBIE FIP II 19, 35, 73, 89

Felicis Ventures 76, 84

Felsberg Advogados 138, 139

Ferrere 52, 54, 74

Fertilizantes Heringer 61

FG Agro 78

Fialho SAlles Advogados 92

FIP Criatec II (Triaxis Capital) 43

FIP da Serra 96

FIP Multisetorial Plus II 18, 66, 88, 103, 106

FIP RPEV1BRAZIL 43, 45, 96

Franco da Rocha Investimentos Imobiliários 56, 57

Fuji Oil 108

Fundamentur 81

Fundamenture 20

Fundepar 69, 74, 82, 84, 93

Fundo Innova Capital 78

Fundo Inovação Paulista 43, 73, 82

Fundotec II 99

Furnas 54

Furukawa Industrial Produtos Elétricos 105

GG5 Evercore 35, 62, 75, 78, 79, 88, 90

Galicia Abogados 74

Garda Empreendimentos e Participações 108

Garrigues Mexico 74

Gaspetro 18, 53, 61, 103, 105

GDSI 60, 64

Gebbras Participações 28

Geekie 105

General Atlantic 35, 70, 71

Geneseas 95

Genesys Brazil 93

Genix 63, 94

Genotyping 43

Geofusion 45, 103

Geradora Eólica Itaguaçu da Bahia 54

Geradora Eólica Ventos de Santa Luiza 54

Geradora Eólica Ventos de Santa Madalena 54

Geradora Eólica Ventos de Santa Marcella 54

Geradora Eólica Ventos de Santa Vera 54

Geradora Eólica Ventos de Santo Antonio 54

Geradora Eólica Ventos de São Bento 54

Geradora Eólica Ventos de São Cirilo 54

Geradora Eólica Ventos de São João 54

Geradora Eólica Ventos de São Rafael 54

Gerdau 28, 29, 60, 66, 104

Gespatrimónio Rendimento 79, 95

GetNinjas 45

GFS 20, 59, 67, 89, 104

Gipar 96

Glass Sentinal 102

Global Founders Capital 84

Globalpack 95

GOA Investments 84

Goiás Transmissão 105

Goldman Sachs 18, 52, 53, 77, 99

Goldman Sachs Brazil 18, 52, 53, 77

Gómez-Pinzón Zuleta Abogados 70, 72

Government of Singapore Investment Corporation (GIC) 19, 35, 73, 88, 94, 97

GP Investments 33, 71

Gravity4 104

Groupe CGR 99

Grow Ventures 84

Grupo ABC 18, 33, 74, 95, 101, 106, 108

Grupo Ação 70, 72

Grupo Comolatti 90

Grupo Editorial Record 99

Grupo Estapar 97, 109

Grupo Fernandes Vieira 96

Grupo Ruette 89, 98

Grupo Sinagro 78

Grupo Xangô 45, 76, 82, 84

GTCR 59, 63, 97

GT Lawyers 92, 99, 140

Guapo Capital Group 62

Guyer & Regules 70, 72

HHalembeck Barros e Sicherle Advogados 76, 92, 100, 142

Harald 108

Healthways Brasil Serviços de Consultoria 96

Healthways International 96

Heliocolor 100

Herbert Smith Freehills Australia 54

Hidrovias do Brasil 35, 75, 90, 101, 104, 107

HIG Capital 71, 74, 84

HiPartners Capital & Work 94

Hive Digital Marketing 43

HNA Group 19, 75, 105, 107

Hortifruti 90, 98, 99

Hospitalar Feiras 74, 107

Hospital Santa Cruz 98

Hospital Santa Joana Recife 96

Hotéis Tivoli 79, 95

Hotel Urbano 83, 107

HRT O&G 53

HSI - Hemisferio Sul Investimentos 33

Hypermarcas 19, 29, 89, 90, 106

IIbmec 76, 100

IFM Investors 54

IGC Partners Assessoria Empresarial 64, 85, 88, 90

IG Transmissão e Distribuição 105

IMCD Brasil Comécio de Produtos Químicos 103

IMCD Holding Brazil 103

Infors Investimentos 70, 72, 81

Infravix Participações 93, 104

Ingecon 62

Ingram Micro Brazil 70

Ingresso.com 79, 90

Initial Capital 74, 84

Inpa Embalagens 62, 102, 108

Insight Venture Partners 79, 84

Integritas Participações 35Intel Capital 45, 74, 82, 103

International Finance Corporation (IFC) 35, 75, 83, 89, 90, 101, 104, 107

Interplayers Soluções Integradas 103

Interprint 99

Intervalor 109

Intralinks 52, 54, 62, 83

Invest Tech 82, 84, 85, 109

Itamaraty 78, 103

Itaucard 108

Itaú Soluções Previdenciárias 108

Itochu 66, 89, 94, 102

JJanus Brasil Participações 67

JBS 20, 28, 59, 88

JFE Steel Corporation 66, 89, 94

J&F Investimentos 18, 28, 88, 103

JK Capital 88, 91, 144, 145

JLR, Infors Investimentos 70, 72, 81

J. Malucelli Construtora 105

J. Malucelli Energia 105

Jones Day Brazil 78

Jones Day US 61, 78

J.P. Morgan 19, 35, 73

JV Weener-Globalpack 95

KKaszek Ventures 45, 56, 69, 72, 75, 82, 84, 94, 97Kickoff 43

Kima Ventures 75Kinea Investimentos 18, 33, 57, 74, 104, 106, 108

King & Wood Mallesons China 54Kirkland & Ellis US 19, 35, 73

KLA - Koury Lopes Advogados 45, 92, 100, 146

Kobe Steel 66, 89, 94, 102

Koolen Participações 97

Koolen Participations B.V. 97

KPL Soluções 100

Kroton Educacional 18, 91

LLaboratório São Francisco - ME 88

Laboratório São Marcos 88

Lanna Ribeiro, Carneiro de Souza & Fragoso Pires Advogados 92

LaSalle Investment Management 75

Latasa Reciclagem 64

Latin America Power 52

Lefosse Advogados 35, 70, 72, 75, 92, 101

Lending Serviços de Administração 108

Levian Participações 90

Linhas de Transmissão de Montes Claros 106

Lintran do Brasil 106

Livraria Saraiva 18, 77, 89

Llorente & Cuenca America 89

Llorente & Cuenca do Brazil 89

L. O. Baptista, Schmidt, Valois, Miranda, Ferreira, Agel Advogados 92

Lobo & de Rizzo Advogados 18, 33, 62, 75, 76, 92, 101, 148

Locatec 105

Loducca 95, 101

Logbras 106, 107

Loggi 45, 97, 100

Logix Info 103

Loxam 97

Lumia Capital 71, 84

Luna Gold 109

MMachado, Meyer, Sendacz e Opice Advogados 18, 33, 52, 57, 61, 62, 66, 69, 72, 102, 150

Madero 33, 70

Madrona Advogados 92, 102

Magma 88, 91

Makira II 81, 106

Manabi 90

Maraba Participações 108

Marelli 62

Marfrig 20, 29, 59, 88

Marinoteis 79, 95

Mariol Medicamentos 99

Marval O´Farrel & Mairal 79, 83

Mattos Filho, Veiga Filho, Marrey Jr. e Quiroga Advogados 18, 19, 33, 35, 52, 53, 54, 56, 57, 61, 66, 70, 73, 75, 76, 77, 78, 79, 81, 92, 103, 152

Maverick 90

Maynart Energética 96, 99

MBR - Minerações Brasileiras Reunidas 18, 66, 88, 103, 106

Menfis FIP 103

MercadoLibre Commerce Fund 45, 82

Mercado Livre 100

Mérieux NutriSciences Corporation 88

Metropolis Capital Markets 66

MGE Transmissão 105

Milbank, Tweed, Hadley & McCloy US 52, 54

Mineração Aurizona 109

Minor Continental

Holding Luxembourg 79, 95

Minor Continental Holding Luxembourg 79, 95

Mitsui Gás e Energia do Brasil 18, 53, 61, 103, 105

Mitsui-Soko 102

MM Groupe Participações, I-value Tecnologia 99

MNA - Miguel Neto Advogados 78, 92, 103

Moelis & Company Brazil 18, 33, 74

Monashees Capital 43, 45, 69, 71, 72, 75, 76, 82, 84, 98, 100

Morgan Stanley 75, 83

Morgan Stanley Brazil 75

Morrison & Foerster Japan 18, 53, 61

Morrison & Foerster US 18, 53, 61

Motechfilm Produtos Plásticos 104

Motta, Fernandes Rocha Advogados 45, 92, 103

Movile 104

Moy Park 20, 59, 88

Mubadala 66

Multidisplay 99

Mundie e Advogados 33, 57, 92, 104, 154

NNansen 93, 100

NE Agrícola 67

Neodent 63

Neo Investimentos 62

Neolatina 63

Neo Química 63

Netshoes 83

Nextgenb 70, 72, 81

Nexto 60, 71

Nexxus Capital 79

NGP Energy Capital Management 61, 71

Ningbo 93, 100

Nisshin Steel 66, 89, 94, 102

Nissin Foods Holdings 59, 105

Nissin Miojo 59, 105

NovaAgri 75, 101, 107

Nova Renova Energia 52, 54, 108

Novelis Brazil 96, 99

Novita 19, 89, 90, 106

NSOSPE 57, 90, 98

Nterra Participações 90, 98, 99

Nubank 45

Nunes & Sawaya Advogados 92, 104

OOi 29

Oiltanking 53, 96

Omidyar Network 76, 84, 105

Oncoclínicas do Brasil 88, 99

Oppenheimer Funds 101, 104

Oprime 95, 96

Ouribom Participações 78, 103

OUTFRONT Media 74

OUTFRONT Media Argentina 74

OUTFRONT Media Brazil 74

OUTFRONT Media Chile 74

OW Estacionamentos 97, 109

PP2Brasil 35, 52, 75, 90, 101, 103, 104, 107

Pacific Hydro Energia do Brasil 54

Pacific RDSL Participações 18, 28, 73, 88, 94, 97

Pacific Road Capital Management 66, 109

Pague Menos 35, 70

Pampa Agribusiness Follow-on Fund L.P 20

Pampa Agribusiness Fund 20

Pare Bem 103

Pátria Investimentos 35, 69, 71, 73, 75, 106

Paul, Weiss, Rifkind, Wharton & Garrison 35, 70

PCS Sales 61

Pellegrino 90

Península II FIP 78

Península Participações 78

Pérez Alati, Grondona, Benites, Arntsen & Martinez de Hoz 72

Pérez, Bustamante & Ponce Abogados 70, 72

Performa Investimentos 61, 73, 82, 84

Petrobras 18, 53, 61, 103, 105

PetroRio (In-house) 53

Petros 101, 104

Philippi, Prietocarrizosa & Uría Chile 54

Pinheiro Guimarães Advogados 35, 60, 66, 75, 92, 104, 156

Pinheiro Neto Advogados 18, 19, 33, 43, 158, 53, 59, 61, 63, 64, 70, 74, 75, 76, 77, 81, 92, 105, 72

Pinnacle Ventures 45, 82

PLMJ 79

Plural Capital 69, 72, 84

PMKA Advogados 18, 56

PointState Argentum 56

Pojuca 79, 95

Pontomobi 93, 100

Posco Group - Pohang Iron and Steel Company 66, 89, 94, 102

PPE Fios Esmaltados 100

Prakolar Rótulos 102

Priceline 83, 107

Prime Sistemas de Atendimento ao Consumidor 93

Private Advising Group 45

Private Equity Partners A 69, 91

Private Equity Partners B 69, 91

Produquímica 61

Property Brazil 106, 107

Proskauer Rose 52

Prumo Logística 53, 96

Psafe Tecnologia 45

PSP Investments 33, 71

PwC Brazil 102

PwC Spain 52

QQED Investors 45, 69, 82

QMC Telecom Brazil 45, 85

QMC Telecom Colombia 45, 85

QMC Telecom Mexico 45, 85

Qualcomm Ventures 45, 71, 75, 82, 84, 98, 100

Qualicaps 63, 94

Quasar Ventures 71, 84

Quimatec 105

Quiport 20

RRabobank Group 61

RBM Solutions 43

RCD Equipamentos Blindados 102

Rebaza, Alcázar & De Las Casas Abogados Financieros 70, 72

Recovery do Brasil Consultoria 18, 69, 72, 109

Rede D’Or São Luiz 18, 19, 35, 73, 88, 89, 94, 97

Redpoint e.Ventures 69, 72, 74, 76, 82, 84, 98

Redpoint Ventures 43, 45, 82, 84

Reflex & Allen 103

Reggia Participações Societárias 98

Relsa Brazil 90

Renova Energia 52, 54, 108

Resultados Digitais 43, 98

Rhodium Capital 74, 84

Ribbit Capital 84

Rigi Ventures 84

Rio Canoas Energia 52, 102

Rio dos Poços Participações e Serviços 98

Rioforte Brazil 79, 95

Rio Verde Energia 52, 102

Ritch Mueller 74

Riverwood Capital 71, 82, 83, 84

Rocha Terminais Portuários e Logística 106

Rontan 60, 64

Rosneft Brazil 53

Rothschild 69, 88, 91

RR Donnelley & Sons 33

Rui Celso Reali Fragoso e Advogados Associados 67

SS22 Capital 82, 84

Sabó 103

Sabó Mangueiras 103

S/A Comunicação 89

Safe seguros 108

Salix Group 43, 74

Salus - FIP 54

Salvador Holding 52, 54, 108

Santander Global Banking & Markets Brazil 18, 19, 77

Santander Global Banking & Markets Spain 54

São Bernardo Plaza Shopping 56

Saraiva Educação 18, 77, 89

Sato Europe 102

Seekr 43

Sequana Group 62, 90, 101

Sequoia Capital 45, 69, 82

SerPartners 70, 72, 81

Serviço de Hemodinâmica 98

Sevita 18, 33, 76, 91, 101

Shearman & Sterling 19, 75

Shopping Light 90

Shopping Paralela 33, 91

Sidley Austin US 19, 75

Sieve Group Brazil 107

Simpson Thacher & Bartlett US 78, 79, 83

Siqueira Castro Advogados 92, 105

Skadden, Arps, Slate, Meagher & Flom US 19, 35, 70, 72, 73, 81

Smollan 94

Smurfit Kappa 62, 102, 108

Soares Bumachar Chagas Barros 92, 105

Sociedade Educacional Leonardo da Vinci 18, 33, 76, 91, 101

Sociedade Lageana Educacional 18, 33, 76, 91, 101

Sociesc 100, 109

Solace Venture I 75

Solenis do Brasil Químicas 105

Somos Educação 33, 76, 77, 106

Souza Cescon Advogados 19, 33, 52, 62, 63, 66, 69, 70, 74, 77, 78, 81

Souza, Cescon, Barrieu & Flesch Advogados 18, 92, 106, 160, 72

Souza Cruz 19, 88, 89, 108

SP Ventures 82

SS Towers Participações 29

State Grid Brazil 106

State Power Investment 54

Sterigenics International 97

Stocche, Forbes, Padis, Filizzola, Clapis, Passaro, Meyer e Refinetti Sociedade de Advogados 33, 67, 77, 81, 92, 106

Straumann 63

Submarino Viagens 91

Sudex Tito Logística 102

Sul América Serviços de Saúde 96

SunEdison 52

Supremo Cimento 57, 90, 98

TTarpon Investimentos 33, 69, 76, 77, 91

Tauil & Chequer Advogados 92, 106

Telemática Soluções em Informática 96

Temasek Holdings 35, 75, 90, 101, 104, 107

Tempo Participações 69, 91

TerraForm Global 52, 54, 108

ThirdLevel 45

Thunnus Participações 33, 76, 77, 106

Tiger Global

Management 69

Tiger Global Management 45, 82, 84, 98

Timoner e Novaes Advogados 92, 107

Tito Cademartori de Argentina 102

Tito Cademartori de Mexico 102

Tito Global Trade Service USA 102

TMF Group 102

TNE - Triunfo Negócios de Energia 52, 102

Toscana II FIP 63

TOTVS Ventures (TOTVS) 107

Toyota Tsusho Corporation 75, 101, 107

TozziniFreire Advogados 19, 35, 74, 75, 78, 79, 83, 85, 92, 107, 162

Transenergia Renovável 105

Transenergia São Paulo 105

Trench, Rossi e Watanabe Advogados 74, 75, 83, 107

Trevisan Tecnologia 107

Treviso Empreendimentos e Participações 18, 101

Triaxis Capital 43, 71, 74, 82, 84

Triple Seven Accelerator 82

Triunfo Participações 52, 102

TruckPad 104

TRX Holding Investimentos e Participações 106, 107

UUBM Brazil 74, 107

Ubook 97

UBS Brazil 20

Ulhôa Canto, Rezende e Guerra - Advogados 18, 19, 33, 56, 74, 92, 108, 164

uMov.me 84, 107

União Participações 70, 72, 81

United 78, 93

Unither Farmaceuticals 99

UPL (United Phosphorus Limited) 78

Uría Menéndez Spain 52, 54

Usina Internet Group 107

VValar Ventures 84

Vale - Companhia Vale do Rio Doce 18, 29, 66, 88, 103, 106

Valid Spain 20, 81

Valor Capital Group 75, 76, 82, 84

Vaz, Barreto, Shingaki & Oioli Advogados 92, 108

Veirano Advogados 33, 45, 52, 53, 54, 166, 62, 70, 81, 83, 92, 108, 72

Vella Pugliese Buosi e Guidoni Advogados 92

Vendor, OUTFRONT Media Uruguay 74

Ventrix 43

Verus Holdings 76, 100

Vicente Bagnoli Advogados 54

Victoria Capital Partners 74, 99

Vieira Rezende Advogados 18, 69, 72, 85, 92, 109

Vila Real Energia 96, 99

Vinci FII 33, 91

Vinci Partners 18, 33, 71, 76, 88, 91, 101

Vinson & Elkins UK 53

VJF&F Participações 67

Votorantim Metais 29

Vox Capital 73, 76, 82

WWachtell, Lipton, Rosen & Katz 79, 83

Warburg Pincus 59, 63, 97

Wayra Brazil 71, 84

WebRadar 45, 98

Weener Plastic Packaging Group Brazil 95

Weilburger Graphics 100

West Shopping 33, 91

Wise Up 106

WOW 82, 84

ZZahav Empreendimentos Imobiliários 90

Zunnit Tecnologia 93

brazil 2016 m&a handbook 2016 - ttr€¦ · 2016 brasil m&a handbook 2016 brazil análise...

Documents