Machado Meyer acts as advisor to Carrefour Brasil in the purchase of BIG Group
The deal was valued at R $ 7.5 billion. BIG Group is the third largest food retailer in Brazil and has 387 stores in the country
Machado Meyer acted as legal advisor to Carrefour Brasil in the purchase agreement for the totality of the shares of Grupo Big Brasil (ex-Walmart Brasil) for R $ 7.5 billion.
The acquisition will be made in 70% with cash, and 30%, through newly issued shares of Carrefour Brasil.
The conclusion of the deal depends on the approval of the shareholders of Carrefour Brasil and evaluation by the Administrative Council for Economic Defense (Cade) and Carrefour’s expectation is to obtain the approval of the regulator by 2022.
The acquisition of the BIG Group will expand Carrefour Brasil’s presence in regions where its penetration is limited, such as the Northeast and South of the country, which offer strong growth potential. The acquisition allows Carrefour Brasil to expand in its traditional formats (namely Cash & Carry and hypermarkets). The transaction will also reinforce Carrefour Brasil’s footprint in formats in which it has a more limited presence, in particular supermarkets and soft discount.
In addition, Carrefour Brasil will operate in a new market segment with the Sam’s Club format, through a license agreement with Walmart.
The team that led the work in Machado Meyer was composed by partners Arthur Bardawil Penteado (pictured left), Elie Jaques Sherique (pictured centre), Vitor Fernandes De Araujo (pictured right), Roberta Danelon Leonhardt, Bruna Marrara Martinez, Ivana Amorim De Coelho Bomfim, Clarissa Figueiredo De Souza Freitas and Rodrigo Seizo Takano in addition to lawyers from the firm Bianca Telles Menchise, Mariana Meditsch, Tatiana Machado Soares, Laura Ducati Dabronzo, Gustavo Ferreira De Campos, Marcela Ortega Tavares, Claudia Freschi Soares, Sávio Pereira De Andrade, Agnes Domingues, Rafael Costa Silva, Cesar Ozolins Manzione, Clarissa Torrente Camarinha.
Mattos Filho, Veiga Filho, Marrey Jr. and Quiroga Advogados were consultants of the Big Group. The firm advised Momentum – Fundo de Investimentos em Participações Multiestratégia.
The Mattos Filho team was formed by partners Rodrigo Figueiredo Nascimento, Luciana Pietro Lorenzo, Andrea Bazzo Lauletta, Paulo Camargo Tedesco, Mariana Spoto Cobra, Marcio Soares, Cleber Venditti da Silva. Also participating are the associates José Francisco Rodrigues Gontijo, Rodrigo Cervone Miranda, Maria Fernanda Fidalgo Fernandes da Cunha, Vítor de San Juan Faria, Thomaz Miguel Costa Carpes Borges and Ana Carolina Folgosi Bittar.
