Pinheiro Neto advises on Telhanorte sale

Pinheiro Neto advised Saint Gobain do Brasil Produtos Industriais e para Construção and Partidis on the divestiture of Saint Gobain Distribuição Brasil, the holding company behind the Telhanorte retail chain, to Brazilian business management consultancy Tauá Partners.

Under the terms of the transaction, Tauá is acquiring 100% of the quotas issued by Telhanorte through its investment vehicle Lalique Participações, representing the entirety of Telhanorte’s corporate capital. The transaction value has not been disclosed.

The transaction marks Saint Gobain’s full withdrawal from the retail distribution of construction materials in Brazil, a segment in which Telhanorte has been a prominent player.

Pinheiro Neto’s team advising the seller was led by partner Antonio Morello (pictured), supported by senior associate Bruna Pavanello and associate Paula Rodovalho Silva.

ESLS represented Tauá and relied on Ester Galha Santana, Leticia Simonetti Garcia and Maria Julia Garcia Seike.