Bichara advises Aura Minerals on BRL 612m deal
Bichara advised Aura Minerals on an agreement to acquire a company Newco, that will hold the mining fleet, related equipment leases and dedicated workforce currently operated by a third-party contractor at three of its gold operations in Brazil — Apoena, Almas and Borborema. The move, described as an “Insourcing” of fleet operation and maintenance, is targeted to transition in January 2027.
The agreed consideration for the acquisition, referred to as the Enterprise Value, is BRL 612 million (approximately US$118 million). Of that amount, up to BRL 250 million will be paid in cash, with the remainder consisting of the assumption of existing equipment lease financing and the retention of other contingent payments typical for this type of transaction. A portion of the consideration is subject to performance during the transition period, a structure designed to align the seller with a smooth handover. As part of the deal, Aura will also absorb the existing workforce dedicated to fleet operation and maintenance at the three operations, aiming to ensure continuity and avoid disruption once the acquisition is completed.
Closing of the transaction is subject to customary conditions precedent, including antitrust clearance from Brazil’s Administrative Council for Economic Defense (CADE).
The Bichara Advogados team advising Aura Minerals was led by partner Filipe Morais Cunha, together with associates Ricardo Amadeu Sassi Filho, Daniel Czarnobai Abuchalla and Laura Sant’Anna Purri Miranda.
