Machado Meyer advised Brazil-based energy giant Petrobras in the contracts related to a strategic alliance with Total, its French counterpart.
The alliance includes joint studies, sale of participating interest in two of the most relevant blocks of the Brazilian pre-salt area, partial sale and formation of joint venture to operate two power plants, and several arrangements of infrastructure associated with those upstream and power assets. Petrobras is selling to Total an asset package in the value of $2.2 billion.
Partner Daniel Szyfman led the Machado Meyer advising Petrobras.
Total retained Tauil & Chequer in Rio de Janeiro and, separately, Mayer Brown in Houston.