Multiple firms act on the acquisition by Parshop of BRASC RS
Pinheiro Neto, Machado Meyer and Eskenazi Pernidji Advogados acted on the acquisition, by Parshop Participações, a wholly owned subsidiary of Combrashop Cia. Brasileira de Shopping Centers, of 100% of the capital stock of BRASC RS Shopping Centers, held by Brazil Retail Fundo de Investimento em Participações Multiestratégia (FIP Retail) and, indirectly, 54% of the capital stock of Combrascan Shopping Centers, which indirectly holds 100% of Shopping Rio Sul.
The acquisition was implemented by means of the exercise of the right of first refusal held by Combrashop pursuant to the shareholders’ agreement of Combrascan, after FIP Retail informed Combrashop of its intention to sell 54% of the capital stock to certain third parties by means of the disposal of 100% of the capital stock of BRASC RS.
Upon closing of said transaction, Combrashop (which currently holds 46% of the capital stock of Combrascan) will become the sole owner of Combrascan, directly or indirectly (by means of Parshop) and, thereafter, will sell, directly or indirectly, 33,3% of equity of the Shopping Rio Sul to BB Premium Malls Fundo de Investimento Imobiliário de Responsabilidade Limitada. and 16,6% of equity of the Shopping Rio Sul to Iguatemi S.A., which shall be engaged as the new manager of the Shopping Rio Sul.
The transaction value was BRL 1,182,200,000.
Pinheiro Neto Advogados advised Combrashop Cia. Brasileira de Shopping Centers and relied on partner Marcos Chaves Ladeira (picturted); and Daniel Costa Rebello; senior associate Renato Grecco, associates Raphaela Almeida Morais Varella, Daniel Campos, and Giovana Vieira Porto.
Machado Meyer advised Brazil Retail Fundo de Investimento em Participações Multiestratégia and relied on partners Guilherme Bueno Malouf (pictured center), Paulo Henrique Carvalho Pinto (picture right) and associate Rodrigo Batah.
Eskenazi Pernidji Advogados advised Iguatemi and relied on partners Sergio Eskenazi, Cristina Gonçalves and associate Stephanie King. Pinheiro Neto’s partner Daniel Costa Rebello and associate Giovana Vieira Porto also advised Iguatemi on the competition area.
