Multiple firms act on the sale of AccorInvest’s hotel portfolio to BTG
Trench Rossi Watanabe and Machado Meyer were the legal advisors on the sale of a hotel portfolio by AccorInvest to BTG Pactual.
The operation, which has already been approved by CADE – with a final decision at the beginning of November – and whose value could reach R$1.7 billion when completed, includes the sale of high-value hotels such as the Fairmont Copacabana and the Sofitel Ipanema.
Trench Rossi Watanabe advised AccorInvest on several fronts, such as the preparation of the data room, the vendor’s due diligence of the assets, the structuring of the deal and the carve-out of assets located in other Latin American jurisdictions, such as Colombia, Peru and Argentina. The team was also in charge of drafting and negotiating the transaction documents.
With the acquisition, BTG Pactual, advised by Machado Meyer, will expand its portfolio to 56 hotels and almost 5,000 rooms, of which 2,600 rooms will continue to be operated by Accor under its respective banners. The properties will be distributed in three funds managed by BTG, two of them already listed on B3, and a third in the creation phase, aimed at institutional investors.
Trench Rossi Watanabe relied on partners Anna Mello, Marcel Fracarolli Nunes, Paulo Casagrande, Clarissa Machado and Reinaldo Ravelli (pictured top from left to right), associates João Francisco Brandão, Miguel Damous, Andrea Cruz, Caroline França, Gabriel Valuche, Marie Grinberg, Beatriz Paz and Felipe Grillo.
Machado Meyer’s team also provided comprehensive support at all stages of the transaction. The work involved the legal audit of the assets, the negotiation of the share purchase agreement, as well as the submission of the transaction to CADE.
With a multidisciplinary team dedicated to the project, Machado Meyer had the support of partners Luiz Mascaro, Maria Flavia Seabra, Martina Zajakoff, Andrea Massei, Maria Eugenia Novis, Bruna Marrara, Gisela Ferreira Mation (pictured bottom from left to right) and associates Mariana Perecin, Luiza Toscano, Marcelo Vianna Chaves Seabra, Clarissa Torrente Camarinha and Vitor Scavone Damasio.
Baker McKenzie acted in the other jurisdictions involved in the transaction providing assistance on local law issues, including Luxembourg, with partner Jean-François Findling, counsels Nastasia Dumitru and Teolina Tentchev; Colombia, Peru and Argentina. In addition, Banco Itaú and Eurolatina Finance were AccorInvest’s financial advisors in this operation.
