Pinheiro Neto advised V.tal on the acquisition of ClientCo
Pinheiro Neto Advogados advised V.tal – Rede Neutra de Telecomunicações on the acquisition of ClientCo Serviços de Rede Nordeste an isolated production unit (UPI) incorporated by Oi as part of its judicial recovery process, which includes Oi’s fiber-optic broadband business.
This transaction stems from V.tal’s winning bid in Oi’s judicial recovery proceedings. As consideration for the transfer of 100% of ClientCo’s equity interest to V.tal, Oi received: 300,873,650 DIP debentures issued by Oi as payment in kind; certain credits against Oi related to connected home connection costs as payment in kind; and 4,760,900,003 new shares issued by V.tal. The transaction is valued at approximately BRL 5.7 billion, subject to price adjustment mechanisms.
Pinheiro Neto advised V.Tal and relied on partners André Bernini, Leonardo Baptista Rodrigues Cruz, Thiago Braga Junqueira, Fernando Zorzo (pictured from left to right), senior associates Rodrigo Vieira, Roberto Mandetta, Max Fritz, Paula Destrutti, João Guilherme Thiesi da Silva, associates Caio Gambini, João Pedro Silveira de Melo, Maria Fernanda Marchesan Del Grande, Roberta Tedeschi Villela Esteves.
Padis Mattar Advogados advised the sellers.
