Stocche Forbes and Mattos Filho on Embracon-CNP deal
Stocche Forbes Advogados advised Embracon Administradora de Consórcios on the execution of an investment, purchase and sale and other covenants agreement with CNP Assurances Participações, CNP Assurances and CNP Assurances Latam Holding. The transaction is aimed at the business combination of Embracon and CNP Consórcio – Administradora de Consórcios, carried out through a corporate reorganization that involves the merger of CNP Consórcio into Embracon and the acquisition of shares of Embracon by the investors.
The deal, signed on October 20, 2025, grants the investors a 40% stake in Embracon’s capital stock. The financial terms remain confidential, though the amount involved is stated to exceed BRL 5 million. The operation falls within the consortium administration sector, a segment specific to the Brazilian financial market in which Embracon and the target CNP Consórcio both operate.
Stocche Forbes also represented the selling shareholders in the transaction, Companhia Savian de Participações and Companhia JVFJ de Participações, while Mattos Filho acted for the investor side, CNP Assurances.
Stocche Forbes team was led by partners Rafael de Almeida Rosa Andrade (pictured left), Andre Stocche, Fabiano Milani, Renato Coelho, Ana Paula Paschoallini and Eduardo Diniz Alves Pereira, together with associates Carolina Vilela Marcondes Machado, Ana Luiza de Deus Mendonça, Thomás Felipe Crosta, Natan de Oliveira Pizzatto, Beatriz Kenchian, Izabella de Menezes Passos Barbosa and Lucas Vasconcelos Silva.
Mattos Filho’s team advising CNP Assurances was composed of partners Adriano Guatamosim Carneiro (pictured right) and Marcelo Mansur Haddad, with associates Georges Vicentini El Hajj Moussa, Camila Spadoni Mahfuz, Gabriela Pires and Amanda Figueiredo Rayes.
CNP Assurances was also assisted internally by in-house counsel Susan Barrio de Siqueira Campos and Talita de Oliveira Leite. No in-house legal counsel was reported for Embracon or for the selling shareholders.
