Tauil & Chequer Advogados associated with Mayer Brown advised, together with Latham & Watkins LLP, the Bunge Group in its merger with the Viterra Group in Brazil.
The transaction comprises the worldwide operations of both Groups and will create a global agricultural trading giant, worth $30 billion.
Through the transaction, Viterra’s shareholders will receive approximately 65.6 million Bunge shares, with an aggregate value of $6.2 billion, and approximately $2 billion in cash. Bunge will assume $9.8 billion in debt from Viterra, which is associated with approximately $9 billion in highly liquid and readily marketable inventory.
In addition, Bunge announced that it intends to repurchase, within 18 months, $2 billion of its own shares to raise adjusted net income. Thus, Viterra shareholders would own 30% of the newly combined company and 33% after Bunge’s share buyback plan.
The T&C team relied on several areas, and was led by partners Christian Roschmann and Lilian Toscani; with participation of partners Francisco Todorov, Adriana Giannini, Aline Fidelis; associates Stefano Braga and André Pini, Isabella Giorgi, Isabella Fraia.