Bruno Wernek, Bernardo Môcho and Paulo Sorj

T&C and Mattos Filho on the acquisition of CRO by MT PAR

Tauil & Chequer Advogados associated with Mayer Brown e Mattos Filho have advised the acquisition of the Rota do Oeste Concessionária (CRO) by MT Participações e Projetos (MT PAR), a company controlled by the State of Mato Grosso, involving an amount of R$ 2.2 billion (R$ 1 billion in negotiated debts and R$ 1.2 billion in investment).

The operation is unprecedented in Brazil, since it is the first time that a private company passes to public control, which required the approval of several government agencies, such as the Mato Grosso State Government, the Federal Audit Court, the Mato Grosso State Audit Court, and the National Land Transport Agency.

In order for the deal to be concluded, a Conduct Adjustment Agreement was required with an action plan for the operation of the CRO, which would only be possible with the exchange of control of the concessionaire. In addition, the deal involved the negotiation and assignment of the debt that CRO had with six financial institutions.

Tauil & Chequer Advogados associated to Mayer Brown advised MT PAR and relied on partner Bruno Werneck (pictured left) and associates Sarah Ferreira, Julio Barboza, Grazielle Pereira and Bernardo Castro.

Mattos Filho advised Banco Crédit Agricole Brasil, Itaú Unibanco, Banco Pine, Banco ABC Brasil, ING Administração, Banco do Brasil, Caixa Econômica Federal and relied on partner Bernardo Môcho Moura (pictured center) and Pablo Sorj (pictured right), associates Rafaela Moreira Haddad and José Guilherme do Nascimento Malheiro.