TozziniFreire assists OTPP and Norte Brasil in BRL700m deal
TozziniFreire Advogados advised the buyer OTPP and the target company Norte Brasil Transmissora de Energia in BRL700 million deal
The transaction involved the acquisition by Leovac, a subsidiary of the Canadian pension plan OTPP, of all the shares held by Eletronorte, a subsidiary of Eletrobras, in Norte Brasil Transmissora de Energia (NBTE). Thus, OTPP and other Canadian investors became owners of 100% of the issued and outstanding shares of NBTE (in July 2021 OTPP had acquired 51% of NBTE from a fund managed by global private equity firm TPG).
The value of the deal is R$700 million.
The transaction is part of Eletrobras’ stock rationalization initiative and also represented another material milestone in OTPP’s expansion throughout Latin America.
TozziniFreire Advogados had partners João Busin (pictured top left), Juliana Maluf (pictured top right), Leonardo Miranda (pictured bottom left), Ana Carolina Katlauskas Calil (pictured bottom right) and associates Isabella Koshiyama, Eduardo Silveira, Gustavo Ceridorio, Stefania Toschi.
