Pinheiro Neto, Machado, Meyer, Sendacz e Opice and Advocacia José Del Chiaro have advised on the deal
ArcelorMittal Brasil S.A. and Votorantim S.A. announce today the signing of a definitive agreement, pursuant to which Votorantim’s long steel businesses in Brazil, Votorantim Siderurgia, will become a subsidiary of ArcelorMittal Brasil and Votorantim will hold a minority stake in ArcelorMittal Brasil. Votorantim’s long steel operations in Argentina (Acerbrag) and Colombia (PazdelRío) were not included in the transaction.
The combination of the businesses will result in a long product steel producer with annual crude steel capacity of 5.6 million tonnes and annual rolling capacity of 5.4 million tonnes. Production facilities include ArcelorMittal Brasil’s sites at Monlevade, Cariacica, Juiz de Fora, Piracicaba and Itaúna, and Votorantim Siderurgia’s sites at Barra Mansa, Resende and its participation in Sitrel, in Três Lagoas. The merger is expected to generate cost, logistical and operational synergies. The combined businesses production facilities are geographically complementary, enabling closer proximity, and higher levels of service, to its customer base.
The transaction is subject to regulatory approvals in Brazil, including the approval of the Brazilian anti-trust authority CADE.
Until closing, ArcelorMittal Brasil and Votorantim Siderurgia will remain fully separate and independent companies.
Pinheiro Neto has advised Votorantim Siderurgia S.A. with Fernando Alves Meira, Leonardo Rocha e Silva, Pythagoras Carvalho, Camila Carvalho Gomes, Marcos Garrido and Luiz Fernando Lockmann E. Souza.
Machado, Meyer, Sendacz e Opice has advised ArcelorMittal Brasil S.A. with Guilherme Malouf (Picture), Gustavo Rugani, Cristiana Rebelo, Guilherme Azevedo and Daniela Valente.
Advocacia José Del Chiaro has advised ArcelorMittal Brasil S.A. with José del Chiaro and Ademir Pereira Junior.
Involved fees earner: José Del Chiaro – Advocacia José Del Chiaro; Ademir Antonio Pereira Júnior – Advocacia José Del Chiaro; Guilherme Bueno Malouf – Machado, Meyer, Sendacz e Opice; Gustavo Rugani Do Couto E Silva – Machado, Meyer, Sendacz e Opice; Cristiana Rebelo Wiener – Machado, Meyer, Sendacz e Opice; Guilherme Azevedo Ferreira Alves – Machado, Meyer, Sendacz e Opice; Fernando Alves Meira – Pinheiro Neto; Pythagoras Lopes de Carvalho Neto – Pinheiro Neto; Camila Carvalho Gomes – Pinheiro Neto; Luiz Fernando Lockmann e Souza – Pinheiro Neto; Leonardo Peres da Rocha e Silva – Pinheiro Neto; Marcos Pajolla Garrido – Pinheiro Neto;