Debevoise & Plimpton LLP has advised GP Investments, Ltd. (“GP”), Latin America’s largest private equity firm, in the structuring of a joint venture with a subsidiary of the Abu Dhabi Investment Authority (“ADIA”) to acquire a controlling stake in BR Properties S.A. (“BRP”), a Brazilian real estate company which GP founded in 2006 and exited in 2010. In December 2015, GP and ADIA made an initial investment to finance the acquisition of approximately 12% of BRP’s shares owned by its controlling shareholder BTG Pactual on BM&FBovespa, the Sao Paulo Stock Exchange. The initial investment is followed by a subsequent round of funding for the acquisition of BRP’s control, increasing the joint venture’s total stake to a maximum of approximately 70% of BRP’s outstanding shares, through a tender offer expected to be launched in Brazil in by the end of March 2016.
GP is a leader in alternative investments in Latin America with a strong presence in asset management, principally private equity funds. BRP is one of the main commercial real estate investment companies in Brazil. BRP is focused on acquiring, leasing, managing, developing and selling commercial properties, including office space, industrial warehouses and retail locations.
The Debevoise team was led by partner Maurizio Levi-Minzi and included partners Peter A. Furci and Sally Gibson, associates Camila Amaral Surcan, Maria B. Navarro and Alisa A. Waxman and international associate Rafael Thor.
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