Chediak Advogados is advising German oil storage and transport company Oiltanking on its acquisition of a 20 per cent stake in an oil terminal unit at Rio de Janeiro's Açu Port, the world's third-largest port complex, for US$200 million.

Brazilian port operator Prumo Logística, which is controlled by US private equity firm EIG Global Energy Partners, hired Veirano Advogados. Oiltanking is a subsidiary of Marquard & Bahls, a family-owned Hamburg-based oil shipping and storage company. Both companies announced the deal on 6 August.

The transaction saw Prumo create an entirely new company called Açupetroleo, to which it contributed a number of assets – including an iron ore terminal, operations relating to offshore infrastructure, and real estate where Prumo plans to build terminals and maintenance structures for tankers. "It's a very complex operation," says Veirano partner Carlos Lobo. "By putting these assets together, they created a US$1 billion company."

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