Corporate and M&A in Brazil

With a particular focus on listed companies, BMA – Barbosa, Müssnich, Aragão has one of the country’s leading M&A practices. It is regularly involved in sophisticated mergers, acquisitions and public offerings, including deals with cross-border aspects. It has recently handled a number of transactions in the retail and shopping centres segment, and has also seen an uptick in corporate restructuring mandates. In terms of diversity and inclusion, the firm has a programme named BMA Diversity, through which it seeks to collaborate internally and with other law firms. The firm is part of the Aliança Jurídica pela Equidade Racial (Legal Alliance for Racial Equality), a project between law firms in Brazil and São Paulo law school FGV Direito SP aiming to promote the inclusion of black professionals in the legal market. M&A, capital markets and commercial arbitration specialists Paulo Cezar Aragão and Francisco Müssnich, Monique Mavignier, whose strong practice sees her acting on the buy and sell side of M&A and private equity investments, and corporate, M&A, corporate governance and securities law expert Luiz Antonio Campos are key practitioners in the team. Other names to note include M&A, joint ventures and debt restructuring specialist Luís Loria Flaks, Plínio Barbosa, whose sector specialisms include real estate, mining and infrastructure, and Amir Bocayuva Cunha, who acts for listed companies, entrepreneurs and private equity funds. In addition to its unquestionable strength at the partner level, the department also benefits from the input of experienced associates Rodrigo Mariani and Thiago Pinho, among others. Since publication, Ana Paula Reis and Ellen Juste Nuñez were promoted to partner, in December 2021.

Cescon Barrieu has a well-established reputation among the top M&A firms in Brazil, and continues to be involved in standout deals in the market. The team’s international experience makes it well placed to handle cross-border transactions, and its continued commitment to such matters was illustrated by its opening of a new office in Toronto in December 2020. Recently, the firm has taken key roles on a number of major deals in active sectors including education, healthcare and technology, in addition to the energy, mining and telecoms industries. The firm’s commitment to gender diversity is demonstrated by its balanced mix of women and men in the corporate department, among others. An important initiative is the firm’s association with the Incluir Direito – CESA project, which is in partnership with Mackenzie University and aims to increase the participation of black professionals in the legal sector. Its pro bono commitment is also of note; it has recently worked on a pro bono basis with WWF Brazil, GREEN4T, Iniciativa LIFT (a racial equality project which uses English language teaching as a tool for social mobility), Embrace Initiative (an education project for trans people) and Movimento Down. The sizeable team is jointly led by Maria Cristina Cescon and Marcos Rafael Flesch, and includes the ‘exceptional‘ Ronald Herscovici, Ana Carolina Castro Reis Passos and Marina da Silva Prado. Cristina de Freitas Bueno, who draws on former experience as an investment banker, Darkson Delmondes Galvão and corporate law and governance expert Fernanda Montorfano are also key contacts. Also of note is Tania Liberman, who joined from KLA Advogados in October 2021, bringing with her broad expertise in corporate law, IP and TMT. Marcelo Moura recently joined from Trench Rossi Watanabe.

Having successfully established a strong M&A practice, Demarest Advogados has a loyal following of household name companies in the financial services, consumer goods and life sciences sectors, among others, and also continues to attract new clients. Its recent workload includes complex and high-value M&A (including transactions that exceed the R$1bn mark) in the banking, agribusiness, technology, education and healthcare sectors. Corporate reorganisations and distressed M&A are other areas of specialism. In diversity and inclusion, the firm has a number of internal affinity groups, through which around 12% of employees volunteer as allies, including D Mais, its LGBTIQA+ affinity group, D Raízes for racial and ethnic equality (including its involvement with Incluir Direito and Aliança Jurídica pela Equidade Racial), and D Mulheres for gender equality. Luciana Cossermelli Tornovsky has vast experience in corporate and M&A and corporate governance, and also leads the firm's corporate social responsibility area. José Diaz and Paulo Coelho da Rocha also each draw on over 25 years of experience; they are names to note in the practice, along with Ana Carolina Botto Audi, who acts for major funds and blue-chip companies, Joyl Gondim, who specialises in mid-market and life sciences deals, and infrastructure, transport and logistics specialist Gabriel Kuznietz. Bruna Toledo Pacheco and Daniel Caramaschi, partners since January 2021, are also key contacts. In July 2021, the firm announced its Disrupt initiative, which focuses on start-ups.

The 'all-star team' at Machado Meyer Sendacz e Opice Advogados is 'attentive to the client's needs, and extremely agile'. The firm is adept in high-value deals that exceed R$1bn, in addition to mid-market transactions, where it works on the buy and sell side for well-known companies. With a sizeable team at both partner and associate level, the firm fields teams of experts in public M&A, private equity, healthcare and technology, among other sectors. Besides its offices in major states in Brazil, the firm also stands out for its presence in New York, which puts it closer to US-based investors and is also of benefit in outbound deals. The firm utilises technology and AI to improve efficiency, and has trained its staff through an Operational Excellence Programme that uses Lean Six Sigma, a methodology based on statistical methods to analyse data. In terms of D&I, the firm established a Diversity and Inclusion Committee in 2011, and today has affinity groups focusing on Gender Equality (Elas Conectam), LGBTIQA+ (#1gualdade) and Racial Equality (ID.Afro). Its work in these areas include lectures, meetings, mentoring and pro bono support. Guilherme Bueno Malouf leads the firm's business law department and is an expert in M&A and private equity investments. With him in the team are highly regarded corporate M&A and governance specialist Adriana Pallis and Arthur Bardawil Penteado, who acts for major Brazilian and international companies and private equity funds and is a member of the firm's executive committee. Diana Henne acts for international companies in their operations in Brazil, including in M&A and joint ventures, and Mauro Cesar Leschziner advises on M&A and private equity operations involving a broad range of sectors. Luciana Costa Engelberg, Ivandro Maciel Sanchez Junior and Manuela Lisboa Gentil Monteiro also receive praise.

Mattos Filho, Veiga Filho, Marrey Jr. e Quiroga Advogados has long been at the forefront of the Brazilian M&A market, where it is well versed in high-profile and high-value deals. The breadth of its practice – covering key sectors such as life sciences, technology, renewable energy, agribusiness, real estate and others – is matched by its size and geographic coverage, where it has dedicated lawyers based in São Paulo, Rio de Janeiro, London and New York. The firm’s extensive D&I programme is structured in five pillars, covering gender equality, LGBTIQAP+ rights, racial equity, rights of people with disabilities, and religious freedom, and sees the firm and its staff participating in social projects, awareness campaigns and volunteering. The firm’s well-established pro bono programme goes from strength to strength; in the period January to December 2020, the firm reported an increase of 122% in the number of pro bono cases opened. Sustainability is another area of focus for the firm, which, in 2020, joined the UN Global Compact advocacy campaign, signing a commitment to zero its carbon emissions by 2050. In a relevant development in 2021, the firm launched its internal Conecta initiative, which focuses on flexibility, efficiency and well-being. In corporate and M&A, Maria Fernanda de Almeida Prado e Silva often advises large companies on mergers, acquisitions, joint ventures, corporate governance and reorganisations, and is particularly active in deals involving publicly held corporations; Marcelo Sampaio Góes Ricupero is particularly prominent in distressed M&A and cross-border deals; Paula Vieira de Oliveira‘s practice has an emphasis on private equity transactions, where she works with leading funds active in the region; and Luciana Pietro Lorenzo, who draws on her previous experience as in-house counsel for a Brazilian fund, balances a broad corporate and M&A practice. Other leading practitioners include João Ricardo de Azevedo Ribeiro, Moacir Zilbovicius and Pedro Whitaker De Souza Dias. Fernando Amendola and associate Rafaella Barbosa Boccia and João Marcelino Cavalcanti Júnior (who made partner in April 2022) are also noted. The department was further strengthened by the arrival of highly regarded corporate law expert Tomás Neiva in 2021.

With a ‘huge reputation in corporate and M&A‘, Pinheiro Neto Advogados fields lawyers who ‘in addition to knowledge, have soft skills that are increasingly necessary in an environment of pressure and anxiety‘. Corporate and M&A has been in the firm’s DNA since its creation in 1942, and today it continues to be instructed in market-leading transactions, acting for a mix of buyers and sellers, and national and international companies. The full-service firm’s coverage of competition, compliance and capital markets is also of note. In the important topic of D&I, the firm’s diversity programme sees it acting on five fronts: gender, sexual orientation, ethnicity, people with disabilities and religious freedom. The firm is a signatory to the UN Free & Equal campaign and the Law Firm Antiracism Alliance (LFAA) resolution, and – alongside other leading Brazilian firms – it is a supporter of the Incluir Direito and Aliança Jurídica pela Equidade Racial projects. Its large pro bono practice remained active – and in fact increased in hours and participation – throughout the Covid-19 pandemic, during which time the firm participated in a number of relevant initiatives, including the Brazilian Relief Fund, Estímulo 2020, which assists small and medium entities as well as micro-enterprises to handle the economic fallout of the crisis. Key names in the large corporate and M&A department include the highly regarded Carlos Alberto Moreira Lima Junior, co-managing partners Alexandre Bertoldi and Fernando Alves Meira, member of the firm’s steering committee Vânia Marques Ribeiro, M&A, private equity and securities law partner João Marcelo Gonçalves Pacheco and Marcelo Viveiros de Moura, who has a notable track record in M&A in the oil and gas sector. M&A and capital markets expert Henrique Lang, Antônio José Mattos Morello, and senior associate Priscila Gurgel Menezes is also noted. Since publication, Camila Carvalho Gomes has been promoted to the partnership, effective January 2022.

‘Always working with ethics, respect, professionalism and a proactive approach,’ TozziniFreire Advogados is ‘widely recognised in the legal market‘. It remained busy during 2020 and 2021, taking key roles on domestic and multi-jurisdictional transactions involving companies in various sectors, including in private equity and venture capital deals. Its strength in M&A is matched by its prominence in competition, compliance and labour law, allowing the firm to provide comprehensive coverage. The firm is renowned for innovation and, in 2019, it launched its ThinkFuture project to consolidate its technology practices, with the aim of further strengthening its relationships with lawtechs and continuing to develop initiatives aimed at start-ups and open innovation programmes. Its D&I policies – which cover gender, LGBTIQA+, race, people with disabilities, refugees and sustainability – and pro bono programme are well established and have not gone unnoticed by the market either, with one client noting that ‘a special highlight is the number of women in leadership positions‘. The firm’s TFAffinity LGBTIQA+ group and TFAfro racial equality group each have almost 100 members, and the firm maintains partnerships with Nurap (Centre of Professional Learning and Social Assistance) and NGO Educafro, among other important organisations. Highly regarded corporate and M&A experts Marcela Waksman Ejnisman and Maria Elisa Gualandi Verri jointly lead the practice, which expanded further with the hires of of João Ribeiro da Costa and Oswaldo Dalla Torre from Landi, Rodrigues, Nakano e Giovannetti Advogados in June 2021. João Busin stands out for his ‘remarkable experience‘; he has established a strong name in private equity and venture capital. Jun Makuta coordinates the firm’s Japan desk, and complements his M&A practice with his experience in civil litigation and corporate restructuring; Silvia Martins de Castro Cunha Zono is highlighted for her ‘extensive experience in highly complex operations‘; and Francisco Eumene Machado de Oliveira Neto is ‘recognised for his performance in large M&A‘. Banking, capital markets and M&A expert Fabíola Augusta Cavalcanti, Leonardo Miranda, associate Victor Frias Françoso and Juliana Maluf, who joined the firm from Pinheiro Neto Advogados in March 2021, also receive praise.

An ‘extremely qualified team to deal with complex matters‘, Lefosse Advogados is a popular choice among leading Brazilian and international companies in strategic M&A. Its recent workload includes deals in the energy, healthcare and retail sectors, among others, with its advice to Coty on the sale of its Brazilian professional beauty and retail hair businesses to KKR a particular standout. The firm’s capital markets and tax practices also enjoy strong renown in the Brazilian market, providing a further benefit to clients. The firm established its Lefosse Plural initiative in 2017 to discuss important D&I matters, and it also has specific groups focusing on diversity in terms of gender, race, LGBTIQA+ and persons with disabilities. Another highlight is the firm’s varied pro bono practice, which in 2020 logged approximately 1,700 hours. Highly regarded M&A expert Carlos Mello leads the team, which includes Mirella Abe, Christiano Rehder, managing partner Rodrigo Junqueira and Sérgio Machado, who has vast experience in cross-border private equity, public M&A and special situations transactions. André Calumby is noted for his ‘strong technical knowledge and availability to search for solutions‘, Christian Roschmann for his ‘great negotiation skills‘. M&A and private equity partner Gonçalo Godinho and senior associate and capital markets expert Fabiane Ortiz also receive praise. In recent developments, André Ziccardi de Carvalho and Marcelo Tourinho were promoted to partner, Alessandra Cony Siniscalchi was promoted to counsel, while Jorge Kou joined the firm from Vella Pugliese Buosi e Guidoni Advogados in June 2021, and associate Gregory de Oliveira Campos joined in May 2021 from Gaia Silva Gaede Advogados.

The 'agile professionals' at Stocche Forbes Advogados are highlighted for their 'high technical knowledge'. Despite the Covid-19 crisis, the corporate and M&A team has remained busy, acting for buyers and sellers in significant transactions in the energy, retail, food and life sciences sectors, to name a few. Also of note is the firm's publicly listed company desk, which provides support to clients on corporate, capital markets and regulatory matters, while its private company desk provides advice on corporate deals and commercial agreements. The firm has invested in technology in order to enhance efficiency during legal due diligence processes; collaborating with a software development boutique, it has developed an AI solution, with software that can perform several of the most common steps needed in the due diligence process. Name partner André Mestriner Stocche, Fernanda Cardoso, Flavio Meyer and Fabiano Milani each draw on over 20 years working in corporate law. Other key practitioners in the department include Alessandra Zequi, who often works with listed companies and has strong knowledge of the Brazilian Securities and Exchange Commission (CVM) and São Paulo Stock Exchange (B3 – Brasil, Bolsa, Balcão) regulations, and Rafael Andrade. In recent developments, Emilio Gallucci, who has an active practice with private equity funds and companies in the energy sector, and Bruno Bercito, whose practice spans M&A and capital markets, were promoted to partner in January 2021, while Igor Finzi joined the firm in September 2021 from Machado Meyer Sendacz e Opice Advogados.

A 'first-rate team in diverse areas', Tauil & Chequer Advogados has cemented a strong reputation for M&A in the Brazilian market. Its extensive office network makes it well suited to handling cross-border transactions, and the firm is acknowledged as one of the best in Brazil for oil and gas-related deals. Its client base extends to include a broad range of corporations and funds operating in the IT, agribusiness, power and transport sectors, among others. The firm has adopted a number of structures and initiatives aimed at enhancing diversity and inclusion, including joining the Mansfield Rule Certification programme, which measures whether law firms have considered a minimum of 30% diverse candidates for senior roles. In terms of technology and innovation, in 2020, the firm adopted Luminance AI technology, a platform for the legal sector focusing on due diligence and document revision. Split between Rio de Janeiro and São Paulo, the corporate and M&A team is jointly led by Carlos Motta, Victor Galante and 'brilliant' name partner and oil and gas expert Alexandre Chequer. Active members of the department include Débora Yanasse, who receives strong praise for her extensive energy law expertise, 'great professional' Guilherme Tranquillini, cross-border M&A and restructuring expert Bruno Salzano and Daniella Raigorodsky Monteiro, whose broad practice sees her advising on M&A, corporate governance and contracts.

‘Fast, efficient and providing services with robust legal and business knowledge‘, Veirano Advogados‘ highly experienced corporate and M&A team is noted for its ‘pro-deal approach‘. A significant highlight in 2020 was its representation of Australia-based company Nufarm in the sale of all shares of its subsidiary in Brazil, Nufarm Indústria Química e Farmacêutica, to Sumitomo Chemical. The firm saw some personnel changes during 2021, with the departures of Carlos Lobo in January and Sergio Bronstein in April. However, its sizeable team – which is split between the São Paulo, Rio de Janeiro and Porto Alegre offices – remains busy, acting for major corporations and private equity clients in their operations and investments in Brazil. Names to note include Augusto Cesar Barbosa de Souza, Paula Surerus, Fernando Verzoni, Lior Pinsky, Alberto Bragança and Vanessa Felício (who made partner in January 2022), with key associates including Diego Yago Rodrigues. Another relevant feature of the firm is its social responsibility and pro bono programme, Veirano Transforma, launched in 2020, with social impact and diversity and inclusion initiatives considered key criteria in the selection of new projects. The firm’s D&I Committee, established in 2015, promotes internal and external actions, with an emphasis on gender, race and ethnicity (including its involvement in the Aliança Jurídica pela Equidade Racial and Incluir Direito projects), sexual orientation and LGBTQI+ (with recent highlights including its partnership with TransEmpregos), digital inclusion, social mobility and age. Since publication, Surerus has been appointed managing partner (effective January 2022), the first woman to hold the position in the firm's 50-year history.

Highlighted for its ‘excellent availability, innovative ideas, punctual delivery and prompt help‘, Campos Mello Advogados in cooperation with DLA Piper balances an active corporate practice, regularly providing advice to clients on mergers, acquisitions, reorganisations and joint ventures, with an emphasis on buy-side, mid-market M&A. Energy and oil and gas-related deals often feature in the team’s workload, though its expertise spans multiple sectors. The firm’s cooperation with DLA Piper and its extensive office network provides several benefits, including in the field of technology and efficiency, where the firm makes use of a number of programmes – including Kira Systems – to improve efficiency. In the area of diversity, the firm hired D&I company Tree Consultoria in 2020, and participates in a women mentoring programme. Senior partners Fabiano Gallo and Marcus Vinicius Bitencourt lead the team, which includes M&A, real estate and securities expert Fabio Perrone Campos Mello, Carolina Marcondes Sant’Angelo, who acts for household name companies on corporate and commercial matters, and associate Rodrigo Pires Mattos. The team expanded further in July 2021 with the hire of Oduvaldo Lara Júnior from Rolim, Viotti, Goulart, Cardoso Advogados. Since publication, Renata Amorim and Camila Caetano Cardoso were promoted to partner, announced December 2021.

With professionals who are ‘available and committed to obtaining the best transaction for the client‘, Cascione Pulino Boulos Advogados quickly established itself as a serious firm for M&A in Brazil. The firm stands out for the breadth of its expertise, which makes it a popular choice for clients – including major players in their respective sectors – in large deals, including in complex distressed M&A. Its sector specialisms are equally broad, with the team’s recent transactions involving companies in the financial services, healthcare, education and infrastructure industries, to name a few. Also of note is the firm’s activity in the start-ups space, particularly in deals involving fintech companies. The corporate and M&A group is jointly led by Eduardo Taleb Boulos and Milana Antoniolli Martins, each of whom have strong experience in M&A, joint ventures and reorganisations, as well as corporate disputes. Luiz Eduardo Malta Corradini and Guilherme Bertolini – who was promoted to partner in 2020 – are also noted. The team was further strengthened in September 2021 with the hire of company law and M&A specialist Brunno Morette from NBF|A - Neiva Barros & Figueiró, Sociedade de Advogados.

Huck, Otranto, Camargo Advogados stands out for its vast knowledge of technology and venture capital deals, areas in which the team remained busy during 2020. Elsewhere, the firm also maintains a broad practice, equipped to assist domestic and international companies in all phases of their life cycles, providing advice on sales, acquisitions, mergers and day-to-day corporate matters. Highly regarded senior partner Luis Gustavo Haddad and corporate, M&A, investment funds and securities law expert Bruno Robert lead the team, which includes M&A, corporate planning and succession expert Ana Carolina Barbuio Affonso, Carol Saposnic, Diego Billi Falcão and Fernanda Annenberg. The firm’s recently founded diversity committee is responsible for training staff and identifying measures to improve D&I; among its well-established initiatives is the firm’s mentoring and sponsorship of students from disadvantaged backgrounds at São Paulo universities. During the Covid-19 crisis, the team assisted Porto Seguro with a social programme that trains people who have lost their jobs or are struggling economically during the pandemic. Since publication: the firm endured a significant split in February 2022, with the departure of 24 lawyers to found HRSA; while the firm retains 47 attorneys, Haddad, Robert and Affonso have left the firm.

KLA Advogados is equally adept in M&A, corporate restructurings and non-transactional corporate matters, and the broad scope of its expertise ensures a constant flow of work. Recently, the firm has been particularly active in significant deals in the technology, telecoms, healthcare, food and beverage, retail and education sectors, where it acts for a large portfolio of clients, many of which have been working with the firm for more than a decade. With a strong commitment to pro bono work, the firm has had pro bono initiatives since its founding in 2002; this practice is coordinated by compliance expert Catarina Rattes. The firm’s focus on gender diversity is apparent through the strong representation of women partners in its corporate and M&A department, with female staff comprising over 50% of the firm’s total. Corporate and M&A specialist Karin Alvo has notable experience in the technology, telecoms and life sciences sectors; Melissa Kanô leads the firm’s Asia desk and has a particularly strong following in the advertising, food and clean energy sectors; Luiz Filipe Aranha‘s broad practice takes in M&A, private equity and venture capital investments and commercial contracts; and Mariana Cortez is particularly prominent in real estate and education-sector deals. Other names to note include Alessandra Höhne and Fernanda Levy. In significant developments in October 2021, key practitioners Patrícia Braga, Mário Fioratti and Laura Cossi were promoted to partner, while Tania Liberman left the firm.

'Highly specialised in corporate, capital markets and international transactions', Pinheiro Guimarães has a longstanding reputation in the Brazilian market, cemented through its involvement in high-end transactions, particularly those involving major private equity funds or financial services companies. M&A, finance and capital markets expert Plinio Pinheiro Guimarães Neto heads the Rio de Janeiro office, while Francisco José Pinheiro Guimarães, whose expertise is equally broad, leads the São Paulo office. 'Excellent negotiator and strategist' Marcelo Lamy Rego and Mariana Jost, who is highlighted for her 'knowledge of CVM rules and extensive experience in capital market operations', are key practitioners, as are René Mostardeiro Brunet, Maria Amélia Lisbão Senra and Ana Carolina Cassins Galdino. The firm has several internal committees, including committees focusing on diversity and social responsibility, and continuing development. The firm's pro bono work falls within the remit of the former committee; a particular focus is its support of Instituto da Criança, which manages private sector investment in several projects in Brazil, with an emphasis on education. Following its partner promotion round in January 2021, the firm counts 40 partners, of which 18 are women.

Vella Pugliese Buosi e Guidoni Advogados combines ‘solid legal knowledge‘ with ‘an excellent understanding of the business context‘. A distinguishing feature of the practice is its track record in private equity deals; in this field, the firm counts leading Brazilian and international private equity funds among its clients. Its varied client base also includes significant names in the energy, healthcare and financial services sectors, among others. Through its strategic alliance with Dentons, the firm has access to an extensive office network that makes it well placed to advise on cross-border transactions. Its association also gives the firm access to NextLaw Labs, a collaborative innovation platform focused on developing and implementing new legal tech. Its Brazil-based lawyers are also involved in a number of D&I initiatives at a global level; Bruna Gobbi and Gabriella Maranesi Najjar‘s involvement in the broader firm’s networking and mentoring programme, WomenLead, is one example. In addition to gender, other key pillars for the firm’s extensive D&I Committee include LGBTQIA+, race and persons with disabilities. Founding partners Rodrigo Vella and Frederico Buosi lead the team; Denise Chachamovitz Leão de Salles and associate Natália Brassaloti is another key contact. Associate Jorge Kou left the firm in May 2021.

The highly experienced corporate and M&A lawyers at Araújo e Policastro Advogados ‘go beyond what is asked of them, explore all ideas and seek the most appropriate solution for the business‘. The firm has an impressive track record in significant mergers and acquisitions, regularly receiving instructions from its well-established client base, and it complements its M&A offering with additional knowledge of tax, wealth and succession planning and labour law, among other areas. Several of its corporate lawyers are also involved in pro bono work, providing support to Associação Cairuçu, Instituto Saúde e Sustentabilidade and Instituto Mahle, in addition to GRAAC – Grupo de Apoio ao Adolescente e à Criança com Câncer and other charitable causes. Among its diversity initiatives is its participation in Movimento Mulher 360, which promotes gender equality and women empowerment in the corporate environment. Clients highlight the ‘personal involvement and understanding‘ of founding partner Theodoro Araújo in relevant deals. The highly regarded Camila Araújo and José Paulo Bueno also jointly lead the team, which includes Tania Mara Ferreira and Fernanda Pereira Leite.

With broad geographic coverage and a strong presence in both São Paulo and Belo Horizonte, Azevedo Sette Advogados has a varied and active corporate and M&A practice. Major blue-chip companies operating in the region turn to the team, which has recently been especially active in deals in the healthcare, energy, infrastructure and natural resources industries, acting on both the buy and sell side. Corporate reorganisations, commercial agreements and regulatory matters are also areas of strength for the department. Senior partner Fernando Azevedo Sette and Luiz Augusto Azevedo Sette, who draws on his former experience as general counsel for Microsoft, jointly lead the team. Ana Paula Terra Caldeira, Frederico Bopp Dieterich, M&A and capital markets expert Alessandra Martins de Souza, who made partner in 2020, and Luís Ricardo Miraglia, who is particularly active in the energy and mining sectors, are also names to note. Eleonora Santiago Carneiro Quadro joined the firm from Portela, Lima, Lobato & Colen Advogados in August 2021.

‘Commitment, respect, determination, firmness and agility‘ characterise the corporate and M&A team at Felsberg Advogados, which balances a broad and active practice, with recent work spanning complex M&A, corporate restructurings and other corporate and commercial matters. The broader firm’s prominence in restructuring and insolvency means that its corporate department is particularly well placed to advise on distressed M&A. Also of note is the department’s innovation, start-ups and venture capital sub-group, which had a busy year in 2020, advising investors and start-up companies on investment rounds and other matters. Gender diversity is another important feature of the firm, which has a high proportion of female partners. Its DiversiFeA committee focuses on equality, diversity and inclusion at the firm, which also participates in the Aliança Jurídica para Equidade Racial. On the pro bono side, partners and associates at the firm support a number of organisations, including Associação Vaga Lume (which empowers children in rural areas in the Amazon through promoting reading and community libraries), Instituto Fashion Revolution Brasil and autism and learning difficulties organisation Projeto Amplitude. Highly regarded partners in the sizeable team include Claudia Maniaci, Miriam Machado, João Carlos Mendonça, Evy Marques and Maria Carolina Guazzelli. Names to note at the associate level include Matheus Cestari Mota, Bárbara Nátali Santos, Lucas von Wieser Ruggeri and Gleycon Jonathan Queiróz. Since publication, Mirella Kaufmann was promoted to partner, in January 2022.

The 'very skilled and creative team' at Abe Giovanini Advogados is highlighted for its 'extensive negotiation skills' and its 'ease in dealing with complex issues and with complex clauses'. The firm has a strong profile in mid-market M&A, and has recently been particularly active in deals in the agribusiness, technology and education sectors. Marcos Seiiti Abe's 'reputation for ethics and strategic vision precedes him'; in addition to his broad corporate and M&A practice, he also leads the firm's D&I awareness programmes. Flavia Cantinho Pinheiro and Daniel Afonso Franzin, key members of the corporate and M&A team, coordinate the firm's pro bono projects, where they work alongside other lawyers in the team to provide corporate, tax and labour law advice to social enterprises and not-for-profit organisations. Other key practitioners include Fernando Zanotti Schneider, 'strategist and innovator' Renato Giovanini Filho, William Joji Nakasone and Marcela Rocha Maroccola.

With 'quality, clarity, precision, timeliness and availability', CGM Advogados has established a solid corporate and M&A practice which continues to see growth. Its recent work spans M&A, corporate reorganisations and corporate governance projects, where it works for a portfolio of well-known companies operating in a broad range of sectors. The firm also works with a number of non-profit organisations, and provides assistance on a pro bono basis to an organisation that supports microentrepreneurs. The highly regarded Adriano Chaves often works with e-commerce and fintech companies, and complements his corporate and M&A practice with extensive knowledge of data protection and privacy. He jointly leads the practice with co-founding partner René Gelman, whose broad corporate practice sees him working a diverse range of deals. Associates Marcia Mandelbaum and Camila Magami Cardinale are also noted.

'A very responsive team with a great understanding of the clients' needs', Dias Carneiro Advogados maintains an active corporate and M&A practice, acting on significant acquisitions, mergers, joint ventures and reorganisations, in addition to assisting clients in day-to-day corporate matters. The team has recently been particularly active in the renewable energy and technology sectors, though its broad practice also sees it working on a range of deals beyond these sectors. The firm's diversity committee organises roundtable talks on relevant D&I issues, and the firm supports a number of projects and organisations, including Incluir Directo and Best Buddies Brasil, a non-profit that promotes the social inclusion of people with intellectual and developmental disabilities. The department has seen some changes, with the arrival of corporate, M&A and debt restructuring expert Paula Seabra Carvalho Reis in May 2020 and the departure of Eduardo Zilberberg in April 2021. Artur Fernandes Andrezo has notable experience in large M&A and private equity deals; Débora Trovões Cabral is a key contact at the associate level.

Fielding a team of ‘excellent professionals‘, FreitasLeite Advogados acts for banks, investment funds and private equity firms, publicly traded companies and family-owned business in M&A, and also provides assistance in day-to-day corporate matters. The firm’s additional expertise in capital markets is of benefit in deals involving listed companies and those with relevant CVM regulatory aspects. The department is jointly led by Rio de Janeiro-based Pedro Afonso Gutierrez Avvad, who draws on over 20 years of experience in corporate and M&A, corporate governance, restructuring and M&A expert Claudio Fabricio Lima in São Paulo. Associate Joaquim Chacur Mano is a key member of the team. João Pedro Barroso do Nascimento left the firm in November 2020.

With an emphasis on mid-market M&A, both domestic and cross-border, Gasparini, Nogueira de Lima e Barbosa Advogados continues to expand its client base, and has particular experience in the technology, manufacturing, agribusiness and retail sectors, among others. The team also advises companies on corporate restructurings, corporate governance and commercial contracts, in addition to acting for individual clients. The department is jointly led by Marcus Phelipe Barbosa de Souza and Felipe Mavignier, who each draw on over 20 years of experience in corporate and M&A, and Paula Taira Horiuti, a corporate and commercial contracts expert who was promoted to partner in January 2020. Associate Débora Cunha Romanov is an active member of the team. Since publication, the firm has expanded in several areas, including with the arrivals of Desire Tamberlini Campiotti Pajola in energy and electricity, and Guilherme Dantas in corporate and competition law.

Highlighted for the 'precision and depth of information provided to the client, cordiality and agility', Machado Associados is 'always well aligned with the demands of the client'. The corporate and contracts department has four main pillars, covering: M&A; corporate structuring and restructuring; non-transactional corporate matters; and contracts. The firm, which celebrated its 30th anniversary in December 2020, is also a co-founder and member of the Lataxnet network of corporate and tax firms in Latin America, which is of benefit in the firm's cross-border mandates. In addition to its own Machado Solidário campaign launched during the Covid-19 pandemic to encourage food donations for people in need, the firm also participates in a number of external social initiatives, including supporting Casa 1, a cultural centre and shelter which welcomes LGBTQ+ young people who have been expelled from their homes. Mauro Takahashi Mori is noted for his 'extreme dedication to cases and excellent technical training'; he heads the department, which includes key partners Rochelle Ricci, Mirella da Costa Andreola de Almeida and Caio Fink Fernandes.

Madrona Advogados maintains a busy and buoyant corporate and M&A practice, which is regularly sought by its clients for representation on the buyer and seller side of relevant domestic and cross-border transactions. Recently, this has included a number of acquisitions in the healthcare, agribusiness and technology sectors, though its broad expertise also extends beyond these sectors. In addition to their corporate and M&A practices, Milena Coimbra Mazzini and Nair Veras Saldanha also chair the firm’s diversity committee, which aims to transform the firm’s practices to reduce social inequality regarding gender, age, disabilities and race into policies and actions. Pro bono is another relevant component of the firm’s work; for example, corporate and M&A partner José Luis Camargo and labour law expert Priscilla Caldeira Carbone have provided assistance to Associação Maria Helen Drexel, a non-profit that helps children and adolescents whose rights have been threatened or violated. Other key contacts in the corporate department include Ricardo Madrona, Luciana Renouard and Danilo Mininel. The department was strengthened further in August 2021 with the arrival of Luciana Felisbino from Martinelli Advogados.

The 'agile and highly qualified team' at Mundie e Advogados provides 'creative solutions to meet the expectations of the client in an efficient manner'. The firm has established a strong reputation for regulatory matters, and as such its corporate and M&A department is well equipped to advise clients in highly regulated sectors. Rodolpho Protasio has led on a number of major, high-end deals, and complements his M&A practice with additional expertise in private equity, infrastructure and project finance. He jointly heads the corporate department with the 'technically impeccable' Eduardo Zobaran, whose practice spans corporate, finance and civil law, and who coordinates the firm's pro bono work for the IDDD - Institute for the Defense of the Right to Defense. Ana Cristina Moraes and associates Danusa Pereira Fernandes, Cesar Augusto Rodrigues de Carvalho and Paulo Inácio Calandrino are also noted.

'Agile, sophisticated and pro-deal', Peixoto e Cury Advogados' corporate and M&A professionals have significant international experience, which is of benefit in the department's cross-border mandates, particularly those involving the US. With an emphasis on mid-market M&A, the team often advises mid-size and family-owned businesses, with recent deals involving cosmetics, advertising and food-sector clients, among others. A signatory to the UN Women’s Empowerment Principles, the firm has launched a number of actions and policies to support women and parents. The firm is also a member of Instituto Pro Bono; Claudia Soares Garcia (who is highlighted for her 'deep knowledge of M&A'), has provided pro bono support for the incorporation of Coletivo Mulheres Jornalistas (Female Journalist Association). Also receiving praise are José Ricardo de Bastos Martins, Rafael Villac Vicente de Carvalho, who is qualified in Brazil and New York, Renato de Oliveira Valença and associate Bernardo Coelho Rezende Vieira.

The highly regarded corporate and M&A department at Rayes & Fagundes Advogados Associados fields 'reliable partners' who are noted for their 'dedication' and 'personalised service'. The well-established team has a particularly strong following in the technology and pharmaceutical sectors, and continues to expand its already extensive client base with new clients in these and other industries. The firm hired Olivia Andrade in early 2020 to develop its corporate social responsibility programme, and further expanded its pro bono policy during 2021. Corporate restructurings, M&A and domestic and international contracts expert Fabiana Rodrigues da Fonseca and Paulo Talarico, who advises on domestic and cross-border transactions, lead the team. Carolina Taunay Joop, Ludmila Passos Holtz, Felipe Mutti Monteiro and Suzi Yoshimoto are key contacts at the associate level.

Wongtschowski Kleiman Advogados ‘stands out for its dedication and personalised service‘. The firm is also noted for its ‘commitment to ethics and governance‘, as illustrated by its certification as a B Corporation, as well as its Verified Carbon Standard certification as carbon neutral. In addition to its social, cultural and sustainability initiatives, the firm also has a focus on technology and innovation, and uses the TOTVS lawsuit monitoring system for the provision of managerial reports containing tailored information on lawsuits and risk assessments. Well-regarded partner Domingos Refinetti is a name to note. Since research concluded, however, the firm’s former corporate and M&A experts now practice at other law firms. In April 2021, Alexandre Zanotta and Carolina de Mattos Pacheco left for one firm, Luiza Ozores Igel and Bruno Zampieri Frederico Ottoni left for others, while Tiago Bonatti Peres set up his own firm.

'Investment in innovation, new ideas and markets has always been the hallmark' of Almeida Advogados, which has a sizeable corporate, M&A and contracts team handling a range of large transactions and non-transactional advisory work. Of particular note is the firm's track record in representing minority shareholders of major Brazilian corporations, and its client base also extends to include domestic and international companies. October 2020 saw the departure of Leonardo Palhares to Kobre & Kim, though the firm has made hires at the associate and senior associate levels. The highly regarded André de Almeida leads the team, with other key practitioners including Guilherme Doval, Pedro Tinoco and Leonardo Barém Leite.

The corporate and M&A department at Bocater, Camargo, Costa e Silva, Rodrigues Advogados is highlighted for its 'seniority, great experience and great competence'. With broad expertise, the team can often be found advising on large deals and non-transactional corporate matters. Securities regulation is a standout area of expertise for the firm, with much of the team drawing on valuable previous experience working at the Brazilian Securities and Exchange Commission (CVM). For example, Maria Isabel Bocater is a former director of the CVM; she specialises in corporate law and capital markets. Other names to note include Francisco da Costa e Silva, João Laudo de Camargo, Luiza Rangel de Moraes and Bernardo Costa e Silva.

With a long history in the Brazilian market, Castro Barros Advogados has developed notable expertise in the corporate area. Recently, it has assisted in a number of corporate restructurings, investments and acquisitions, and it is also equipped to advise on non-transactional corporate and commercial matters. In the context of the Covid-19 pandemic, the firm joined and advised Covid Radar, a group of companies organised to face the challenges brought by the virus in Brazil. Highly regarded corporate partner Helen Valente Figurelli 'always proposes great solutions'. Other standout partners in the team include corporate, competition and regulatory law expert Anna Cecilia Rostworowski da Costa Buff and corporate, M&A and project finance specialist Guilherme Tepedino Hernandez. Fernanda Alves Wolf left the firm in March 2020 to join Abril Comunicações.

Longstanding clients continue to turn to the sizeable team at DDSA – De Luca, Derenusson, Schuttoff e Azevedo Advogados for assistance in transactional and non-transactional corporate matters, and the team has also recently won a number of new clients. In addition to its active corporate and M&A practice, the team – from interns to partners – is also involved in pro bono work, with the firm devoting around 80 hours to pro bono matters per month. Guilherme Filardi and João Claudio De Luca Junior, who act for national and international companies from a broad range of sectors, jointly lead the team. Associate Yasmin Neves is also a key contact. Since publication, Ettore Botteselli left the firm, in November 2021.

A broad range of leading domestic and international companies turn to the corporate and M&A department at Loeser e Hadad Advogados, which is led by M&A and international business reorganisations expert Enrique Tello Hadad. Despite the Covid-19 crisis, the team has remained active, recently advising both buyers and sellers on a number of relevant transactions. Corporate governance, compliance and commercial agreements are other areas of expertise. Also of note is the firm's pool of talented associates, including Fernanda Nakada and Ligia Pereira, who 'always bring solutions in sensitive matters'. Richard Blanchet left the firm in January 2021.

PGLaw impresses with its 'high technical level' and 'serious and responsible advice'. The boutique firm was established in 2014 and since then has built a buoyant and varied practice, recently advising on corporate reorganisations, sales, acquisitions, incorporations and matters before the CVM. Its Ethics and Diversity Committee is also well established, with responsibility for diversity training and the development of programmes and policies in addition to socio-cultural activities. Founding partner Carlos Portugal Gouvêa leads the corporate and M&A department and complements his knowledge in this area with expertise in compliance, corporate governance and commercial litigation. Caio Henrique Yoshikawa, Rodrigo Fialho Borges and João Paulo Braune Guerra are key contacts at the associate level.

The 'very prepared and experienced' corporate and M&A specialists at RZ Advogados 'stand out for their dynamism and knowledge, which leads to agility and assertiveness in decision making'. Brazilian and international companies operating in a range of sectors - including ports, agribusiness and retail - seek the team's advice in complex corporate matters. The firm also encourages its team to assist in its pro bono support of the Projeto Canelinhas, based in Cidade de Deus, Rio de Janeiro, which provides healthcare, sport and cultural activities. Mauricio Jun Higashino has over 18 years of experience in corporate, M&A, contracts and succession planning; he leads the practice and receives strong praise from clients. Christian de Lima Ramos and associates Fernanda Aires and Clarissa Novaes are also key contacts.

Siqueira Castro – Advogados is well versed in M&A and non-transactional corporate matters. With an extensive office network, the firm stands out for its geographic coverage, which is of particular benefit in deals that take place outside of São Paulo or Rio de Janeiro. The firm also remains active in pro bono work, where it provides around 80 monthly hours and maintains partnerships with a large number of non-profit entities. Sérgio Ricardo Fogolin has a broad practice taking in M&A, litigation, compliance, contracts, capital markets and real estate and is ‘always looking for the best and fairest solution'. Leonardo Cotta Pereira left the firm in December 2020, and Guilherme Dantas left in January 2022.

Souto Correa Advogados balances a busy corporate and M&A practice, which has recently advised on relevant deals involving technology, renewable energy and food sector companies, among others. Often working alongside colleagues in the restructuring, real estate, timberland and agribusiness departments, the team offers a broad service, advising on transactions and commercial agreements. The firm has a strong base in Porto Alegre, where many of its key lawyers are based; names to note in São Paulo include Clarissa Yokomizo and associate Martha Giugno Termignoni, while associate Silvia Pupo is a key contact in Rio de Janeiro. Porto Alegre-based corporate and M&A experts Rodrigo Tellechea and Gilberto Deon Corrêa Júnior lead the department, with Raquel Stein another name to note. The department also expanded in July 2021 with the hire of Mauricio Paschoal from Lefosse Advogados.

The ‘agile and creative team‘ at Souza, Mello e Torres is equipped to advise on high-value M&A, where it has a particularly good track record in the healthcare, logistics, telecoms and technology industries. Key practitioners in the team include M&A, private equity and corporate governance experts Carlos José Rolim de Mello and Natália Teixeira Rabaça, whose practice also encompasses capital markets; M&A and project finance partner Clovis Torres, who draws on former experience as chief compliance officer and general counsel at Vale; and Alexandre Simões Pinto, who has impressive experience advising well-known companies in major deals. Associate Pedro Henrique Souza de Oliveira is also an active member of the team. Patricia Eid left the firm in June 2021.

Ulhôa Canto, Rezende e Guerra Advogados has a good track record assisting companies and investors in M&A, and also advises clients on corporate reorganisations and corporate governance. Marcelo Maria Santos, Aloysio Meirelles de Miranda Filho and Guilherme Rocha Murgel de Rezende are key contacts. Pedro Chueiri left the firm in April 2021.