BMA - Barbosa, Müssnich, Aragão > Brasilia, Brazil > Firm Profile

BMA - Barbosa, Müssnich, Aragão

Brazil > Competition and antitrust Tier 1

With a well-established reputation in competition and antitrust, BMA – Barbosa, Müssnich, Aragão is a popular choice for leading Brazilian and international companies operating in a wide range of sectors, from life sciences to aviation to technology. The firm’s leading position in the M&A market is of note; the competition department is regularly instructed in complex cross-border merger review cases. In addition to obtaining antitrust clearance for large-scale corporate transactions, the team is also well versed in CADE investigations into potential cartels, unilateral conduct and bid rigging. Outside of handling headline-grabbing cases, its lawyers also advise clients on the competition risks in day-to-day conduct and on designing and implementing compliance programmes. The department is ably led by well-known competition expert Barbara Rosenberg, and also includes highly regarded partners José Inacio Ferraz de Almeida Prado Filho and ​​Camilla Paoletti. Combining expertise in competition and data protection, Luís Bernardo Cascão is particularly strong in antitrust matters involving technology and digital companies.

Practice head(s):

Barbara Rosenberg


Excellence from the partners and team.’

Camilla was always very responsive and cost efficient.’

Quick reaction and clear advice.’

José Inacio Almeida Prado Filho is recommended.’

Key clients



AB InBev






LATAM Airlines


Work highlights

  • Assisted Adtalem in obtaining antitrust clearance in Brazil of the sale of its Brazilian activities in the educational sector to Estácio Participações.
  • Assisted DuPont in obtaining antitrust clearance in Brazil of the proposed acquisition of sole control over its Nutrition & Biosciences business by International Flavors & Fragrances.
  • Assisted EssilorLuxottica in obtaining merger control clearance in Brazil for its intended global acquisition of GrandVisio, both major players in the optical industry.

Brazil > Corporate and M&A Tier 1

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.

Practice head(s):

Francisco Müssnich; Paulo Cezar Aragão; Plínio Barbosa; Luiz Antonio Campos


Very good technique, superb towards the client.’

Ana Paula Reis is recommended.’

Key clients


B2W – Companhia Digital

AES Tietê Energia

AES Holdings Brasil II

Sul América

Adtalem Global Education



AALU Participações e Investimentos

XP Vista Asset Management

PJus Investimento em Direitos Creditórios


Grupo de Moda Soma

Maria Filó Modas

Dynamo Gestão de Recursos


The Travelers Inc

Work highlights

  • Advised AES Tietê Energia in the defence against the hostile takeover by Eneva.
  • Advised Sul América on the sale of its auto and other property and casualty insurance business, by means of the formation of a new insurance company focused on these lines to be acquired by Allianz.
  • Advising Adtalem Global Education on the sale of 100% of Adtalem Brasil Holding to Sociedade de Ensino Superior Estácio de Sá.

Tax > Customs Tier 1

Brazil > Banking and finance Tier 2

'Combining legal knowledge with a practical view of the business', BMA - Barbosa, Müssnich, Aragão has a strong track record in complex financings, particularly for major corporate borrowers. Acquisition financings feature prominently on the firm's workload, although in the past year the firm was also heavily active on the debt restructuring side, both for creditors and debtors. The team also has strong relationships with the banks for distressed debt deals. Camila Goldberg leads the team, with support from Rafael Dutra, who is particularly experienced on the project finance side. Recently promoted partners Conrado de Castro Stievani and Felipe Prado are both experienced in debt capital markets and structured finance.

Practice head(s):

Camila Goldberg


‘The firm combines the legal knowledge with a practical view of the business, contributing with effective proposals that are usually easily implemented.’

‘Extremely sophisticated firm, demonstrating a high understanding of the complexities of the local legal setting.’

‘BMA carries out its activities with quality, always respecting the deadlines indicated. It provides good time and human resources, and a clear and organized working methodology.’

‘Camila Goldberg – extensive knowledge of banking law and knowledge of the business.’

Key clients

BHP Billiton

XP Investimentos

Banco BTG Pactual

Agence Française de Dévéloppement

Centerbridge Partners LP

Quadra Capital

Prisma Capital



Leste Global Investments

Enforce Gestão de Ativos

Work highlights

  • Represented Banco BTG Pactual and Enforce Gestão de Ativos in the acquisition and securitisation of R$2.9bn of non-performing loans (NPLs) originally held by Banco do Brasil against its clients.
  • Represented Magnamed Tecnologia Médica in a transaction with the federal government for the supply of  lung ventilators for treating Covid-19 patients in intensive care.
  • Represented Agence Française de Dévéloppement in all Brazilian law aspects of a €200m credit facility to the Federative Republic of Brazil, to help finance governmental emergency aid programmes.

Brazil > Capital markets Tier 2

BMA - Barbosa, Müssnich, Aragão's well-regarded team had another busy year on the equity capital markets front. The firm regularly represents both issuers and underwriters, and the team's transactional expertise goes hand-in-hand with its regulatory experience and strong connections to the Brazilian Securities Commission (Comissão de Valores Mobiliários – CVM). Cross-border expertise is another key differentiator for the team, which regularly provides advice on CVM and SEC-registered equity offerings. The team's multi-jurisdictional credentials extends to the debt side, and its lawyers were involved in several multimillion-dollar issues on the international markets in 2020. The highly experienced Camila Goldberg leads the team, which includes the 'professional, agile and technically excellent' Jane Goldman and recently promoted partners Felipe Prado and Conrado de Castro Stievani.

Practice head(s):

Camila Goldberg


‘A highly trained team specialized in investment funds.’

Exceptional team (Camila Goldberg).’

The capital market team is excellent. Jane Goldman Nusbaum is a differentiated professional, agile, technically excellent, objective, always available and leads her team very well.’

Availability, proposition of solutions, pro deal.’

‘Jane Goldman delivered high quality work and is always available to talk.’

Felipe Prado is recommended.’

Key clients

Banco BTG Pactual

XP Investimentos Corretora de Câmbio, Títulos e Valores Mobiliários

Banco Safra

Bank of America Merril Lynch Banco Múltiplo

Lojas Americanas

B2W – Companhia Digital

CSN – Companhia Siderúrgica Naciona

Santos Brasil Participações

Creditas Soluções Financeiras

Rio Bravo Investimentos DTVM

Cury Construtora e Incorporadora


Bemobi Mobile Tech

GTIS Partners

Work highlights

  • Advised XP Investimentos Corretora de Câmbio, Títulos e Valores Mobiliários, Banco BTG Pactual, Banco Itaú BBA and Genial Investimentos Corretora de Valores Mobiliários on the R$690m IPO of 3R Petroleum Óleo e Gás.
  • Advised Lojas Americanas on its R$7.8bn public offering of new common shares and preferred shares.
  • Assisted XP Investimentos Corretora de Câmbio, Títulos e Valores Mobiliários, Banco Itaú BBA, Banco Safra and Banco BTG Pactual on a R$1.08bn issuance of Agribusiness Receivables Certificates by True Securitizadora.

Brazil > Dispute Resolution: Arbitration Tier 2

With strong credentials in domestic and international arbitration, BMA - Barbosa, Müssnich, Aragão is singled out for its impressive track record in M&A-related proceedings. The team continues to handle a high volume of cases before leading arbitration chambers, demonstrating particular experience in high-value disputes involving construction contracts, infrastructure projects, real estate acquisitions and shareholders' agreements, among others. Besides often acting as lead counsel to high-profile clients in major arbitrations, the firm's practitioners are also nominated as arbitrators in cases, especially those concerning commercial disputes and sports law. Pedro Oliveira da Costa, who combines litigation and arbitration experience, jointly heads the department with André Abbud, who is widely recognised in international arbitration. Francisco Müssnich has a strong background in M&A and is also noted for his proficiency in domestic and cross-border arbitration. Commercial disputes before Brazilian and international arbitral tribunals are also key areas of activity for Gustavo Santos Kulesza.

Practice head(s):

Pedro Oliveira da Costa; André Abbud


‘Excellent synthesis capacity. Creative and proactive team. Excellent legal service.’

‘André Abbud is an excellent speaker and very intelligent. Gustavo Kulesza works hard and is creative.’

Brazil > Intellectual property Tier 2

BMA - Barbosa, Müssnich, Aragão's IP practice assists media, entertainment, consumer goods, retail and luxury product companies with trade secret issues, copyright matters, compliance and infringement claims. A robust trade mark prosecution, enforcement and opposition offering is provided to the firm's multinational client roster, which features names from the agritech and life sciences sectors. Practice co-head Antonella Carminatti advises on all aspects of intellectual property, but is particularly adept at assisting with portfolio management, transactional work and licensing mandates. The patent and industrial design group is led by Ana Müller, who is regularly retained by start-ups and multinational corporations involved in patent litigation. Pedro Frankovsky Barroso is noted for his IP litigation expertise, while Pedro Tavares is praised by clients for accurately 'predicting outcomes of trade mark filings and oppositions'.

Practice head(s):

Antonella Carminatti; Ana Müller; Pedro Frankovsky Barroso


‘The practice is very much in line with the way our Legal Department works.  Pedro Barroso and Antonella Carminati are great.’

‘Pedro Tavares is very responsive and very accurate in predicting outcomes of trademark filings and oppositions.’

Key clients

Amázzoni Gin

Universal Music

Netflix Entretenimento Brasil

American Airlines



Seattle’s Best Coffee

L’Oréal Brasil



Work highlights

  • Represents American Airlines in an opposition proceeding before the Brazilian Patent and Trademark Office against the application for ADVANTAGE VIP LOUNGE mark.
  • Represents L’Oréal Brasil in an unfair competition lawsuit against a Spanish cosmetics company.
  • Represents SEGA in an image rights case started by more the 300 football players against SEGA’s famous fantasy game Football Manager.

Brazil > Real estate Tier 2

BMA – Barbosa, Müssnich, Aragão has made strong inroads into the Brazilian real estate market, where it offers expertise on major industrial, logistics, retail, residential and commercial office deals and development projects. Client’s benefit from the vast experience of Cristiana Moreira in Rio de Janeiro, who is especially strong on the transactional and development side, and São Paulo’s Cristiane Mamprin, who brings considerable corporate knowledge, particularly on related joint ventures and fund structures. Guilherme Zoghbi Ayala is noted for his transactional and tax advice. Maria Eduarda Bérgamo left the firm in June 2021.

Practice head(s):

Cristiana Moreira; Cristiane Mamprin; Guilherme Ayala


‘Highly qualified and trained staff. They know how to deal very well with complex issues and have high competence in the negotiation.’

‘The firm provides a good full service with qualified professionals.’

‘The BMA real estate team, led by Guilherme Ayala, is competent, hands-on and accessable. It is a team that seeks to understand in detail the problems of its clients, providing creative and at the same time objective advice.’

Cristiana Moreira and Camila Mallet: Dedication, depth, business oriented.’

‘Guilherme Ayala is a very distinguished professional, not only for his professional competence and technical knowledge, but also for his dedication, humility and easy communication.’

‘Cristiana Moreira – exceptional lawyer, works with mastery. Full knowledge of the law and knows how to conduct the operations very well. Complete. Cristiane Mamprim – excellent lawyer, very good negotiator, charisma and a great real estate knowledge.’

Key clients

BTG Pactual

RB Capital

Goodman Group

Rio Bravo Investimentos


GLP – Global Logistic Properties


Confederação Brasileira de Futebol

BHP Billiton

XP Investimentos


Vinci Partners

Tenda Negócios Imobiliários


São Carlos Empreendimentos e Participações

Core Real Estate


Work highlights

  • Assisted real estate funds managed by BTG Pactual on the R$1bn acquisition of EZTB Fundo de Investimento Imobiliário, owner of EZ Towers Building, a commercial building in São Paulo.
  • Advised Atacadão in the R$1.95bn acquisition of 30 cash and carry stores (including the ownership of 22 and rental of 8) and 14 gas stations operated by Makro in 17 Brazilian states.
  • Advised XP Investimentos on the acquisition of an area owned by JHSF with approximately 705,000sqm located in the Parque Catarina complex (São Paulo), where the Bioma XP project  will be developed.

Brazil > Restructuring and insolvency Tier 2

BMA – Barbosa, Müssnich, Aragão has represented the debtors in some of Brazil’s largest restructuring and insolvency proceedings in recent years. Its advice to Queiroz Galvão Energia, Oi and Sucden do Brasil are demonstrative of the firm’s capacity to handle high-profile bankruptcy claims, as well as non-judicial restructurings. The firm has built up an especially strong reputation for bankruptcy litigation, where partners such as Felipe Evaristo dos Santos Galea and Eduardo Guimarães Wanderley are particularly active. The versatile Sergio Savi has strong credentials both for contentious and non-contentious restructuring advice. Since publication, the department has been further strengthened by the arrival of Luciana Celidonio from Tauil & Chequer Advogados, in November 2021.

Practice head(s):

Sérgio Savi; Felipe Galea


Impressive restructuring team with deep knowledge of the Brazilian market and expertise in advising foreign investors in Brazil.’

Eduardo Guimarães Wanderley is recommended.’

Key clients

Queiroz Galvão Energia

Sucden do Brasil

Jive Asset Gestão de Recursos


Sul América Capitalização

Geyve Participações e Serviços Fiduciários


Multi-Rio Operações Portuárias

Credit Suisse Brazil (Bahamas)

Banco BTG Pactual

Work highlights

  • Co-advised Queiroz Galvão Energia (QGE) and advised Queiroz Galvão on judicial and extra-judicial proceedings, including all negotiations with QGE’s main creditors in parallel with Queiroz Galvão Group’s debt restructuring.
  • Acted as lead counsel to Oi in the biggest ever court-supervised debt restructuring in Latin America, involving more than 55,000 creditors.
  • Advising Sucden do Brasil as creditor on the bankruptcy liquidation proceeding of sugar/ethanol group Floralco, including litigating in the bankruptcy proceeding in order to enforce its collateral.

Tax > Tax advisory Tier 2

Tax > Tax litigation Tier 2

Tax > Tax advisory Tier 2

BMA – Barbosa, Müssnich, Aragão has broad tax expertise covering a range of contentious and non-contentious matters. The firm has invested significantly into the practice over the last decade, ensuring a strong flow of high-value, complex direct and indirect tax mandates, where it is trusted by clients across a variety of sectors. In tax litigation, clients particularly rate Lígia Regini da Silveira and Luiza Lacerda. The team is also especially strong on the transactional and structuring side, with partners such as Jose Otavio Faloppa and Hermano Notaroberto Barbosa having established good reputations. The firm’s customs and indirect tax practices were further strengthened in September 2021 with the arrival of Fabio Florentino, who has previous experience working in the Big Four. Daniel Abraham Loria left the firm in June 2021.

Practice head(s):

Lígia Regini da Silveira


‘The BMA Tax team provides a high quality service, both in the technical aspect and in the aspect of customer relationship.’

‘Professionals who can align technical and practical knowledge with a lot of customer focus. They seek to understand business and operations to be more assertive in the proposed solutions.’

‘Quick response, friendly relationship, and suggestions for unsolicited tax improvements.’

‘Ligia Regini – I have been working with her for years and I can attest to her high competence and ability to propose strategic solutions and that bring positive results to the customer. Proximity and good relationships are also great attributes of Ligia.’

‘Luiza Lacerda – Ability, flexibility, availability.’

Key clients

AES Tietê Energia

IRB Brasil Resseguros




Tereos Açúcar e Álcool


Cyrela Brazil Realty

EDP Energy




Aliansce Sonae





SPX Capital

Vinci Partners





Grupo Oggi

Covid Vaccine Alliance


Alpek – Styropek




Ultrapar and affiliates

AB Foods Brasil

Alper – Brasalpla

JCI – Johnson Controls



Work highlights

  • Advising AES Tietê Energia, China Three Gorges Brasil Energia, CPFL Energias Renováveis, EDP – Energias do Brasil, Elera Renováveis Participações, Enel Brasil, Engie Brasil Energia and Light in connection with the provisions of Law 14.052/20, which directly impacts all Brazilian hydropower plants.
  • Provided tax advice to Cosan on all aspects of its cross-border restructuring involving the merger of Cosan (a Bermuda company listed in NYSE) and Cosan Logística into Cosan S.A., which is aimed at simplifying the structure of the group.
  • Advised Compass on designing the entire national natural gas import and distribution structure in Brazil in 2020/2021 and the implementation of the São Paulo Regasification Terminal infrastructure project (TRSP), in the Port of Santos.

City focus - Brasilia > Litigation Tier 3

The Brasília-based disputes team at BMA - Barbosa, Müssnich, Aragão can regularly be found representing its diverse range of clients in cases before the Superior Court of Justice, Supreme Federal Court and Superior Labour Court. Benefiting from the firm's national presence and reputation, it is able to field cross-office teams to handle major disputes, with particular expertise covering anti-corruption, government contracting and administrative misconduct, among other areas. 'Exceptional technician' and practice head André Macedo de Oliveira is noted for his 'deep knowledge of federal institutions'. Giovani Menicucci, who provides 'simple and effective solutions for complex demands', and Sarah Roriz de Freitas are key associates in the team.

Practice head(s):

André Macedo de Oliveira


Personalised service, excellence and the ability to build solutions with differentiated technical quality within the scope of the higher courts, control bodies and in the Legislative and Executive Powers.

I would like to highlight the work of the lawyer Giovani Trindade Menicucci, for the excellent technical quality, the construction of simple and effective solutions for complex demands, and the speed and quality in handling with other teams in the office.’

André Macedo is an exceptional technician, with deep knowledge of federal institutions, which makes his performance of great value in the legal environment of Brasília.’

Key clients

Morocó Participações e Comércio

Airbnb Ireland UC


Companhia Siderúrgica Nacional

Peróxidos do Brasil

Magnamed Tecnologia Médica

TAM Linhas Aéreas S.A. (Latam)


Abengoa Construção Brasil


Delta Engenharia, Indústria e Comércio

Brasil Holanda de Indústria

Dataprom Equipamentos e Serviços de Informática Industrial

Copa do Mundo FIFA – Comitê Organizador Brasileiro (COL)

G4S Brazil Holding

Ibi Promotora  de Vendas

Energisa Tocantins Distribuidora de Energia

Work highlights

  • Assisting Airbnb in appeals before the Superior Court of Justice regarding the legality of its business model in Brazil.
  • Advised Magnamed on claims before the Federal Supreme Court regarding the acquisition of hospital supplies (lung ventilators) by Mato Grosso and Piauí during the Covid-19 pandemic.
  • Representing Nexans in a claim before the First Region Federal Court, aiming to annul a fine imposed by CADE for an alleged international cartel in the market for high voltage underground cables and high voltage and lower voltage submarine cables.

Brazil > Compliance Tier 3

BMA - Barbosa, Müssnich, Aragão maintains a varied compliance practice, regularly advising clients on corporate investigations, risk analyses and training. Administrative and judicial proceedings and asset recovery are also key areas of specialism for the team, which has recently acted for a range of new and longstanding clients. The multi-disciplinary team includes finance and corporate ethics specialist Anna Carolina de Oliveira Malta, José Guilherme Berman, who focuses on infrastructure and regulatory matters, and seasoned litigator André Macedo de Oliveira. The team also benefits from an experienced pool of associates, including Camila CuschnirLuis Marcelo Abdalla Jaued and João Bonvicino. In a significant development in June 2021, the practice received an additional boost with the arrival of compliance and criminal law expert Bernardo Weaver.

Practice head(s):

José Guilherme Berman; Anna Carolina Malta Spilborghs; André Macedo de Oliveira

Key clients

Carioca Christiani-Nielsen Engenharia

CBPO Engenharia

Litografia Valença

Jerônimo da Veiga Empreendimentos e Participações

RH Net Telecomunicações

The Hertz Corporation

Lanxess Indústria de Produtos Químicos e Plásticos

DOF Subsea Brasil Serviços

Tereos Internacional

Orquestra Sinfônica Brasileira – OSB

Associação Nacional dos Exportadores de Sucos Cítricos – CitrusBR

Work highlights

  • Defended CBPO in an administrative improbity lawsuit concerning the construction works for integration of lines 1 and 4 of Rio de Janeiro metro system.
  • Handles the defense of Litografia Valença, which operates in steel processing and metal packaging industries, in an administrative improbity lawsuit.
  • Handling the defense of RH Net Telecomunicações and its managing partner in a lawsuit filed by Brazilian Federal Prosecution service concerning environmental crimes.

Brazil > Dispute Resolution: Litigation Tier 3

BMA - Barbosa, Müssnich, Aragão fields a team of professionals specialised in the prevention and resolution of conflicts, who are equipped to assist clients engaged in corporate and civil disputes. With significant experience in administrative and judicial proceedings, the firm represents clients before state and federal courts. The team is also adept at handling cross-border matters, working alongside leading international firms. Restructuring and dispute resolution specialist Felipe Evaristo dos Santos Galea jointly leads the team with Pedro Costa, whose areas of expertise include infrastructure and corporate disputes. André Abbud is regularly instructed by clients operating in the energy, infrastructure, healthcare and agribusiness sectors. Rafael Castilho focuses on civil and commercial litigation.

Practice head(s):

Felipe Evaristo dos Santos Galea; Pedro Costa


‘The technical ability of the professionals, as well as their macro vision of the market in which our company operates stands out. They are always up to date, available, and provide accurate and direct opinions.’

‘The attention and involvement of the entire team is second to none. The case is still ongoing and from the beginning we felt very comfortable with all the care provided by the team. Their technical ability and the development of strategies are unique. They have a broad view of negotiations and proceedings, anticipating risks and developing innovative strategies.’

‘Felipe Evaristo Galea is one of the best lawyers in this area. His availability also sets him apart from others.’

Key clients

Usiminas Siderúrgicas de Minas Gerais – USIMINAS

Owens Corning Fiberglas


Lex Finance

Sul America Santa Cruz Participações

Galvão Engenharia


Bosan Participações

Latam Airlines Brasil

Airbnb Serviços Digitais

Work highlights

  • Represents Galvão Engenharia in a series of disputes arising from Operação Lava Jato and the subsequent decision made by Petrobras to terminate the contracts in progress for the construction of a fertiliser plant located in Mato Grosso do Sul.
  • Acts for Owens Corning Fiberglas in a lawsuit filed by a Brazilian company specialised in metallic roofing systems.
  • Represents Usiminas Siderúrgicas de Minas Gerais, one of the largest steel companies in Brazil, in a lawsuit related to an agreement entered into by the client and the largest supplier of industrial gas in Brazil.

Brazil > Environment Tier 3

BMA - Barbosa, Müssnich, Aragão brings together cross-practice expertise, covering M&A, tax, compliance and dispute resolution, to assist clients from a variety of industries facing environmental challenges. Its recent work illustrates the team's strength in environmental licensing, regulatory enforcement proceedings, contaminated sites and waste management. Advising on the implementation of business practices in compliance with ESG standards is also an area of expertise for the environmental team. Climate change and sustainability expert Marcio Pereira is regularly retained by energy, infrastructure and transport clients. He leads the practice with Beatriz Paulo de Frontin, who regularly acts for domestic and foreign companies in administrative and judicial litigation. Marina Maciel is also part of the core team; she excels in environmental licensing.

Practice head(s):

Marcio Pereira; Beatriz Paulo de Frontin


‘Excellent service. Márcio Pereira is phenomenal. He stands out for his versatility, deep knowledge of the subject and clients’ business.’

‘BMA’s environmental team provides an excellent service and has a very close relationship to the client. I can attest that, in addition to the delivery of high technical quality, the firm is always available for immediate assistance on the issues that arise, regardless of day or time. Finally, the experience of all the team members in the environmental area also gives us the assurance that the matter will be understood (regardless of complexity) and the final product will be delivered with the analyses of all requested points.’

‘I highlight Márcio Pereira, who is a true partner of our company and is always available to move his entire team to support us in the best possible way. In addition, I would also like to highlight Beatriz Paulo de Frontin, who is technically impeccable and always contributes positively in the meetings in which she participates, not limiting her inputs to legal issues, but to guidelines that have a broader look at the situation.’

Key clients


Abengoa Concessões Brasil Holding

São Gonçalo Energia e Gás Renovável

Ciclus Ambiental do Brasil

Ventos de Santo Artur Energias Renováveis

Cia Ultragaz

Lactalis do Brasil – Comércio, Importação e Exportação de Laticínios

New Hope Ecotech

PQ Silicas Brasil

Work highlights

  • Representing Vale in all actions, procedures and agreements aiming at the environmental remediation of the area affected by the dam collapse in Brumadinho, and in the execution of a comprehensive repair plan.
  • Providing legal advice to Abengoa Concessões Brasil Holding on the disinvestment and decommissioning of several transmissions lines, under different stages of environmental licensing proceedings.
  • Represents Ciclus, the concessionaire responsible for the final disposal of the waste generated in the municipality of Rio de Janeiro, in three public civil actions.

Brazil > Labour and employment Tier 3

BMA – Barbosa, Müssnich, Aragão has a balanced and versatile employment practice offering a broad range of litigation and advisory expertise. The team is regularly turned to by clients for individual and collective labour disputes, including public and civil claims, and is especially experienced representing clients in the energy, oil and gas, and shipbuilding industries. This extends to non-contentious support on union negotiations and corporate matters, including M&A and restructurings, as well as broader compliance, health and safety and risk management advice. The team is jointly led by well-regarded partners Cibelle Linero and Luiz Marcelo Góis. Associate Mariana Brassaloti left the firm in April 2021.

Practice head(s):

Cibelle Linero; Luiz Marcelo Góis


Quality service with business vision. Luiz Marcelo has the ability to identify risks and suggest solutions beyond the purely labour view. A real partner.’

Individualized service, provided with clarity and simplicity. Quick and positive responses to meet the day-to-day needs of the company.’

Luiz Marcelo Góis stands out from the competition. He has proven to be very up-to-date in this pandemic, bringing innovative and safe solutions to the company.’

Key clients

Centennial Brasil Torres de Telecomunicações


Adient do Brasil Bancos Automotivos

Instituto Alana

Expedia do Brasil Agência de Viagens e Turismo


Supergasbrás Energia

NBCUniversal International



Work highlights

  • Assisting Ambev in high-level disputes filed by former expatriate employees requesting Brazilian labour rights while working at foreign companies within the same corporate group.
  • Advising Supergasbras Energia on Covid-19 related employment issues.
  • Successfully represented Energisa Rondônia Distribuidora de Energia and Energisa Acre Distribuidora de Energisa against a union-filed class action seeking an employee profit share from the companies’ privatisation in 2018.

Brazil > TMT: Cybersecurity and data privacy Tier 3

Leveraging its full-service structure, BMA - Barbosa, Müssnich, Aragão advises on an array of matters in the data protection space. Clients from a variety of sectors - such as financial institutions, digital media companies and start-ups - seek the team's assistance with due diligence in the context of transactions, regulatory issues, contentious matters involving data breaches and LGPD compliance projects. Leading the group is Felipe Palhares, whose key areas of activity include data incidents and the processing of personal data. Vitor Butruce and Felipe Schvartzman are other key contacts in the data privacy, technology and digital business department.

Practice head(s):

Felipe Palhares

Key clients

Airbnb Serviços Digitais

Launch Pad Tecnologia, Serviços e Pagamentos


Amobitec – Associação Brasileira de Mobilidade e Tecnologia

Work highlights

  • Responsible for conducting a comprehensive revision of Hotmart’s terms of service; the company is a Brazil-based digital edtech platform.
  • Advised Smallpdf in connection with the production of valid electronic documents and the provision of valid digital signatures procedures under Brazilian law.

Brazil > Wealth and succession planning Tier 3

BMA - Barbosa, Müssnich, Aragão has a well-established private client group, covering a range of key areas, including tax, estate planning, litigation and related corporate and capital markets work. The last two came to the fore in 2020 as the Covid-19 pandemic gave rise to significant family and commercial reorganisations, debt restructurings, as well as philanthropy work. The firm has strong relationships with many of the key private banks, and in addition to advising families and individuals, also acts for several major family offices. Hermano Notaroberto Barbosa and Debora Bacellar jointly lead the team.

Practice head(s):

Hermano Notaroberto Barbosa; Debora Bacellar


‘Technically qualified  lawyers. They are attentive and helpful and customers always praise the treatment and partnership.’

‘Hermano Barbosa manages to impress clients of different profiles with impeccable service.’

The team is very accessible and available to customers, very technical and used to more complex structures, involving liquid assets, illiquid and structures abroad. I would highlight Hermano Barbosa, Jane Goldman and Lígia Regini.

Hermano Notaroberto Barbosa – technical knowledge far above average, clarity in placement and relationship.’

Camila Chouzal and Debora Bacellar – dedicated, business insight, depth.’

It was an excellent experience with the firm and with the individual lawyers I worked with. At all times my family and I felt very confident in the work of the team and very well taken care of by them.’

Key clients

Turim Investimentos

Banco Santander


Itaú Unibanco

BTG Pactual

Banco Opportunity

Vinci Partners

JGP Investimentos

Gávea Investimentos

XP Multi Family Offices

Energy and natural resources > Electricity (and renewable energy)

BMA - Barbosa, Müssnich, Aragão is seen with great regularity acting for electricity sector clients before regulatory authorities in connection with bids, concessions, environmental licensing, renegotiations of regulated contracts, and disputes. The practice also boasts strong capabilities in the fields of M&A transactions, greenfield projects, court-supervised reorganisations and tax law. The energy group is jointly led by infrastructure and regulatory specialist Ana Cândida de Mello Carvalho and Carlos Frederico Lucchetti Bingemer, the latter of whom focuses on M&A, including deals involving power and renewable energy assets.

Practice head(s):

Ana Cândida de Mello Carvalho; Carlos Frederico Lucchetti Bingemer


‘BMA has a lot of differentiated expertise in the market. The team can assist us with a variety of matters. Carlos Frederico is our main point of contact.’

Key clients

AES Tietê Energia

Abengoa Concessões Brasil Holding

We Trust in Sunlight Energia renovável e Participações

São Gonçalo Energia e Gás Renovável

ATE IV – São Mateus Transmissora De Energia

Ventos de Santo Artur Energias Renováveis

Work highlights

  • Advised Abengoa Concessões Brasil Holding on disinvestment and decommissioning of several transmissions lines, under different stages of environmental licensing proceedings.
  • Represents Ventos de Santo Artur Energias Renováveis in a lawsuit against IDEMA seeking authorisation to establish a legal reserve outside of the project’s area.
  • Advising We Trust in Sunlight Energia renovável e Participações on the environmental licensing procedures of a power plant (biogas and solar) in the state of Rio de Janeiro.

Brazil > Insurance Tier 4

BMA - Barbosa, Müssnich, Aragão has developed a solid practice in insurance-related corporate deals, having advised on high-profile M&A, joint ventures and restructurings. Rio de Janeiro-based corporate partner Henrique Vargas Gama Beloch heads the team, and acts for several leading insurers. Litigation partner Pedro Costa also has good experience in insurance disputes.

Brazil > Public law Tier 4

BMA - Barbosa, Müssnich, Aragão is well versed across a broad array of public law matters, spanning infrastructure projects, regulatory issues and government affairs. As well as providing advice on government contracting procedures, concessions and PPP structures, the practice also represents clients before regulatory agencies and acts in all types of disputes involving the public administration. Administrative misconduct and corruption cases are particular specialisms. José Guilherme Berman often assists with public bids and anti-corruption cases, while Felipe Schvartzman is specialised in compliance and administrative improbity claims. Both practitioners are based in Rio de Janeiro. In São Paulo, Ana Cândida de Mello Carvalho stands out for her in-depth knowledge of administrative law, including concessions of public services, state-owned companies and bidding procedures.

Practice head(s):

José Guilherme Berman; Ana Cândida de Mello Carvalho


‘This law firm has excellent technical and legal knowledge, an exceptional response time and is perfectly understanding of the Client’s business and interests.’

‘BMA has a complete team, with high quality partners and a lot of experience in transactions. Their advice gives me a lot of confidence. Ana Cândida de Mello Carvalho knows a lot about the airport sector and also about regulatory issues in general.’

‘Team composed of trained, specialised and up-to-date lawyers, with dynamic and fast feedback. José Guilherme Berman Correa Pinto and Felipe Schvartzman stand out.’

‘BMA brings together competent and creative lawyers, always ready to seek solutions that make the business viable in accordance with the law.’

‘José Guilherme Berman is a lawyer with deep corporate, administrative and regulatory knowledge, especially in matters related to infrastructure investments.’

Key clients

Magnamed Tecnologia Médica

K+S Aktiengesellschaft

Salina Diamante Branco

Vivacom Comércio e Serviços

VR Benefícios e Serviços de Processamento

CS Brasil Transportes de Passageiros e Serviços Ambientais

Ferrovial Construcción

Globo Comunicação e Participações

Associação Brasileira de Mobilidade e Tecnologia – Amobitec

Federação Nacional de Seguros Gerais (FENSEG)

Sindicato das Empresas de Seguros Privados do Rio de Janeiro e do Espírito Santo (SINDEG RJ/ES)

Associação Brasileira de Terminais de Contêineres de Uso Público – ABRATEC

Fundação Para o Desenvolvimento Científico e Tecnológico em Saúde – Fiotec

Work highlights

  • Assisted a group of companies that donated R$120m to the Program United by Covid-19 on all regulatory matters related to the donation of goods to public entities.
  • Assisted TK+S Aktiengesellschaft and Salina Diamante Branco in verifying all the regulatory licenses held by the latter in relation to the sale of its Operating Unit Salt Americas business operations.
  • Represented Magnamed Tecnologia Médica, a major ventilator manufacturer in Brazil, in a transaction with the Brazilian federal government for the supply of 6,500 lung ventilators to be used in the efforts against the Covid-19 pandemic.

Brazil > Projects and infrastructure Tier 5

BMA - Barbosa, Müssnich, Aragão predominantly undertakes transactional work in regulated sectors, and advises clients in bidding procedures and concessions of infrastructure projects. The team, whose experience cuts across the energy, transport, water and sewage and public lighting sectors, is under the joint leadership of Camila Goldberg and Rafael Dutra, both of whom are noted for financing deals. Ana Cândida de Mello Carvalho is recommended for infrastructure and regulatory matters.

Practice head(s):

Camila Goldberg; Rafael Dutra


‘Good knowledge of infrastructure projects and track record in this field.’

‘Ana Cândida de Mello Carvalho has a good knowledge of infrastructure projects. She was able to advise which clauses in the head contract could be adapted/negotiated with the client or not.’

‘BMA has a complete team, with high quality partners and a lot of experience in transactions. Their advice gives me a lot of confidence.’

‘Ana Cândida de Mello Carvalho knows a lot about the airport sector and also about regulation issues in general. I also highlight her knowledge of the market and how she led the project’s work by being always present in all discussions.’

Key clients

Abengoa Concessões Brasil Holding

ADP International

Global Logistic Properties (GLP)

EGIS Projects

Porto de Cima Concessões


Companhia Siderúrgica Nacional

K+S Aktiengesellschaft

Salina Diamanten Branco

Santos Brasil Participações


BRK Ambiental

Work highlights

  • Represents Abengoa Concessões Brasil Holding in administrative proceedings pending with the National Electric Power Agency (ANEEL).
  • Advised Vitol with the legal analysis of Public Consultation No. 1/2020 launched by the National Agency of Petroleum, Natural Gas and Biofuels (ANP) with the purpose of obtaining contributions to review ANP Ordinance No. 251/2000, which regulates third-party access to certain waterway terminals.
  • Acted as legal counsel to Santos Brasil Participações in connection with the offer, issuance and sale of 192,680,000 common shares.

Brazil > White-collar crime and investigations

BMA - Barbosa, Müssnich, Aragão’s white-collar criminal law practice was given a significant boost in June 2021 with the hire of Bernardo Weaver, who has experience representing individuals and companies in multi-jurisdictional investigations and negotiations with relevant authorities.

Firm Overview:

Founded in the 1990s, when Brazil was undergoing structural changes, BMA – Barbosa Müssnich Aragão was inspired by a mission to find innovative solutions that are legally viable and sustainable in an environment of rapid development, new regulatory frameworks and new business models in almost all sectors of the economy. Inspired to be a pioneering law firm, ready — and more than able — to take on the big projects and big problems that require sophisticated solutions. An active participant in the privatisations that took place in the 1990s, BMA had achieved a solid reputation and both national and international recognition even before becoming one of the leading firms in Brazil in the mid-2000s, when the Brazilian market experienced a wave of IPOs and mergers and acquisitions. BMA has been present in most of the major M&A transactions in Brazil over the last two decades, participating in the creation of corporate groups that do business around the world. BMA has acquired an impressive stock of know-how in infrastructure projects, especially in the areas of ports, railroads, highways, oil and gas, energy, and telecommunications. The firm also had a major part to play in the 2014 FIFA World Cup, negotiating the contracts that gave Brazil the right to host the event and acting as legal counsel to the local organising committee. BMA’s experienced professionals know that a thorough understanding of the firm’s clients’ business objectives is essential. BMA works to achieve creative, effective solutions by integrating its specialist teams to ensure a multidisciplinary approach to legal problems.

BMA Inspiração – Inspire to Action: BMA InspirAção is the new model for BMA’s pro bono work. BMA believes that education, socially-aware entrepreneurship and culture are the paths that will lead to profound and lasting change in society. BMA InspirAção focuses on these three vectors for change. BMA wants to generate effective returns for society as a whole, like it does for its clients, and believes it can.

BMA Educação – Becoming a BMA Lawyer: BMA EducAção is a school that helps attorneys acquire the skills that every ‘BMA Lawyer’ needs. The program focuses on excellence, quality, and providing valuable learning experiences to the firm’s professionals. The project is intended to work with BMA’s lawyers and help them develop into professionals whose qualifications, analytical skills and curiosity never stop growing, who have a multidisciplinary vision and who are eager to apply the theoretic knowledge they have acquired to creating efficient solutions to real problems. The objective is to become a true seal of excellence: BMA quality.

BMA Woman: Following the worldwide movement toward women’s empowerment and a more balanced corporate environment, the project’s objective is to support women’s professional growth within the firm and provide even more opportunities for internal talent to develop. The project kicked off its activities with events for BMA’s women lawyers and clients, fostering new professional relationships and debate on critical issues that affect the daily life of women in business.

BMA Diversity: BMA’s committed to plurality, equality of race, gender, and sexual orientation, respect for all religions, and inclusion of persons with disabilities. BMA believes in diversity as an instrument for social transformation, enriching the work environment and promoting valuable exchanges from different points of view.

Main Areas of Practice:

■ Agribusiness

■ Business Crime

■ Competition Law

■ Compliance, Investigation, and Regulatory Enforcement

■ Corporate and M&A

■ Data Privacy and Cybersecurity

■ Dispute Resolution

■ Due Diligence

■ Energy

■ Environmental and Climate Change

■ Finance and Capital Markets

■ Government Relations

■ Industry

■ Infrastructure and Regulatory & Government Affairs

■ Insurance

■ Intellectual Property

■ Labor and Employment

■ Oil & Gas

■ Private Equity

■ Privatizations and Concessions

■ Real Estate Transactions

■ Restructuring and Insolvency

■ Superior Courts

■ Tax

■ Technology and Digital Businesses

■ Telecommunications

■ Wealth and Succession Planning

Languages: English, French, German, Italian, Portuguese, Spanish

Managing Partner: Amir Bocayuva Cunha

Senior Partners: Paulo Cezar Aragão, Francisco Müssnich, Plínio Barbosa and Luiz Antonio Campos

Partners: Adriana Fuzinato, Ana Müller, Ana Cândida de Mello Carvalho, Ana Paula Reis, André Abbud, André Macedo, Anna Carolina Malta, Antonella Carminatti, Barbara Rosenberg, Bernardo Cascão, Camila Chouzal, Camila Goldberg, Camilla Paoletti, Carlo Sivieri de Assis Rocha, Carlos Frederico Bingemer, Cibele Linero, Conrado de Castro Stievani, Cristiana Moreira, Cristiane Mamprin, Daniella Fragoso, Debora Bacellar, Eduardo G. Wanderley, Ellen Juste Nuñez, Fábio Florentino, Felipe Galea, Felipe Palhares, Felipe Paschoalini, Felipe Prado, Fernanda Carneiro, Franciny de Barros, Gisela Sampaio, Guilherme Zoghbi Ayala, Gustavo Kulesza, Gustavo Maia, Hélio Alvarez, Henrique Beloch, Hermano Barbosa, Ian Bussinger, Iara Ferreira, Igor Silva de Lima, Jane Goldman, José Guilherme Berman, José Inácio Ferraz, José Otavio Faloppa, Leandro Bittencourt, Letícia Ramires Pelisson, Lígia Regini, Luciana Celidonio, Luciana Magalhães Costa, Luciana Marsal, Luis Flaks, Luís Henrique Costa, Luiz Fernando Fraga, Luiz Marcelo Góis, Luiza Lacerda, Márcio Pereira, Marcos Exposto, Maria da Paz Tierno Lopes, Mario Gelli, Maurício Faro, Miguel Ramos, Monique Mavignier, Patrícia Sabino, Pedro Costa, Pedro Frankovsky Barroso, Rafael Calábria, Rafael Castilho, Rafael Dutra, Raquel Mansanaro, Renan Frediani, Roberto Dias Carneiro, Sergio Fagundes, Sérgio Savi, Tatiana Amorim, Thais Meira, Vitor Butruce, Vivian Casanova.

Number of lawyers: 300

Managing Partner Amir 21 3824-5871

Inclusion and respect for plurality. For us, these are the motors of social wellbeing, and we created BMA Diversity to apply these ideas in everyday life at our firm.

The program is under constant construction to keep pace with the world around us. Its foundations are authenticity and respect, promoting a welcoming, representative space where everyone at BMA feels at ease and free to be who they are, both at work and in their life outside the firm.

We embrace plurality, equality of race, gender and sexual orientation, we respect all religious beliefs, and we strive to include people with disabilities. We believe in diversity as an instrument for social transformation that enriches our work environment and enables valuable exchanges of points of view.

We have created internal discussion groups to foster knowledge and work on actions to promote diversity. These groups are called “Diversity Champions” (Propagadores da Diversidade) and those who are interested in participating can choose which area they will focus on: racial equity, gender equity, LGBTI +, PWD, or all of them.

Through BMA Diversity, we seek to listen to all groups represented in today’s society and promote opportunities to share experiences with other law firms. By working together toward a shared goal, we can plan actions that will help eliminate prejudice in day-to-day interactions and build a more egalitarian and inclusive world for us to live in.

To give back to society as a whole, through actions that lead to deep and long-lasting change, is the mission we have taken on in BMA Inspiration. The program supports education, culture, and entrepreneurship that has social impact in three ways: pro bono work, offering free legal services to those in need; volunteer work, in campaigns where our people contribute to a variety of social causes; and BMA Solidarity, a new project that focuses on opportunities for our people to lend a helping hand to colleagues within the BMA firms. We believe these are tools that have true impact in the effort to make the world a better place.

BMA Inspiration goes beyond a legal contribution and also encompasses volunteering in the same social cause, involving not only lawyers but all of the firm’s employees.

Our volunteers invest their time and end up transforming their own lives, while helping to transform the lives of other people and communities.

In 2021 we joined the Global Compact, the largest business sustainability initiative in existence. Our firm is committed to making the Global Compact and its 10 universal principles a fundamental pillar of our strategy, culture and practices, favouring, not only business, but especially society and our planet.

Check out more about BMA’s initiatives on our website.