Pinheiro Guimarães > Rio de Janeiro, Brazil > Firm Profile
Pinheiro Guimarães Offices

AV RIO BRANCO 181
27TH FLOOR
20040-918 RIO DE JANEIRO, RJ
Brazil
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Pinheiro Guimarães > The Legal 500 Rankings
Brazil > Banking and finance Tier 1
Pinheiro Guimarães is well known for its strong transactional track record in domestic and cross-border financings. The firm's clients come from across the financial services sector, including major creditors, debtors, governments and multilateral organisations. The team has a strong reputation for structured and acquisition finance, and has recently been involved in several major restructurings and project finance deals. The team is respectively led from Rio de Janeiro and São Paulo by Plinio Pinheiro Guimarães Neto and Francisco José Pinheiro Guimarães. Ivie Moura Alves has a good name for cross-border syndicated loans, while senior partner Francisco Pinheiro Guimarães Neto also continues to play an active role on deals. Other key individuals include Fábio Yanitchkis Couto for structured finance and the acquisition of non-performing loans (NPLs), Marcela Taquette Vaz and Bruno Lardosa.
Practice head(s):
Plinio Pinheiro Guimarães Neto; Francisco José Pinheiro Guimarães
Key clients
Citibank
Itaú BBA
Credit Suisse
BTG Pactual
International Finance Corporation (IFC)
JP Morgan
Santader
HSBC
Banco Votorantim
Bradesco
Goldman Sachs
Klabin
General Motors
XP Investimentos
Saxo Bank
Banco Itaú
Ioschpe
B3 – Brasil, Bolsa, Balcão
Suzano Papel e Celulose
Globo Group
Andrade Gutierrez
Enel
Moneda Asset Management
Redwood Capital Management
Rimrock Capital Management
Rede D’Or
EDF Energies Nouvelles
Work highlights
- Acted as counsel to Banco Citibank in connection with a R$15.2bn syndicated loan granted to the electric power sector (represented by the Brazilian Electricity Trading Chamber – CCEE) to ensure the liquidity of the sector throughout the Covid-19 pandemic.
- Acted as counsel to the lenders on a $1.14bn loan to a joint venture between Austrian fibre producer Lenzing and Brazilian dissolving wood pulp supplier Duratex, in order to build a facility with capacity to produce 500,000 tons of dissolving wood pulp per year.
- Advising on an $850m issuance and public note offering by Rede D’Or Finance, guaranteed by Rede D’Or São Luiz.
Brazil > Capital markets Tier 1
Pinheiro Guimarães' strong market position in capital markets ensured that it was involved in some of the largest listings to hit the market in 2020. This included providing advice to the underwriters, such as on the R$22bn Petrobras secondary offering, and to the issuers, including Rede D'Or São Luiz on its $2.2bn IPO. The firm's impressive workload extends to the debt markets as well, with a similar balance of issuer and underwriter work across a range of domestic and cross-border debt products. The team is respectively led out of São Paulo and Rio de Janeiro by Francisco Pinheiro Guimarães Neto and Plinio Pinheiro Guimarães Neto. They are complemented by a talented team of partners, including Ivie Moura Alves for domestic and international financings, Cristina Tomiyama for transactional and regulatory matters, and Bruno Lardosa and Paula Beatriz Carneiro Pessôa.
Practice head(s):
Plinio Pinheiro Guimarães Neto; Francisco José Pinheiro Guimarães; Paula Beatriz Carneiro Pessôa; Ivie Moura Alves
Testimonials
‘Pinheiro Guimarães has extensive experience in operations in the capital markets. The team is highly qualified, very available.’
‘Technical, competent and agile team. I’ve been interacting with them for over 15 years and they have always maintained a high standard.’
‘Francisco Pinheiro Guimarães and Ivie Moura Alves are extremely dedicated, very available and engage directly in the subjects. They have high knowledge and are very experienced.’
Key clients
Citibank
Itaú BBA
Credit Suisse
BTG Pactual
Santander
Bradesco BBI
Organizações Globo
XP Investimentos
HSBC
Votorantim
Rede D’Or
JP Morgan
B3 S.A. – Brasil, Bolsa, Balcão
Iopche
Neoenergia
Enel
Suzano Papel e Celulose
Pátria Investimentos
CTG
Diagnósticos da América (DASA)
GP Investimentos
Banco Safra
Klabin
Group Boticário
International Finance Corporation – IFC
Grupo Gran
Work highlights
- Acted as counsel to the underwriters, including Banco de Investimentos Credit Suisse (Brasil), in connection with the sale of an equity stake held by Banco Nacional de Desenvolvimento Econômico e Social – BNDES in Petrobras through a public offering of shares (including in the form of American Depositary Shares (ADS)).
- Acted as Brazilian counsel to Rede D’Or São Luiz in connection with its $2.2bn stock listing.
- Acted as counsel to Suzano in connection with its $750m note offering.
Brazil > Corporate and M&A Tier 3
'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.
Practice head(s):
Plinio Pinheiro Guimarães Neto; Francisco José Pinheiro Guimarães; Marcelo Lamy
Testimonials
‘Highly specialized in corporate, capital markets and international transactions. Excellent team, very available, hands on and flexible to propose solutions. They are distinguished in international M&A or capital markets due to their proximity to the client and their work as a unique team.‘
‘Marcelo Lamy is very experienced, with deep corporate knowledge of Brazilian law and a comprehensive view of challenges and legal issues of all kinds. Excellent negotiator and strategist. Mariana Jost has a lot of depth and knowledge of CVM rules and extensive experience in capital market operations. Quite technical, structured, objective. Rafael Vianello has solid tax knowledge applicable to transnational corporate transactions. Experienced lawyer.’
‘Marcelo Lamy, Maria Amélia Serra and Ana Carolina Galdino are recommended.’
Key clients
BTG Pactual
Brookfield
Citibank
HSBC
GP Investments
Itau Unibanco
Gávea Investimentos
International Finance Corporation – IFC
Organizações Globo
BHG – Brazil Hospitality Group
RHI
RHI Magnesita
Credit Suisse
Enel
Principia Capital Partners
Goldman Sachs
EB Capital
Cicerone Advisers
DNA Capital
EDF
GTIS Partners
Graal Participações
BIONEXO
Participações Industriais do Nordeste
Cellera Farma
Air Bus
Helibrás
Arla Foods
Wilson Sons
Cremer
Mafra Group
Consigaz
Partners Group
Grupo Soma
Macquarie Capital
Klabin
Rede D’Or
Rock World S.A. (Rock in Rio)
B3 – Brasil, Bolsa, Balcão
CBSM – Companhia de Soluções de Marketing
Work highlights
- Advised the seller in the acquisition and merger of shares of Vamoquevamo Empreendimentos e Participações (RESERVA), in the amount of R$720m, by Arezzo Indústria e Comércio.
- Acted as counsel to Zap Viva Real Group in connection with the sale of the totality of the capital stock of Zap Viva Real Group and its subsidiaries to Bom Negócio Atividades de Internet (OLX) involving approximately R$2.9bn.
- Acted for the controlling shareholders of Perinatal in the sale of maternity units and neonatal intensive care unities to Rede D’Or São Luiz, the largest privately owned hospital operator group in Brazil.
Brazil > Projects and infrastructure Tier 3
With particular strength in the energy sector, Pinheiro Guimarães is routinely engaged by project sponsors, equipment suppliers, financial institutions and multilateral agencies to assist with the structuring, development and implementation of renewable energy projects. André Sigelmann stands out for his experience in the pulp and paper and oil and gas industries; he is proficient in both project finance and M&A transactions related to the aforementioned sectors. Sigelmann jointly leads the department with Roberta Pimentel, who has advised on numerous project finance transactions. Another key individual is Marcela Taquette Vaz, who has been particularly active in bridge and long-term financings for solar photovoltaic projects.
Practice head(s):
André Sigelmann; Roberta Pimentel
Testimonials
‘Extensive knowledge of the national and international market in the sector.’
‘I would highlight André Sigelmann and Isabel Prochet for their seriousness, commitment, strategy and technical knowledge.’
Key clients
EDF Renewables
Rio Energy
EDP Energias do Brasil
Eneva
Brookfield Energia Renovável
Neoenergia
Nexa Resources
Aeris Indústria e Comércio de Equipamentos para Geração de Energia
Total Eren
Echoenergia Participações
BTG Pactual
Andrade Gutierrez
Itaú BBA
International Finance Corporation
Interamerican Development Bank
Banco Citibank
Itaú Unibanco
Credit Suisse
Santander
XP Investimentos Corretora de Câmbio, Títulos e Valores Mobiliários
XP Vista Asset Management
Work highlights
- Acted as counsel to the lenders of a loan to a joint venture between Austrian fiber producer Lenzing and Brazilian dissolving wood pulp supplier Duratex in order to build a facility with capacity to produce 500,000 tons of dissolving wood pulp per year.
- Assisted Banco Citibank in connection with a syndicated loan granted to the electric power sector (represented by the Brazilian Electricity Trading Chamber – CCEE) to ensure the liquidity of the sector due to the impacts of the Covid-19 pandemic.
- Advised Itaú Unibanco, as investor, in connection with the issuance of redeemable preferred shares by Novo Estado Participações.
Brazil > Restructuring and insolvency Tier 3
The team at Pinheiro Guimarães is led by well-regarded litigator Gustavo Mota Guedes, who has an impressive track record in related insolvency proceedings. Other key partners include the recently promoted Guilherme Vaz Leal da Costa, who has established a good name for high-value cases, particularly with regard to representing the creditors. In a significant development, the firm saw the departure of two key former partners: Eduardo Augusto Mattar and Renata Machado Veloso.
Practice head(s):
Gustavo Mota Guedes; Guilherme Vaz Leal da Costa
Testimonials
‘The team combines experience in various areas of action – both advisory and regulatory, as well as litigation and restructuring. This is a unique strength of the firm.’
‘Partners with great knowledge of the client and active participation in all stages of the restructuring.’
‘Guilherme Vaz Leal da Costa impresses by his knowledge in restructuring, arbitration, and litigation. Guilherme has experience coordinating parallel judicial and arbitration proceedings in various jurisdictions.’
‘Bruno Lardosa and Guilherme Vaz are extremely competent and always available.’
Key clients
Banco Credit Suisse (Brasil)
Itaú Unibanco
Banco Santander (Brasil)
Andrade Gutierrez
Redwood Capital Management
CarVal Investors
King Street Capital Management
Centerbridge Partners
AIG Investments
Knighthead Capital Management
Guggenheim Partners
Banco Votorantim
Hilco Global Brazil
Merrill Lynch International
Explorador Capital Management
VR Global Partners
Centerbridge Partners
Roystone Capital Management
Rimrock Capital Management
Amundi Pioneer Asset Management
ICE Canyon
Goldman Sachs International
Cyrus Capital
Serengeti Asset Management
Thornburg Investment Management
Merrill Lynch Pierce, Fenner e Smith
DW Partners
Rimrock Capital Management
Roystone Capital Management
Knighthead Capital Management
Sothic Capital Management
CQS Asset Management Limited
Oaktree Capital
GSO Capital Partners
MSD Capital
Explorador Capital
Nomura Assets Management
PointState Capital
Hilco Global
Bank of America
Citigroup
Empresa de Energia São Manoel
International Finance Corporation
Stallone Investments Group
Quadra Gestão de Recursos
Graal Participações
Work highlights
- Representing a creditor holding a total claim of over $514m, which represents over 70% of the total claims in the bankruptcy proceeding of Oceanair Linhas Aéreas (Avianca Brasil) and AVB Holding.
- Representing Banco Votorantim on several lawsuits filed against the debtors and their guarantors, in the R$4.5bn judicial reorganisation of Usina de Açúcar Santa Terezinha.
- Representing Brookfield Renewable in the defence of its position as post-petition creditors of Tonon Bioenergia.
Brazil > Real estate Tier 4
Pinheiro Guimarães is well known in the market, particularly for its work on financings and related capital markets issues. This includes support to underwriters on share offerings and the issuance of CRIs. The team is also active on the energy and infrastructure side. Key partners include Bruno Lardosa and Carolina Alonso in Rio de Janeiro.
Tax > Tax advisory Tier 5
The active tax team at Pinheiro Guimarães is especially experienced in transactional and non-contentious tax matters. The practice regularly advises on the tax structuring of high-value and complex corporate finance transactions, including M&A and capital markets listings. Its lawyers also have experience in advising on judicial and administrative disputes. Daniela Melo Fassheber and Rafael Vianello jointly lead the team out of Rio de Janeiro and São Paulo, respectively.
Practice head(s):
Daniela Melo Fassheber; Rafael Vianello; Plinio Pinheiro Guimarães; Francisco José Pinheiro Guimarães
Key clients
Brookfield Holding
Globo Comunicações e Participações
Tiferet Comércio de Roupas
EDP do Brasil
Neoenergia
Brookfield Shopping Centers
EDF em do Brasil Participações
Parâmetro Comércio e Participações
Brasmetal Waelzholz S.A. Indústriaa e Comércio
Banco Itaú BBA
Brazil Hospitality Group
Wilson, Sons Group
Airbus Group Brasil Representações
Bionexo do Brasil
Klabin
Banco Citibank
Banco BTG Pactual
Lanx Capital Investimentos
DOTZ – CBSM – Companhia Brasileira de Serviços de Marketing
Brookfield Energia Renovável
Graninvestimentos
Perdertactor Indústria e Comércio
Principia Capital Partners Investimentos
Nova Milano Investimentos
DNA Capital Consultoria
Mafra Hospitalar – CM Hospitalar
Enel Green Power Brasil Participações
PET Center Comercio e Participações
Bionexo do Brasil
Diagnósticos da América – DASA
Grupo Oncoclínicas
Helibrás
Sociedade de Ensino Superior Estácio de Sá
Vanguarda Mato Grosso Logística de Transportes
Grupo Unigel
Tordesilhas Capital Gestora de Recursos
Grupo Soma
Reserva
Peninsula Participações
C&A
Assaí
Magazine Luiza
Track & Field
Work highlights
- Advised Zap Viva Real Group on the tax aspects of its sale to Bom Negócio Atividades de Internet.
- Advised Rede D’Or São Luiz on the tax aspects of a $850m note offering.
- Represented Tiferet Comércio de Roupa in a case concerning the exclusion of taxes on Circulation of Goods and Services (ICMS) from the calculation of the social security contribution levied on gross revenues.
Pinheiro Guimarães > Firm Profile
Pinheiro Guimarães was established in 1922. With a presence in Rio de Janeiro and São Paulo, Pinheiro Guimarães represents a wide variety of both Brazilian and foreign clients and is assisted by a full staff of legal support personnel.
Pinheiro Guimarães is one of the most active Brazilian legal advisers assisting in domestic and international capital markets debt and equity offerings, syndicated loans, trade finance, mergers and acquisitions, cross-border lease transactions, structured finance, project finance and procurement, private equity, securitisations of exports and other receivables, bankruptcy and corporate reorganisations, litigation, arbitration and tax.
Lawyers are fluent in several languages and many of them hold LLM degrees from the law schools of major universities in Brazil, the US and Europe. A significant number of Pinheiro Guimarães lawyers have worked at top tier law firms abroad and in international organisations. 18 of them are admitted to practice in both Brazil and New York.
Principal areas of practice
Banking and finance: Pinheiro Guimarães has extensive and widely recognised experience in local and cross-border financing transactions. Its lawyers represent a wide range of clients that include both private and institutional lenders, governments and development agencies, multilateral organisations and corporate borrowers. Pinheiro Guimarães acts as counsel to both lenders and borrowers in connection with syndicated loans, refinancing transactions, import financing, export prepayment and other trade-related debt transactions, local and cross-border financial leases, securitisations, credit-linked debt and acquisition financings. A significant part of the practice involves representing clients undertaking project finance (infrastructure and industrial projects) deals, structured finance products and debt restructuring (including bankruptcy proceedings and judicial and extrajudicial reorganisations).
It also assists financial institutions in developing banking and treasury products and in regulatory and compliance matters, including administrative proceedings and the reorganisation of financial groups, before the Central Bank and the Securities and Exchange Commission (CVM).
Capital markets: Pinheiro Guimarães provides legal advice on primary and secondary public securities offerings in both the Brazilian and international capital markets (shares, shares certificates and debt securities). It also assists clients in carrying out filings and cancellations of public company registrations; securities listings and delistings; administrative proceedings and consultations with the CVM and BM&FBOVESPA; investments in the Brazilian capital and financial markets by local and foreign investors; and structuring stock option plans.
It is also actively involved in developing and setting up investment funds, including hedge funds and structured funds such as private equity funds and credit rights investment funds (FIDCs), as well as in different derivative transactions (including hedging transactions involving swaps, futures and options linked to foreign exchange, interest rates and commodity indices and prices) and products. Pinheiro Guimarães also advises clients on compliance and trading rules, filings and reporting requirements and administrative and disciplinary procedures.
Corporate and M&A: Pinheiro Guimarães provides legal assistance in the incorporation of companies and other entities for the development of business activities in Brazil. Such assistance includes drafting corporate documents (such as investment agreements, joint venture agreements, shareholder and quotaholder agreements), and counselling on all corporate issues involving different corporate entities in Brazil. On a regular basis, Pinheiro Guimarães handles securities repurchase transactions; foreign investments structure and divestments; transactions involving asset sales and debt assumptions; and turn-around investments and investments in overleveraged or distressed Brazilian companies. It is also actively involved in M&A transations, transfers of control, corporate restructuring transactions and designing and negotiating private equity investments and private equity funds.
Tax: Pinheiro Guimarães advises clients in developing and carrying out integrated tax strategies with respect to their activities in connection with capital markets, start-ups, mergers and acquisitions, corporate finance, structured finance, asset restructurings and e-business. It engages in the development of financial and banking products, tax-efficient investment alternatives, and derivatives transactions. Tax lawyers at Pinheiro Guimarães have expertise in international and cross-border transactions and international tax treaties, therefore being well positioned to provide its clients with sophisticated advice on structured tax transactions, tax derivatives products, tax planning and the most effective use of tax credits and tax sparing rules.
Litigation and arbitration: Pinheiro Guimarães has a competent and growing number of lawyers dedicated to handling complex commercial and financial matters under litigation or subject to arbitration proceedings. In the area of credit recovery — including summary collections, judicial recovery and bankruptcy proceedings — it has seen its practice grow in recent years, to a point where it includes a significant number of clients in Brazil as well as many offshore creditor groups. A growing number of dispute resolution proceedings consist of commercial arbitration, both local and international.
Project procurement: Pinheiro Guimarães is a recognised leader in the development and implementation of projects in various industries, such as energy, oil and gas, and pulp and paper. It provides legal advice on all aspects of the development and implementation of projects, including devising the most appropriate structure for the project (corporate, regulatory and tax-wise), tax incentives participation in public auctions, joint ventures, project agreements, financing regulatory and environmental matters, claims management and dispute resolution.
Insolvency and restructuring: In the area of credit recovery — including summary collections, judicial recovery and bankruptcy proceedings — the firm has seen its practice grow in recent years to include a significant number of clients in Brazil as well as many offshore creditor groups, such as bondholders, commercial and investment banks, investment funds and multi-lateral organisations.
Main Contacts
Department | Name | Telephone | |
---|---|---|---|
Rio de Janeiro | Plinio Pinheiro Guimarães N | plinio@pinheiroguimaraes.com.br | +55 21 4501 5000 |
São Paulo | Francisco José Pinheiro Guimarães | fjpg@pinheiroguimaraes.com.br | +55 11 4501 5000 |
Lawyer Profiles
Staff Figures
Partners : 39 Associate Lawyer : 60Languages
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:- Banking and finance
- Capital markets