News
Japanese transport companies buy railway operator from Odebrecht
Latin Lawyer
Brazil’s Mattos Filho, Veiga Filho, Marrey Jr e Quiroga Advogados has helped Japanese conglomerate Mitsui lead the majority stake acquisition of a railway concessionaire in Rio de Janeiro from Odebrecht Transport.
Mitsui completed the deal using an acquisition vehicle called Guarana Urban Mobility, which it controls. West Japan Railway Company, which has a 49% stake in Guarana, hired Dias Carneiro Advogados for the transaction. Japanese law firm Nishimura & Asahi is also thought to have helped West Japan Railway, but this could not be confirmed prior to publication. Odebrecht is understood to have turned to Lobo de Rizzo Advogados.
The parties signed the deal on 28 February. No value was disclosed.
The transaction is awaiting approval from Brazil’s antitrust agency, CADE. When complete, Guarana Urban Mobility will hold nearly 89% in the concessionaire SuperVia. Odebrecht will retain the remainder.
SuperVia operates 270 kilometres of railway and 104 stations in the metropolitan area of Rio de Janeiro. It serves some 600,000 passengers daily.
