Campos Mello Advogados advises Carmo Energy in the closing of its acquisition of Carmópolis Cluster for approximately US$1.1 billion

Campos Mello Advogados (CMA), in cooperation with DLA Piper, advised Carmo Energy, a privately held independent oil and gas company, in the closing of its acquisition of the Carmópolis Cluster from Petróleo Brasileiro S.A. – Petrobras for approximately US$1.1 billion.

The sale price is the largest deal in the history of Brazilian onshore oil and gas exploration and production assets. The Carmópolis Cluster, a set of 11 concessions of onshore production fields with integrated facilities, is located in the state of Sergipe.

CMA advised Carmo Energy in the entire acquisition process, including in securing the antitrust and all regulatory approvals, the legal due diligence for the financiers and the negotiation of the finance, defending Carmo Energy in class actions trying to impede closing and tax structuring of the new business.

“We are proud to have advised on the closing of this historic acquisition, bringing together our extensive regulatory capabilities and key oil and gas sector experience,” said Alexandre Calmon, the Campos Mello partner who led the deal. “It was a pleasure to work with Carmo Energy throughout the negotiation and acquisition process, putting into practice the full breadth and depth of our skillset in the sector.”

In addition to Calmon, the Campos Mello Advogados team that worked on the deal included partners Marcelo Frazão, Roberto Vianna do R. Barros, Rafael Bussiére, Victor Kampel, Luciana Martorano, Vilmar Gonçalves, João Marçal, Humberto Marini, Maria Eduarda Bérgamo, Carolina Caiado and associates Beni Flint, Cristiano Schiller, Roberta Arakaki, Nathalia Almeida, Diego Barros, Larianne Sampaio, Tainá Carvalho, Lucca Galatro and Julianna Marinho.

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