September 1, 2009
by Carlos Alberto Moreira Lima Jr., Partner, Pinheiro NetoAnd, in spite of the several practical, cultural and conjectural difficulties involved (including vices, liabilities, or a family management history), many foreign investors were interested in buying an ongoing business rather than merely channeling their funds into a business starting from scratch. But Brazil now stands out as an international player in the M&A arena. The flow of business has remained steady over recent years, and the number of M&A deals has grown sharply: up from 392 deals in 2002 to over 640 in 2008, which is even more impressive taking into consideration the economic downturn from the second semester of 2008
The M&A landscape in Brazil has changed greatly in the past twenty-five years. Back then, companies and their shareholders, executives, auditors and lawyers were all stepping into a new arena together.