Mayer Brown, Tauil & Chequer (T&C), Linklaters, Machado Meyer, King & Wood Mallesons (KWM), Cleary Gottlieb, and Stocche Forbes Advogados advised on Chalco and Rio Tinto’s BRL 4.69 billion ($904 Million Approx) joint acquisition of controlling stake in Companhia Brasileira de Alumínio (CBA).

The BRL 4.69 billion transaction represents the largest aluminum-sector deal in Brazil in the past 15 years and marks Chalco’s entry into the Latin American market through the acquisition of a fully integrated, market leading aluminium producer.

Under the transaction structure, Chalco and Rio Tinto will acquire Votorantim’s controlling interest in CBA through a newly formed joint venture in which Chalco will hold a 67% stake and Rio Tinto a 33% stake. Following closing—subject to customary regulatory approvals—the joint venture will launch a mandatory tender offer for the remaining outstanding shares of CBA, as required under Brazilian law.

Mayer Brown and Tauil & Chequer (T&C) in association with Mayer Brown advised Aluminum Corporation of China Limited (Chalco) in connection with its joint acquisition with Rio Tinto of a 68.596% controlling stake in Companhia Brasileira de Alumínio (CBA).

The Brazil-based Mayer Brown and T&C team was led by Corporate & Securities partner Bruno Werneck and associate Julio Barboza and included: Corporate & Securities partners Aline Fidelis, Débora Yanasse, and Rodolfo Tella, and associates Marcello Ximenes, Natalie Melamed, Júlio Dias, Maria Fernanda Lellis, Natália Minotto, Julia Braga, Guilherme Galiazzi, Rebeca Liareno, and Juliana Ungefehr; Tax partner Giampaolo Marzulli; and Real Estate partner Ludmila Braga and associate Laís Palma.

Linklaters advised Rio Tinto. The team included George Casey, Vinita Sithapathy, Rebecca Iles, and Caroline Aguiar.

Machado Meyer advised Rio Tinto on Brazilian law aspects. The team was led by Partners Guilherme Malouf, Liliam Yoshikawa, Ana Karina Souza, Celso Costa, Clarissa Figueiredo de Souza Freitas, Diana Pacifico Henne, Luiz Eduardo Miranda Rosa, Martina Zajakoff Predtechensky, Roberta Danelon Leonhardt, and Maria Eugenia Novis. Additional lawyers included Victor Goulart Lazarini, Rafael Costa Silva, Lais da Silva Oliveira Dis Santos Filadelfo, Esther Ormos Windmüller, Aline Barreto de Moraes e Castro Philodemos, Lair da Silva Magalhães Loureiro, and Erica Yamashita.

King & Wood Mallesons advised Chalco. The team included George Zhao, Alice Shen, and Yang.

Cleary Gottlieb advised Votorantim S.A., the selling shareholder. The team was led by Partner Juan Giráldez on M&A matters. Partners Dan Culley and Cunzhen Huang, and Associate Yiming Sun advised on antitrust matters.

Stocche Forbes Advogados acted as local counsel to Votorantim. The team included Partners André Stocche, Rafael Andrade, Luciana Stracieri, Alessandra Zequi, Ricardo Freoa, and Ana Paula Paschoalini, and Associates Luis Filipe Ferreira da Costa and Thomás Felipe Crosta.