Brazil’s largest law firm by headcount, Siqueira Castro Advogados, has merged with São Paulo tax boutique Advocacia Lunardelli.
Advocacia Lunardelli’s team of 14 lawyers, including two partners, moved into Siqueira Castro’s São Paulo office on 4 October, bringing clients including Sony, Honda, Whirlpool and McDonald’s.
According to a spokesman for the firm, the addition of Advocacia Lunardelli will boost Siqueira Castro’s revenues by around $5m (£3.14m).
“Brazil is booming in terms of M&A deals, both local and international, at the moment,” said Siqueira Castro partner Carlos Fernando Siqueira Castro.
“Companies are acquiring assets outside of Brazil and a tax team is crucial in M&A deals so we’re experiencing a boom in tax planning.”
According to one recruiter in the market, consolidation among Brazilian firms is a consequence of an international influx. In 2010 alone a number of international firms including Mayer Brown, DLA Piper and Garrigues, have entered the market.
“I’ve never seen the market the way it is right now,” said Pedro Amaral Dinkhuysen, managing partner for Latin America at recruiter Laurence Simons International. “In my opinion, this merger is a response to what the international firms are doing. I’m advising another Brazilian firm in a possible merger, and one that’s in talks with an international firm.”
Siqueira Castro has 510 lawyers, including 55 partners, in 17 offices across Brazil. The firm also has offices in Angola and Lisbon, and is a member of the Advoc network.
For more on Brazil, see this week’s regional Special Report (page 31)