Publish in Special Reports - Monday, May 23, 2016
MOVING AHEAD Brazil's economy is expected to start moving ahead with the new government and its economic reforms, US law firms predict. (Photo: MEC)
Paul Schnell, Filipe Areno and Mathias von Bernuth, Skadden and Roberta Bassegio and Michael Fitzgerald, Paul Hastings. (Latinvex collage)
US law firms are more optimistic about the outlook for Brazil and their business there after the change of governments.
BY JOACHIM BAMRUD
With the change of governments in Brazil, US law firms are optimistic about their business in Latin America’s largest economy. Michel Temer became Brazil’s acting president May 12 after the country’s Senate voted to suspend President Dilma Rousseff over budget violations. Her suspension is for 180 days, although experts believe she will be impeached and removed during that time, thus leaving Temer as president until Rousseff's mandate ends in January 2019.
"The business community's reaction to the 'change' in government has been dramatic, going from a state of deep pessimism to a wave of relief and enthusiasm about the future,” says Paul Schnell, Chair of the Latin America practice at Skadden.
Roberta Bassegio, who heads up the new Sao Paulo office of Paul Hastings, agrees. “We perceive the change in the Brazilian government as ...
Keywords: Brazil, Capital Markets, Corruption, IPOs, M&As, Paul Hastings, Privatizations, Skadden