Hidrovias do Brasil acquires Imperial Group’s South American shipping unit

The companies acquired, Imperial South America and Imperial Shipping Paraguay, operate a fleet of more than 90 vessels and move an estimated 1.6 million tons of dry bulk cargo annually. The two companies’ primary customers are industrial groups in the steel and agribusiness sectors.

The South American shipping business of the company employs some 150 people.

Imperial says it has assessed the strategic fit of its international logistics business and decided to exit this now non-core business in a phased approach.

The sale of its South American shipping business follows the disposal of its European shipping business in July 2020, while Imperial’s remaining freight management and contract logistics operations within its international logistics business remain for sale.

Imperial entered the South American waterways logistics market in 2014.

Imperial says the proceeds of the transaction will be used to optimize its financial position, reduce its debt, while some funds will also be invested in new growth areas In line with the group’s strategy

Hidrovias do Brasil is an independent integrated logistics provider focused on waterway logistics services in Latin America, and the acquisition aims to strengthen its position on the Paraná-Paraguay waterway, part of a logistics corridor in Brazil's southern region, where it currently operates grain, cellulose and iron ore transportation.

The transaction will also be important for increasing product diversification, Hidrovias do Brasil said.

Hidrovias do Brasil was advised on the acquisition by the Paraguay office of law firm Ferrere, with a team that featured partners Verónica Franco, Eduardo Ammatuna, Marysol Estigarribía, and associates Yamina Centurión, Fernanda Benítez, Valentina Conti and Ignacio Mera.

Hidrovias was advised on transactional matters by law firm Skadden, with a team comprising partner Holger Hofmeister (Frankfurt), associate Carlo von Hanstein (São Paulo), partner Mathias von Bernuth (São Paulo), partner Jan Bauer (Frankfurt), counsel Jens Koenig (Frankfurt/Munich) and European counsel Michael Albrecht, who is also based in Frankfurt and Munich.

Hidrovias’ in-house team was led by Alicia Gambetta, with in-house lawyer Anahí Martinez participating in Paraguay.

Imperial South America and Imperial Shipping Paraguay were counseled by Taylor Wessing Partnerschaftsgesellschaft, in Dusseldorf, Germany, with a team comprising partner Klaus Grossmann, salary partner Sonja Leutnant and associate Fabian Friebel.

The two companies were counseled in Paraguay by PSTBN, with a team led by partners Francisco Peroni and Estefania Elicetche.