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Simpson Thacher recently represented Trafigura Pte Ltd. and certain of its affiliates in connection with an acquisition by Trafigura and Mubadala Development Co. from MMX Mineracao & Metalicos S.A. (controlled by Eike Batista) of a 65% stake in MMX Porto Sudeste, a port located in the southeastern part of Rio State. Trafigura and Mubadala subscribed $400 million in shares issued by MMX Porto (to be used to complete port construction) and assumed 1.3 billion reais (approximately $553 million) of MMX Porto debt. MMX retained the remaining 35% stake in MMX Porto Sudeste.

Trafigura is a leader in the global commodities market, focused on sourcing, storing, blending and delivering commodities and key raw materials to clients throughout the world. Trafigura is active in Europe, the Americas, Asia, Africa and Australasia, with operations in 58 countries.

The Simpson Thacher team for this transaction included Jaime Mercado, Grenfel Calheiros (São Paulo), Derek Baird (London), Jay Blackman (Houston), Sam Taylor (London) and Eduardo Goldberg (Corporate); Kevin Arquit, David Vann (London) and Ellen Frye (Antitrust).