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Monday, 20 May 2019 13:00

Demarest advises Facebook on Brazil RE acquisition

Demarest has advised Facebook on the acquisition of real estate by a Brazilian subsidiary where the client will install a hub for operation of an undersea cable system for data transmission.



FacebookThe acquisition is part of a $500 million project to provide direct connectivity in Brazil and ultimately connect the country’s submarine cable infrastructure to that of Argentina. 



The acquisition of the real estate and implementation of the project is being carried out jointly with GlobeNet Cabos Submarinos, a provider of telecommunications infrastructure.



Demarest’s partner Luciana Tornovsky acted as lead counsel to Facebook, with lawyers Flávia Vidigal and Henrique Anders.