May 2026
Conyers has advised the shareholders of Serra Verde Group, a Brazil-based rare earth producer and operator of one of the world’s largest ionic clay rare earth deposits, on the entry into a definitive agreement to be acquired by USA Rare Earth in a transaction valued at approximately US$2.8 billion, which will represent the largest rare earths M&A transaction in Latin America. The acquisition is to be implemented by way of a BVI statutory merger, with shareholders of Serra Verde Group receiving consideration comprising a combination of cash and equity. Closing is anticipated in the third quarter of 2026, subject to customary conditions and regulatory approvals.
Conyers is pleased to have acted as British Virgin Islands legal counsel to the shareholders of Serra Verde, advising on the BVI law aspects of the transaction. The firm worked closely with Allen & Overy Shearman Sterling LLP, who acted as onshore counsel to the shareholders.
The Conyers team included Partner Anton Goldstein and Associate Jack Irwin.