US firm White & Case LLP and Brazil’s Machado, Meyer, Sendacz e Opice Advogados have helped Brazilian car rental company Locamerica raise 273 million reais (US$145 million) in what was Brazil’s first IPO of 2012.
US firm
Simpson Thacher & Bartlett LLP and Brazil’s Mattos Filho, Veiga Filho, Marrey Jr e Quiroga Advogados
advised the underwriters: Banco Itaú BBA, BTG Pactual, Bank of America Merrill
Lynch, Banco Votorantim and BB Investimentos. The offering was priced on 20
April, and sees Locamerica listed on the BM&FBovespa stock exchange.
The offering, which broke Brazil’s longest ever IPO drought in the industry′s
history, closed shortly before BTG Pactual’s oversubscribed IPO, which prompted
speculation about renewed investor enthusiasm for Brazil’s capital markets. BTG
Pactual turned to Skadden Arps, Machado Meyer and Conyers Dill & Pearman
for Bermudan counsel. The banks were advised by Shearman & Sterling LLP and
Lefosse Advogados.
Before Locamerica Brazil’s last IPO took place in July, when educational
company Abril Educação turned to White &
Case LLP and Pinheiro Neto Advogados to raise 371
million reais (US$239 million) – a value which fell below expectations. Simpson
Thacher, working alongside Pinheiro Guimarães – Advogados,
was retained by the banks.
Counsel to Locamerica
US
White & Case LLP
Brazil
Machado,
Meyer, Sendacz e Opice Advogados
Partners Daniel de Miranda Facó, Gustavo Rugani do Couto e Silva, and
associates Julia Barreto Lobo and Felipe Carvalho Gomes Ventura
Counsel to Itaú, BTG Pactual, Merrill Lynch, Banco do Brasil and Banco
Votorantim
US
Simpson Thacher Bartlett LLP
Partner Jaime Mercado, Rob Holo and Anthony Minervini and associates Gustavo
Pinto, Joana Scarpa Mota and Bruno Viveros
Brazil
Mattos Filho,
Veiga Filho, Marrey Jr e Quiroga Advogados
Partner Jean Marcel Arakawa and associates Renata Carvalho Stelling, Rodolfo
Constantino de Tella and Guilherme Rossetto Nunes de Oliveira
(Latin Lawyer 04.05.2012)
(Notícia na Íntegra)