Machado Meyer Sendacz e Opice has advised a Brazilian utilities company and underwriters on a secondary share offering.
The Belo Horizonte municipal government and underwriter in Brazil, while Citigroup Global Markets Brasil, corretora de Cãmbio and Títulos e Valores Mobiliários were the global underwriters.
The $277 million offering was set up by Minas Gerais State Development Bank. The bank has been trying to establish a capital markets deal to raise capital after attempting other kids of financing transactions.
Eliana Chimenti led the Machado Meyer team, as Brazilian cousel to the underwriters, selling shareholders and the issuer.
John Vetterli and Lea Yassuda of White & Case acted as international legal counsel to the underwriters.
Richard Aldrich, Cláudio Oksenberg and Lukas Rhomberg of Shearman & Sterling represented jthe selling shareholders and the issuer.
(IFLR Legalwire 27.05.2008)