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Simpson Thacher recently represented Obrascon Huarte Lain Brasil S.A. (“OHL Brasil”) and its controlling shareholder OHL Concesiones S.A. of Spain in OHL Brasil’s initial equity offering of common shares, including common shares in the form of GDSs. The transaction raised the U.S. dollar equivalent of approximately US$181 million in proceeds of which US$55 million related to a primary portion and US$126 million related to a secondary portion. The common shares were offered to the public in Brazil, with selling efforts to qualified institutional buyers in the United States under Rule 144A and to non-U.S. persons in Europe under Regulation S, in the form of both placement of common shares and purchase and sale of GDSs.

OHL Brasil is one of the largest toll-road concessionaires in Brazil, operating 567 miles of roads in the state of São Paulo, which is home to approximately 22% of the Brazilian population and generates 35% of the country’s GDP. Its controlling shareholder, OHL Concesiones, is the seventh largest concessionaire group in the world. OHL Brasil and OHL Concesiones are members of the OHL group, which was founded more than 90 years ago and is currently present in 17 countries.

The Simpson Thacher team for the transaction consisted of Todd Crider, Beatriz Franco, Grenfel Calheiros, Gonçalo Godinho and summer associates Heloisa Griggs and Mike Shenkman (corporate), and Jonathan Cantor and Hallie Grainer (tax).