Simpson Thacher Represents Perdigão S.A. in Global Equity Offering
11.14.06
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The Firm recently represented Perdigão S.A. in a $375 million global offering of 32,000,000 Common Shares, including Common Shares in the form of American Depositary Shares (ADSs). The offering, which was underwritten by Credit Suisse and Banco Itaú BBA, consisted of a registered public offering in the United States and other countries outside Brazil and a concurrent Regulation S offering in Brazil. The offering was one of a small number of SEC-registered offerings by Brazilian companies during 2006.
The global offering was Perdigão’s initial equity offering outside Brazil. Although Perdigão has had a listing on the New York Stock Exchange for ADSs representing its shares since October 2000, Perdigão had not previously offered and sold shares in the U.S. or other international capital markets.
Perdigão is one of Brazil’s largest food companies, with a focus on poultry, pork and processed foods. Perdigão distributes its food products in Brazil and over 100 other countries. In 2005, Perdigão slaughtered more than 500 million heads of poultry and 3.5 million hogs.
The Simpson Thacher team for the transaction included Glenn M. Reiter, John Ericson, Grenfel Calheiros and Ronaldo Bassitt Giovannetti (corporate) and Jonathan Cantor and Kathleen Delaney (tax).