The Firm recently represented Credit Suisse, Goldman Sachs and Morgan Stanley, as underwriters, in connection with the initial public offering (IPO) of 111,678,000 Class A common shares of Cosan Limited, for a total price to public of approximately US$1.2 billion. The Class A common shares, which were registered with the U.S. Securities and Exchange Commission and the Brazilian Securities Commission, were offered in the United States and other countries outside Brazil, as well as in Brazil in the form of Brazilian Depositary Receipts (BDRs).
The Class A common shares are listed on the New York Stock Exchange under the symbol “CZZ”, while the BDRs are listed on the São Paulo Stock Exchange. The transaction was the largest SEC-registered IPO of a Brazilian business since 2000.
Cosan Limited is a newly organized Bermuda holding company which owns a controlling stake in Cosan S.A. Indústria e Comércio, a Brazilian corporation. Cosan S.A. Indústria e Comércio is the largest producer of ethanol and sugar in Brazil, the second largest producer of ethanol in the world and among the three largest sugar producers in the world.
The Simpson Thacher team for the transaction included Glenn M. Reiter, Grenfel S. Calheiros and Heloisa H. Griggs; Mark Lab and Sean Cotton (NASD and Blue Sky); Jon Cantor and Sean Austin (Tax); and summer associates Brian Rosenzweig and Miles M. Jackson.