Simpson Thacher Represents Credit Suisse, Morgan Stanley and Bradesco in the Initial Public Offering of Tivit Terceirizacão de Processos, Servicos e Tecnologia S.A.
10.19.09
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Simpson Thacher recently represented Credit Suisse Securities (USA) LLC, Morgan Stanley & Co. Inc. and Bradesco Securities, Inc. as placement agents in connection with the sale of an aggregate of 38,304,446 common shares of Tivit Terceirização de Processos, Serviços e Tecnologia S.A. The common shares were offered to the public in Brazil, to qualified institutional buyers in the United States under Rule 144A and to non-U.S. persons under Regulation S. The transaction raised approximately US$367 million in proceeds to the selling shareholders. Tivit is a portfolio company of Votorantim Novos Negocios and Patria Investimentos, both Brazilian private equity companies and clients of the firm.
Tivit is a leading Brazilian company in the provision of integrated information technology (IT) and business process outsourcing (BPO) services in Latin America. Tivit has one of the largest IT and BPO platforms in Latin America, employing over 23,000 people and providing services to over 900 clients which accounted for net revenues of more than US$450 million in 2008.
The Simpson Thacher team for this transaction included Todd Crider, Thiago Spercel and Gustavo Pinto (Capital Markets); Jonathan Cantor and Jonathan Talansky (Tax); and Elizabeth Martinez (Paralegal).