Simpson Thacher recently represented UBS Securities LLC, Itaú USA Securities, Inc., Goldman Sachs & Co., Merrill Lynch, Pierce, Fenner & Smith Incorporated and Banco BTG Pactual S.A., as placement agents, and Safra Securities Corporation, as co-manager, in connection with the follow-on offering of 75,600,000 common shares, which included the exercise in full of the over-allotment option, of PDG Realty S.A. Empreendimentos e Participações. 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$475.4 million in proceeds.
PDG Realty S.A. Empreendimentos e Participações is one of the fastest growing Brazilian real-estate developers listed on the BM&FBovespa, the Brazilian stock market, in terms of general sales volume launched since January 2007. They operate in 57 cities throughout Brazil, as well as in Buenos Aires and Rosario, Argentina.
The Simpson Thacher team for this transaction included S. Todd Crider, Andrea Andrezo, Sasha A.L. Willimann and Paula Redondo Pereira (Capital Markets); Jonathan Cantor and Aaron Cohen (Tax); Jeanne Annarumma (Executive Compensation and Employee Benefits); and Elizabeth Martinez, Christina Mauricio and John Oberbeck (paralegals).