Simpson Thacher recently represented Credit Suisse Securities (USA) LLC, BTG Capital Corp., Itaú USA Securities, Inc., Goldman, Sachs & Co., Santander Investment Securities Inc., and Bradesco Securities, Inc., as placement agents, and UBS Securities LLC, Barclays Capital Inc. and Morgan Stanley & Co., as co-managers, in connection with the 100% secondary follow-on offering of 111,647,687 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$868.8 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 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, Gustavo Benchimol, 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 (paralegal).