Simpson Thacher recently represented EcoRodovias Infraestrutura e Logística S.A. and the selling shareholders in connection with the initial public offering of 144,003,000 common shares, including the shares sold in connection with the exercise in full of the over-allotment option. The 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$762.4 million in proceeds.
EcoRodovias is among the largest integrated logistics infrastructure companies in Brazil, with a focus on intermodal logistics operations, toll road concessions and related services. Their business is organized into four logistics systems, including two logistics terminals, one of which is among the largest terminals in Latin America, as well as five toll road concessions, which span over 1,450 km (899 miles) and received more than 70 million vehicles in 2009. EcoRodovias’ various operations exchange operational and economic synergies and are strategically located along the principal import, export and transportation routes in Brazil, linking industry, production, consumption and tourism centers — more than 45.1% of all exports, 54.4% of all imports and 69.7% of passenger and tourist traffic in Brazil were transported using EcoRodovias’ roads, according to information provided by the company.
The Simpson Thacher team for this transaction included S. Todd Crider, Thiago Spercel, Fernando Szterling, Sasha A.L. Willimann and William A. Langer (Capital Markets), John Creed and Danny H. Salinas (Tax), Jeanne Annarumma (Executive Compensation and Employee Benefits) and André Gregori (Paralegal).