Simpson Thacher represented J.P.Morgan Securities LLC, as global coordinator and joint bookrunner, and BTG Pactual US Capital Corp., Citigroup Global Markets Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated and Morgan Stanley & Co. Incorporated, as joint bookrunners, in connection with the public secondary offering of 21,628,728 American depositary shares representing ordinary shares of Ternium S.A. owned by Usinas Siderúrgicas de Minas Gerais S.A. – Usiminas. Concurrently with the offering, Usiminas Europa A/S sold the remainder of its shares in Ternium S.A. to Ternium International Inc., a subsidiary of Ternium S.A., and Techint Holdings S.àr.l., the controlling shareholder of Ternium S.A., in a private transaction. The transaction closed on February 15, 2011, and the over-allotment option closed on February 18, 2011.
Ternium is a leading steel producer in Latin America, manufacturing and processing a wide range of flat and long steel products for customers active in the construction, home appliances, capital goods, container, food, energy and automotive industries.
The Simpson Thacher team for this transaction included S. Todd Crider, Jaime Mercado, Grenfel Calheiros, Juan F. Mendez, Michele Murphy, Valeria Ferrero and Jorge Allende (Capital Markets); Jon Cantor and Danny Salinas (Tax); Andrew Pagliughi and Jenny Getsin (FINRA and Blue Sky) and Nicole Escobar (Paralegal).