Simpson Thacher Represents the Placement Agents in R$621 Million (US$267.7 Million) IPO of Brazilian Tour Operator
12.17.13
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The Firm recently represented Itau BBA USA Securities, Inc., Morgan Stanley & Co. LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated, BTG Pactual US Capital LLC and J.P. Morgan Securities LLC as placement agents in connection with the initial public offering of 33,750,000 common shares of CVC Brasil Operadora e Agência de Viagens S.A. (“CVC”) and listing on the São Paulo Stock Exchange (BM&FBovespa). 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 in reliance on Regulation S. The transaction was 100% secondary and raised R$621 million (approximately US$267.7 million) in proceeds, pending exercise of the over-allotment option.
CVC is the largest tour operator in Latin America based on the value of bookings sold, offering a diverse portfolio of products and services mainly focused on travel packages.
The Simpson Thacher team for this transaction included Grenfel S. Calheiros, S. Todd Crider, Thiago Spercel, Caetano Altafin Cunha and Taissa M. Licatti (Capital Markets – São Paulo Office); and Jodi L. Sackel (Tax).