News & Events

The Firm represented Atacadão S.A. (“Atacadão”), the holding company of the Carrefour Group in Brazil, and its controlling shareholder, Carrefour S.A., Europe’s second largest retailer in terms of sales, in connection with the initial public offering of 297,143,842 (excluding common shares to be sold pursuant to the underwriters’ option to purchase additional common shares) of its common shares (“Shares”) on the São Paulo Stock Exchange (B3) at a public offering price of R$15.00 per share.

The offering, which raised R$3,088 million (approximately US$974.1 million) in gross proceeds to Atacadão and R$1,368 million (approximately US$431.5 million) in gross proceeds to selling shareholders (including an affiliate of Carrefour S.A.), is the largest initial public offering in Brazil in four years. The shares were offered to the public in Brazil, to certain qualified institutional buyers under Rule 144A in the United States, and to non-U.S. persons outside the United States in reliance upon Regulation S.  Atacadão’s shares began trading on the B3 under the ticker symbol “CRFB3” on July 20, 2017.

Carrefour Brazil is the leading Brazilian food retailer in terms of sales, with a network of 576 points of sale in more than 150 cities in all 26 states of Brazil and the Federal District, including cash & carry stores, wholesale facilities, hypermarkets, supermarkets, convenience stores, drugstores and gas stations, as well as a rapidly expanding e-commerce and marketplace platform.

The Simpson Thacher team included Grenfel S. Calheiros, Paulo Fernando Cardoso and Luiz F. Noronha (Capital Markets – São Paulo); Rodrigo Surcan dos Santos (Capital Markets – New York); and Pierce Pandolph (Tax – New York).