The Firm represented BTG Pactual US Capital, LLC, Itau BBA USA Securities, Inc., Goldman Sachs & Co. LLC, Bradesco Securities, Inc., Citigroup Global Markets Inc. and Santander Investment Securities Inc., as placement agents, in connection with the “re-IPO” of 79,655,172 common shares of Eneva S.A. (“Eneva”) for an aggregate amount of R$876 million (approximately US$279 million). The common shares were offered to certain institutional investors 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 launched on September 15 and closed on October 11.
Eneva is an electricity power generation company and the pioneer in the development and operation of the reservoir-to-wire (R2W) business model in Brazil. It is the only private-sector power generation company operating in the thermoelectric segment in Brazil with operations that integrate the exploration and production of natural gas, and generation and sale of electricity. Eneva is also the second largest onshore natural gas producer in Brazil.
The Simpson Thacher team was led by Grenfel S. Calheiros and included Paulo F. Cardoso and Marcelo B. Lorenzen (Capital Markets); and Jonathan Cantor and Pierce Pandolph (Tax).