Simpson Thacher Represents Netshoes in Merger with Magazine Luiza
05.03.19
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The Firm is representing Netshoes (Cayman) Limited (NYSE: NETS) in connection with its proposed merger with a subsidiary of Magazine Luiza S.A. (BVMF: MGLU3), with Netshoes continuing after the merger as the surviving company and as a wholly owned subsidiary of Magazine Luiza S.A. Subject to the terms and conditions of the Merger Agreement, each of Netshoes’ shareholders will receive US$2 per share in cash for each common share, resulting in an estimated total consideration for the transaction of approximately $62 million. The transaction is subject to the satisfaction of certain conditions precedent, including approval by Netshoes’ shareholders and the Brazilian antitrust agency.
Netshoes is one of the largest sports and lifestyle online retailers in Brazil, and has sold to more than 17.6 million customers since its foundation.
The Simpson Thacher team includes Grenfel S. Calheiros, Paulo Cardoso and Luiz F. Noronha (Corporate – São Paulo); Todd Crider and Eduardo Camara (Corporate – New York); Kirsten Jensen, Usman Arain and Jeremy Bethel (M&A – Palo Alto); Jacqueline Clinton (Tax – Palo Alto); Tristan Brown and Alyssa Ohanian (ECEB – Palo Alto); and Marcela Robledo (IP – Palo Alto).