The Firm represented C&A Modas S.A. (“C&A Brazil”), and COFRA Investments S.à R.L. and INCAS S.A. (the “Selling Shareholders”), in connection with the initial public offering of 98,630,146 common shares of C&A Brazil (considering the sale of additional shares and not considering the exercise of the over-allotment option) on the São Paulo Stock Exchange (B3) at a public offering price of R$16.50 per share.
The offering raised R$813.7 million in gross proceeds to C&A Brazil and R$813.7 million in gross proceeds to the Selling Shareholders. The shares were offered to certain qualified institutional buyers under Rule 144A within the United States and to non-U.S. persons outside the United States in reliance upon Regulation S. C&A Brazil’s shares began trading on the B3 under the ticker symbol “CEAB3” on October 28, 2019.
C&A Brazil is one of the most recognized fashion retail brands in Brazil, focused on designing, distributing and selling fashion retail and apparel products at good value-for-money, including clothing, accessories, shoes, swimwear, beauty items and perfumes, to women, men and children through its nationwide network of brick-and-mortar stores and online e-commerce platform.
The Simpson Thacher team included Grenfel S. Calheiros, Paulo F. Cardoso and Winnie Y. Loureiro (Capital Markets – São Paulo); and Jonathan Cantor and Gal Shemer (Tax – New York).