Simpson Thacher Represents Silver Lake in R$1.03 Billion Primary and Secondary Offering of Locaweb
02.28.20
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Simpson Thacher represented Silver Lake Sumeru (“Silver Lake”) and an affiliate fund as selling shareholder, in connection with the primary and secondary offering of common shares of portfolio company Locaweb Serviços de Internet S.A.
Locaweb is Brazil's largest provider of webhosting, cloud computing, and SaaS applications to small and medium-sized businesses. Locaweb offers a full complement of services to help businesses establish and grow their Internet presence, including web hosting, cloud servers, domain registration, e-mail accounts, e-mail marketing and e-commerce.
Locaweb (BVMF: LWSA3) priced its offering at R$17.25 per share, at the top of the indicative price range, and Silver Lake was able to sell its entire equity stake in the offering.
The Simpson Thacher team included Jaime Mercado and Victor Clementino (Corporate – New York).