The Firm represented Itau BBA USA Securities, Inc., Goldman Sachs & Co. LLC, BofA Securities, Inc., BTG Pactual US Capital, LLC, Citigroup Global Markets, Inc. and Morgan Stanley & Co. LLC, as placement agents, in connection with the initial public offering of 180,375,180 common shares of GPS Participações e Empreendimentos S.A. (“GPS”) on the São Paulo Stock Exchange (B3). The offering consisted of a primary offering of 90,187,590 common shares and a secondary offering of 90,187,590 common shares, at a price per share of R$12, and raised an aggregate of approximately R$2.5 billion.
The common shares were offered to qualified institutional buyers in the United States under Rule 144A and to non-U.S. persons in reliance on Regulation S. The shares of GPS are traded on the B3 under the ticker symbol “GGPS3.”
GPS is a leader in the integrated services industry in Brazil, primarily providing facilities management, security services, maintenance and industrial services, and indoor logistics services. GPS has over 2,700 corporate customers located in 22 Brazilian states and more than 100,000 employees.
The Simpson Thacher team included Grenfel S. Calheiros, Luiz F. Noronha and Isabel de Carvalho (Capital Markets); and Marcy G. Geller and Joseph A. Tootle (Tax).