The Firm represented Itau BBA USA Securities, Inc., BTG Pactual US Capital, LLC, J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC and Santander Investment Securities Inc., as placement agents, in connection with a primary follow-on offering of 102,000,000 common shares of Lojas Renner S.A. (“Renner”).
The offering raised R$3.97 billion in gross proceeds to Renner. The shares were offered to certain qualified institutional buyers under Rule 144A in the United States and to non-U.S. persons outside the United States in reliance upon Regulation S. Renner’s shares are traded on the B3 under the ticker symbol “LREN3.”
Renner is one of the largest fashion and lifestyle retailers in Brazil, offering a broad platform of brands and services to its customers. Renner was founded in 1965 and currently operates 606 stores, of which 594 are located in Brazil, and 12 are located in Argentina and Uruguay.
The Simpson Thacher team included Grenfel S. Calheiros, Marcelo B. Lorenzen and Fabiano Maia (Capital Markets); and Jonathan Cantor and Scott Grundei (Tax).