The Firm represented Itau BBA USA Securities, Inc., BTG Pactual US Capital, LLC, Safra Securities LLC, XP Investments US, LLC, Brasil Plural Securities LLC and UBS Securities LLC, as placement agents, in connection with the primary and secondary offering of 73,000,000 common shares of 3R Petroleum Óleo e Gás S.A. (“3R”) on the São Paulo Stock Exchange (“B3”), raising R$2.4 billion in gross proceeds.
The common shares were offered to certain institutional investors in Brazil, to qualified institutional buyers in the United States under Rule 144A and to non-U.S. persons in reliance on Regulation S. 3R’s common shares are traded on the B3 under the ticker symbol “RRRP3.” In April 2021, the Firm also assisted the placement agents, in connection with 3R’s R$822.8 million Brazilian stock exchange (B3) follow-on offering, under Rule 144A and Regulation S.
3R is a Brazilian oil and gas company focused on the redevelopment of mature producing oil and gas fields.
The Simpson Thacher team was led by Partner Grenfel S. Calheiros and Counsel Paulo F. Cardoso and included Siddharth Fresa and Julia Pinheiro (Capital Markets); and Jonathan Cantor (Tax).