Hidrovias do Brasil S.A. Completes Follow-On Offering
07.17.23
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Simpson Thacher represented Itau BBA USA Securities, Inc., BTG Pactual US Capital, LLC, Santander US Capital Markets LLC and XP Investments US, LLC as placement agents in connection with the follow on equity offering by Hidrovias do Brasil S.A. (“Hidrovias”). The follow on offering was comprised of a secondary offering of 130,000,000 common shares of Hidrovias sold by Pátria Infraestrutura Fundo de Investimento em Participações Multiestratégia, Pátria Infraestrutura Brasil Fundo de Investimento em Participações Multiestratégia, HBSA Co-Investimento – Fundo de Investimentos em Participações Multiestratégia and Sommerville Investments B.V. 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.
Hidrovias is one of the largest independent integrated logistics providers focused on waterway logistics services in Latin America, as measured by contracted revenue and carrying capacity. The shares of Hidrovias are traded on the Novo Mercado listing segment of the São Paulo Stock Exchange (B3 S.A. – Brasil, Bolsa, Balcão) under the symbol “HBSA3.”
The Simpson Thacher team for the transaction included Grenfel S. Calheiros, Luiz F. Noronha, Raissa Fini, Isabel de Carvalho and Ariela Sznirer (Capital Markets); and Jonathan Cantor and Scott Grundei (Tax).