Simpson Thacher represented BBB Foods Inc. (“Tiendas 3B”) in connection with a public offering of Class A common shares by certain selling shareholders, at a price to the public of $28.25 per share. A total of 21,000,000 Class A common shares were sold by the selling shareholders. The selling shareholders have granted the underwriters the right to purchase up to an aggregate of 3,150,000 additional Class A common shares from the selling shareholders. The offering raised approximately $593.3 million in gross proceeds for the selling shareholders.
J.P. Morgan, Morgan Stanley, BTG Pactual, Santander and Scotiabank acted as underwriters for the offering.
Tiendas 3B is a hard discount grocery retailer with over 2,700 stores across 16 states in the central region of Mexico, focused on offering irresistible value to budget savvy consumers through great quality products at bargain prices.
The Simpson Thacher team included S. Todd Crider, Kirsten L. Davis, Marcelo B. Lorenzen, Enrique Güijosa, Doug Ogata and Isaac Cattan (Latin America - Capital Markets); Jonathan E. Cantor and Lina Pan (Tax); and Jamin R. Koslowe (Executive Compensation and Employee Benefits).