The Firm represented XP Investments US, LLC, BTG Pactual US Capital LLC, Itau BBA USA Securities, Inc. and Brasil Plural Securities LLC, as placement agents, in connection with the initial public offering of 28,571,429 common shares of 3R Petroleum Óleo e Gás S.A. (“3R”) on the São Paulo Stock Exchange (“B3”), raising R$600 million in gross proceeds.
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. 3R’s common shares will trade on the B3 under the ticker symbol “RRRP3.”
3R is a Brazilian oil and gas company specialized in the redevelopment of mature onshore and shallow-water oil and gas fields.
The Simpson Thacher team was led by Grenfel S. Calheiros and included Paulo F. Cardoso and Siddharth Fresa (Capital Markets); and Jonathan Cantor and Suzy Yaster (Tax).