Simpson Thacher represented CB Richard Ellis Group, Inc. (NYSE: CBG) in a public offering of its Class A common stock, which closed on November 18, 2008. The offering was made through an underwriting syndicate led by Credit Suisse Securities (USA) LLC and Banc of America Securities LLC as joint book-running managers. ABN AMRO Incorporated, Barclays Capital Inc., HSBC Securities (USA) Inc., Scotia Capital (USA) Inc. and Wells Fargo Securities, LLC acted as co-managers in the offering.
After the underwriters exercised their over-allotment option in full, the offering of 57,500,000 newly issued shares of Class A common stock raised net proceeds to CB Richard Ellis of approximately $207 million.
CB Richard Ellis Group, Inc. (NYSE: CBG), headquartered in Los Angeles, is the world's largest commercial real estate services firm (in terms of 2007 revenue). CB Richard Ellis offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage brokerage; appraisal and valuation; development services; investment management; and research and consulting.
The Simpson Thacher team who worked on the offering was based in Palo Alto and included Bill Brentani, Louis Lehot, Larissa Schwartz and Michael Reeves (corporate), Tristan Brown (employee compensation and benefits) and Sean Austin (tax). Paralegals Jesus Villicana and Nicholas Rey also provided invaluable support.