Simpson Thacher recently represented UBS Securities LLC, Credit Suisse Securities (USA) LLC and Santander Investment Securities, Inc., as placement agents, and Safra Securities Corporation and Banco Votorantim Securities, Inc., as co-managers, in connection with the follow-on offering of 29,475,000 common shares of MRV Engenheria e Participações S.A. The common shares were offered to the public in Brazil, to qualified institutional buyers in the United States under Rule 144A and to non-U.S. persons under Regulation S. The transaction raised approximately US$ 375 million in proceeds.
MRV Engenheria e Participações S.A. is the largest Brazilian real-estate developer and builder listed on the BM&FBovespa, the Brazilian stock market, in terms of estimated sales value of launched units related to low-income residential developments. They have been operating in the segment for over 29 years and operate in 63 cities throughout Brazil.
The Simpson Thacher team for this transaction included S. Todd Crider, Thiago Spercel, Fernando Szterling, Sasha Willimann and Lucas Sant’Anna (Capital Markets); Jonathan Cantor and Aaron Cohen (Tax); and Elizabeth Martinez (paralegal).