Centrais Elétricas Brasileiras’ $6.9 Billion Shares Offering

Clifford Chance advised Centrais Elétricas Brasileiras S.A. (Eletrobras) on the transaction.
Shearman & Sterling represented the state-owned BNDES Participações S.A. – BNDESPar (BNDESPAR) as selling shareholder in the offering.

Centrais Elétricas Brasileiras S.A. (Eletrobras) executed the US$6.9 billion offering of shares.

The landmark transaction is the largest privatization of a state-owned company in Brazil in the last two decades, the second-ever largest equity offering in Brazil and the second largest share offering in the world in 2022.

Eletrobras is the largest electric power generation and transmission company in Latin America.

The Shearman & Sterling team Roberta B. Cherman (Picture), Antonia E. Stolper, Debora Ayoub and Ana Gonçalves.

Clifford Chance’s team was led by Jon Zonis and Pfleger Andrade and included in: New York: partner Avrohom Gelber, foreign law clerks Barbara Marques, Mariana Ferez and Ximena López, associates Sharon Yu and Tanner Schenewark, and professional support lawyer Rebecca Hoskins; Madrid: partner Yolanda Azanza; São Paulo: paralegals Igor Freire and Victoria Weaver.

Involved fees earner: Yolanda Azanza – Clifford Chance; Avrohom Gelber – Clifford Chance; Anja Pfleger Andrade – Clifford Chance; Tanner Schenewark – Clifford Chance; Sharon Yu – Clifford Chance; Jonathan Zonis – Clifford Chance; Debora Ayoub – Shearman & Sterling; Roberta Berliner Cherman – Shearman & Sterling; Ana Gonçalves – Shearman & Sterling; Antonia Stolper – Shearman & Sterling;

Law Firms: Clifford Chance; Shearman & Sterling;

Clients: BNDES Participações S.A. – BNDESPAR; Centrais Eletricas Brasileiras S.A. (Eletrobras);