CVC’s R$402.8 Million Follow-On Offering

The Firm represented Citigroup Global Markets Inc. and BofA Securities on the deal.

CVC Brasil Operadora e Agência de Viagens S.A. (“CVC”), has completed its primary follow-on offering of 52,312,500 common shares.

The offering raised R$402.8 million in gross proceeds to CVC. The common shares were offered to certain qualified institutional buyers under Rule 144A in the United States and to non-U.S. persons outside the United States in reliance upon Regulation S. CVC’s shares are traded on the B3 under the ticker symbol “CVCB3.”

CVC is one of the largest travel groups in Latin America, present in Brazil, Argentina and the United States, operating with brands in the business-to-business and business-to-consumer markets. CVC currently has 1,256 exclusive stores, of which 1,158 are located in Brazil and 98 are located in Argentina, and more than 6,794 multi-brand stores.

The Simpson Thacher team included Grenfel S. Calheiros (Picture), Marcelo B. Lorenzen and Fernando John Friedmann Junior (Capital Markets); and Jonathan Cantor and Preston Irace (Tax).

Involved fees earner: Grenfel Calheiros – Simpson Thacher & Bartlett; Jonathan Cantor – Simpson Thacher & Bartlett; Preston Irace – Simpson Thacher & Bartlett; Marcelo Lorenzen – Simpson Thacher & Bartlett;

Law Firms: Simpson Thacher & Bartlett;

Clients: BofA Securities India Limited (DSP Merrill Lynch Limited); Citigroup Global Markets Ltd;


Author: Youness Semri