Brazil’s Mattos Filho, Veiga Filho, Marrey Jr e Quiroga Advogados and US firm Shearman & Sterling LLP have helped shopping mall operator Aliansce raise US$315 million in an initial public offering.
Machado, Meyer, Sendacz e Opice Advogados and the São Paulo office of US firm White & Case LLP advised lead underwriter BTG Pactual, along with Bradesco BBI, JPMorgan and Itau BBA.
"I think the deal certainly shows the resilience and attractiveness of the Brazilian real estate sector, where there have been more than 20 IPOs in the last couple of years," says Shearman partner Andrew Jánszky.
Aliansce sold 50 million shares at 9 reais each in a primary offering that closed on 27 January. Two of the company′′s shareholders also sold 24.75 million shares at the same price in a secondary offering.
The issuer says it will use the net proceeds for the acquisition and development of new shopping centres as well as the expansion of its existing units.
The IPO was originally planned for June 2007 but was suspended because of worsening market conditions.
Aliansce was formed in 2004 and is controlled by Brazilian businessman Armando Rique, General Growth Properties (currently under bankruptcy protection in the US), and local private equity fund Gavea.
Counsel to Aliansce
Brazil
· Mattos Filho, Veiga Filho, Marrey Jr e Quiroga Advogados
Partners José Eduardo Carneiro Queiroz, Rodrigo Azevedo Junqueira and Andrea Bazzo Lauletta and associate Fernando Augusto Correa da Costa Neto
US
· Shearman & Sterling LLP
Partner Andrew Jánszky and associate Helen Naves in New York, and associate Tobias Stirnberg in São Paulo
Counsel to the banks
Brazil
· Machado, Meyer, Sendacz e Opice Advogados
Partners Daniel de Miranda Faco and Carlos Motta and associate Alessandra Flo Vilardi
US
· White & Case LLP
Partners Fernando de la Hoz and Don Baker in São Paulo
SP
(Latin Lawyer 12.02.2010)
(Notícia na Íntegra)