Brisanet’s R$1.25 Billion Initial Public Offering

Simpson Thacher and Lefosse advised Brisanet Participações S.A. (“Brisanet”) on the deal. White & Case and Mattos Filho, Veiga Filho, Marrey Jr. y Quiroga advised the initial purchasers.

Brisanet executed the initial public offering on the São Paulo Stock Exchange (B3) at a public offering price of R$13.92 per common share. The offering raised R$1.25 billion in gross proceeds (excluding the underwriters’ over-allotment option).

The common shares were offered to certain institutional investors in Brazil, to qualified institutional buyers in the United States under Rule 144A and to non-U.S. persons outside the United States in reliance upon Regulation S. Brisanet’s common shares began trading on the B3 under the ticker symbol “BRIT3” on July 29, 2021.

Brisanet is one of the largest independent internet service provider in Brazil with fiber optic technology, with approximately 697,000 subscribers and more than 6,300 employees spread over 96 cities in the Northeast region of Brazil.

The Simpson Thacher team was led by Grenfel S. Calheiros (Picture) and Paulo F. Cardoso and included Siddharth Fresa and João Felipe Rocha (Capital Markets); and Jonathan Cantor and Scott Grundei (Tax).

In Brazil, Lefosse advised Brisanet with Ricardo Prado, Bruno Massis,  Luciana Moutinho, Maria Mendonça, Leonardo Gaspar, Breno Carvalheiro, Lara Maroni and Marco Mariutti.

White & Case advised Banco Santander (Brasil) S.A.; XP Investimentos Corretora de Cambio, Títulos e Valores Mobiliários S.A.; Banco BTG Pactual S.A.; UBS Brasil Corretora de CTVM S.A. and Banco Bradesco BBI S.A. with John Guzmán.

Mattos Filho, Veiga Filho, Marrey Jr. y Quiroga advised Banco Santander (Brasil) S.A.; XP Investimentos Corretora de Cambio, Títulos e Valores Mobiliários S.A.; Banco BTG Pactual S.A.; UBS Brasil Corretora de CTVM S.A. and Banco Bradesco BBI S.A. with  Jean Marcel Arakawa, Pedro Henrique Vega Longhi and Mariana Collar Amaral.

Involved fees earner: Paulo Fernando de Menezes Cardoso – Cleary Gottlieb Steen & Hamilton; Breno Cavalheiro – Lefosse; Leonardo Gaspar – Lefosse; Lara Maroni – Lefosse; Bruno Massis – Lefosse; Maria Mendonça – Lefosse; Luciana Moutinho – Lefosse; Ricardo Prado – Lefosse; Jean Marcel Arakawa – Mattos Filho Veiga Filho Marrey Jr & Quiroga; Mariana Collar Amaral – Mattos Filho Veiga Filho Marrey Jr & Quiroga; Pedro Henrique Vega Longhi – Mattos Filho Veiga Filho Marrey Jr & Quiroga; Grenfel Calheiros – Simpson Thacher & Bartlett; Jonathan Cantor – Simpson Thacher & Bartlett; Siddharth Fresa – Simpson Thacher & Bartlett; Scott Grundei – Simpson Thacher & Bartlett; Joao Rocha – Simpson Thacher & Bartlett; John Guzman – White & Case;

Law Firms: Cleary Gottlieb Steen & Hamilton; Lefosse; Mattos Filho Veiga Filho Marrey Jr & Quiroga; Simpson Thacher & Bartlett; White & Case;

Clients: Banco Bradesco BBI S.A.; Banco Santander Brazil; Brisanet Telecomunicações; BTG Pactual; UBS; XP Investimentos Corretora de Câmbio, Títulos e Valores Mobiliários S.A.;