Burger King Brazil’s $188 Million Follow-On Offering


Simpson Thacher represented BK Brasil Operação e Assessoria a Restaurantes S.A. (“BKB”) and certain selling shareholders in connection with a secondary follow-on offering of 33,373,621 of its common shares.

The offering raised R$714 million (approximately US$188 million) in gross proceeds to the selling shareholders. The 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. BKB’s shares are traded on the B3 under the ticker symbol “BKBR3.”

BKB is the master franchisee of Burger King Corporation in Brazil, holding exclusivity rights to manage and develop the BURGER KING®and POPEYES® brands in the country.

The Simpson Thacher team included Grenfel S. Calheiros (Picture), Marcelo B. Lorenzen and Daniel A. Malatesta (Capital Markets); and Jonathan Cantor and Sergio A. Torres (Tax).

Involved fees earner: Grenfel Calheiros – Simpson Thacher & Bartlett; Jonathan Cantor – Simpson Thacher & Bartlett; Marcelo Lorenzen – Simpson Thacher & Bartlett; Sergio Torres – Simpson Thacher & Bartlett; Daniel Malatesta – Veirano Advogados;

Law Firms: Simpson Thacher & Bartlett; Veirano Advogados;

Clients: Burger King;

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Author: Ambrogio Visconti.