Eneva S.A.’s $285 Million Follow-On Offering

Simpson Thacher represented BTG Pactual US Capital, LLC, Itau BBA USA Securities, Inc., Citigroup Global Markets Inc. and Santander Investment Securities Inc., as placement agents, in connection with a secondary follow-on offering of 60,646,269 common shares of Eneva S.A. (“Eneva”) for an aggregate amount of R$1.1 billion (approximately US$285 million) in gross proceeds to the selling shareholders.

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 in reliance on Regulation S. Eneva’s shares are traded on the B3 under the ticker symbol “ENEV3.”

Eneva is an electricity power generation company and the pioneer in the development and operation of the reservoir-to-wire (R2W) business model in Brazil. It was the first private-sector power generation company operating in the thermoelectric segment in Brazil with operations that integrate the exploration and production of natural gas, and generation and sale of electricity.

The Simpson Thacher team was led by Grenfel S. Calheiros (Picture) and included Marcelo B. Lorenzen and Daniel A. Malatesta (Capital Markets); and Rob Holo and Sergio A. Torres (Tax).

Involved fees earner: Grenfel Calheiros – Simpson Thacher & Bartlett; Robert Holo – 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: BTG Pactual US Capital, LLC; Citigroup Global Markets Ltd; Itaú BBA USA Securities; Santander Investment Securities Inc.;


Author: Ambrogio Visconti.