Focus Energia’s R$773 Million Initial Public Offering

Cleary Gottlieb represented Morgan Stanley, Santander, Citigroup and UBS, as international placement agents, in the offering. Simpson Thacher represented Focus Energia on the deal.Focus Energia Holding Participações S.A. (Focus Energia) executed its initial public offering. The offering raised approximately R$773 million in gross proceeds and included both primary and secondary offerings. The offering was registered before the Brazilian Securities and Exchange Commission (Comissão de Valores Mobiliários – CVM), and the shares were offered in the United States to qualified institutional buyers pursuant to Rule 144A under the Securities Act and to non-U.S. persons outside the United States pursuant to Regulation S under the Securities Act.

Focus Energia is an integrated business platform for the electricity sector with customers and operations throughout Brazil and in various sectors of the economy.

The Cleary corporate team advising the international placement agents included partner Juan Giráldez (Picture), counsel Jonathan Mendes de Oliveira, associate Silvia Fittipaldi (all from the São Paulo office), and New York based international lawyer Rosane Carmona. Counsel J.J. Gifford and law clerk Drew Schaefer provided tax advice from the New York office.

The Simpson Thacher team included S. Todd Crider, Grenfel S. Calheiros, Marcelo B. Lorenzen and Alexandre Portnoi (Capital Markets); and Jonathan Cantor and Suzy Yaster (Tax).

Involved fees earner: Silvia Fittipaldi – Cleary Gottlieb Steen & Hamilton; Jonathan Gifford – Cleary Gottlieb Steen & Hamilton; Juan Giráldez – Cleary Gottlieb Steen & Hamilton; Jonathan Mendes de Oliveira – Cleary Gottlieb Steen & Hamilton; Grenfel Calheiros – Simpson Thacher & Bartlett; Jonathan Cantor – Simpson Thacher & Bartlett; Todd Crider – Simpson Thacher & Bartlett; Marcelo Lorenzen – Simpson Thacher & Bartlett; Alexandre Portnoi – Simpson Thacher & Bartlett; Susan Yaster – Simpson Thacher & Bartlett;

Law Firms: Cleary Gottlieb Steen & Hamilton; Simpson Thacher & Bartlett;

Clients: Citigroup Global Markets Ltd; Focus Energia; Morgan Stanley; Santander; UBS;

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