Qatar Holdings’ Sale of 40 pct of Santander Brasil stake for $896 million


Pinheiro Neto, Davis Polk & Wardwell, Lefosse, Shearman & Sterling, Cleary Gottlieb Steen & Hamilton and Mattos Filho, Veiga Filho, Marrey Jr. e Quiroga have advised on the deal

Qatar Holdings LLC has put as many as 80 million units of Banco Santander Brasil SA up for sale, liquidating 40 percent of its position after shares have more than doubled over the past year. In a Tuesday securities filing, Santander Brasil, the No. 3 private-sector bank, said the offering of units will be underwritten by its investment banking unit as well as Bank of America Corp and Credit Suisse Group AG. Santander Brasil units correspond to a blend of one common and one preferred share in the bank, a division of Spain’sBanco Santander SA.

At current prices, the offering could raise as much as 2.8 billion reais ($896 million) for Qatar Holdings, an investment firm controlled by the Gulf state’s government, if it chooses to exercise an additional allotment of 12 million units. Qatar Holdings, an investor in Santander Brasil for nearly seven years, said it expects to remain the second largest shareholder of Santander Brasil after the sale. In an emailed statement, Qatar Holdings said it intends to sell approximately 40 percent of its 5.5 percent stake in Santander Brasil.

Cleary Gottlieb Steen & Hamilton LLP has advised Qatar Holding LLC with David Gottlieb (Picture), Gamal M. Abouali, Lynn Ammar, Lawale Ladapo and Reem Gasir.

Mattos Filho, Veiga Filho, Marrey Jr. e Quiroga has advised Qatar Holding LLC with Jean Marcel Arakawa and Felipe Rezende Kachan.

Pinheiro Neto Advogados has advised Banco Santander Brasil S.A. with José Luiz Homem de Mello, Guilherme Sampaio Monteiro, Alessandra Rossi Martins, Ana Cecília Viegas Madasi, Luiz Felipe Fleury Vaz Guimaraes, Luis Guilherme Camargo Vergueiro and Amanda Sterenberg.

Davis Polk & Wardwell LLP has advised Banco Santander Brasil S.A. with Nicholas A. Kronfeld, Po Sit, Katia Brener, Sarah E. Kim, Julia Danforth, Lourenço Lopes-Sabino, Zoey Yi, Mahalia S. Burfor and Jennifer Wang.

Lefosse Advogados has advised Banco Santander Brasil, Bank of America Merrill Lynch and Credit Suisse with Carlos Mello, Rodrigo Junqueira, Ricardo Prado, Rafael Erlinger, Vicente Gioielli and Matheus Maiotto.

Shearman & Sterling LLP has advised Banco Santander Brasil, Bank of America Merrill Lynch and Credit Suisse with Stuart K. Fleischmann, Flavio Averbug, Brian Bishop and Charles Zamiskie.

Involved fees earner: Jean Marcel Arakawa – Mattos Filho Veiga Filho Marrey Jr & Quiroga; Felipe Rezende Kachan – Mattos Filho Veiga Filho Marrey Jr & Quiroga; Carlos Barbosa Mello – Lefosse; Rodrigo Azevedo Junqueira – Lefosse; Ricardo Prado – Lefosse; Rafael Erlinger – Lefosse; Vicente Gioielli – Lefosse; José Luiz Homem de Mello – Pinheiro Neto; Guilherme Sampaio Monteiro – Pinheiro Neto; Alessandra Carolina Rossi Martins – Pinheiro Neto; Ana Cecília Viegas Madasi – Pinheiro Neto; Luiz Felipe Fleury Vaz Guimaraes – Pinheiro Neto; Luis Guilherme Vergueiro da Silva – Pinheiro Neto; Nicholas Kronfeld – Davis Polk & Wardwell; Katia Brener – Davis Polk & Wardwell; Sarah Kim – Davis Polk & Wardwell; Julia Danforth – Davis Polk & Wardwell; Lourenço Lopes-Sabino – Davis Polk & Wardwell; Zuo Yi – Davis Polk & Wardwell; Jennifer Wang – Davis Polk & Wardwell; Po Sit – Davis Polk & Wardwell; Mahalia Burford – Davis Polk & Wardwell; Stuart Fleischmann – Shearman & Sterling; Flavio Averbug – Shearman & Sterling; Alexandre Charles – Shearman & Sterling; Brian Bishop – Shearman & Sterling; David Gottlieb – Cleary Gottlieb Steen & Hamilton; Gamal Abouali – Cleary Gottlieb Steen & Hamilton; Lynn Ammar – Cleary Gottlieb Steen & Hamilton; Lawale Ladapo – Cleary Gottlieb Steen & Hamilton; Reem Gasir – Cleary Gottlieb Steen & Hamilton;

Law Firms: Mattos Filho Veiga Filho Marrey Jr & Quiroga; Lefosse; Pinheiro Neto; Davis Polk & Wardwell; Shearman & Sterling; Cleary Gottlieb Steen & Hamilton;

Clients: Bank of America Merrill Lynch; Credit Suisse; Qatar Holding; Banco Santander Sa; Banco Santander Brazil;

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Author: Michael Patrini.