Shearman & Sterling LLP in New York and São Paulo and Brazil's Pinheiro Neto Advogados have helped shareholders in Brazilian airline company Azul sell 1.2 billion reais (US$380 million) worth of shares in two follow-on offerings on the New York and São Paulo stock exchanges.
Citigroup, Deutsche Bank, Itau BBA, Banco do Brasil, Banco Bradesco, Morgan Securities, Raymond James and Santander were underwriters for the offerings, and enlisted Skadden, Arps, Slate, Meagher & Flom LLP and Brazil's Lefosse Advogados.
Both issuances closed on 19 September.
The group of shareholders included Rio Novo, Saleb, WP, Trip Investimentos and Trip Participações.
Other selling shareholders were Maracatu, which hired Jones Day; ZBDR, which hired Moss & Gilmore LLP; and Star Sabia, which turned to Ropes & Gray LLP.
The group sold more than 10 million American depositary shares (ADS) in the international offering. ADS are worth three times the amount of one preferred share. Azul sold 8 million preferred shares in the Brazilian offering.
Shearman and Pinheiro Neto helped Azul Airlines raise 2 billion reais (US$645 million) in its initial public offering in April, in the first dual listing by a Brazilian company on the New York and São Paulo stock markets since 2011.
Counsel to Azul, Rio Novo, Saleb, Star Sabia, WP, ZDBR, Maracatu, Trip Investimentos and Trip Participações
Shearman & Sterling LLP
Partners Stuart Fleischmann and Yoon-Jee Kim and associates Flavio Averbug and Francisco Cebada in New York, and associates Mariana Pacini and Samantha Glover in São Paulo
Pinheiro Neto Advogados
Partners Henrique Lang and Guilherme Monteiro, and associates Gustavo Chauffaille and Julia Campos in São Paulo
Counsel to Citigroup, Deutsche Bank, Itau BBA, Banco do Brasil, Banco Bradesco, Morgan Securities, Raymond James and Santander
Skadden, Arps, Slate, Meagher & Flom LLP
Partners Filipe Areno and Mathias von Bernuth, staff attorney Darius Banani and associates Lauren Bennett, Jairo Lamatina and Julien Apollon in New York
Partners Carlos Mello, Ricardo Prado and Maurício Paschoal and associates Rafael Erlinger, Alícia Alves and Letícia Angel in São Paulo
Counsel to Maracatu
Partner Stephen Gillette in Silicon Valley
Counsel to ZBDR
Moss & Gilmore LLP
Partner Raymond Moss in Atlanta
Counsel to Star Sabia
Ropes & Gray LLP
Associate Benjamin Kozik in San Francisco