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Azul makes 1.2 billion reais secondary offering

Por: Latin LawyerImprimirVisualizar em PDF

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

Lefosse Advogados

Partners Carlos Mello, Ricardo Prado and Maurício Paschoal and associates Rafael Erlinger, Alícia Alves and Letícia Angel in São Paulo

Counsel to Maracatu

Jones Day

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

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