Davis Polk drives Localiza Rent a Car equity offering
Law firm Davis Polk & Wardwell advised Brazilian company Localiza Rent a Car on its equity offering of 55.2 million common shares for an aggregate amount of 1.8 billion reais ($481.4 million).
The common shares trade on the São Paulo Stock Exchange.
Headquartered in Belo Horizonte, Localiza Rent a Car is the largest car rental company in Brazil in terms of number of branches, fleet size and gross revenues, according to public market data, comprising a fleet of 222,177 vehicles and 583 directly owned or franchised branches in Brazil and South America.
Davis Polk’s corporate team included Manuel Garciadiaz, Elliot M. de Carvalho and Richard Corbett. Ben Levenback provided tax advice, and J. Taylor Arabian provided Investment Act advice.
The law firm’s members are based in the São Paulo and New York offices.
