Cleary Gottlieb advised Merrill Lynch, Bradesco Securities, Itau BBA USA Securities, JP Morgan Securities and Santander Investment Securities, the international placement agents, on the primary and secondary equity offering of Camil Alimentos.
Camil is one of the largest consumer packaged goods companies in the food industry in Brazil. It is headquartered in Sao Paulo and also has operations in Uruguay, Chile and Peru.
The offering raised approximately 1.15 billion reais (over $355 million) in gross proceeds and consisted of primary and secondary offerings of an aggregate of 127.5 million common shares, which were priced at 9 reais per share.
The offering was registered before the Brazilian Securities and Exchange Commission (Comissão de Valores Mobiliários – CVM). 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.
Partners Francesca Odell in NY and Juan Giráldez in Sao Paulo led the Cleary team advising the banks.