Davis Polk advises on Minerva tender offer
US law firm Davis Polk & Wardwell has advised the dealer managers in connection with Minerva Luxembourg’s offer to purchase for cash any and all of its $291.1 million of outstanding 8.75 per cent perpetual notes.
Minerva Luxembourg is a debt issuing vehicle, incorporated in 2011 and based in Luxembourg, and operates as a subsidiary of Brazilian company Minerva Foods, one of South America’s largest exporters of fresh and frozen beef and other cattle products.
The aggregate principal amount of the notes settled in the tender offer was US$216.97 million, or 75.48 per cent of the outstanding notes, excluding those held by the company, with the total final amount paid by Minerva of $224,506,281.65
The Davis Polk corporate team included Manuel Garciadiaz, Drew Glover and Lourenco Lopes-Sabino. Rachel D. Kleinberg, Catherine L. Chu, while Joseph M. Gerstel provided tax advice.
The members of the Davis Polk team engaged are based in the São Paulo, Northern California and New York offices.
