Machado Meyer and Pinheiro Neto act on R$3.98bn follow-on from Lojas Renner

Pinheiro Neto Advogados advised Lojas Renner and Machado Meyer advised the underwriters

Machado Meyer acted as legal advisor to the underwriters Banco Itaú BBA S.A., Banco BTG Pactual S.A., Banco J.P. Morgan S.A., Banco Morgan Stanley S.A., Banco Santander (Brasil) S.A., preparing all the documents required for the public offering of 102,000,000 common shares issued by Lojas Renner S.A., with restricted placement efforts, pursuant to CVM Instruction 476, in Brazil and abroad.

The new shares in Lojas Renner’s subsequent offer were priced at R$ 39 each, after the conclusion of the bookbuilding procedure. With this, the operation moved R$ 3.978 billion with the sale of 102 million shares.

Pinheiro Neto advised Lojas Renner, which will use the follow-on funds to develop and strengthen the company’s fashion and lifestyle ecosystem through organic and inorganic initiatives, as well as other services, such as the construction of a new distribution center and the expansion of physical stores.

Machado Meyer advised the underwriters with a team formed by partners Gustavo Secaf Rebello (pictured left), Eliana Chimeti (pictured centre), and lawyers Rafael Erlinger, Matheus Ishigaki, and Renata Passos.

Pinheiro Neto Advogados’ partners representing Lojas Renner were partner Guilherme Sampaio Monteiro (pictured right) and associates Henrique Tetsuaki Matsura Misawa and Cristina Liu.

White & Case LLP also acted in this deal.