Mattos Filho and Pinheiro Neto act in IRB-Brasil’s FPO
Mattos Filho advised IRB-Brasil Resseguros on its primary public follow-on offering of common shares, with restricted placement efforts, pursuant to CVM Instruction 476, and with placement efforts abroad.
The company issued 1,200,000,000 common shares, in book-entry form and with no par value, free and clear of any liens or encumbrances, for a price per share set at R$ 1.00; as a consequence, the total amount raised was R$1,2 billion.
Pinheiro Neto Advogados advised the underwriters in Brasil.
The raising was conducted primarily to enable the company to meet minimum capital and solvency requirements set by the SUSEP, the insurance/reinsurance regulator in Brazil.
Mattos Filho was Brazilian counsel to IRB Brasil Resseguros and relied on partner Jean Marcel Arakawa, associates Gabriela Castro Rabelo and Luiz Fernando Fessel Levoto.
Hogan Lovells was U.S. counsel to the company and relied on partner Isabel Costa Carvalho, associates Sina R. Hekmat, David Contreiras Tyler, Felipe Lacerda, Cíntia Rosa, Ana Laura Pongeluppi, Adriana Castanon and Lizandra Baptista.
Pinheiro Neto Advogados was Brazilian counsel to the Brazilian underwriters and the international placement agents, and relied on partner Guilherme Sampaio Monteiro, senior associate Paula Regina F Rodrigues, associate Mateus Camarotti, Taisa Sani, Elena Carrasco, Rodrigo Urrutia, legal assistante Pedro Prazeres and legal intern Beatriz Marani.
Clifford Chance was U.S. counsel to the Brazilian underwriters and the international placement agents and had partner Patrick Jackson in São Paulo and partner Jon Zonis in New York, staff attorneys Igor Freire and Victoria Weaver and trainee Caitlin Prasad in São Paulo. Partner Avrohom Gelber and associate Sharon Yu in New York provided tax advice.
