Several law firms advise on Compass Gás IPO
Pinheiro Neto, Mattos Filho, Davis Polk and Skadden advised on the transaction which Compass Gás e Energia completed its initial public offering on B3’s Novo Mercado segment, pricing 100,892,857 common shares at R$28.00 per share and raising approximately R$2.8 billion (around US$575 million). The transaction was structured entirely as a secondary offering, meaning all proceeds flowed to the selling shareholders rather than to the company itself.
The offering was conducted by a group of existing shareholders, including Cosan, investment funds affiliated with Atmos (Atmos Ilíquidos 1, Atmos Institucional Master, Atmos Sol and Atmos Terra), Bradesco Vida e Previdência, Brasil Capital CMPS I Master, Manaslu LLC – Banco BTG Pactual, Manzat Inversiones and Ricardo Ernesto Correa da Silva. Shares began trading on B3 under the ticker PASS3, with ISIN code BRPASSACNOR7.
The offering was managed by a syndicate of banks including BTG Pactual Investment Banking, Bank of America Merrill Lynch Banco Múltiplo, Banco Bradesco BBI, Citigroup Global Markets Brasil, Itaú BBA Assessoria Financeira, Banco Santander (Brasil), Banco J.P. Morgan, XP Investimentos, Banco BNP Paribas Brasil and UBS BB Corretora de Câmbio, Títulos e Valores Mobiliários.
Pinheiro Neto Advogados advised the issuer, Cosan and Brasil Capital. The team was led by partner Guilherme Sampaio Monteiro (pictured top left), alongside senior associate Julia Barbosa Campos, associates Gabriela Kaneshiro Pereira, Henrique Sampaio Hennies da Costa and Paulo Machado de Carvalho Filho, and law clerks Lucas Consentino and Jordanna Zancaneli.
Mattos Filho advised the underwriters, with a team comprising partner Vanessa Fiusa (pictured top right), associates Gabriela Costa Rabelo, Mariana Collar Amaral, Laryssa Martins Galvan and Vitória Souza Brentegani.
Davis Polk & Wardwell advised the issuer and Cosan, with partner Manuel Garciadiaz (pictured bottom left), counsel Lourenço Lopes-Sabino and associate Caio Moliterno de Morais.
The Skadden team includes Corporate partner Filipe Areno (pictured bottom right)(New York and São Paulo), counsel Lauren Bennett (São Paulo), associates Karina Cardozo De Oliveira (São Paulo) and Vitor Horta (São Paulo), and international visiting professional Daniella Betti (New York); Tax partner Victor Hollender (New York) and associate Travis Nix (New York); and Executive Compensation and Benefits counsel Jeffrey Lieberman (New York).
