Several law firms acted on this transaction in which the Special Committee of the Arco Platform acquired shares and delisting of the company by General Atlantic L.P. and Dragoneer Investment Group, LLC.
The transaction was carried out through the execution of a merger agreement between the company and the investors, in which the Investors agreed to acquire all of the company’s outstanding Class A common shares, which are not held by its founders (Oto Brasil de Sá Cavalcante and Ari de Sá Cavalcante Neto), their respective affiliates, or by shareholders who chose not to sell their shares within the scope of said transaction.
The price paid per share was US$ 14, a 55% premium on the value quoted before the transaction was announced, valuing the company at US$ 1.5 billion (around R$ 7.3 billion).
The committee’s legal advisors were Skadden, Arps, Slate, Meagher & Flom LLP (United States); Carey Olsen (Cayman Islands) and BMA Advogados. In the United States, Paul, Weiss, Rifkind, Wharton & Garrison LLP advised General Atlantic and Ropes & Gray LLP advised Dragoneer, which was also advised by Walkers (Cayman Islands) and Mattos Filho.
Arco and its founders relied on Davis Polk & Wardwell LLP (New York and São Paulo), Maples Group (Cayman Islands) and Lobo de Rizzo Advogados.
BMA Advogados had partners Paulo Cezar Aragão (pictured left), Camila Goldberg, Barbara Rosenberg and Camilla Paoletti; associates Adriano Guatimosim, Gabriel Bürgel, Luis Eduardo Al-Contar and Lea Jenner de Faria.
Mattos Filho relied on partners Rodrigo Figueiredo Nascimento (pictured center), Flavio Mifano and Marcio Soares; associates Gustavo Gumier Motta and Melissa Facco.
Lobo de Rizzo Advogados relied on partner Rodrigo Millar de Castro Guerra (pictured right), associate George de Magalhães Carvalho.