Simpson Thacher advised Burger King Brazil on Sao Paulo IPO
Simpson Thacher acted for Burger King Brazil on its debut offer at the São Paulo Stock Exchange, which raised 886 million reais (approximately $268 million).
Burger King Brasil Operação e Assessoria a Restaurantes(BKB) is the master franchisee of Burger King in Brazil, holding exclusivity rights to manage and develop the brand in the country.
The shares were offered to certain qualified institutional buyers under Rule 144A in the United States, and to non-U.S. persons outside the United States in reliance upon Regulation S. The shares began trading on the São Paulo Stock Exchange under the ticker symbol BKBR3 on December 18, 2017.
The Simpson Thacher team included partners Grenfel S. Calheiros and Todd Crider.