Simpson Thacher recently represented Morgan Stanley & Co. Incorporated, BTG Pactual US Capital Corp., J.P. Morgan Securities LLC and HSBC Securities (USA) Inc., as placement agents in connection with the initial public offering of common shares of Brasil Insurance Participações e Administração S.A. The common shares were offered to the public in Brazil, to qualified institutional buyers in the United States under Section 4(2) of the Securities Act and to non-U.S. persons under Regulation S. The transaction raised R$644.6 million (approximately US$381.4 million) in proceeds.
Brasil Insurance Participações e Administração S.A. owns 27 insurance brokerage companies in nine states throughout Brazil, selling a broad range of insurance products, including health, dental, auto and high risk insurance. Brasil Insurance expects to use the proceeds from the offering for the acquisition of brokerage companies, customer portfolios or distribution channels.
The Simpson Thacher team for this transaction included S. Todd Crider, Jaime Mercado, Thiago Spercel, Gustavo Pinto and Carolina Nomura (Capital Markets – Brazil); Jonathan Cantor and Chang Won Choi (Tax); Jeanne Annarumma (Executive Compensation and Employee Benefits); and Lisa Wallis (paralegal – Brazil).
