Shearman And Sterling

News February 06, 2019

Localiza’s Rule 144A/Regulation S Offering

Shearman & Sterling advised BTG Pactual U.S. Capital, Itau BBA USA Securities, Merrill Lynch, Pierce, Fenner & Smith and J.P. Morgan Securities as international placement agents in connection with the Rule 144A/Regulation S follow-on offering of 55.2 million common shares of Localiza Rent a Car, the largest car rental company in Brazil in terms of number of branches, fleet size and gross revenues.

The offering generated gross proceeds to Localiza of R$1.8 billion (US$492.1 million). The shares were offered to a limited number of professional investors in Brazil and under Rule 144A/Regulation S internationally. The company is listed on the Novo Mercado segment of the São Paulo Stock Exchange (B3 S.A. – Brasil, Bolsa, Balcão) under the symbol “RENT3”.

The Shearman & Sterling team below was supported by associate Diana Balassiano.

The Team