Shearman & Sterling advised the international placement agents in connection with the initial public offering of 174.8 million common shares of Rede D’Or São Luiz S.A. (Rede D´Or), the largest independent private hospital network in Brazil.
This is the largest IPO in Brazil since 2013, and one of the three largest IPOs ever in Brazilian B3.
The IPO raised R$11.4 billion (approximately US$2.2 billion) in primary and secondary offerings. Rede D’Or plans to use the proceeds from the primary offering in the construction of new hospitals and/or expansion of existing facilities, and for the acquisition of new assets (hospitals, oncology clinics, health insurance brokers, among others).
The Shearman & Sterling team below also included attorney Gabriela Laufer and visiting attorney Gabriela Cerqueira.