Davis Polk Advises Cogna Educação on Its R$2.6 Billion Equity Offering

Davis Polk advised Cogna Educação S.A. in connection with its equity offering of 232,358,004 common shares for an aggregate amount of approximately R$2.6 billion (approximately $600 million). The common shares trade on the São Paulo Stock Exchange. Common shares sold in the international offering were placed under Rule 144A and Regulation S.

Cogna Educação is the largest private for-profit educational company operating in Brazil, serving over 866,000 postsecondary students through 176 proprietary postsecondary education units and 1,410 accredited distance learning centers located in all Brazilian states. Cogna Educação also provides core and complementary solutions and digital services within the primary and secondary education business in Brazil, serving over 36,000 students enrolled in 54 proprietary or managed schools, 26,000 students in 125 Red Balloon units and 1.3 million students served by approximately 3,400 associated schools.

The Davis Polk corporate team included Manuel Garciadiaz and Lourenço Lopes-Sabino. The tax team included Lucy W. Farr and M. Jared Sanders. Matthew R. Silver provided 1940 Act advice. Members of the Davis Polk team are based in the São Paulo and New York offices.