Davis Polk advised Localiza Rent a Car S.A. in connection with its equity offering of 55,200,000 common shares for an aggregate amount of R$1.8 billion (approximately US$488 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.
Headquartered in Belo Horizonte, Brazil, Localiza Rent a Car is the largest car rental company in Brazil in terms of number of branches, fleet size and gross revenues, according to public market data, comprising a fleet of 222,177 cars and 583 directly owned or franchised branches in Brazil and South America.
The Davis Polk corporate team included Manuel Garciadiaz, Elliot M. de Carvalho
and Richard Corbett. Ben Levenback provided tax advice. J. Taylor Arabian provided Investment Act advice. Members of the Davis Polk team are based in the São Paulo and New York offices.