Grupo Carrefour Brasil $1.4 Billion IPO

Davis Polk advised the joint bookrunners in connection with the initial public offering by Atacadão S.A. (“Grupo Carrefour Brasil”) and the selling shareholders of 297,143,842 common shares for an aggregate amount of approximately R$4.5 billion (approximately US$1.4 billion). The common shares trade on the São Paulo Stock Exchange. The securities sold in the international offering were placed under Rule 144A and Regulation S. 

Headquartered in São Paulo, Grupo Carrefour Brasil is the leading Brazilian food retailer in terms of sales and the only Brazilian non-franchised retail chain with a national footprint, selling food and non-food products in more than 150 cities in all 26 states of Brazil and the Federal District of Brazil. 

The Davis Polk corporate team included Maurice Blanco and Konstantinos Papadopoulos. Mario J. Verdolini provided tax advice. Jeanine P. McGuinness provided OFAC/sanctions advice. Members of the Davis Polk team are based in the São Paulo, New York and Washington DC offices.