Mitre R$1.05 billion Initial Public Offering

Davis Polk advised the joint bookrunners in connection with the initial public offering by Mitre Realty Empreendimentos e Participações S.A. and the selling shareholder of 54,545,454 common shares for an aggregate amount of R$1.05 billion (approximately $247.8 million). The common shares trade on the São Paulo Stock Exchange. Securities in the international offering were placed under Rule 144A and Regulation S.

Mitre is a Brazilian real estate development and construction company with the largest return on average equity of the sector, as well as a sales speed significantly above than São Paulo city market and the highest asset turnover ratios among publicly-listed real estate companies in Brazil.

The Davis Polk corporate team included Manuel Garciadiaz and Elliot M. de Carvalho. The tax team included Alon Gurfinkel and Ben Levenback. Members of the Davis Polk team are based in the São Paulo, London and New York offices.