PRESS RELEASE
2 June 2023

Shearman & Sterling Wins Latin Lawyer’s Capital Markets Deal Of The Year For $6.9 Billion Eletrobras Privatization

AO
A&O Shearman

Contributor

A&O Shearman was formed in 2024 via the merger of two historic firms, Allen & Overy and Shearman & Sterling. With nearly 4,000 lawyers globally, we are equally fluent in English law, U.S. law and the laws of the world’s most dynamic markets. This combination creates a new kind of law firm, one built to achieve unparalleled outcomes for our clients on their most complex, multijurisdictional matters – everywhere in the world. A firm that advises at the forefront of the forces changing the current of global business and that is unrivalled in its global strength. Our clients benefit from the collective experience of teams who work with many of the world’s most influential companies and institutions, and have a history of precedent-setting innovations. Together our lawyers advise more than a third of NYSE-listed businesses, a fifth of the NASDAQ and a notable proportion of the London Stock Exchange, the Euronext, Euronext Paris and the Tokyo and Hong Kong Stock Exchanges.
Shearman & Sterling was awarded Latin Lawyer’s Capital Markets Deal of the Year for its work advising BNDES Participações S.A. – BNDESPar...
United States

Shearman & Sterling was awarded Latin Lawyer's Capital Markets Deal of the Year for its work advising BNDES Participações S.A. – BNDESPar, a subsidiary of Brazilian state-owned development bank BNDES, as selling shareholder in the US$6.9 billion offering of shares issued by Centrais Elétricas Brasileiras S.A. (Eletrobras), the largest electric power generation and transmission company in Latin America. The transaction was the largest Brazilian privatization in two decades, the second-ever largest equity offering in Brazil and the second-largest share offering in the world in 2022.

The transaction also marked the first-ever Brazilian privatization executed through a public offering. As part of the privatization and corporate reorganization of Eletrobras, the transaction resulted in the carve out of two new subsidiaries, the renewable energy group Itaipú and state-owned Eletronuclear.

The Latin Lawyer awards were announced on May 12.

The Team

Contributor

A&O Shearman was formed in 2024 via the merger of two historic firms, Allen & Overy and Shearman & Sterling. With nearly 4,000 lawyers globally, we are equally fluent in English law, U.S. law and the laws of the world’s most dynamic markets. This combination creates a new kind of law firm, one built to achieve unparalleled outcomes for our clients on their most complex, multijurisdictional matters – everywhere in the world. A firm that advises at the forefront of the forces changing the current of global business and that is unrivalled in its global strength. Our clients benefit from the collective experience of teams who work with many of the world’s most influential companies and institutions, and have a history of precedent-setting innovations. Together our lawyers advise more than a third of NYSE-listed businesses, a fifth of the NASDAQ and a notable proportion of the London Stock Exchange, the Euronext, Euronext Paris and the Tokyo and Hong Kong Stock Exchanges.

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