Cleary Gottlieb represented long-standing client Petróleo Brasileiro S.A. (Petrobras) and Caixa Econômica Federal (Caixa), as selling shareholder, in a global secondary offering of 241.34 million of Petrobras’ common shares, including common shares represented by common ADSs.
The offering consisted of an SEC-registered international offering of common shares and common ADSs in the United States and other countries outside Brazil and a concurrent public offering of common shares in Brazil. The offering priced on June 25, 2019, and closed on June 28, 2019. The aggregate proceeds of the global offering to Caixa were approximately $1.9 billion.
The firm has represented Petrobras for many years in significant SEC reporting, corporate governance, financing, and litigation matters.