CBA and Votorantim in Secondary Offering of CBA Common Shares

April 11, 2022

Cleary Gottlieb represented Companhia Brasileira de Alumínio (CBA) and selling shareholder Votorantim S.A. (Votorantim) in a secondary offering of CBA common shares.

Votorantim raised approximately R$904 million with the sale of 47.6 million common shares. The offering was launched with a fixed price of R$19 per share on April 6, 2022, and closed on April 11, 2022. The shares were offered in the United States to qualified institutional buyers pursuant to Rule 144A under the Securities Act and to non-U.S. persons outside the United States pursuant to Regulation S under the Securities Act.

The international placement agents were BTG Pactual, BofA, Bradesco BBI, UBS, Citigroup, Itaú BBA, and J.P. Morgan.

CBA is a Brazilian aluminum company that operates from bauxite mining to the production of primary and semi-fabricated aluminum products, as well as recycling activities.