Van Campen Liem assisted Sommerville Investments B.V., a subsidiary of Singapore’s sovereign wealth fund Temasek Holdings Ltd, one of the selling shareholders, in connection with the initial public offering of 106,538,469 shares in the capital of BK Brasil Operação e Assessoria a Restaurantes S.A. (“BK Brasil”) on the São Paulo Stock exchange (B3) at a public offering price of R$18.00 per share, the top of the price range.
The offering raised R$886 million (approximately US$268 million) in gross proceeds to BK Brasil and R$1,032 million (approximately US$312 million) in gross proceeds to the selling shareholders. The shares began trading on the B3 under the ticker symbol “BKBR3” on December 18, 2017.
BK Brasil is the master franchisee of Burger King Corporation in Brazil, holding exclusivity rights to manage and develop the BURGER KING® brand in the country. In the year ended December 31, 2016, BKB net operating revenue totaled R$1,393.3 million, representing a compound annual growth rate, or CAGR, of 53.6% since 2012.
The Van Campen Liem team consisted of Cees Kersten, Edwin Liem, Gert-Jan Smit and Pepijn van Egmond.