Clifford Chance in New York and São Paulo has advised Brazilian development bank BNDES on a $5.2 billion offering of shares in Brazilian state oil company Petrobras, marking the biggest equity sale from the South American country in 10 years.
The shares were sold both in Brazil and New York as BNDES continues its asset divestiture plans. Clifford Chance said the Petrobras offering, which closed Feb. 10, was the largest follow-on equity offering in 2020 to date globally. Partner Anand Saha led the Clifford Chance team.
