NEW YORK – LAWFUEL – Business + Law News – Allen & Overy has advis…

NEW YORK – LAWFUEL – Business + Law News – Allen & Overy has advised GVT (Holding) S.A., and its subsidiary Global Village Telecom Ltda., a leading facilities-based telecommunications and internet solutions provider in Brazil, in a series of recapitalization transactions culminating in its USD447 million initial public equity offering. GVT’s shares are now listed on the São Paulo Stock Exchange, BOVESPA, under the symbol GVTT3, and the company has also applied to list its shares on the Novo Mercado segment of the BOVESPA.

The sale was conducted as a public offering in Brazil and an offering to institutional investors in the United States and other countries.

“The remarkable acceptance of this IPO by investors is recognition of the great success story that GVT is, and a real vote of confidence in GVT’s management team,” said Thomas Abbondante, the Allen & Overy partner who led the transaction team. “We are very pleased to have had the opportunity to work with GVT over the years and to see them through this milestone event.”

In addition to Mr. Abbondante, the core Allen & Overy team on the IPO transaction included partner and head of the Latin America practice Cathleen McLaughlin, associates Gustavo Benchimol and Shams Mitha, and paralegal Piya Mehra. GVT was also advised as to Brazilian law matters by Pinheiro Neto Advogados.

About GVT

Global Village Telecom is a leading facilities-based telecommunications and internet solutions provider in Brazil, offering a diversified portfolio of innovative products and advanced solutions for the conventional telephony, corporate data, broadband and internet services, and VoIP markets.

This press release is not an offer to sell or a solicitation of an offer to buy, in the United States or elsewhere, any securities of GVT or any of its affiliates. The shares of GVT sold pursuant to its initial offering have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended; and GVT’s securities may not be offered or sold in the United States absent registration or an exemption from registration. Any public offering of securities to be made in the United States may only be made by means of a prospectus that must be obtained from the issuer and that contains detailed information about the company and management as well as financial statements.

For further information, please contact Karen Levin ([email protected]) on +44 20 3088 4341.

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