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Brazilian oil company Petro Rio has raised circa $364.3 million in its first follow-up offering of 29.7 million common shares. Petro Rio has made a number of significant acquisitions over the last two years and is now Brazil’s largest oil company after state-run Petroleo Brasileiro SA.
Linklaters (New York and Sao Paulo) and Cescon, Barrieu, Flesch & Barreto Advogados (CBFB) represented the company, with CBFB assisting with the drafting and negotiation of documents and the due diligence process.
