Clifford Chance

Clifford Chance advises on Positivo Tecnologia's EdTech private placement

Leading global law firm Clifford Chance represented the bookrunners, BTG Pactual, Bradesco BBI and XP Investimentos, on Positivo Tecnologia S.A.'s Rule 144A/Regulation S initial private placement of 54 million common shares, raising approximately R$350 million.

Positivo Tecnologia is a Brazilian technology company and one of the largest computer manufacturers in Brazil, with over 30 years of manufacturing and operating experience in the country. It is a leading player in Brazil's education technology sector with products in more than 14,000 Brazilian schools and imports to more than 40 countries.

The Clifford Chance team was led by partner Anand Saha, co-head of the Americas Tech Group, and São Paulo-based counsel Patrick Jackson. Associate Teo Pastor, staff attorney Mariana Urban and trainee Sophie Scholl, all based in São Paulo assisted on the transaction. New York-based partner Avrohom Gelber advised on tax issues.

Clifford Chance has been recognized for decades as a preeminent law firm in Latin America and was the first international law firm to open an office in São Paulo. The Firm has led way in developing successful, novel financing structures for a diverse client-base, and is constantly innovating its service offering, such as with a dedicated Latin America group specialized in capital markets, bank and project financing structures representing initial purchasers, underwriters, issuers and investors. The Firm's lawyers have extensive experience in the region's distinct business, legal and regulatory landscapes. They provide expertise that cuts across a full range of relevant practices, while aligning pioneering solutions with the unique characteristics of the Latin American market and the changing needs of clients.

In addition, the Firm's dedicated Tech Group offers clients, wherever they are located and whatever industries they operate in, a new approach to meeting their tech challenges by breaking down traditional law firm practice area boundaries. The Group is an integrated multidisciplinary team of over 400 tech-savvy lawyers located around the world delivering holistic, joined up, expert legal advice to both tech and non-tech clients on their most exciting, complex and transformational tech-related matters.