Davis Polk advised two DLJ South American Partners investment funds in connection with the sale of a total of 16,561,498 Class A shares of Arcos Dorados Holdings Inc., for approximately US$281 million, in an SEC-registered initial public offering. The selling shareholders also included Capital International Private Equity Fund V, L.P. and Gavea Investment AD, L.P.

DLJ South American Partners is an independent, regionally dedicated private equity fund managed by a group of Latin American investment professionals, with a portfolio of private equity investments primarily focused on Argentina, Brazil and Chile. Headquartered in Buenos Aires, Argentina, Arcos Dorados is the world’s largest McDonald’s franchisee, in terms of system-wide sales and number of restaurants, and the largest quick service restaurant chain in Latin America and the Caribbean, with restaurants in 19 countries and territories. 

The Davis Polk corporate team included partners Nicholas A. Kronfeld and Nancy L. Sanborn and associates H. Oliver Smith, Hildegard Van Zyl and Arvin I. Abraham. The tax team included partner Kathleen L. Ferrell and associates Catherine Paskoff Chang and Nicole P. Field (not yet admitted). All members of the Davis Polk team are based in the New York office. 

A separate Davis Polk team advised Arcos Dorados in connection with its initial public offering.