International law firm Milbank, Tweed, Hadley & McCloy, LLP, led by Global Securities partners Marcelo Mottesi and Paul Denaro, represented Citigroup Global Markets Inc., J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated, Itau BBA USA Securities Inc. and Credit Suisse Securities (USA) LLC, as underwriters in the follow-on sale of shares of Arcos Dorados Holdings Inc. (“Arcos Dorados”). The underwriters fully exercised their over-allotment option to purchase a total of 44,475, 958 shares from the selling shareholders raising US$978 million.

Arcos Dorados is the world’s largest McDonald’s franchisee with more than 1,700 restaurants throughout Latin America. The company achieved revenues of US$3.0 billion during 2010, with Adjusted EBITA of US$299 million. Arcos Dorados’ restaurants represented 5.1% of McDonald’s global sales in 2010. 

“Milbank is pleased to be involved in this high-profile transaction which underscores Arcos Dorados’ continued growth and profitability track for 2011,” commented Mr. Denaro.

Additional attorneys on the Milbank team included associates Matt Squires, Matt Vidal and Elizabeth Rosado.

Milbank also served as Underwriters’ counsel in the Arcos Dorados’ private placement of R$400 million (US$255 million) Brazilian-real-denominated notes in July 2011, as well as the Arcos Dorados’ US$1.25 billion IPO in April 2011 and US$450 million debt issuance in 2009.