Skadden Pioneers Novel Private Placement in Brazil

Skadden represented Valid Soluções e Serviços de Segurança em Meios de Pagamento e Identificação S.A. in connection with its $100 million follow-on offering of common shares under Rule 144A/Regulation S, with a simultaneous offering in Brazil under Rule 476 of the Brazilian Securities Commission. In this first-of-its-kind offering in Brazil under Rule 476, Skadden pioneered a novel private placement exemption from the registration requirements of Brazilian securities law.