BUENOS AIRES, Argentina,
April 20, 2011 /PRNewswire/ -- Arcos
Dorados Holdings Inc. ("Arcos Dorados") (NYSE: ARCO) announced
yesterday the closing of its underwritten initial public offering
of 84,506,788 class A shares at a price to the public of
$17.00 per share. The underwriters
exercised their over-allotment option in full, thereby increasing
the number of shares sold by 11,022,624 class A shares. The shares
are traded on the New York Stock Exchange under the symbol
"ARCO."
Arcos Dorados sold 9,529,412 class A shares and certain selling
shareholders sold 74,977,376 class A shares, including 11,022,624
class A shares sold to the underwriters pursuant to the
underwriters' over-allotment option.
Arcos Dorados received approximately $152.3 million in net proceeds from the offering,
after deducting underwriting discounts and commissions and
estimated offering expenses. Arcos Dorados intends to use the net
proceeds for capital expenditures such as opening and reimaging
restaurants.
"We are very appreciative of the positive response to our IPO,"
said Woods Staton, Chairman and Chief Executive Officer. "Our
management team, board of directors and the entire Arcos Dorados
crew deeply respects the trust our shareholders have placed in our
company and our strategy, and we take very seriously our
responsibility to consistently deliver value to all our
stakeholders."
BofA Merrill Lynch, J.P. Morgan, Morgan Stanley, Itau BBA and
Citi acted as joint bookrunners for the offering.
A registration statement relating to this offering was declared
effective by the United States Securities and Exchange Commission
on April 8, 2011.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy nor shall there be any sale of
these securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
About Arcos Dorados
Arcos Dorados is the world's largest McDonald's franchisee, in
terms of systemwide 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.
For
information please contact:
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Investors:
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Press:
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Sofia Chellew
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Flavia Vigio
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Arcos Dorados - Director,
Investor Relations
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Arcos Dorados - VP,
Communications
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sofia.chellew@ar.mcd.com
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flavia.vigio@br.mcd.com
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(+5411)
4711-2515
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Latin America
press:
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Andrea Pontes
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S2Publicom
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andrea.pontes@s2publicom.com.br
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(+55 11)
4195-3388
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U.S. and Europe
press:
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Courtney Harper
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Reputation
Partners
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courtney@reputationpartners.com
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(+1 312)
819-5722
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SOURCE Arcos Dorados Holdings Inc.