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Latham & Watkins Advises on Strategic Investments of US$200 Million in Latin America’s Despegar.com

August 24, 2020
Members of the firm’s Latin America Practice represented the financial advisors to Despegar.com, the leading online travel agency in the region.

Despegar.com (the Company), the leading online travel agency in Latin America, has announced that it has entered into a private placement with an affiliate of L Catterton Latin America in which Despegar will issue and sell non-convertible preferred stock plus warrants to purchase ordinary shares for an aggregate purchase price of US$150 million. Despegar.com also announced that it has entered into a private placement with Waha Capital through which it will issue and sell series B preferred shares convertible into ordinary shares for an aggregate purchase price of US$50 million. The Company intends to use the proceeds from both transactions for general corporate purposes, including potential acquisitions.

Latham & Watkins LLP represented Citigroup and Morgan Stanley, financial advisors to Despegar, in both transactions with a corporate deal team led by Latin America Practice partner Roderick Branch, with associates Jonathan Sarna and Angel Marcial.