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

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.