Shearman & Sterling advised Brazilian bank Banco do Brasil on U.S. law in a $1.4 billion secondary share offering, while Cleary Gottlieb Steen & Hamilton represented the underwriters.

The government-controlled Banco do Brasil, the largest bank in Brazil by assets, and shareholder FI-FGTS sold 132 million common shares in a $1.4 billion offering that closed Tuesday. The bank has a Miami office.

A Cleary Gottlieb corporate team, led by partner Francesca Odell, represented underwriters Caixa Econômica Federal, Banco do Brasil, Credit Suisse, Itau BBA, JPMorgan and XP. Lawyers based both in São Paulo and New York pitched in, with Mattos Filho, Veiga Filho, Marrey Jr. e Quiroga Advogados assisting underwriters in matters of Brazilian law.