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Tuesday, October 14, 2014

Brazilian steakhouse Fogo de Chão taps banks for IPO -sources, (NYSE: JPM)

Fogo de Ch�o, the Brazilian steakhouse restaurant chain known for its all-you-can-eat meat tableside service, has hired underwriters for a potential initial public offering (IPO), according to people familiar with the matter. JPMorgan Chase & Co and Jefferies Group LLC have been assigned lead roles in the IPO, which may come next year and value the company, owned by takeover firm Thomas H. Lee Partners LP, at as much as $1 billion, including debt, the people said on Tuesday.The sources asked not to be identified because the matter is confidential. Fogo de Ch�o, JPMorgan and Jefferies declined to comment, while Thomas H. Lee did not immediately respond to a request for comment.Based in Dallas, Texas, Fogo de Ch�o has locations throughout Brazil and the United States.Fogo de Ch�o was founded in 1979 in Brazil's Porto Alegre by brothers Jair and Arri Coser. It expanded to the U.S. in 1997 and is now known for its meats which are roasted over pits of open fire in a technique called churrasco.

JPMorgan Chase & Co. (JPMorgan Chase) is a financial holding company. Shares of JPM fell by 0.29% or $-0.17/share to $57.99. In the past year, the shares have traded as low as $51.30 and as high as $61.85. On average, 13360900 shares of JPM exchange hands on a given day and today's volume is recorded at 27601588.