Reuters logo
Brazil's Gafisa agrees to sell Tenda stake as IPO plan founders
December 14, 2016 / 11:31 AM / 10 months ago

Brazil's Gafisa agrees to sell Tenda stake as IPO plan founders

SAO PAULO, Dec 14 (Reuters) - Brazil’s Gafisa SA has agreed to sell a minority stake in Construtora Tenda SA in a private deal following the collapse of a planned initial public offering for its low-cost homebuilding subsidiary.

In a securities filing on Wednesday, Gafisa said it agreed to sell up to 30 percent of Tenda to Jaguar Growth Asset Management LLC at a price of 8.13 reais per share. The deal values Tenda at 539 million reais ($161 million), according to the filing.

$1 = 3.3378 reais Reporting by Guillermo Parra-Bernal; editing by David Clarke

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below