October 29, 2018 / 3:21 PM / in 18 days

UPDATE 1-Brazil's MRV commercial unit plans to increase capital by $27.5 mln- filing

(Adds transaction details)

SAO PAULO, Oct 29 (Reuters) - Brazilian homebuilder MRV Engenharia SA said it is planning to spin off its commercial properties unit and list it in the stricter corporate governance segment of Brazilian stock exchange B3.

After the listing, MRV plans to increase the capital of subsidiary Log Commercial Properties e Participações SA, it said in a securities filing.

The subsidiary plans to increase its capital by 100 million reais ($27.5 million), according to the filing. The controlling shareholders, the Menin family, have committed to subscribing the capital raise when needed. ($1 = 3.6383 reais) (Reporting by Tatiana Bautzer Editing by Susan Thomas)

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