PDG Realty Approves BRL800 Million Investment Offer from Vinci Partners (Latin America)

Source: PDG Realty

The board of Brazilian homebuilder PDG Realty has approved a plan proposed by local private equity firm Vinci Partners to raise BRL800 million (approximately US$390 million) through an issue of new warrants. Investment funds controlled by Vinci Partners could acquire up to 81.4 percent of the new shares issued as part of the plan, which is subject to shareholder approval. In a separate transaction, O Estado de São Paulo reports Vinci Partners has also acquired 70 percent of Brazilian ceramics company Cecrisa for BRL250 million (approximately US$122 million). The Cecrisa acquisition is Vinci Partners’ fifth investment made through the US$1.4 billion Brazil-focused buyout fund it raised in 2011.