Templeton Emerging Markets Closed Fund logo

EMF - Templeton Emerging Markets Closed Fund News Story

$19.31 -0.3  -1.3%

Last Trade - 20/04/21

Sector
Financials
Size
Market Cap £n/a
Enterprise Value £n/a
Revenue £n/a
Position in Universe th / 6852

Zell's Equity International to invest $125 mln in BTG Pactual's Estapar

SAO PAULO, Aug 8 (Reuters) - Sam Zell's fund Equity 
International is investing $125 million to get an undisclosed 
stake in Brazilian parking lot operator Estapar Participações 
SA, which is controlled by investment bank Grupo BTG Pactual, 
the companies said in a statement Monday. 
    The proceeds will be used by the operator to fund expansion. 
    "This new capital injection will allow us to expand our 
portfolio, including infrastructure operations in airports, 
sports arenas and private, long-term contracts," André Iasi, 
chief executive at Estapar, said in the statement.  
    Equity International will have one board seat at Estapar, 
joining controlling shareholder BTG Pactual and funds Templeton 
Emerging Markets and Bozano Investimentos. Last year, BTG 
Pactual had a 68 percent stake in Estapar. 
    Brazilian investment bank Grupo BTG Pactual  BBTG11.SA  has 
been selling assets since November 2015 to protect cash and 
regain confidence among customers and clients.  
    Founder André Esteves was arrested in November in the 
widest-ever corruption investigation in Brazil, and released one 
month later. He is charged with obstructing a corruption probe 
at state-controlled oil company Petróleo Brasileiro SA and in 
April, Esteves, who has repeatedly denied any wrongdoing, 
returned to Latin America's largest independent investment bank 
in a senior advisory role.  urn:newsml:reuters.com:*:nL2N17U240 
($1 = 3.1887 Brazilian reais) 
 
 (Reporting by Tatiana Bautzer; Editing by Bill Trott) 
 ((Tatiana.Bautzer@thomsonreuters.com; +55 11 5644 7756; Reuters 
Messaging: tatiana.bautzer.thomsonreuters.com@reuters.net)) 
 
Keywords: BTG PACTUALSA ESTAPAR M&A/EQUITY INTERNATIONAL
© Stockopedia 2021, Refinitiv, Share Data Services.
This site cannot substitute for professional investment advice or independent factual verification. To use it, you must accept our Terms of Use, Privacy and Disclaimer policies.