Brazil’s BTG Pactual sells its Rede D’Or stake for $616 million

Rogerio Jelmayer and Luciana Magalhaes – Dow Jones Business News, 12/02/2015

Troubled Brazilian investment bank BTG Pactual SA on Wednesday said it sold its remaining 12% stake in the local hospital operator Rede D’Or São Luiz for 2.38 billion reais ($616 million) to Singapore’s sovereign- wealth fund GIC Pte. Ltd.

BTG and Rede D’Or’s controlling shareholder–the Moll family–sold a 16% stake in the hospital group to GIC in May.

The move comes as BTG is trying to raise cash following last Wednesday’s arrest of André Esteves, its controlling shareholder, as part of Brazil’s largest-ever corruption investigation. Mr. Esteves remains jailed in Rio de Janeiro.

Read more…

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s