Analysts Like WTorre, BTG Deal

Mar 18, 2011

Equity analysts approve of BTG’s acquisition of around 70% of WTorre’s property portfolio. “I see it as a win-win,” says one Sao Paulo-based equity analyst covering the property development sector. “Walter Torre was really out of luck with the IPO. The company was really leveraged.” BTG is said to be acquiring the assets for BRL1.8bn, and assuming BRL1.7bn in debt. According to local press reports, BTG will form a new vehicle consisting of the majority of WTorre’s property assets, which it values at around BRL5.3bn. According to a report in Valor Economico, the deal will consists of a 50% stake in its Ventura property, a 40% stake in the...

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