Rio Fund Takes Piece of Brazil Broadcaster

Rio Fund Takes Piece of Brazil Broadcaster

Funds

Rio-based hedge fund Gavea Investimentos is looking at taking a 15% stake in RBS Comunicacoes, a broadcaster and a Globo affiliate based in the southern Brazilian state of Rio Grande do Sul, say people familiar with the process. The stake is heard worth more than $200m. The company, which reportedly has ties to Gavea senior executives including founder Arminio Fraga, has apparently agreed to the transaction and will look to close by the end of September. RBS is looking to use its platform to exp

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