GEM Fund Laps up Brazil Milk

GEM Fund Laps up Brazil Milk

Bonds

The Global Yield Fund of New York-based private equity firm GEM has agreed to invest up to BRL120m to acquire shares of Brazil’s Laep Investments via a private placement, the latter says in a regulatory filing with Brazil’s securities commission, without specifying how many shares this could entail. GEM’s fund also has the option to acquire an additional 30m shares at BRL3.00 per share. Proceeds will be used to strengthen Laep’s working capital. Laep has a market cap of BRL409m and 162,431 outst

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