Gafisa Raises Stake in Alphaville

Gafisa Raises Stake in Alphaville


Brazil homebuilder Gafisa is increasing its stake in peer Alphaville Urbanismo to 80% from 60% and will pay BRL126.5m for the 20% slice, it says. The deal will be structured as a merger with Alphaville unit Shertis Empreendimentos, which will become a unit of Gafisa. Gafisa, meanwhile, will issue 9.8m common shares that will be given to Alphaville. This transaction is actually the second stage of an agreement between the companies dating back to 2006. Gafisa acquired a 60% stake in the company f

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