Unidas Gets BRL300m Equity Investment

Unidas Gets BRL300m Equity Investment

Bonds Corporate & Sovereign Strategy Brazil M&A Funds

Three private equity firms invested a total of BRL300m ($189m) in Brazilian car rental company Unidas in exchange for a 47% stake in the company, according to an announcement on the CVM. Unidas reported Ebitda of around BRL160m in 2010 according to Pedro de Almeida, head of investor relations, which would imply a valuation multiple of around 4x EV/Ebitda. Kinea Investimentos, Vinci Capital Gestora de Recursos and Gavea Investimentos are each investing BRL100m and will take equal stakes in the co

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