Gafisa Rejects Zell, GP Offer

Gafisa Rejects Zell, GP Offer

Brazil M&A Funds

Brazilian homebuilder Gafisa has turned down an offer by GP Investimentos and Sam Zell’s Equity International to purchase some of Gafisa’s assets. It does not disclose the amount of the offer or what assets were involved, and officials at Gafisa could not immediately comment on the dealings. The company’s board of directors concluded that the offer from the two private equity funds “significantly undervalues Gafisa’s assets and businesses involved and implies substantial transaction costs and hi

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