Gafisa Considers Alphaville Float

Gafisa Considers Alphaville Float

Brazil Equity

Brazil’s Gafisa is considering floating its Alphaville unit, it says, as it weighs options to unlock value that it claims the market underestimates. The homebuilder would also consider selling a stake in the high-end subsidiary, of which it owns 80%. It has hired to Rothschild and Bain & Company to advise. Alphaville generated average returns of 46% per year during 2007-2011, with project launches quadrupling in that period to BRL972m ($481m). Gafisa bought 60% of the high-income housing unit in

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