Travel Agent Set for IPO

Travel Agent Set for IPO

Brazil Equity

CVC Brasil Operadora e Agencia de Viagens is scheduled to price an IPO today targeting more than BRL700m ($294m). Books were at around deal size as of Wednesday afternoon, according to people following the sale. The Brazilian travel services provider is offering 38.8m secondary shares, assuming a 15% greenshoe, at BRL18.00-22.00 each, meaning a BRL776m deal at the midpoint. The base deal represents 26.02% of the company. US private equity firm Carlyle, invested in CVC since 2009, is selling 64%

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