Gafisa Sells Control of Alphaville

Gafisa Sells Control of Alphaville

Brazil M&A

Brazilian homebuilder Gafisa has agreed to sell a 70% stake of its Alphaville unit to private equity firms Blackstone Real Estate Advisors and Patria Investimentos for BRL1.41bn ($660m), it says, opting for a sale instead of an IPO. The amount is based on a total valuation for the high-end residential developer of BRL2.01bn. Blackstone and Patria will maintain the existing Alphaville management team, led by Marcelo Willer, and Gafisa will have two out of six seats on the board. To complete the s

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