Gafisa to split with Tenda as Duilio bids farewell

Gafisa to split with Tenda as Duilio bids farewell

M&A

Brazilian homebuilder Gafisa said on Friday that it would split operations with Tenda, a firm that it partly acquired in 2008 and took full ownership of the following year. Gafisa, which builds residential properties for medium and high income Brazilians, said the synergies with Tenda, which targets the low-income market, were “minimal”. The break-up would allow the companies to move faster and develop more appropriate capital structures, it said. The separation is the final move for chief execu

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