GIC buys Abril stake

GIC buys Abril stake

M&A

Singaporean sovereign wealth fund GIC has bought 18.5% of Brazilian education firm Abril Educacao, the pair said last week. The acquisition value was undisclosed but is likely to have come at around BRL600m ($265m), based on the company’s share price on Thursday last week. GIC bought the 16.13m units from four Brazilian investment funds through its Pacific Mezz Investco vehicle. BR Educacional FIP sold 3.65m units, FIP Brasil de Governance Corporativa sold 4.12m, Polar FIP sold 4.18m units and F

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