August 10, 2017 |
Log Commercial Properties is readying a BRL308.47m ($98m) equity
capital increase to pay down debt and help fund the construction and expansion
of existing assets it owns.
The Brazilian property company’s existing stakeholders will
subscribe to 64.87m shares and majority shareholder MRV Engenharia will pick up
the lion’s share.
Homebuilder MRV currently holds 39.9% of Log and will
inject BRL209.29m in the capital increase, picking up 29.79m of the shares on
offer and take its overall st
Brazilian property developer’s shareholders will inject almost $100m to reduce debt and fund the construction of assets the company already holds