BTG sells partial stake in BR Properties

BTG sells partial stake in BR Properties

Brazil M&A

BTG Pactual sold a 21.29% stake in Brazilian property manager BR Properties for BRL463.1m ($117m) at an auction last week, it said. The company could sell its remaining 14.58% stake in the New Year, it said. BTG and BR Properties declined to comment on the buyer.  Last week, investment fund GP Investments launched a tender offer to gain a controlling stake in BR Properties. GP Investments was present at the BTG auction, a source at GP told LatinFinance, but did not disclose if it participat

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