Gafisa exits Alphaville

Gafisa exits Alphaville

M&A Equity Brazil

Brazil's Gafisa said it has sold its remaining 21.2% stake in the local property development company Alphaville Urbanismo to the co-owner Pátria Investimentos for BRL100m ($24.6m).Gafisa previously sold 70% of Alphaville to funds managed by Pátria and Blackstone for BRL1.4bn in 2013. Blackstone transferred its 35% share to Pátria in April this year. Blackstone bought 40% of Pátria in October 2010.Pátria is now the sole owner of Alphaville, paying for the increased stake with a credit offset and

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