Previ unloads stake in Paranapanema

Previ unloads stake in Paranapanema

Equity Capital Markets Corporate & Sovereign Strategy M&A Brazil

Previ, the pension fund for employees of the state-owned lender Banco do Brasil, has sold its 19.8% stake in the local copper company Paranapanema to Grupo Buritipar for an undisclosed amount. Buritirama, a mining subsidiary of Buritipar, has purchased the 137m shares to go along with the 9% stake it already owned in Paranapanema, the copper producer said in a securities filing. It added that the transaction is still subject to approval from Brazil's anti-trust agency CADE. João José Oliveira de

Already have an account?

Free trial

Take a free two-week trial now for the latest news, data and market analysis.

Free Trial