September 19, 2019
Brazil's MRV Engenharia said it has interrupted plans to buy a stake in the US real estate company AHS Residential to hear concerns from shareholders.
The Belo Horizonte-based homebuilder has stuck with its its recommendation to spend $200m to $250m for 20% of AHS, but the company's share prices have slumped since it announced the potential deal on September 3. Shares in MRV dropped 2.31% on Wednesday to close at BRL18.22 ($4.43).
MRV has given shareholders until September 24 to submit comments
Brazilian homebuilder gives shareholders until September 24 to voice concerns about a proposed deal to buy 20% of AHS for up to $250m