Crescera invests in Vitru

Crescera invests in Vitru

Corporate & Sovereign Strategy Equity M&A Brazil Capital Markets

Brazilian private equity firm Crescera Capital has agreed to spend BRL300 million ($55.9 million) to buy a 10.6% stake in distance learning company Vitru, according to a press release. Crescera will acquire at least 3.64 million shares in Vitru, but it could invest another $23 million in a rights offering at a later date and take its total stake to 13.7%. Shares in Vitru sank 15.4% on Wednesday to close at $18.00 on the Nasdaq exchange. Since tying up the BRL3.23 billion acquisition higher educa

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