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ADIA in deal to buy stake in Brazilian property group

by Andrea Waitrovich

GP Investments, a Latin America-based private equity firm, is in talks to purchase a 70 percent in Brazilian real estate company BR Properties, according to a securities filing. GP Investments made a $470 million offering toTHB JV S.à.rl, an indirect subsidiary of the Abu Dhabi Investment Authority. Before the offer, Brazilian investment bank BTG Pactual was a leading shareholder in BR Properties and owned 35 percent of BR Propertiesthe firm. BTG Pactual is selling assets in an attempt to shore up its liquidity in the wake of concerns raised by the Nov. 25, 2015, arrest of its former chairman and principal shareholder André Esteves, according to

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