Brazilian Real Estate Co. Vetoes Zell Fund-Led Asset Bid

Law360, New York (February 29, 2012, 4:33 PM EST) -- Leading Brazilian real estate company Gafisa SA has rejected a preliminary offer from an investment group led by Chicago-based Equity International — billionaire Sam Zell's real estate-focused private equity fund — to purchase part of the company, Gafisa said Wednesday in a regulatory filing.

The Sao Paulo-based homebuilder confirmed Feb. 2 that it had received an offer from Equity International and Brazilian private equity firm GP Investimentos Ltd., both of which are Gafisa stakeholders. The firm then created a special committee of board members and financial...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.