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AltAssets is the private equity news and research service from Almeida Capital
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PRINT THIS PAGE GP Investments to acquire R$259m stake in Brazilian company Estácio12/05/2008. Source: AltAssets. 
Latin American private equity firm GP Investments has agreed to acquire a 20 per cent stake in listed Brazilian educational company Estácio Participações from the founders of the business. The total value of the transaction is R$259m (US$155m), or R$5.50 per share (equivalent to R$16.50 per unit), according to a statement. The firm's GP Capital Partners IV will fund the entire investment.
According to the terms of the shareholder agreement, GP Investments and the founders of Estácio will share control of the company. They will have the right to elect the same number of board members, the right to participate in the selection and hiring of the main executives and their compensation, and the right to approve the annual budget and acquisitions that may be carried out by Estácio.
Estácio is a private post-secondary educational company headquartered in Rio de Janeiro.
GP Capital Partners IV closed on US$1.3bn in autumn of last year. Following the fund closing, the firm opened a new office in Mexico City, headed by GP partner Márcio Tabatchnik Trigueiro.
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