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Industry News

Brazil’s Gavea Buys Stake in Odebrecht Real-Estate Unit

11 May 2010

(Bloomberg) May 11, 2010 – Gavea Investimentos Ltda., the Brazilian investment firm managed by former central bank President Arminio Fraga, bought a 14.5 percent voting stake in Odebrecht SA’s real-estate unit.

Odebrecht Realizacoes Imobiliarios announced the deal on its website, without disclosing the financial details.

By Laura Price

Visit Odebrecht’s site to read the release in Portuguese.