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Industry News

Equity International Raises $245M from BR Malls

15 July 2010

(Reuters) July 15, 2010 – American billionaire Sam Zell’s Equity International investment fund said it had raised about $245 million selling shares of Brazilian shopping mall operator BR Malls Participacoes.

Equity International, which also has a stake in Brazil’s second largest listed homebuilder Gafisa, said it had sold 18.2 million stocks of the company.

It still had a stake of about 6 percent in BR Malls, the company said in a statement.

By Cesar Bianconi