(Brazil Journal) General Atlantic was the major buyer of Locaweb in a block trade at the end of today’s trading session, people familiar with the matter told the Brazil Journal .
An unidentified shareholder put up for sale a lot of shares equivalent to 4. 9% of the company’s capital.
The original block of 29.2 million shares gre,v to 34.9 n1illion with market interference and came out at R$7.
GA had already bought a share of the market in recent weeks.
At a meeting with investors in Sao Paulo a month ago, rviartin Escobari, GA’s co-president and head of the n1anager’s investn1ents in Latin America, said that the stock exchange was cheap compared to the private market, where GA does most of its their investments – but where entrepreneurs still insist on raising capital in the valuations of months ago.