(Bloomberg) August 30, 2010 – GP Investments, Latin America’s largest private-equity fund, said San Antonio International Ltd. reached an agreement with creditors to restructure $626 million in debt, according to a yesterday regulatory filing.

San Antonio, a Brazilian oil and gas services provider, is holding a private placement of $112 million, the statement said.

After the private placement, GP may increase its stake in San Antonio to as much as 22.4 percent from 17.2 percent, according to the statement.

By Francisco Marcelino