{"id":21458,"date":"2020-08-06T20:44:09","date_gmt":"2020-08-06T20:44:09","guid":{"rendered":"https:\/\/www.lavca.org\/advent-to-exit-brazilian-home-improvement-retailer-quero-quero-via-ipo-for-up-to-r1-9b\/"},"modified":"2020-08-06T20:44:09","modified_gmt":"2020-08-06T20:44:09","slug":"advent-to-exit-brazilian-home-improvement-retailer-quero-quero-via-ipo-for-up-to-r1-9b","status":"publish","type":"post","link":"https:\/\/www.lavca.org\/advent-to-exit-brazilian-home-improvement-retailer-quero-quero-via-ipo-for-up-to-r1-9b\/","title":{"rendered":"Advent to Exit Brazilian Home Improvement Retailer Quero-Quero via IPO for up to R$1.9b"},"content":{"rendered":"

Advent International has agreed to sell its 88% stake in Brazil-based home improvement retailer Lojas Quero-Quero via the company\u2019s IPO for up to R$1.9b. Advent originally invested R$300m in the company in 2008.<\/em><\/p>\n

(Reuters<\/a>) Brazilian home improvement retailer Lojas Quero-Quero SA concluded on Thursday an initial public offering that may raise 2.2 billion reais ($412.64 million), according to a securities filing.<\/p>\n

Quero-Quero is controlled by a fund managed by U.S. private equity firm Advent International Corp since 2008. Both the company and the fund sold shares in the offering.<\/p>\n

The retailer priced its shares at 12.65 reais each, at the mid-point of an indicated range.<\/p>\n

The private equity firm, which has operated in Brazil since 1997, plans to raise up to 1.9 billion reais with the full sale of its 88% stake in Quero-Quero, depending on the complete exercise of an overallotment of shares.<\/p>\n

Quero-Quero raised 280 million reais to invest in new distribution centers and increase cash.<\/p>\n

Besides being a home improvement retailer with 353 stores in Brazil\u2019s southern region, Quero-Quero also offers its clients financial services such as credit cards.<\/p>\n

Investment banking units of BTG Pactual, Bank of America, Itau Unibanco, Bradesco, Banco do Brasil and broker Easynvest managed the offering. ($1 = 5.3315 reais) (Reporting by Carolina Mandl and Paula Laier; Editing by Leslie Adler and Muralikumar Anantharaman)<\/p>\n","protected":false},"excerpt":{"rendered":"

Advent International has agreed to sell its 88% stake in Brazil-based home improvement retailer Lojas Quero-Quero via the company\u2019s IPO for up to R$1.9b. Advent originally invested R$300m in the company in 2008. (Reuters) Brazilian home improvement retailer Lojas Quero-Quero SA concluded on Thursday an initial public offering that may raise 2.2 billion reais ($412.64Continue reading “Advent to Exit Brazilian Home Improvement Retailer Quero-Quero via IPO for up to R$1.9b”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[26],"tags":[],"acf":[],"yoast_head":"\nAdvent to Exit Brazilian Home Improvement Retailer Quero-Quero via IPO for up to R$1.9b - LAVCA<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.lavca.org\/advent-to-exit-brazilian-home-improvement-retailer-quero-quero-via-ipo-for-up-to-r1-9b\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Advent to Exit Brazilian Home Improvement Retailer Quero-Quero via IPO for up to R$1.9b - LAVCA\" \/>\n<meta property=\"og:description\" content=\"Advent International has agreed to sell its 88% stake in Brazil-based home improvement retailer Lojas Quero-Quero via the company\u2019s IPO for up to R$1.9b. Advent originally invested R$300m in the company in 2008. (Reuters) Brazilian home improvement retailer Lojas Quero-Quero SA concluded on Thursday an initial public offering that may raise 2.2 billion reais ($412.64Continue reading "Advent to Exit Brazilian Home Improvement Retailer Quero-Quero via IPO for up to R$1.9b"\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.lavca.org\/advent-to-exit-brazilian-home-improvement-retailer-quero-quero-via-ipo-for-up-to-r1-9b\/\" \/>\n<meta property=\"og:site_name\" content=\"LAVCA\" \/>\n<meta property=\"article:published_time\" content=\"2020-08-06T20:44:09+00:00\" \/>\n<meta name=\"author\" content=\"dystrick\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@lavca_org\" \/>\n<meta name=\"twitter:site\" content=\"@lavca_org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"dystrick\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.lavca.org\/advent-to-exit-brazilian-home-improvement-retailer-quero-quero-via-ipo-for-up-to-r1-9b\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.lavca.org\/advent-to-exit-brazilian-home-improvement-retailer-quero-quero-via-ipo-for-up-to-r1-9b\/\"},\"author\":{\"name\":\"dystrick\",\"@id\":\"https:\/\/www.lavca.org\/#\/schema\/person\/c2aca6233792370eb0c8be5b3e3b0278\"},\"headline\":\"Advent to Exit Brazilian Home Improvement Retailer Quero-Quero via IPO for up to R$1.9b\",\"datePublished\":\"2020-08-06T20:44:09+00:00\",\"dateModified\":\"2020-08-06T20:44:09+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.lavca.org\/advent-to-exit-brazilian-home-improvement-retailer-quero-quero-via-ipo-for-up-to-r1-9b\/\"},\"wordCount\":227,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/www.lavca.org\/#organization\"},\"articleSection\":[\"Industry News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.lavca.org\/advent-to-exit-brazilian-home-improvement-retailer-quero-quero-via-ipo-for-up-to-r1-9b\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.lavca.org\/advent-to-exit-brazilian-home-improvement-retailer-quero-quero-via-ipo-for-up-to-r1-9b\/\",\"url\":\"https:\/\/www.lavca.org\/advent-to-exit-brazilian-home-improvement-retailer-quero-quero-via-ipo-for-up-to-r1-9b\/\",\"name\":\"Advent to Exit Brazilian Home Improvement Retailer Quero-Quero via IPO for up to R$1.9b - 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