{"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":"\n