O BTG Pactual acquired controlling interest in the project Partridge Gardenneighborhood planned by the developer Tecnisa in São Paulo, whose PSV (General Sales Value) exceeds R$5 billion. The slice purchased belonged to the North American manager Hines, which held 42.5% of the stake.
In February, BTG had already offered R$260.9 million for 29.09% that belonged to Windsor, the SPE (Special Purpose Company) responsible for the project.
Before BTG, . With the new acquisition, BTG Pactual assumes controlling interest, with 68.59%
Proportionally, based on the previous operation, BTG may have paid around R$380 million for the American manager’s stake. However, the value was not disclosed.
Despite being the majority, Tecnisa will continue to run the project. The operation still requires approval from Cade (Administrative Council for Economic Defense).
When contacted, BTG Pactual informed that it would not officially take a position. Tecnisa and Hines did not respond until the publication of this report.
