(Dow Jones) June 15, 2010 – The controlling shareholder of recently listed Brazilian information technology firm Tivit Terceirizacao de Processos, Servicos e Tecnologia S.A. (TVIT3.BR) will buy out a minority stake in the company and delist from Brazil’s Novo Mercado, the company said Tuesday.
In a statement made to Brazil’s CVM securities and exchange commission, Tivit said controlling shareholder Dethalas Empreendimentos e Participacoes plans to make an offer for outstanding shares of the company at 18.10 Brazilian reals (BRL10.11) per share.
In May, Dethalas acquired a controlling stake in Tivit by purchasing 54.25% of the company’s shares to add to equity already held. Dethalas said that to delist it would need to acquire a remaining 43.04% stake.
Dethalas is owned by the U.S.-based private equity firm Apax Partners.
Tivit, which was formed in 2004, offers technological support and data centers for major companies operating in Brazil, including Itau-Unibanco (ITUB4.BR), Mitsubishi, TAM Airlines (TAMM3.BR) and others.
Tivit was listed on the Novo Mercado segment of Brazil’s BM&F Bovespa exchange by former controlling shareholder Grupo Votorantim in September 2009 following a share offer valued at BRL661 million.
By Gerald Jeffris, Dow Jones Newswires