(Associated Press) September 14, 2010 – Evercore Partners Inc. will buy a 50 percent stake in a Brazilian investment banking boutique and investment management company for $20 million in cash and securities, the investment banking advisory firm said.
The deal for G5 advisors of Sao Paulo comes with performance-based payments through 2013.
G5 advisors will maintain a 50 percent ownership stake, but Evercore could acquire additional assets starting in 2014.
The transaction is targeted to close early next month.
Evercore, based in New York, has offices in Boston, Houston, Los Angeles, San Francisco, Washington D.C., London, Mexico City and Monterrey, Mexico