A fund managed by BTG Pactual invested BRL12.8b (~USD2.4b) for a 58% stake in Brazil-based fiber optic company V.tal. GIC recently invested BRL2.2b (~USD421m) in the fund. The deal is subject to regulatory approval.
(Nasdaq) SAO PAULO, Sept 14 (Reuters) – Singapore’s state investor GIC Pte Ltd GIC.UL is investing $421 million into a Banco BTG Pactual BPAC3.SA private equity fund that controls Brazilian fiber optic company V.tal, financial blog Brazil Journal reported on Tuesday.
Brazilian telecom operator Oi SA OIBR4.SA sold a 58% in the fiber optics company to the fund 12.8 for billion reais and has retained a 42% stake.