STXNEWS LATAM-Goldman Sachs cuts stake in Brazil's Gafisa

Mon Aug 26, 2013 9:32am EDT

Goldman Sachs Group Inc has sold 12.47 million common shares of Brazilian homebuilder Gafisa SA, reducing its ownership stake in the company to 3.2 percent, according to a securities filing on Monday.

Goldman Sachs previously held a 5.23 percent stake in Gafisa, according to the homebuilder's web site.

With the sale, Goldman Sachs no longer qualifies as holding a "relevant share" of Gafisa according to Brazilian securities regulations, the filing said.