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