Singapore's GIC takes 18.5 pct stake in Brazil education firm April

SINGAPORE Thu Aug 14, 2014 8:45pm EDT

SINGAPORE Aug 15 (Reuters) - Singapore sovereign wealth fund GIC said on Friday it has acquired an 18.5 percent stake in Brazilian education services company Abril Educacao SA .

GIC did not say how much it paid for the stake in Abril, a leading player in Brazil's primary and secondary education market. Based on Abril's latest closing share price, the stake is worth about $265 million.

Funds managed by Brazilian buyout firm Tarpon Investimentos <SA TRPN3.SA> in June also took a significant stake in Abril.

GIC has recently stepped up investments in Latin America, recently buying a stake in Brazilian online sports goods retailer Netshoes. It also opened an office in Brazil earlier this year.

(Reporting by Saeed Azhar; Editing by Kenneth Maxwell)

Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.