GP Investments Ltd, the largest listed Latin
American private equity firm, paid 450 million reais ($225
million) for a 30 percent stake in Brazil's Grupo SBF, a holding
company that controls all of Lojas Centauro, the country's
biggest sports retailer. In a securities filing late on
Thursday, GP said that it will commit $150 million from its GP
Capital Partners V LP fund, with the remainder of the funds
coming from other, unnamed partners.
Fersen Lamas Lambranho, co-chief executive officer for the
Hamilton, Bermuda-based private equity firm, said that the SBF
stake purchase is a step towards investing in retailing ahead of
Brazil hosting the World Cup in 2014 and the 2016 Olympics. The
transaction is subject to board and regulatory approvals.