November 17, 2017 / 11:51 AM / in a month

Mubadala makes binding offer for majority stake in Brazil's Invepar

SAO PAULO, Nov 17 (Reuters) - Abu Dhabi’s Mubadala Development Co PJSC has made a binding offer for a majority stake in Brazilian infrastructure company Invepar SA involving injecting capital and buying shares held by pension funds, Invepar said in a securities filing on Friday.

The transaction, which would give Mubadala a 50.1 percent stake if completed, would involve buying shares from the Petros, Funcef and Previ pension funds and the conversion of preferred Invepar shares into common shares.

Reuters first reported on Mubadala’s talks to buy an Invepar stake in February. (Reporting by Brad Haynes; editing by Jason Neely)

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