CHICAGO, Aug 02, 2011 (BUSINESS WIRE) —
Equity
International (EI), the privately held investor and builder of
world-class companies outside of the United States, announced today the
culmination of its investment in Gafisa
S.A.
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, a leading national homebuilding
company in Brazil. During 2011, EI sold the remaining 2.7% of its total
23.4% ownership in Gafisa, the final in a series of sales commencing in
2007.
EI made its original investment in the Sao Paulo-based homebuilder in
2005. In collaboration with GP Investimentos, Equity International led
the transformation of Gafisa into Brazil’s first national homebuilder,
active in all income segments and listed on the Bovespa (2006) and New
York Stock Exchange (2007). Gafisa remains the only NYSE-listed real
estate company in Brazil. The Company was established more than 50 years
ago as a diversified real estate development and construction company,
and has completed over 1,000 projects comprising 12 million square
meters. Since 2005, the Company has focused exclusively on homebuilding
and led the consolidation of the industry through the acquisition of
preeminent community developer Alphaville and publicly held affordable
homebuilder Tenda. Today, Gafisa is building homes in over 100 cities
throughout Brazil principally in the affordable and middle-income
segments. The Company has an equity market capitalization of US$2.1
billion and US$70 million of combined daily liquidity on the Bovespa and
NYSE.
“Gafisa represents EI’s first investment in Brazil and we have been
exceedingly pleased with the success of our investment and our
partnership,” said Gary Garrabrant, chief executive officer of Equity
International. “Gafisa has become the standard-bearer for public
companies in Brazil, and we leave the Company extremely well-positioned
in one of the most dynamic real estate sectors in Brazil. We are
confident that Duilio and his team will enjoy continued success in the
future.”
“EI has been an exceptional partner and supporter of Gafisa for the past
six years,” said Alceu Duilio Calciolari, chief executive officer of
Gafisa. “We are fortunate to have benefited from their tremendous
knowledge and expertise which have helped transform Gafisa into an
industry leader.”
Following this sale, EI has five portfolio companies in Brazil and
continues to look to expand its presence in the country. “EI was an
early entrant in Brazil and we have long been ardent investors. Our
enthusiasm remains as high as ever and we look forward to expanding our
Brazilian portfolio in current as well as new sectors,” added Mr.
Garrabrant. “As an institutional investment management company, we will
continue to invest, build and monetize our portfolio company ownership
interests in the normal course of our activity.”
About Equity International
Equity International invests in and builds world-class companies outside
the United States, with a particular focus on identifying and initiating
high-growth sectors in the most compelling emerging markets. Founded in
1999 by Sam Zell and Gary Garrabrant, EI is recognized as a leading
international investor and partner of choice, distinguished by an
outstanding reputation, global capability and industry-leading portfolio
companies. EI has invested over $1 billion in 20 portfolio companies
to-date. For more information, please visit
www.equityinternational.com .
About Gafisa
Gafisa is a leading diversified national homebuilder serving all
demographic segments of the Brazilian market. Established more than 57
years ago, the Company has completed and sold more than 1,000
developments and built more than 12 million square meters of housing,
more than any other residential development company in Brazil.
Recognized as one of the foremost professionally managed homebuilders,
Gafisa is also one of the most respected and best-known brands in the
real estate market, recognized among potential homebuyers, brokers,
lenders, landowners, competitors and investors for its quality,
consistency and professionalism. Gafisa’s preeminent brands include
Tenda, serving the affordable/entry-level housing segment, and Gafisa
and Alphaville, which offer a variety of residential options to the mid-
to higher-income segments. Gafisa S.A. is traded on the Novo Mercado of
the BMFBOVESPA and on the New York Stock Exchange
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.
SOURCE: Equity International
Equity International
Allison T. Davis, 001.312.466.3625
adavis@equityinternational.com
Copyright Business Wire 2011
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