SINGAPORE: GIC Private Ltd, Singapore’s sovereign wealth fund, bought an undisclosed stake in Brazilian hospital chain Rede D’Or from investment bank BTG Pactual for 1.6 billion reais (S$687 million), the bank said in a filling on here the other day.
Two sources with knowledge of the transaction told Reuters earlier that GIC had also agreed to buy an equal number of shares from Brazilian businessman Jorge Moll and his family, who founded Rede D’Or, bringing the amount of the deal to 3.3 billion reais. The two operations would give GIC a stake of 16 per cent in the hospital chain, said the sources, who asked for anonymity because the information is private.
Efforts to reach the media offices representing the Moll family and GIC were unsuccessful.
BTG Pactual did not say in the statement what would be its remaining stake in Rede D’Or after the sale.
