SÃO PAULO—Brazilian investment bank BTG
Pactual SA said on Thursday that Singapore's sovereign-wealth fund
GIC Pte. Ltd. has agreed to buy an undisclosed stake in local
hospital operator Rede D'Or São Luiz.
BTG said GIC will pay 1.6 billion Brazilian reais ($508 million)
for its shares in Rede D'Or.
According to local media, GIC agreed to acquire a total stake of
15.3% in Rede D'Or for 3.2 billion Brazilian reais, with the
company's founding Moll family and BTG selling equal stakes.
A BTG spokesman declined to provide further details on Thursday.
GIC and Rede D'Or representatives weren't immediately available for
comment.
After the deal is complete, the Moll family will hold a 60.4%
stake in Rede d'Or and BTG will have a stake of around 15%,
according to local media.
In April, private-equity firm Carlyle Group LP said it was
investing 1.75 billion Brazilian reais for a 8.3% stake in Rede
D'Or.
Rede d'Or is the largest independent hospital operator in
Brazil, with a presence in Rio de Janeiro, São Paulo,
Pernambuco and Brasília. It currently has over 4,500
beds in 27 owned and two managed hospitals, in addition to 30
oncology clinics.
Write to Rogerio Jelmayer at rogerio.jelmayer@wsj.com
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