Brazilian residential construction and real estate group Gafisa could sell luxury residential subsidiary Alphaville Urbanismo to US investment group Blackstone and local private equity firm Patria Investimentos, WSJ has reported.
Earlier this year Gafisa rejected a takeover offer from Latin American private equity firms GP Investimentos and Equity International.
Gated community developer Alphaville could fetch as much as BRL2bn ($948m), the report said.
Blackstone took a 40 per cent stake in firm Patria Investimentos back in September 2010 for around $200m. Previously the firm had an agreement with Blackstone to partner for Brazilian deals, though this had not yet yielded any transactions at that time.
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