The pair are said to be up against other investors for a 20 to 25 per cent stake according to newspaper Valor Economico.
Abril parent company Abrilpar Participações hired investment banks Itaú BBA and BTG Pactual to help explore “potential strategic opportunities” according to a securities filing on Tuesday, Reuters added.
It said the stake on offer is owned by the Civita family, which currently holds 45.9 per cent of the company’s stock.
The family asked for 45 reais per unit, the newspaper said, 58 per cent more than Tuesday’s closing price at 28.50 reais.
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