Mergers & acquisitions (M&A)

Oct 18Materiais BásicosFundsStocksM&A

Shine I FIP secures voting control of Braskem through debenture-funded tender offer

The Shine I fund acquired 19,983 shares in Braskem, expanding its stake to 226.3 million voting shares, or 50.11% of the voting capital, and 34.33% of total capital. Sellers receive debentures issued by NSP Investimentos rather than cash, while remaining voting shareholders have until November 16, 2026 to trade under the same terms.

BRKM3

• Shine I bought 2,850 voting shares and 17,133 class A preferred shares during the auction.
• Payment is structured as two first-series debentures and one second-series debenture per share.
• Holders of common voting shares retain an extended selling period ending November 16, 2026.

Sources:Money TimesValor EconômicoSeu Dinheiro

Oct 18Capital Markets & M&ATechStocksM&A

Unifique halts going-private tender offer following minority shareholder pushback

Telecom operator Unifique suspended the registration process for its tender offer announced in early October by its controlling shareholder. Minority shareholders challenged the proposed share price for taking the company private, leaving the transaction terms disputed.

• The controlling shareholder had initiated the going-private transaction in early October.
• Minority investors formally questioned the valuation and share price proposed for the buyback.

Sources:Teletime (telecom e tecnologia)Telesíntese (telecom)

Oct 18Investment FundsStocksM&A

XP Malls divests Cidade Jardim stake for R$ 456 million to fund acquisitions and trim debt

Real estate fund XPML11 completed the sale of its 16.99% stake in Shopping Cidade Jardim for R$ 456.3 million, collecting R$ 121.9 million upfront and transferring R$ 151.9 million in debt. The fund simultaneously deployed R$ 70.9 million to buy minority stakes in Shopping Metrô Boulevard Tatuapé and Shopping Metrô Itaquera.

• CADE, Brazil's antitrust authority, approved the Cidade Jardim sale to JHSF Capital SCJ.
• The asset sale yields an estimated capital gain of R$ 133.3 million, or R$ 2.07 per unit.
• Fund debt leverage dropped from 15.6% to 13.1% of net assets following the transactions.

Sources:Funds Explorer (fundos imobiliários)Suno Notícias (FIIs e mercado)fiis.com.br (fundos imobiliários)

Oct 18Capital Markets & M&AStocksM&A

NBA teams revive rival ABA branding to celebrate merger five decades later

Brooklyn Nets, Denver Nuggets, Indiana Pacers and San Antonio Spurs are launching retro uniforms to mark the June 17, 1976 merger that expanded the NBA from 18 to 22 franchises by absorbing four teams from the 11-team ABA.

• San Antonio Spurs will debut the commemorative kit on Nov 4 against the Dallas Mavericks across nine total games.
• Brooklyn Nets scheduled 16 appearances in the retro apparel for the upcoming season.

Sources:Forbes Brasil