Connect DIRECTLY to Brazilian Sellers, Buyers, Agents & Developers
Select Language:

Investment in Brazilian property giant grows after merger

Date added: 5th May, 2010 at 10:16
(view all articles from May, 2010)

Categories: Property News

Stocks and shares in Brazilian real estate developer PDG Reality have risen since the company merged with its rival Agre at the beginning of the week.

Property in Brazil has proven to be a prosperous market for PDG after it focused on low-income housing as part of the government's $41 billion (£27 billion) scheme to provide affordable real estate, Reuters reports.

The $1.4 billion deal will see PDG become Brazil's largest homebuilder, the news provider said, in a year when merger activity in the country has been strong on the back of the fastest economic growth in 25 years.

PDG Reality and Agres said to Reuters: "The association will result in a more efficient corporate structure, with a combined land bank that is complementary on a geographical basis and a range of products that reaches out to all social segments."

Shares in both companies rose after the deal was signed with Agre rising 3.1 per cent on the day. PDG closed at 16.54 reais (£6.19) per share last night (May 4th) after closing at 16.45 reais before the deal, according to Reuters.

The companies have agreed an exchange ratio of 0.495 PDG share to each Agre share.

Related Articles

Property in Brazil 'showing growth'

Property in Brazil is maintaining its profitability despite hikes in the interest rate, Brazil's leading homebuilder Grafisa has said....

Date added: 4th May, 2010 at 10:20
(view all articles from May, 2010)

read more >

Property in Fortaleza is profitable and low-risk, says real estate investor

Property in Fortaleza in North East Brazil is a shrewd investment, according to real estate investor and executive director of Pathfinder Ronan McMahon....

Date added: 30th April, 2010 at 10:45
(view all articles from April, 2010)

read more >

Property in Brazil leads way in global recovery

Commercial property in Brazil has led an upswing in the market this year alongside property in other developing economies, according to the latest Global Commercial Property Survey conducted by the Royal Institution of Chartered Surveyors (Rics)....

Date added: 29th April, 2010 at 14:26
(view all articles from April, 2010)

read more >
View News By Category: Apartments (7)Economy (488)Florianopolis (18)Fortaleza (43)Hotels (51)Islands (8)Joao Pessoa (6)Land (1)Natal (49)Natural Resources (208)Olympics 2016 (39)Property News (248)Rio (64)Salvador (60)Social and Affordable Housing in Brazil (26)Tourism (166)Villas (36)World Cup 2014 (35)
Archived News: August 2011 (13)July 2011 (26)June 2011 (28)May 2011 (26)April 2011 (24)March 2011 (26)February 2011 (26)January 2011 (26)November 2010 (22)October 2010 (26)September 2010 (26)August 2010 (26)July 2010 (26)June 2010 (29)May 2010 (26)April 2010 (26)March 2010 (27)February 2010 (26)January 2010 (27)December 2009 (25)November 2009 (27)October 2009 (26)September 2009 (26)August 2009 (26)July 2009 (26)June 2009 (25)May 2009 (26)April 2009 (26)March 2009 (26)February 2009 (26)January 2009 (26)December 2008 (26)November 2008 (27)October 2008 (24)September 2008 (29)August 2008 (26)July 2008 (39)June 2008 (31)May 2008 (28)April 2008 (29)March 2008 (3)