Kinea to Invest USD52 Million in Wiser Educação
Posted On: 15 Apr 2019 | Source(s): Reuters | Author(s): Gabriela Mello
Kinea Investimentos, the alternative asset management subsidiary of Brazil-based financial services group Itaú, has agreed to acquire a 20 percent stake in Brazil-based foreign language education group Wiser Educação for BRL200 million (approximately USD52 million). Wiser’s existing shareholders Flávio Augusto da Silva and Carlos Wizard Martins will each reportedly receive BRL65 million (USD17 million) in proceeds from the transaction. Kinea will also make a primary capital injection of BRL70 million (USD18 million) to support the company’s growth. The transaction is subject to regulatory approval.