BR Properties, a Brazilian property developer, will incorporate the real estate assets of BTG and the bank’s WTorre Properties SA unit, BTG said in an e-mailed statement today.
In the new merged company, BR Properties shareholders will have 58.1 percent of the total capital, while BTG will have 30.8 percent, according to the statement. WTorre will have 8.4 percent and the remaining 2.7 percent stake will be held by other investors, BTG said.
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