Deals
Brazil’s CVC Falls Most on Record as Carlyle, Founder Sell Stake
- Two biggest shareholders will make secondary offer for stocks
- Travel services agency was worst performer among small caps
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Brazilian travel services agency CVC Brasil Operadora & Agencia de Viagens SA slumped the most on record Thursday after saying shareholders Carlyle Group LP and founder Guilherme Paulus will sell a combined stake of about 45 percent in the company.
The tourism operator slumped 16 percent to 21.1 reais at 12:07 p.m. in Sao Paulo, the biggest drop since it started trading in December 2013. It was the worst performer on the BM&FBovespa Small Cap index, which lost 1.2 percent.