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Brazil’s PDG Realty to create local giant with purchase

Posted on 05 May 2010

From Dow Jones: Brazilian real estate investment company PDG Realty (PDGR3.BR) will create a local giant player with the acquisition of its local rival Agre Empreendimentos Imobiliarios SA.
Later Monday, PDG announced an agreement to acquire Agre in a deal worth 2.49 billion Brazilian reals ($1.44 billion). PDG said it will for pay the acquisition through an issue of 148 million shares. On Monday, PDG’s share closed at BRL16.77 on the Sao Paulo Stock Exchange, the BMFBovespa……………………………………..Full Article: Source


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