Reuters: Financial Services and Real Estate: Gafisa to issue shares to buy Alphaville stake

Reuters: Financial Services and Real Estate Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

Gafisa to issue shares to buy Alphaville stake Jun 6th 2012, 23:31 June 6 | Wed Jun 6, 2012 7:31pm EDT June 6 (Reuters) - Brazilian homebuilder Gafisa will issue shares to help finance the purchase of the remaining 20 percent stake in its high-income housing unit Alphaville Urbanismo SA that it does not already own, the company said in a note to the securities regulator. The company will issue 70.25 million shares, worth 149.6 million Brazilian reais ($74.14 million) at Wednesday's closing price of 2.13 reais for its stock traded in Sao Paulo on the BM&F Bovespa. Gafisa said it had finalized a price of 358.9 million reais for the outstanding 20 percent stake, meaning the share offer will provide less than half of that. Gafisa bought 60 percent of Alphaville in 2006 and raised its stake to 80 percent in 2010. ($1 = 2.0177 Brazilian reals) (Reporting by Fabio Couto; Writing by Peter Murphy; Editing by Phil Berlowitz)

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