Reuters: Financial Services and Real Estate: Gafisa sets maximum price for 20 pct 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 sets maximum price for 20 pct Alphaville stake Jun 2nd 2012, 01:36 Fri Jun 1, 2012 9:36pm EDT * Alphaville stake worth max. 368.7 mln reais-Gafisa RIO DE JANEIRO, June 1 (Reuters) - Brazilian homebuilder Gafisa SA set a maximum price of 368.7 million reais ($180.1 million) for the 20 percent of its high-income Alphaville Urbanismo SA housing unit that it doesn't already own, the company said in a note to securities regulators. The price is subject to small additional adjustments under Gafisa's 2006 agreement to buy Alphaville, Gafisa said. Gafisa bought 60 percent of Alphaville in 2006 and raised its stake to 80 percent in 2010. Details of how Gafisa will purchase the final 20 percent have not yet been worked out, Andre Bergstein, Gafisa's chief financial officer, said in the statement. Gafisa fell 7.69 percent in Sao Paulo trading Friday, its second-biggest one-day drop this year, to 2.40 reais, an all-time low.

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