New User:

Forgot your password?

Stock Market & Financial Investment News

News Breaks
February 7, 2014
10:46 EDTGFAGafisa S.A. studying separation into two independent companies
Gafisa S.A. disclosed that its board of directors has authorized the company’s management to initiate studies for a potential separation of the Gafisa and Tenda business units into two independent publicly traded companies. The separation would be the next step in a comprehensive plan initiated by management to enhance value creation for the company and its shareholders. The companies have distinct strategic, operational and optimal financing profiles. Gafisa is a well-established operation, focused on the medium to high income classes, with a proven business model and a leadership position in its target markets of São Paulo and Rio de Janeiro. Tenda recently re-initiated launches under a new business model and is one of the few companies operating within the Level 2 segment of the Federal Government sponsored “Minha Casa Minha Vida” program, a segment with high growth potential. Additionally, the current synergies between the companies are minimal, Gafisa said. The board intends to evaluate the separation studies in the following months, analyzing possible alternatives for structuring and execution that take into consideration a number of factors, including legal and fiscal, that are in the best interest of shareholders. If approved by the board, the separation plan will be submitted to a vote by shareholders at a shareholders meeting.
News For GFA From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
There are no results for GFA

Sign up for a free trial to see the rest of the stories you've been missing.
I agree to the disclaimer & terms of use