CAP S.A. (SNSE:CAP) agreed to acquire 47.32% stake in Novacero S.A. from Invercap S.A. (SNSE:INVERCAP) for $20 million on August 12, 2016. As on August 12, 2016, the deal was approved by the Board of CAP. The transaction was approved by Invercap observing the procedure established in Title XVI of Law 18,046 and with the unanimous vote of the Directors not involved.

The price will be paid at the time of the respective sale that is expected in the coming days and whose funds would be used to decrease of liabilities of Invercap. José Tomás Brahm of Oaklins International Inc. acted as financial advisor to Invercap S.A.