Patria Investments Limited completed the acquisition of Contour Global do Brasil Participações S.A. from ContourGlobal plc and others.
June 29, 2022
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Patria Investments Limited (NasdaqGS:PAX) signed a definitive agreement to acquire Contour Global do Brasil Participações S.A. from ContourGlobal plc (LSE:GLO) and others for BRL 1.7 billion on January 20, 2022. Consideration is including the assumption of net debt and other customary adjustments. In Year ended September 30, 2021, Contour Global do Brasil generated revenue of BRL 274 million, EBITDA of BRL 178 million and profit before tax of BRL 60 million. As of September 30, 2021, Contour Global do Brasil had Total assets of BRL 576 million. Closing of the Transaction is conditional upon the satisfaction or waiver of certain conditions under the Sale Agreement, including: (i) the approval of ContourGlobal's shareholders; (ii) certain regulatory approvals in Brazil; (iii) completion of a pre-sale reorganization; and (iv) certain consents or waivers being obtained from third parties who are counterparties to various agreements with the Target or its subsidiaries. As on April 8, 2022, Contour announces that it has received approval from the Financial Conduct Authority(FCA). ContourGlobal further announces that the FCA has granted the Company, a dispensation from the requirement under the Listing Rules to hold a general meeting for the purpose of approving the Disposal. ContourGlobal L.P., the Company's majority shareholder holding, as at April 7, 2022, approximately 71.36 per cent of the Company's issued share capital (excluding shares held in treasury), has provided a written irrevocable undertaking to approve the transaction. The Transaction is expected to complete in 2Q 2022. The Company intends to use the expected net proceeds to either re-invest in attractive new growth opportunities in low carbon power generation or return capital to shareholders. BNP Paribas and Cantor Fitzgerald are serving as financial advisors and Pinheiro Neto Advogados and Slaughter and May are serving as legal advisors for ContourGlobal. Laura Hulett, Michael Flockhart, Isaac Zailer of Herbert Smith Freehills LLP acted as legal advisor to Patria Investments Limited (NasdaqGS:PAX).
Patria Investments Limited (NasdaqGS:PAX) completed the acquisition of Contour Global do Brasil Participações S.A. from ContourGlobal plc (LSE:GLO) and others for BRL 1.7 billion on June 30, 2022. ContourGlobal divested Contour Global do Brasil for BRL 1.74 billion including the assumption of net debt and other customary adjustments.
Patria Investments Limited is a Cayman Islands-based alternative asset management company. The Companyâs product offering encompasses six product lines, such as private equity, infrastructure, credit, public equities, real estate, and advisory and distribution. It seeks to provide global and Latin American investors with investment products that allow for portfolio diversification and consistent returns. Patria Private Equity seeks to create consistent quartile returns. It makes private investments in public equities. Patria Infrastructure performs equity investments in a diversified portfolio of infrastructure-related assets in Brazil and selected other Latin American countries. It has investment in real assets. It offers its clients a range of different credit solutions, and in addition to capital, the Company offers management advice. Its investment portfolio consists of healthcare, education, food and beverages, diversified agribusiness, transportation, and energy, among others.
PATRIA INVESTMENTS LIMITED 
