Brazil's Tarpon to buy $268 mln stake in Abril Educação

miércoles 4 de junio de 2014 08:51 GYT

SAO PAULO, June 4 (Reuters) - Funds managed by Brazilian buyout firm Tarpon Investimentos SA struck a deal worth 607 million reais ($268 million)for a 19.9 percent stake in education company Abril Educação SA, according to a Wednesday securities filing.

Tarpon will buy 32.88 million common shares and 19.14 preferred shares from the founding Civita family and Abrilpar Participações Ltda for 11.67 reais per share, giving it 24.2 percent of Abril Educação's voting capital.

The deal values Abril's units, the company's most widely traded class of stock, at 35 reais each, a 9.3 percent premium over Tuesday's closing price.

($1 = 2.27 Brazilian reais) (Reporting by Brad Haynes and Alberto Alerigi Jr.; Editing by Lisa Von Ahn)