Shareholder to auction BR Properties shares on Tuesday -Bovespa
SAO PAULO Nov 30 (Reuters) - An unidentified shareholder in Brazilian commercial real estate company BR Properties SA will offer to sell 5.96 percent of the company's common shares for 10.22 reais per share at an auction on Tuesday, according to bourse operator BM&FBovespa.
The seller is not a controlling shareholder but does have the right to name at least one member of the board of directors, the bourse operator added. Grupo BTG Pactual SA, the biggest shareholder of BR Properties, is also looking to sell assets to raise capital, according to a source with knowledge of the matter. (Reporting by Paula Laier; Editing by Steve Orlofsky)
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