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Abrilpar Participações Ltda, the Brazilian media and publishing group that controls education company Abril Educação SA , hired investment banks Itaú BBA and Grupo BTG Pactual SA to help explore "potential strategic opportunities" for the latter, according to a securities filing on Tuesday. AbrilPar, as the media group is known, is analyzing those opportunities in the wake of "potentially interested investors" in Abril Educação, the filing added.
Shares in Abril Educação jumped 2.6 percent to 27.38 reais, the biggest intraday gain since Nov. 25. The stock is down 17.7 percent so far this year.