July 15, 2016 / 7:42 PM / 2 years ago

Brazil's Tarpon sells apparel firm Morena Rosa back to founder -sources

SAO PAULO, July 15 (Reuters) - Brazilian investment firm Tarpon Investimentos SA has sold apparel company Morena Rosa SA back to its founder four years after acquiring it, two sources with knowledge of the matter said on Friday.

Morena Rosa, set up in 1993 by Marco Franzato, was one of Tarpon’s smallest investments.

Franzato, who held 15 percent of Morena Rosa, will pay about 220 million reais ($67 million) for Tarpon’s 85 percent stake, according to one of the sources, who asked for anonymity because the deal is private.

The agreement was signed last week, the source said.

Tarpon declined to comment. Franzato did not immediately respond to a request for comment.

Tarpon, which manages 8.6 billion reais ($2.6 billion) in assets, had paid 240 million reais for a 60 percent stake in Morena Rosa in 2012. It later acquired another 25 percent stake.

The investment firm’s largest holdings are in processed food maker BRF SA, education company Somos Educacao SA and in steelmaker Metalurgica Gerdau. ($1 = 3.2571 Brazilian reais) (Reporting by Tatiana Bautzer; Editing by Richard Chang)

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