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Brazil’s Lupo agrees to buy Carlyle-backed lingerie maker Scalina: Reuters

Lupo SA, a Brazilian underwear producer, has agreed to buy Scalina SA, a lingerie and hosiery maker backed by Carlyle Group LP, for an undisclosed sum.

In a statement to Reuters on Friday, Lupo pledged to keep both brands separated until receiving antitrust and regulatory approval for the transaction. Reuters reported on Tuesday that Carlyle and partners were close to selling Scalina, following a series of setbacks that led to a debt restructuring.

A source with direct knowledge of the deal told Reuters that Lupo and Scalina’s owners – Carlyle, millionaire Artur Grynbaum and the company’s founding Heilberg family – negotiated a price tag of around 90 million reais ($28 million) for the company.