Brazilian tourism company CVC, which is owned by buyout shop the Carlyle Group, is planning to sell shares in an initial public offering, Reuters reported. Specific details, including the size of the offering, are not yet released. The proceeds of an offering would go to shareholders, Reuters said. Itau Unibanco, Morgan Stanley & Co., Bank of America Merrill Lynch, BTG Pactual and JPMorgan Chase & Co. were hired to manage the transaction.
(Reuters) CVC, the Brazilian tourism company controlled by U.S. buyout giant Carlyle Group [CYL.UL], plans to sell shares in an initial public offering, according to the Website of the securities regulator CVM. None of the proceeds will go to the company’s coffers but to shareholders, according to filing made by CVC to the agency.
CVC hired the investment-banking units of Itau Unibanco (ITUB4.SA), Morgan Stanley & Co (MS.N), Bank of America Merrill Lynch (BAC.N), BTG Pactual [BTG.UL], and JPMorgan Chase & Co (JPM.N) to manage the transaction. Additional details, including the size and price tag for the deal, were not immediately available.