IPU Participacoes SA (IP), a 70:30 joint venture between Veremonte Participacoes SA's KOVE Participacoes SA subsidiary and Agra Empreendimentos Imobiliarios SA acquired a 62. 13% interest, or 31.596 mil ordinary shares, in Abyara Planejamento Imobiliario SA (AP), a real estate development firm, for BRL 1.2 (USD 0.511) per share, or a total value of BRL 37.916 mil (USD 16.141 mil). Originally, Mr. Banuelos was rumored to planning to acquire an undisclosed minority stake in Abraya. Concurrently, IP planned to acquire the remaining 37.87% stake in AP.
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