Credit Suisse sells REIT business in Brazil to Patria for around $130 mln

SAO PAULO, Dec 6 (Reuters) - Credit Suisse said on Wednesday it reached a deal to sell its real estate fund management business in Brazil to asset manager Patria Investments for up to 650 million reais (around $130 million).

The bank, owned by UBS will transfer to Patria the Credit Suisse Hedging-Griffo Real Estate business, comprising listed real estate funds with around $2.4 billion in assets under management.

This will add up to Patria's 18 billion reais ($3.67 billion) under management in real estate, the asset manager said in a separate statement.

The deal is still subject to antitrust and investors' approval.

($1 = 4.9022 reais)

Link: https://www.reuters.com/markets/deals/credit-suisse-sells-reit-business-brazil-patria-around-130-mln-2023-12-06/#:~:text=Credit%20Suisse%20sells%20REIT%20business%20in%20Brazil%20to%20Patria%20for%20around%20%24130%20mln,-Reuters&text=SAO%20PAULO%2C%20Dec%206%20(Reuters,reais%20(around%20%24130%20million).