Sam Zell Fund invests in Estapar

Parking network Estapar, that has the Bank BTG Pactual as controller and largest shareholder, will receive the contribution of 400,000,000 R$ Equity International (EI), investment fund aimed at emerging markets owned by American billionaire Sam Zell. With this injection of resources, HEY becomes the second-largest shareholder, behind the Investment Bank.
The contribution of the new Member of the company, which is a leader in the segment, will finance the expansion of the group in the country over the next two years, said André Iasi, President of Estapar. With the entry of Sam Zell, the third and fourth largest shareholders of parking network become the Bozano investments, the Gaucho businessman Julio Bozano (former Banco Bozano, Simonsen) and Templeton Emerging Markets, which belongs to investor Mark Mobius.
The EI will be seat on the Board of the company when the transaction is completed.
New owner. Between the end of last year and beginning of 2016, were strong bets that the network controller change parking because of the crisis that the BTG after the arrest of the banker André Esteves, on 25 November. Edwards was arrested by Federal Police on suspicion of obstructing the investigations of car wash Operation, discharging corruption at Petrobras. Last December, was allowed by Justice serving house arrest. The banker returned to the Bank in April, after authorization of the Supreme Court (STF).
BTG has received offers for the sale of the Estapar network, which was valued by the market at up to 1.5 billion R$, according to sources. The Bank became shareholder of the company in 2009, with 50% of the business, and had 77% stake in the network.
The Bank disposed of important assets in recent months, as the network D''or, the Recovery and the Swiss Bank BSI, to gain liquidity. Although no longer in such a hurry to sell assets, the institution will continue breaking down of holdings in non-strategic businesses, according to people familiar with the matter. Wanted, BTG doesn''t comment.
Negotiations. According to André Iasi, conversations for Sam Zell Fund in Estapar started at the beginning of the year. "The Fund seeks to invest in companies with growth potential, but without interest to control," said the Executive.
Known for making investments in the real estate market, Sam Zell began to diversify his bets in recent years in developing countries. In 2014, the Equity International Fund made contribution in the Company Store Here, rent space to store furniture, known in the United States as self storage.
With revenue of 900,000,000 R$ last year, the Estapar network will close this year with revenues between $ 1 billion and 1.1 billion, said R$ Iasi. The Executive said the company has a lineup of R$ 1.5 billion in investments until 2018.
The EI contribution, according to the Executive, will expand the company''s portfolio, including infrastructure operations in airports, sports arenas, concessions and private contracts.
Today, the network has about 360,000 waves of parking lots in the South, Southeast, Midwest and Northeast. "We are present in 75 cities and our focus will be strengthening in the regions where we operate," said Iasi.
Competition. Extremely pulverized, the parking market in the country became the target of interest from investors. In March, the Country Investments won the bidding to operate the parking lot of the Afonso Pena international airport, Curitiba (PR). The infrastructure fund management company owns 100% of the Stop Well, parking network acquired in 2015.
Already Moving/Vinci Park, French Vinci network, Deputy leader in this segment in Brazil, with 120,000 seats, is present in the country since 2013 and intends to expand its activities in the market in the coming years.
The goal of the company – who went on to adopt the global brand, Indigo-is closing this year with revenues of R$ 430,000,000 in the country.