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Singapore's GIC buys stake in Brazilian gym chain Smartfit

Reuters  |  SAO PAULO 

(Reuters) - Singapore's is investing 100 million reais ($27.9 million) in Brazilian Escola de Ginastica e Dança SA, said in a securities filing.

did not disclose in the filing the size of the stake GIC's Special Investments Pte Ltd had acquired in the company.

With stores in Brazil, Mexico, Chile, and the Dominican Republic, Smartfit has among its shareholders the Brazilian family Corona and investment firm Pátria Investimentos Ltda, which has a partnership with U.S. buyout firm Blackstone Group LP.

Smartfit, Pátria and did not immediately comment on the matter.

($1 = 3.58 reais)

(Reporting by Alberto Alerigi; Writing by Carolina Mandl; Editing by Susan Thomas)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, May 14 2018. 20:22 IST
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