Itaú Unibanco’s Acquisition of 30% stake in Pravaler

Pinheiro Guimarães advised VSAP12 Fundo de Investimento em Participações, an equity investment fund managed by Principia Capital Partners, International Finance Corporation – IFC and other minority shareholders in the sale of a 30% stake in Pravaler S.A. Greenhill advised IFC and Principia Capital Partners on the deal.

Pravaler, formerly known as Ideal Invest, is the leading provider of student loans in Brazil. Founded in 2001, it originally offered working capital financing to private universities, backed by student tuition receivables. The company moved into student lending in 2006 with the development of its signature credit line“Pravaler”.

IFC was a shareholder of the company since 2010, when it invested in the company to enable the expansion of the student loan program while also enhancing the credibility of the organization which helped attracting additional investors

Principia Capital Partners is a leading private equity firm in Brazil focused on investment in the local market and manages investment funds with companies such as Cellera, Elemídia, Oncoclínicas and FLC in its portfolios.

Closing of the transaction is still subject to regulatory approvals and compliance with other condition precedent agreed among the parties.

Pinheiro Guimarães team was led by partners Marcelo Lamy Rego (Picture) and Maria Neves with associate Mariana Ferez.

Itaú Unibanco relied on its in-house team led by Leandro Telles and Gustavo Jakovak, while other minority shareholders were advised by Vieira Rezende with a team led by Ricardo Ariane Filho.

Involved fees earner: Maria Costa Neves Machado – Pinheiro Guimarães; Mariana de Medeiros Ferez – Pinheiro Guimarães; Marcelo Lamy Rego – Pinheiro Guimarães;

Law Firms: Pinheiro Guimarães;

Clients: International Finance Corporation; Itaù Unibanco; Principia Capital Partners;

Author: Ambrogio Visconti.