Patria Announces the Divestment of Alliar
GRAND CAYMAN, Cayman Islands, Aug. 19, 2021 (GLOBE NEWSWIRE) -- Patria Investments Limited, or “Patria” (PAX: NASDAQ), through its managed investment funds, announces an agreement for the full divestment of Centro de Imagem Diagnosticos S.A. (“Alliar” or the “Company”) by means of a private sale (“Transaction”).
The Transaction encompasses the sale of 25,012,323 common shares of the Company, which corresponds to the total interest in the Company held by Patria’s Private Equity Fund III and its related vehicles, and is subject to the termination of the Shareholders’ Agreement disclosed to the market through a Material Fact dated August 12, 2021, as well as to the antitrust agency approval, and other conditions usual to such type of transaction.
The sale of Alliar represents a major step towards completing the divestment process of Private Equity Fund III, a 2007 vintage fund which has generated top quartile returns for its vintage in Latin America and emerging markets.
Alliar was established in 2011 and is one of the largest players in the medical diagnostics industry in Brazil. The Company is focused primarily on image-based diagnostics and aims to continue its national expansion plan mainly through acquisitions and partnership with prominent doctors.
About Patria Investments
Patria is a leading investment firm in Latin America’s growing private markets, with over 30 years of history, combined assets under management of US$15.8 billion, and a global presence with 10 offices across 4 continents. Patria aims to provide consistent returns in attractive long-term investment opportunities that allow for portfolio diversification through its flagship Private Equity and Infrastructure products, as well as its Country-specific products including Real Estate, Credit and Listed Equities. Through its investments Patria seeks to transform industries and untangle bottlenecks, generating attractive returns for its investors, while creating sustainable value for the society. Further information is available at https://www.patria.com/.
This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. You can identify these forward-looking statements by the use of words such as “outlook,” “indicator,” “believes,” “expects,” “potential,” “continues,” “may,” “will,” “should,” “seeks,” “approximately,” “predicts,” “intends,” “plans,” “estimates,” “anticipates” or the negative version of these words or other comparable words. Such forward-looking statements are subject to various risks and uncertainties. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. We believe these factors include but are not limited to those described under the section entitled “Risk Factors” in our 424(b) prospectus, as such factors may be updated from time to time in our periodic filings with the United States Securities and Exchange Commission (“SEC”), which are accessible on the SEC’s website at www.sec.gov. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in our periodic filings. The forward-looking statements speak only as of the date of this press release, and we undertake no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise.
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