EzTec and Adolpho Lindenberg have partnered to develop projects worth R$ 1.7 billion.

The partnership involves structuring a company, called EZ-CAL, to be jointly controlled, with a duration of six years, which will have direct investment from the parties in the estimated amount of R$ 130 million in the first two years.

EzTec and Adolpho Lindenberg have partnered to develop projects worth R$ 1.7 billion

02/24/2022

Construction companies Eztec and Adolpho Lindenberg (CAL) signed an agreement on Wednesday (23) for the joint development of real estate projects. According to a note, the initiative should in six years develop projects with a general sales value (PSV) of R$ 1.750 billion, "in the standard and with the use of the brands and management belonging to CAL, without compromising the continuity of the business and investments of EZTec in its own ventures and other partnerships in the market".

The partnership involves structuring a company, called EZ-CAL, to be jointly controlled, with a duration of six years, which will have direct investment from the parties in the estimated amount of R$ 130 million in the first two years.

The transaction also comprises a private capitalization operation for CAL and the assignment of a subscription bonus to EZTec that will give the right to subscribe for new shares issued by CAL after a minimum period of four years from that date.

If the subscription option is exercised, EZTec will share control of CAL with Lindenberg Investimentos, its current controlling shareholder, through a shareholders' agreement to be entered into between the two.

Source: Valor Econômico

Read full story (in Portuguese).

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