Torre Norte receives a new acquisition proposal

Last week, we reported that the Real Estate Investment Fund (FII) Torre Norte received a proposal to acquire the entire ideal fraction of the Torre Norte development of the Centro Empresarial das Nações Unidas (CENU), at Avenida das Nações Unidas, in São Paulo. At the time, the proposal had been made by Barzel Properties Gestora de Recursos.

This Monday (10), BTG Pactual, which manages the fund, published a material fact informing the market that GTIS Partners also presented an acquisition proposal for the same property.

Barzel's offer proposes to pay R$ 500 million for the building, while GTIS' proposal suggests R$ 525 million. Under the material fact, if the Administrator believes that the bid is valid, an Extraordinary General Meeting will be called for analysis and validation of the proposals received by the shareholders.