Brazilian homebuilder MRV Engenharia e Participacoes SA will hold a shareholders meeting on Oct. 4 to vote on a proposal to buy a controlling stake in U.S. real estate firm AHS Residential for $220 million to $255 million, a securities filing showed.
MRV shares closed down 6.44% at 17.72 reais ($4.30) on Wednesday, following the announcement it was considering making an investment in AHS, a Florida-based company owned by the Menin family, controlling shareholders of MRV. The proposal is to buy a 20% stake with 50.1% voting rights.
Source: Reuters.com