GIC Buys 25% Stake in Brazil’s Algar Telecom

Posted on 01/04/2018

Brazilian network provider Algar Telecom S.A. has sold a 25% stake in the company to Archy LLC, an affiliate of Singapore’s GIC Special Investments unit, in exchange for 1 billion BRL (US$ 307 million) in new capital. Under the deal, which remains subject to regulatory approval, GIC will purchase 352 million BRL (US$ 108 million) […]