By Brazil Stock Guide – CVC Brasil Operadora e Agência de Viagens (CVCB3) said funds managed by BTG Pactual increased their ownership stake in the company to more than 20% of its voting share capital, according to a market disclosure released in mid-January.
BTG Pactual Gestão e Consultoria de Investimento reached a position of approximately 107.6 million common shares, equivalent to about 20.47% of CVC’s outstanding voting shares. The disclosure followed a formal notification received by the company on Jan. 17, in line with Brazilian securities regulations on relevant shareholdings.
Most of the stake is held through GJP Fundo de Investimento em Ações, which individually owns around 105.2 million common shares, representing approximately 20.02% of CVC’s total voting capital. The asset manager stated that the acquisition is intended solely as an investment and does not aim to alter the company’s control structure or management.
Late on Thursday, Jan. 15, CVC said its board of directors approved the appointment of Fabio Mader as the company’s new chief executive officer, replacing Fabio Godinho. Godinho had been appointed CEO in 2023 to lead the company’s restructuring process. Following the announcement, CVC’s shares fell more than 20% in Friday’s trading session.
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