SAO PAULO (Reuters) -Private equity firm Carlyle Group (NASDAQ:CG) has sold all of its minority stake in Brazilian hospital chain Rede D'Or, local outlets Brazil Journal and Valor Economico reported on Wednesday.
Carlyle initially intended to sell about half of its stake in a block trade, but later it raised the deal to about 2.2 billion reais ($426.9 million) due to a strong demand, according to the reports.
Rede D'Or declined to comment. Carlyle did not respond to request for comment.
Data from exchange operator B3 showed more than 69 million shares of Rede D'Or were sold in a block trade in the morning, at 29.44 reais each, raising a total of 2.04 billion reais. B3 did not say who sold.
Brazil Journal said Carlyle also sold some 7 million shares after the block trade on Wednesday to an unnamed foreign investor.
Although it was not clear how many shares Carlyle had, latest regulatory filings showed it was less than 5% of Rede D'Or.
Rede D'Or shares closed on Wednesday down 6% at 29.12 reais, among the biggest declines of Brazil's equities benchmark index Bovespa, which fell 1.4%.