Parmalat Sponsors File For Brazil IPO

Laep Investments, a Bermuda-based private equity turnaround shop that owns 98.5% of Parmalat Brasil, is planning to list on the Bovespa, according to a filing with the CVM. Run by a group of Brazilians, the two most senior of which are Marcus Alberto Elias and Eduardo Aguinaga de Moraes, founders of TCW/Latin America Private Equity Partners, Laep took control of Parmalat in 2006 during its in-court restructuring. It established new ownership structures to maintain the dairy producer’s operations and relations with its producers and providers. Details on the amount of the capital raise and number of shares are unclear. UBS Pactual will lead the Laep deal, which will be offered offshore and as BDRs locally.