Camargo Aims to Delist Developer Unit

Brazil’s Camargo Correa plans to spend up to BRL180m ($100m) to acquire all outstanding shares of its Camargo Correa Desenvolvimento Imobiliario real estate unit, it says. The conglomerate plans to hold a public tender offer to acquire all of the 38.25m shares, representing 33.85%, that it doesn’t own, for up to BRL4.70 each. It doesn’t disclose a timetable for the public offer.