BTG Ups Stake in Retailer

BTG Pactual’s private equity arm has exercised the option to buy an additional 30% of retailer Leader Participacoes, following its May announcement of the acquisition of 40% for BRL665m ($334m). The terms are similar to the earlier deal, in which BTG’s funds were set to pay BRL558m for a 35.88% position, with leader holding a rights offering, through which BTG acquires new shares worth another 6.42%. Leader operates in the clothing and housewares sector.