Guepardo Investimentos has acquired a 5.44 percent stake in Brazilian jewelry retailer Vivara, bringing its total holding to 12,854,800 common shares, the company announced on Saturday.
The chain disclosed that it received official correspondence from Guepardo Investimentos detailing the equity transaction. The shares were bought by various investment funds, managed portfolios and investment clubs operating under the management of the asset firm.
According to the announcement from Vivara, Guepardo reported that the share purchase does not have the objective of acquiring corporate control of the company. The asset manager confirmed that the transaction was executed strictly as a financial investment in the jewelry retailer.
Guepardo also clarified in its communication that the position will not be used to seek changes to the corporate administration, alter the existing control structure or disrupt the regular operations and business activities of Vivara.
Asset management and investment structure
Guepardo Investimentos is an independent Brazilian asset management company headquartered in São Paulo. The firm specializes in managing equity investment funds, managed accounts and investment clubs focused on publicly traded companies in Brazil.
Under Brazilian corporate governance and securities regulations, institutional asset managers are required to notify public companies when their aggregate holdings across managed funds cross significant ownership thresholds, such as 5 percent of voting equity capital.
Vivara jewelry business
Vivara, officially registered as Vivara Participações, is the largest jewelry retailer in Brazil. Founded in 1962, the company designs, manufactures and sells jewelry, watches, leather goods and accessories through a nationwide retail store network, shopping mall kiosks and online sales channels.
The company completed its initial public offering on the Brazilian stock exchange, B3, where its equity capital is represented by common voting shares under the ticker VIVA3.
Following the disclosure, Guepardo's managed portfolios will hold the 5.44 percent minority interest as passive equity investments without representation in company management.
