By Brazil Stock Guide – Planner Group, through its holding company B100 Controle e Participações, has entered talks to acquire a 96.93% stake in Ciabrasf – Cia. Brasileira de Serviços Financeiros S.A. (B3: CIAB3), currently controlled by Reag Capital Holding S.A. The term sheet, signed on Sept. 10, grants 60 days of exclusivity to complete the deal4226a752-3ac9-449d-8ee0-8818e3e….
The controlling block comprises 5.66 million common shares. Closing is subject to a legal, accounting and compliance due diligence review, as well as regulatory approvals. B100 controls businesses including Planner Corretora, Planner SCD, U.S.-based Planner Securities, asset manager Redwood and real estate firm VORARE4226a752-3ac9-449d-8ee0-8818e3e….
Reag under pressure
The talks come at a sensitive time for Reag Investimentos, which is under investigation by the Federal Police in the Carbono Oculto operation, launched on Aug. 28. The probe uncovered how organized crime infiltrated Brazil’s formal economy through gas stations, fintechs and investment funds, moving billions of reais in fraudulent schemes.
At the same time, Reag announced the sale of all shares in Empirica Holding to Smart Hub Participações for R$25 million (US$4.6 million), to be paid in six installments. The deal also includes the assumption of contingent liabilities estimated at R$36 million to R$50 million (US$6.6 million–US$9.2 million), tied to Reag’s earlier acquisition of Empirica. The transaction still requires approval from Brazil’s antitrust authority Cade and other regulators.