February 9, 2015 / 10:23 AM / 3 years ago

Brazil's Tarpon to take controlling stake in Abril Educação

BRASILIA, Feb 9 (Reuters) - Funds managed by Brazilian buyout firm Tarpon Investimentos SA will take control of education company Abril Educação SA and replace its chief executive officer, the company said on Monday.

Thunnus Participações SA, which is held by Tarpon-managed funds, will buy an additional 20.7 percent stake in voting shares from the company’s founding Civita family and Abrilpar Participações Ltda for 12.33 reais per share.

Eduardo Mufarej will be Abril Educacao’s new CEO, according to a Monday securities filing.

Tarpon already owned 24.2 percent of Abril’s voting shares, which it acquired last June. With the deal, Tarpon’s total stake in Abril will be worth 1.3 billion reais.

Reporting by Silvio Cascione; editing by Jason Neely

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