September 4, 2019 / 2:28 PM / 3 months ago

Shares in Brazil's MRV fall 5% as company eyes U.S. acquisition

SAO PAULO (Reuters) - Shares in Brazilian homebuilder MRV Engenharia e Participacoes SA (MRVE3.SA) fell 5% in mid-morning trading after the company said it was considering investing in a U.S. real state company owned by the Menin family, the controlling shareholders in MRV.

The company is studying an investment in AHS Residential, a Florida-based firm that was founded by MRV chairman Rubens Menin, owner of 32.5% of MRV. Itau BBA analysts said in a note to clients there are no clear synergies between the companies and that the acquisition could indicate corporate governance flaws at MRV.

Reporting by Paula Laier; Editing by Chizu Nomiyama

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