MRV sells stake in its logistics company.

247_A MRV Engenharia specializes in building properties for the affordable housing segment. One of the companies that works most extensively with the Brazilian federal government's "Minha Casa, Minha Vida" (My House, My Life) program, the Minas Gerais-based company also operates in the corporate sector with its MRV Log business unit. This Monday, the logistics unit received a new partner. The American private equity fund Starwood Capital acquired 33,3% of the company's capital for R$ 250 million. The objective of bringing in a new shareholder is to expand the business portfolio, currently with 12 clients. By the end of the year, MRV Log aims to reach 32 companies served. However, on the stock exchange, the share price shrank. In the middle of the afternoon today, MRVE3 shares were down 1,7% compared to a 1% loss for the Ibovespa.

To establish the new corporate structure of MRV Log, more than 62,6 million new common shares will be issued, totaling R$ 350 million. MRV Engenharia will hold 42% of the capital, Starwood 33,3%, and other shareholders will complete the shareholder structure with voting rights, holding 24,7%. Present in 19 cities with industrial warehouses, shopping centers, and industrial developments, MRV Log aims to increase its gross leasable area (GLA) by 180% from its current 47,6 m2 by December.