Fosun Property Holdings Limited agreed to acquire 69.1% stake in Guide Investimentos S.A. Corretora de Valores from Banco Indusval S.A. (BOVESPA:IDVL4) for BRL 290 million on September 12, 2017. Fosun Property Holdings Limited signed an agreement to acquire Guide Investimentos S.A. Corretora de Valores from Banco Indusval S.A. on February 26, 2018. The deal is split into a BRL 170 million part and a BRL 120 million one conditioned on earnings in 2018 and 2019. The first BRL 120 million will be transferred upon the signing of a definitive agreement between the parties. A second tranche will be made upon completion of the transaction and the final payment hinges on the financial performance of Guide in 2018. Banco Indusval & Partners, the current controlling shareholder of Guide Investimentos, will retain 20% with an option to later sell it to Fosun International. The remaining 10% will stay with Guide Investimentos' partners, who will continue heading the business. The transaction is subject to approval from Brazilian Central Bank and is expected to close in first half of 2018. Roberta Bassegio, Jia Yan, David S. Wang and Stancy Yi Yi Qian of Paul Hastings LLP and Costa e Tavares Paes Advogados acted as legal advisors to Fosun. Fosun Property Holdings Limited completed the acquisition of 69.1% stake in Guide Investimentos S.A. Corretora de Valores from Banco Indusval S.A. (BOVESPA:IDVL4) on November 5, 2018. After closing Fosun holds 69.14%, Banco holds 20% and management hold 10.86% stake in Guide.