May 31, 2019 / 12:49 PM / a year ago

Brazil's Patria to inject $126 mln into gym operator Smartfit

RIO DE JANEIRO, May 31 (Reuters) - Brazilian private equity firm Patria Investimentos will inject roughly 500 million reais ($126 million) into Smartfit Escola de Ginastica e Danca SA by purchasing new and existing shares in the gym operator.

In a securities filing on Friday, Smartfit said Patria, in which U.S. private equity firm Blackstone Group LP has a stake, had agreed to purchase new shares to be issued by the firm and to purchase stakes from existing shareholders.

It did not give a timeline for the transaction.

$1 = 3.98 reais Reporting by Gram Slattery Editing by Chizu Nomiyama

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