The Brazilian Graveyard and Deathcare Services Fund (FII CARE11) initiated a divestment of up to 40% of its stake in the Cortel Group, generating R$ 4 million from the sale of shares to Zion Capital, amid a growing death care industry in Brazil.

Target Information

This year, the shareholders of the Brazilian Graveyard and Deathcare Services Fund (FII CARE11) approved a divestment strategy allowing for the sale of up to 40% of its holdings in the Cortel Group, Brazil's leading private cemetery operator.

The divestment initiative began this week following a resolution passed during the assembly in April. A total of 76,016 ordinary shares were sold, representing a stake in the Cortel Group, which encompasses cemeteries, burial plots, and funeral services in Brazil. At a unit price of R$ 52.62, this transaction amounted to R$ 4 million.

Industry Overview

Brazil's death care services industry is witnessing significant growth, driven by demographic shifts and increasing demand for private cemetery services. The industry's t