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Abril links with Capital in Brazil

By Published on .

[Rio de Janeiro] Two years after Brazil passed a media law allowing foreign companies to buy up to 30% of Brazilian media groups, local publishing giant Abril Group is the first media group to take a foreign partner. Capital International, the global private equity unit of U.S. fund manager Capital Group, is investing $50 million for a 13.8% stake in Abril. International media groups were expected to enter Brazil when the media law changed, but the global economic recession and the need for many Brazilian media groups to restructure have hindered investment.
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