T4F Controller Files Buyout Offer to Delist From B3’s Novo Mercado

Overview

• T4F’s controlling shareholder, Fernando Luiz Alterio, filed a tender offer with Brazil’s CVM on Wednesday, proposing R$5.59 per share that the company says updates to R$5.78 using the Selic rate.
• The bid seeks to purchase all ordinary shares not held by the controller or related parties, with total consideration of about R$18.7 million reported from the shares in circulation.
• The stated goal is to cancel T4F’s issuer registration and leave B3’s Novo Mercado, a stricter governance tier that adds reporting and compliance costs for listed companies.
• The transaction still depends on CVM approval and meeting regulatory conditions before any buyout or delisting can occur.
• Shares jumped roughly 25% to R$5.57 after the announcement, and early trading volume exceeded the company’s entire session the day before.