Dubai – Mubasher: Mubadala Development on Friday announced a binding offer to acquire a majority stake in the Brazilian infrastructure company Invepar, including pumping capital and purchasing shares owned by pension funds.

Under the deal, Mubadala Development will acquire 50.1% of Invepar, and will buy “shares from the Petros, Funcef and Previ pension funds, along with the conversion of preferred Invepar shares into common shares,” according to Reuters.

The talks between Mubadala Development and Invepar with regard to the deal began in February, Reuters added.