Uk's Vordere agrees to nab five properties in Brazil for $34 mln

Vordere PLC, a London-based property investment and development company, has entered an agreement to purchase five properties in Brazil for 25.9 million pounds ($34 million) in shares.

Under the terms of the deal, Vordere has allotted 129.3 million new share prices at $0.26 each as consideration, taking its total shares in issue to 607 million.

Four of the properties are in Rio Grande do Norte and the fifth, a large residential development property, is in Pernambuco Brazil. More so, Vordere's assets now total $142.4 million, up from $109.4 million on August 31.

The company noted that the transaction is in line with its stated strategy to boost diversification, and in particular, in markets straightforward for real estate development.