Arezzo & Co: Rooney Sells Shares Worth 80 Million Shares
Arezzo & Co said today that a member of its board of directors sold around 80 million reais worth of shares during the month of December. The sales represent just under 1% of the retailer’s share capital, which is worth 8.5 billion reais on the stock exchange.
Sales totaled 1,006,600 shares (R$79.3 million) and came out at an average price of R$78.70 in brokerages BTG, Guide and Itaú. Sources close to Arezzo told the Brasil Journal that the sales were made by Ronnie Meisler because the first “right” to the shares he had received in the reserve sale had expired. (Rooney still has two rounds left to play.)
Arizo paid R$715 million to maintain the reserve: R$225 million in cash and the rest in stock. And according to the source, Ronnie had to use virtually all the money he earned to pay his income tax. With the sale of the shares, the businessman partially liquidated the amount he had at the release of the shares. Arezo shares closed the day at R$77.07.