BTG Pactual buys 50% stake in Beira-Rio stadium manager Brio

Banco BTG Pactual agreed to acquire the remaining 50% stake held by Andrade Gutierrez in Brio, according to a report by NeoFeed on Friday, October 2, 2026. Through an investment fund, the bank will reach 100% control of the company responsible for the commercial operation of the Beira-Rio stadium complex in Porto Alegre, home to football club Internacional.

The transaction was submitted for regulatory review by Brazil's antitrust authority, the Administrative Council for Economic Defense (Cade). The financial terms of the deal were not disclosed. Both BTG Pactual and Andrade Gutierrez declined to comment on the transaction.

Brio was created in 2012 to carry out the stadium renovation for the 2014 World Cup, a project budgeted at the time at BRL 331 million. The company holds a 20-year concession to commercially manage seats, VIP suites, event spaces, parking lots, food and beverage, image rights, and marketing assets including naming and sector rights. BTG Pactual joined Brio in August 2013 after Cade approval, previously sharing joint control with Andrade Gutierrez.

The deal follows BTG Pactual's recent acquisition of a majority stake in Real Arenas, the WTorre unit managing Palmeiras's arena, through its Alternative Assets I fund via a credit conversion. The bank is expanding into live entertainment venues, an industry in Brazil that reached BRL 8.46 billion in 2025 according to data from the Brazilian Association of Event Companies (Abeoc).