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Land in Barra da Tijuca owned by the tycoon sold for R$370 million.
Many eyes turned to the heiresses of banker Aloysio Faria, who died in 2020 at the age of 99. Last Sunday (3), it became public that the banker's daughters closed a deal that is being called the biggest real estate transaction of this century in Brazil: the sale of a 30 thousand square meter plot of land on Tijuca beach, in Rio de Janeiro. January, for a mere R$370 million. The **real estate negotiation**, revealed by columnist Lauro Jardim, columnist for
The Globe
, drew attention due to the movement initiated by the heiresses to get rid of the assets left by their father, whose fortune was estimated at US$ 1,7 billion, according to a survey by Forbes magazine. The **real estate transaction** was highlighted in the real estate market and generated a lot of repercussion.
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Aloysio de Andrade Faria and her direct heirs
Faria died in September 2020 and was for many years considered one of the most traditional bankers of his generation. Graduated in medicine, at the age of 28 he inherited the Banco da Lavoura de Minas Gerais from his father. Years later, with his brother Gilberto Faria, he divided the businesses and created Banco Real.
Real estate transaction in the real estate market
Since his death, the direct heirs began to carry out their father's plans, established in will, for the sale of the family's considerable assets. Aloysio always kept his daughters away from the ventures and preferred that company management be professionalized.
Daughters of Aloysio de Andrade Faria and company management
Thus, Lúcia de Campos Faria, Junia de Campos Faria Ziegelmeyer, who live in São Paulo; Flávia Faria de Vasconcellos, in Rio de Janeiro; Cláudia Faria, who lives in New York, and Eliana Faria, in London, have never worked in business. With a 20% stake each, they spent a few months learning about the size of the conglomerate's assets before making any moves.
Real estate negotiation in Rio de Janeiro
The first negotiation was made in September 2022 to transfer the right to operate the Hotel Transamerica and Teatro Alfa, in São Paulo, to a developer, which plans to transform the 70 thousand square meters located in the south zone of São Paulo into a large club , which would even have a wave pool and would be aimed at the city's wealthiest.
Sale of investment bank and real estate market
The second big deal was the sale, in November 2022, of the investment bank Alfa for R$1,03 billion to the Safra bank. Alfa was Aloysio Faria's second bank, created when he was already 70 years old, after the sale of Banco Real to the Dutch giant ABN Amro, in 1998. At the time of the negotiation, Alfa had assets estimated at R$23 billion by the Central Bank.
Sale of retail chain and financial negotiation
Another major negotiation, concluded in October 2023, was the sale of the construction material retail chain C&C to Arcos Gestão e Investimento (AGI), for an undisclosed amount. The conglomerate also brings together important businesses such as the Transamérica hotel chain, La Basque ice cream shops, the beverage manufacturer Águas da Prata and Rádio Transamerica. There is also a huge list of properties included in the inventory as farms, as well as a considerable collection of works of art.
Transaction involving palm oil and private banking
But one of the most important deals, the negotiation of which must involve several million, is what is considered the
crown jewel
in agribusiness: Agropalma. The largest palm oil producer in the country, the company has six extraction units, an export terminal and two refineries. In total, it has more than 107 thousand hectares of land in the North of Brazil. The products are destined for the food and cosmetics industries and revenue exceeds R$2 billion.
Inheritance and international financial negotiation
There was also another bank owned by the family, in the United States: Delta Bank, whose headquarters are in New York and maintained advisory activities. private banking to South American investors. Safra's North American division took over Delta, for an undisclosed amount. Legislation of Lula government is studying a bill so that states can tax inheritances from abroad. Many states issued their own rules to carry out this charge, but in 2021 the STF decided that they did not have the authority to do so Source: InfoMoney
