{
  "id": 8439319,
  "title": "Brazil’s Helbor Moves Closer to Leaving the Stock Market After HBR Vote",
  "url": "https://urgent.news/2026/09/19/brazils-helbor-moves-closer-to-leaving-the-stock-market-after-hbr-vote",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-19T10:05:13.000Z",
  "source": {
    "name": "The Rio Times",
    "slug": "the-rio-times",
    "url": "https://www.riotimesonline.com/hbr-realty-helbor-takeover-delisting-vote-2026/"
  },
  "original_language": "en",
  "account": "Brazil's mid-sized homebuilder HBR Realty has received shareholder approval for a plan to merge with and delist its subsidiary Helbor Realty, citing the impact of high interest rates on their business. The Borenstein family, which controls both companies, announced that HBR would remain listed on B3, the São Paulo stock exchange, while Helbor would leave the Novo Mercado, the top governance tier of B3. Helbor, one of Brazil's oldest residential developers, was founded in 1977 and has delivered 46,000 homes across 30 cities. Its shares have declined by about 95% over the past decade, from a peak of R$50.79 in 2013 to R$2.36 before the offer. The Selic rate, set by the central bank, reached a peak of 15% in 2025 and 2026, raising mortgage costs for buyers and borrowing costs for developers. The offer allows HBR to pursue the acquisition of Helbor, but does not complete the takeover. The deal is valued at R$2.52 per Helbor share and requires HBR to hold at least 50.1% of Helbor's voting capital, with more than two-thirds of Helbor's qualifying minority shareholders also approving the offer.",
  "summary": "HBR Realty shareholders backed a share-swap takeover of Brazilian homebuilder Helbor, whose shares have lost about 95% since their 2013 peak. The post Brazil’s Helbor Moves Closer to Leaving the Stock Market After HBR Vote appeared first on The Rio Times .",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}