Alvarez & Marsal unit creates Brazil's first SPAC

SAO PAULO, Dec 8 (Reuters) - The Brazilian unit of management consulting firm Alvarez & Marsal said on Thursday that Brazilian securities industry regulator CVM had approved the creation of the first local special purpose acquisition company (SPAC).

The SPAC's sponsor is Alvarez & Marsal Holdings LLC, the company said in a securities filing.

The SPAC intends to complete a share offering using a Brazilian regulation that allows sales only to professional investors. It will list its shares on Brazil's B3 SA Brasil Bolsa Balcao B3SA3.SA exchange, it said.

(Reporting by Tatiana Bautzer; editing by Jason Neely)

((tatiana.bautzer@tr.com; Tel: +55-11-5644-7756; Mob: +55-119-4210-4173; Reuters Messaging: tatiana.bautzer.thomsonreuters.com@reuters.net))

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