Brazilian investor Caio Auriemo and his family will sell their stake in Diagnosticos da America, Latin America's largest medical diagnostics company, in a transaction that might raise up to 210 million reais ($107 million), local newspaper Valor Economico reported.
The Auriemos plan to auction their combined 6 million common shares of Dasa, as the Barueri, Brazil-based laboratory is known, at a starting price of 35 reais per share, Valor said, citing one person with direct knowledge of the plans.
The family's decision comes as funds run by banks Credit Suisse and HSBC Holdings as well as a social security fund owned by miner Vale boosted their stake in Dasa, Valor said.
Caio Auriemo stepped down as Dasa's chairman in 2005 after a 35-year span at the company and its predecessor, Valor said.
More than 57 percent of Dasa stock trades in the Sao Paulo stock exchange. Calls made by Reuters to Dasa's media office seeking comment weren't immediately returned.
Dasa fell 0.7 percent to 34.95 reais on Tuesday in Sao Paulo. They have fallen 4.4 percent in the past 12 months.
(Reporting by Guillermo Parra-Bernal; Editing by Derek Caney)