(Yicai Global) Feb. 27 -- Fosun International Ltd. has acquired Guide Investimentos SA, a Brazilian institutional brokerage and wealth management company.

Fosun will pay BRL170 million (USD52 million) for the acquisition, with an additional BRL120 million conditioned on the firm's future performance, AAStocks.com reported today.

Guide Investimentos is a financial distribution company that caters to both individuals and institutional investors in the Brazilian financial market through offline and online channels, serving more than 50,000 clients in all asset classes.

Upon completion of the deal, Brazilian bank Banco Indusval SA will hold a maximum of 20 percent stake in Guide Investimentos. The acquisition, which awaits final approval by Brazil's central bank, is expected to wrap up in the first half.