MRV sells Luggo assets for R$166M, raises R$144M cash

Brazilian homebuilder MRV sold assets of its Luggo rental unit for R$166 million, generating R$144 million in cash. The sale leaves Luggo with no active projects, signaling a strategic exit from the rental business. This improves MRV's liquidity and reduces exposure to a capital-intensive segment, though the impact on its broader turnaround remains to be seen.