Finally some answers. The deal made was 14% dilution with each share issued TO ALPHAVILLE valued at R$5.11. Its not finalized yet though because it has to be approved by Alphaville holders who are looking for 90 million shares valued at R$3.70 (18% dilution).
Of course nothing is set in stone yet, but it looks safe to say that Gafisa's cash stock will remain intact and maximum dilution risk is less than 20%.
This is coming from Brazil's finest financial publication. VERY good news to say the least.