Price to Book Value on Cyrela, Brazil's largest home builder is currently 1.50x vs Gafisa's 0.80x. I think the Alphaville spinoff is going to happen soon, unless GFA can trade up to 1.5x Book Value. Which would be just north of $9/share. The longer is stays under 8-9 bucks, the more likely the Alphaville spinoff happens. I think Mgmt is waiting to see if the stock will move in that direction before deciding. Either way, this stock is likely to double in price this year.