Category: Companies
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New investments signal turnaround in Brazil ethanol industry
Improved returns from sales at home and abroad are unleashing the first major flurry of investment in Brazil’s struggling ethanol industry in nearly a decade, with at least nine companies expanding or building new capacity. Medium-sized private mill Rio Verde said it would double ethanol output over the next two years to capture resurgent biofuel…
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Mikhail Fridman Proposes $4 Billion Investment in Oi of Brazil
The Russian oligarch Mikhail Fridman may spend as much as $4 billion to expand his telecommunication holdings into South America.On Monday, the Brazilian telecommunications company Oi said that Mr. Fridman’s investment group, LetterOne, had given it a proposal to invest in a possible merger of Oi with Telecom Italia’s local operator, TIM Participações. “In accordance…
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CADE Approves Merger of TOTVS and Bematech
TOTVS S.A. (BM&FBOVESPA: TOTS3) (“TOTVS”) and BEMATECH S.A. (BM&FBOVESPA: BEMA3) (“Bematech”), in addition to what was informed by the companies on August 20, 2015 and September 03, 2015, hereby jointly announce that, on this date, the decision of CADE’s General Superintendence, approving the merger of Bematech’s shares by Makira II Empreendimentos e Participações S.A. (“Makira…
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Travelers Buys Majority Stake in J. Malucelli to Grow in Brazil
The property casualty business, in which Travelers is now 95% stakeholder, will operate under the Travelers brand. The business will now focus on property, general liability, construction and financial insurance products. The company expects to serve its customers with enhanced and expanded product and services and hence capitalize on the opportunities in the Brazilian market…
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Vale proposes slashing dividend amid uncertain commodities outlook
Vale (NYSE:VALE) proposes cutting dividends even more than planned, looking to pay $500M for the second tranche of its 2015 dividend, half the $1B it proposed in January.The company says the reduction in the second dividend installment to ~$0.10/share (as of Aug. 31) reflects “the more uncertain scenario for mineral commodities prices and the focus…
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Barclays considering sale of investment banking business in Brazil
After disposing off its non-core assets in Portugal for €175m (£128m, $189m) in early September, Barclays is now considering the sale of its investment banking business in Brazil and is open to talks with potential buyers. The move is part of the bank’s restructuring programme led by new chairman John McFarlane. According to Sky News,…
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JBS Announces the Conclusion of the Acquisition of Moy Park
JBS S.A. (“JBS” or “Company” – BM&FBOVESPA: JBSS3; OTCQX: JBSAY), in continuity to the announcement made in the Material Fact of June 21st, 2015, communicates to its shareholders and to the market in general, pursuant to CVM Instructions No. 10 and 358 of January 3rd 2002, as amended, that it concluded today the acquisition of…
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Telecom Italia may exit Brazil and towers, as deep review continues
Telecom Italia continues to go through the painful process of adjusting to the modern world, facing recessionary pressures at home and in its former growth engine in Brazil. Italy has been suffering from the Eurozone recession since the 2008 crash, and this has helped make Telecom Italia (TI) the center of persistent takeover rumors. It…
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JBS S.A. Announces the Successful Syndication of the Financing (Term Loan) for the Acquisition of Cargill Pork Business in the United States
JBS S.A. (BM&FBOVESPA: JBSS3, OTCQX: JBSAY, “JBS” or “Company”) communicates to its shareholders and to the market in general, pursuant to CVM Instruction 358 of January 3, 2002, as amended, that on August 18, 2015, through its indirectly controlled subsidiary, JBS USA, LLC, it has successfully syndicated to the market US$1.2 billion aggregate principal amount…