Everything you need to know about Brazil investing
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Itaú pays US$1.8 billion for 49.9% of XP Investmentos
After two months of discreet talks, Itaú Unibanco closed on Thursday (May, 11th) the purchase of 49.9% of the total capital of XP Investimentos for R$ 6.3 Billion, which includes R$ 600 million in resources that the bank will inject into the company. With the transaction, the country’s largest private bank reserves its space in…
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Kraft Heinz Offers a Merger with Unilever for $143 billion: Rejected for now
Unilever has rejected a $143 billion merger proposal from Kraft Heinz, the Brazilian-controlled food conglomerate 3G Capital and mega-dealer Warren Buffett, setting the stage for a battle between two of the world’s largest consumer products companies.The Anglo-Dutch company, behind big brands like the Dove soap and the Ben & Jerry ice cream, said the offer…
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Heineken Acquires Schincariol’s Owner, Brasil Kirin, for 664 Million Euros
The Dutch multinational Heineken announced on Monday (13) the purchase of Brazil Kirin, controlled by the Japanese group Kirin, for 664 million euros (R$ 2.2 billion). With the acquisition, Heineken becomes the second largest brewery in Brazil. After the conclusion of the deal, Brasil Kirin will be consolidated with Heineken.The transaction evaluates Brazil Kirin at…
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Luxottica to Acquire Brazilian Óticas Carol for € 110 million
The Italian company Luxottica, largest company in the world for glasses, will buy Óticas Carol for € 110 million (R$ 368.6 million). The agreement was signed with the partners of the Brazilian company 3i Group, Neuberger Berman and Siguler Guff & Company, and depends on the approval of the Administrative Council of Economic Defense (Cade)…
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Brazilian Government Announces Economic Package with 12 Measures
President Michel Temer announced on Thursday (15) a new economic package with measures to stimulate the economy. Also taking part in the announcement were the house or representative’s president, Rodrigo Maia (DEM-RJ), Senate’s President Renan Calheiros (PMDB-AL), Finance Minister Henrique Meirelles and the Minister of Planning, Dyogo Oliveira. Temer started the announcement saying that the…
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Nubank captures US$ 80 million in round led by DST Global
Startup credit card issuer Nubank finalized on Wednesday a US$ 80 million fund-raising, equivalent to approximately R$ 276 million. The investment round was led by the DST Global fund, in its first investment in South America, and also had the participation of Redpoint Ventures and Ribbit Capital funds. Nubank is a fintech company and the…
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JBS Announces That Its Subsidiary JBS Foods Plans to Conduct a Registered IPO In the U.S.
JBS S.A. (“JBS” or the “Company”), in a further step towards advancing its planned reorganization, announces that its Board of Directors today unanimously approved the filing of a registration statement with the U.S. Securities and Exchange Commission (“SEC”) of its subsidiary JBS Foods International B.V. (which shall be converted into JBS Foods International N.V.) (“JBSFI”)…
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Car rental company Movida can raise up to US$ 300 million with IPO
Car rental company Movida is expected to carry out an initial IPO that could reach between R$ 800 million and R$ 1 billion, according to preliminary estimates from people close to the deal.The funds raised with the transaction, which is still pending approval by the Brazilian Securities and Exchange Commission (CVM), will be pocketed by…
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Itaú to buy Citibank Brazil for US$ 220 million
Itaú has agreed to pay R$ 710 million (approximately US$ 220 million) for the retail operations of Citibank in Brazil. The transaction was announced this morning. Citi primarily serves high-income customers and has 315,000 account holders in the country. In the acquisition, Itaú acquired loan portfolio, credit cards, deposits, asset management, insurance brokerage and the…
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Magnesita merger with Austrian RHI creates global giant in the industry
In an operation that creates a global leading company in the refractories market, mainly used in the steel industry, Brazil’s Magnesita, the third largest manufacturer in the world in this sector, merged their businesses to the Austrian giant RHI, based in Vienna. With the merger of assets, it is formed RHI Magnesita, which will have…
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