Brazil’s National Monetary Council, the government’s main financial policy-making body, has relaxed several restrictions in the hope of boosting turnover on the local equity markets. It ruled that Brazilian pension […]
Category: Brazil
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Light Out in Sao Paulo
In spite of the best efforts by the Brazilian authorities, another group of foreign-controlled privatized companies has taken their São Paulo-listed subsidiaries private. Eletropaulo Metropolitana, Brazil’s largest power distributor that […]
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Losing Altitude in Brazil
After a year of losses and liquidity problems for Brazil’s major airlines, it’s unlikely they will all survive an overcrowded market and a shortage of passengers.
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New Man at BNDES
Eleazar de Carvalho has quit a glittering investment banking career to head BNDESPar, the investment arm of the Brazilian government’s development bank BNDES. BNDESPar’s main function is to run the […]
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Petrobras Refinances
Barclays of the UK closed a $500 million letter of credit-backed commercial paper program for Petrobras, the Brazilian state-owned oil company. The loan refinances two loans the quasi-sovereign took out […]
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Praxair Goes Private
Praxair, the leading industrial gas supplier, successfully took its listed Brazilian subsidiary, White Martins, private in May in a tender offer to shareholders that raised the US group’s stake in […]
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UBS Warburg Reorganizes
Ines Correa de Souza takes over from Carvalho to become country head of UBS Warburg Brazil, having served as chief operating officer and director of Banco Warburg Dillon Read, which […]
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A New Banespa Date
The Brazilian central bank has said it now plans to auction Banespa, São Paulo state bank, on July 18. The privatization of the country’s fifth largest bank by assets is […]
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Bad Timing for Equities
Mexico’s Iusacell and Votorantim Celulose e Papel of Brazil ended a four-month hiatus in Latin equity issues with ADR offerings in April. However, their timing was unfortunate, coinciding with the […]
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Bradesco in Buenos Aires
Brazil’s biggest bank, Banco Bradesco, has set up a corporate bank in Buenos Aires to service its existing clients as they increase trade with Argentina, the country’s leading partner in […]