CAB Ambiental, a Brazilian operator of water and sanitation concessions, plans to IPO, according to regulatory documents. It does not indicate the timing of the sale, which will consist of primary shares. CAB operates 11 concessions and 2 PPP contracts of 16-30 years, in Sao Paulo, Parana and Mato Grosso states, serving a total population of 4m. Owned by the Galvao Participacoes conglomerate, CAB posted Ebitda of BRL7.3m in the first 9 months of 2010, compared to BRL3.7m in all of 2009. It has hired Safra to manage the sale.
Category: Equity
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BEST LAW FIRM — BRAZIL
The merger of Brazil’s two largest retailers – Casas Bahia and Globex, a unit of Pão de Açúcar – was no easy task.
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BEST LAW FIRM — CHILE
Chile’s Claro y Cía, established in 1880, is no stranger to complex M&A. In 2010 it acted as legal counsel for LAN Airlines in its merger with Brazil’s TAM that promises to be the largest airline in the region.
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DEALS OF THE YEAR RESULTS
Biggest, tightest, longest, cheapest. Superlatives abound when describing LatAm capital markets and advisory for the last 12 months, and many bankers expect the good times to continue rolling.
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EQUITY: Less Brazil, Please
After a turbulent 2010, equity bankers and investors are hoping for a smoother 2011, with continued strong volume.
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BEST INVESTMENT BANK
Credit Suisse is back on top again, aiming to leverage relationships throughout emerging markets to further stoke the coals of its LatAm investment banking engine. The Swiss house coasts on rising revenue from M&A, equity and fixed income, but has not slipped into complacency.
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BEST EQUITY HOUSE
Late 2009 and 2010 will be remembered as a period when equity issuance returned to LatAm with mixed results.
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BEST PRIMARY EQUITY ISSUE
Investors could be forgiven for forgetting that Mexico had an equity market, or at least one with new issuers.
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BEST PRIVATE EQUITY DEAL
In June, UK-based private equity giant Apax Partners, through its Dethalas vehicle, closed on its first investment in Brazil.
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BEST FOLLOW-ON EQUITY
Love it or hate it, there was no avoiding the giant, black, viscous elephant in the room of LatAm equity last year.