Petrobras’ record-breaking equity raise underlines risk to minority shareholders in large, strategically important Brazilian industry. It also highlights relative value in the novo mercado.
Category: Equity
Posted inMagazine
Southern Copper Strikes Back
Southern Copper faces stiff competition in Peru from new and expanding projects. But it is digging deep to keep on top as the country’s leading red metal producer.
Posted inMagazine
Editorial Comment: Curiouser and Curiouser
Investors, issuers and bankers partying in DC at the IMF annual meetings oozed optimism verging on complacency.
Posted inMagazine
People: Brazilian IB Moves
Eduardo Centola has joined UBS as CEO of the investment bank in Brazil, where the Swiss bank is focused on rebuilding its coverage.
Posted inMagazine
Equity: Issuers Follow Petrobras
With Petrobras’ $70 billion capitalization out of the way, other LatAm equity issuers are cleared for takeoff.
Posted inMagazine
M&A: Asia’s Resource Play
Mexican telecoms and Brazilian oil pump up the deal volume numbers claimed by advisors, but flow is still up year-on-year, even after stripping out distorting Telmex and Petrobras trades.
Posted inMagazine
The Bank of the Year
Brazil’s government-controlled lender is using a natural size advantage to pursue niches it does not already dominate. Careful international expansion is next for Banco do Brasil.
Posted inMagazine
Best Investment Bank – Mexico
The past 12 months have seen capital markets activity and M&A pick up in Mexico following a crisis-inspired lull.
Posted inMagazine
Best Bank – Colombia
Banco de Bogotá has spent the last year rolling out a variety of new products and services in Colombia as it pursues a universal bank strategy, while also making moves cross-border.
Posted inDaily Brief
BI Has BRL516m for Buys
Brasil Insurance Participacoes e Administracao has BRL526m with which to fund its acquisition campaign. The company says it would deploy 80% of the proceeds of its recent BRL645m IPO to acquire insurance brokers. The company describes Brazil’s insurance industry as “highly fragmented” and cites data from Axco Consulting stating that 70%-80% of revenue in the sector is generated by small brokerages or independents. Brasil Insurance’s CEO declines to comment further, citing a quiet period.