Category: People

Petrobras has appointed Decio Fabricio Oddone da Costa as CEO of its Argentine unit Petrobras Energia Participacoes. Oddone, who is now international manager for the southern cone, will take the new position February 1. He replaces Carlos Fontes, who will hold a new senior management position in Brazil.

The Bovespa wants to attract more business from non-Brazilian issuers, Gilberto Mifano, the exchange’s CEO, tells LatinFinance. The exchange, which this year went public in a blowout IPO, is planning a more proactive approach and will visit other LatAm markets, says Mifano. He adds that the process will be transparent and in collaboration with exchanges and regulators. “This is not going to be an imperialist process to steal away market share,” says the official. Bovespa attractions that the exchange will look to highlight include access to international investors and better liquidity. “Foreigners are very comfortable buying into Brazilian companies on the Novo Mercado,” says Mifano. He notes that offshore investors purchase 70%-80% of new issues on the Bovespa.

The Bovespa wants to attract more business from non-Brazilian issuers, Gilberto Mifano, the exchange’s CEO, tells LatinFinance. The exchange, which this year went public in a blowout IPO, is planning a more proactive approach and will visit other LatAm markets, says Mifano. He adds that the process will be transparent and in collaboration with exchanges and regulators. “This is not going to be an imperialist process to steal away market share,” says the official. Bovespa attractions that the exchange will look to highlight include access to international investors and better liquidity. “Foreigners are very comfortable buying into Brazilian companies on the Novo Mercado,” says Mifano. He notes that offshore investors purchase 70%-80% of new issues on the Bovespa.

Latin America’s two biggest exchanges – the Bovespa and the BM&F – are not discussing a merger, according to Bovespa CEO Gilberto Mifano. “There are no plans or proposals for anything yet,” Mifano tells LatinFinance, adding that the two sides have not held any talks recently. Bovespa and BM&F were recently rumored to be considering joining forces in the wake of successful IPOs. Prior to both exchanges’ demutualization, talk of a merger was also circulating, but the two ended up choosing to pursue shareholder restructurings and IPOs independently, says Mifano. If set up properly, a union between the two could make sense, notes Mifano, pointing to cases such as the Deutsche Bourse and exchanges in Hong Kong, Australia and Singapore, which integrated their various platforms successfully. The Bovespa went public October 24 via Goldman and Credit Suisse. The BM&F priced its offering November 28 via Morgan Stanley, Bradesco, JPMorgan, Merrill Lynch, Itau BBA, Deutsche Bank and Citi.

Latin America’s two biggest exchanges – the Bovespa and the BM&F – are not discussing a merger, according to Bovespa CEO Gilberto Mifano. “There are no plans or proposals for anything yet,” Mifano tells LatinFinance, adding that the two sides have not held any talks recently. Bovespa and BM&F were recently rumored to be considering joining forces in the wake of successful IPOs. Prior to both exchanges’ demutualization, talk of a merger was also circulating, but the two ended up choosing to pursue shareholder restructurings and IPOs independently, says Mifano. If set up properly, a union between the two could make sense, notes Mifano, pointing to cases such as the Deutsche Bourse and exchanges in Hong Kong, Australia and Singapore, which integrated their various platforms successfully. The Bovespa went public October 24 via Goldman and Credit Suisse. The BM&F priced its offering November 28 via Morgan Stanley, Bradesco, JPMorgan, Merrill Lynch, Itau BBA, Deutsche Bank and Citi.

Brazilian mining powerhouse CVRD has changed its name to Vale as part of what it calls a “new brand and new communications positioning.” Donning a white hard hat, CEO Roger Agnelli made the announcement Thursday to about 500 managers from around his expanding empire. They were gathered in Rio auditorium and entertained by an enthusiastic drum-banging, singing and dancing troupe. The new logo – a warped green and yellow ice cream cone – is designed to bring the iron ore producer “closer to people,” says the firm. The new positioning and brand “highlight the fact that Vale produces essential ingredients for daily life, supplying, with its iron ore production, the raw material for several products like computers, watches or stoves,” adds the entity formerly known as CVRD. “With its new visual identity the company aims to consolidate its image as a Brazilian company with global action, highlighting its distinctive position in the international landscape,” the firm’s PR machine gushes. Bankers hoping for business from the frequent issuer are advised to abolish immediately the following from their lexicon: “Companhia Vale do Rio Doce,” “Rio Doce,” and the acronym CVRD.