There have been vast improvements in infrastructure in Latin America over the last decade and projects are increasingly being planned, financed and completed across the region. Infrastructure is an essential and strategic platform for growth, competitiveness and stability.
Category: People
Posted inDaily Brief
Gerdau Climbs Value Chain
Mario Longhi, president and CEO of Gerdau Ameristeel, notes the acquisition is consistent with Gerdau Ameristeel’s strategy to further diversify its product offering into high value added steel products, and believes the deal will generate annual pre-tax operating synergies in excess of $55m by the end of 2008. Also, the equity offering is expected to dilute 2007 and 2008 EPS. Moody’s and Fitch put Gerdau and Gerdau Ameristeel on review for downgrade yesterday noting that the deal could significantly increase Ameristeel’s leverage. “Were Ameristeel’s Debt/EBITDA to increase beyond 3.0x, its ratings could be downgraded multiple notches,” Moody’s noted.
Posted inWeb Articles
Andean Investment Forum
The first Andean Investment Forum will gather those public and private sector leaders, both international and regional, whose decisions shape the present and future of the Andean economy to discuss and debate investment opportunities in the region, the evolution of the financial markets, challenges and solutions in capital-raising for the corporate sector, and economic integration and growth.
Posted inWeb Articles
Latin American Banking Leadership Council
During the IDB and IMF annual meetings, LatinFinance gathers board members of the Latin American Banking Leadership Council for an afternoon to foster a greater level of discussion and interaction between senior banking executives active in the region.
Posted inWeb Articles
Brasil: Desempenho Extraordinário & Novas Classes de Ativos
O rápido crescimento econômico do Brasil e a inovação financeira associada estão gerando uma série de novos ativos, tanto financeiros – derivativos, títulos lastreados em ativos – como reais – commodities, bio-combustível e agronegócio. Por sua vez, isso está fomentando o crescimento da quantidade e do tipo de investidores internos, inclusive o rápido crescimento dos fundos hedge e das operações de private equity locais, bem como a maior participação de todos os tipos de investidores internacionais.
Posted inDaily Brief
GAP’s Del Rio Heads To Abertis Airports
The departing CEO of Mexican airport operator Grupo Aeroportuario del Pacifico, Carlos del Rio, will become the new chief executive of Spanish firm Abertis Airports, according to a press release from GAP. Del Rio will remain part of GAP as a board member and as a member of the Operating Committee.
Posted inDaily Brief
Godoy Joins BrasilPrev
Tarcisio José Massote de Godoy, Brazil’s former treasury secretary, will become CEO of private pension company and insurer BrasilPrev on September 1. Godoy resigned from Brazil’s treasury in early June after temporarily replacing Carlos Kawall. Arno Augustin, a former finance secretary in the southern state of Rio Grande do Sul and deputy executive-secretary under former minister of finance Antonio Palocci, became Brazil’s treasury secretary in early June.
Posted inDaily Brief
Agnelli and Immelt Stress CSR
Roger Agnelli, chairman and CEO of CVRD and Jeffrey Immelt, chairman and CEO of GE, stressed the importance of corporate and social responsibility in Latin America at a dinner hosted by the World Education & Development Fund on Monday to honor the business leaders for their commitment to educating underprivileged children in Latin America. Immelt told CEOs, bankers, investors, attorneys and fund raisers gathered at the event that he had never been so optimistic about Latin America’s economies. “It is one of the great places to invest over the next five to 10 years. We have $7 billion in revenues in Mexico and I think we could double that in the next three years. Brazil is incredibly exciting and Chile, Colombia and Central America are opening up for the first time,” says Immelt. GE’s chairman also stressed the importance of building competitive and equitable societies by being a responsible corporate citizen. “All of us see globalization as a tremendous opportunity for our companies, but nobody outside this room agrees with us. We have to give back to make communities more responsible and more self confident,” says Immelt.
Posted inDaily Brief
Inco Acquisition on Track
Roger Agnelli, chairman and CEO of CVRD tells LatinFinance that the acquisition of Inco is progressing “very well”, noting the smooth integration of both cultures. “The environmental problems we thought we had at Inco have turned out to be very manageable,” he adds. Inco was the target of a class action law suit in Canada for contaminating communities in a plant in Ontario. Agnelli adds that he expects CVRD to report strong earnings in 2007, regardless of the softening market environment.
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The 7th Euromoney/LatinFinance Caribbean Investment Forum
Regional rainmakers will be joined by a strong international contingent of direct and portfolio investors, many of whom will be keen to know whether the Caribbean’s continued economic uptick is sustainable, particularly in light of burgeoning levels of public debt.