Australian miner EnviroGold says it plans to increase its stake in Dominican Republic-based gold project Las Lagunas to 100% from 92.5%. It does not disclose the price, which will be paid in 3 tranches over 2 years. The company also secured financing of AUD37.5m from Macquarie to finance the project’s development, dependent on a successful acquisition of the remaining stake. Terms of the financing are not being disclosed and company officials could not be reached for comment.
Category: Regions
Posted inDaily Brief
Japanese Buy Aguas Nuevas
Japan-based trading company Marubeni and the Innovation Network Corporation of Japan (INCJ) have bought Chilean water utility Aguas Nuevas from Santander, according to a stock exchange filing. According to a report in a local newspaper, Marubeni and INCJ each paid $124m, for a 50% stake in the company. Santander and Aguas Nuevas did not return calls for comment. Marubeni did not return an e-mail seeking comment.
Posted inMagazine
Infrastructure Investment: The Big Shortfall
As LatAm stares down a growing list of infrastructure needs, builders and governments hope private lenders return. The only certainty is multilateral and state lending.
Posted inMagazine
Best Investment Bank – Colombia
Leveraging deep and long-standing corporate relationships has been a successful strategy throughout the global financial crisis for Bancolombia.
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
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 inMagazine
Debt: Quasi Sovereigns on Deck
To the relief of dizzy investors and baggy-eyed bankers, LatAm issuers began to take a minor breather in October, slowing from September’s breakneck pace that saw $14.6 billion in cross-border dollar bonds.
Posted inMagazine
Best Bank – Guatemala
With economic growth returning to Guatemala after a relatively shallow crisis, its banks can return to plans being made prior to 2008.
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
China Latin America Links Proliferate
Cultural barriers remain, but the China-LatAm relationship is starting to blossom. Both sides hope to convert dialogue into more frequent large transactions.