Compagnie Financiere Tradition SA is set to acquire 30 per cent of CM Capital Markets Holding SA, a leading brokerage group in Spain and Brazil. In a press release, the two firms said they had agreed on an acquisition of 30 per cent and 15.2 per cent shareholding in Capital Markets Holdings.
Cetip SA, a Brazilian clearinghouse reported it had agreed to buy information processing firm GRV Solutions in a deal valued at 2 billion reais ($1.17 billion). In a securities filing, the firm said GRV's activities complement the current products and services offered by Cetip and reach practically the same client base.
US based auto maker General Motors Co. (GM), is planning to invest an additional US$1.2 billion in the expansion of its operations in Brazil. General Motors is the world’s fourth biggest car maker and its plans for 2011investment are meant for the expansion and updates of its Brazilian operations.
Reuters reported that Brazil's oil industry watchdog ANP will decide whether to approve British Petroleum's (BP) acquisition of Devon's blocks in Brazil next year. ANP's general director Haroldo Lima was speaking during an interview for news agency Reuters.
US based Sara Lee Corp. Tuesday reported it had signed an agreement to acquire Café Damasco, a coffee business based in the southern region of Brazil. The acquisition price represents a multiple of around one time annual sales. The transaction is expected to close on November 30th and will be filed with the Brazilian competition authorities for review and approval.
Repsol YPF SA is to sell off some of its stake as it seeks to raise funds for investments, to be undertaken in Brazil. Spain’s largest oil firm Repsol YPF SA announced its planning to raise close to $2.36 billion via the sale of a 15 per cent stake in its Argentine YPF SA unit. The move is as well aimed at cutting down Repsol’s holdings in Argentina.
PrimeHoldings.com Inc announced that its subsidiary TimeMarker Inc has concluded the acquisition of Brazil’s IT-Bibow INFO Ltd. PrimeHoldings.com Inc. is a diversified holding company with early-mover initiatives in the telecommunications and wireless auction space, and proprietary restaurant and hospitality industries software.
Finland based firm Pöyry has acquired 60 per cent of the shares of Silviconsult Engenharia Ltda, a Brazilian forest-oriented consulting company. The company's annual net sales are about €1.7 million. The value of the acquisition is not disclosed. The Brazilian firm has exhibited an impressive growth record, marked by improved revenue and range of businesses solutions it provides.
The Trelleborg group Thursday announced it is planning to set up a new facility in Brazil for the manufacture of products and solutions for the oil and gas industry in the country. Under the plans, the Swedish group will invest some SEK 160 million over a two-year period in a new plant for development and production in Brazil. The plant will manufacture products for the strongly growing offshore oil and gas extraction industry in Brazil.
Brazil based refrigerated and frozen products firm Sadia SA announced it had acquired Excelsior Alimentos. Sadia SA is currently a leading global producer of chilled and frozen food. Sadia SA’s refrigerated and frozen products include poultry, pork, beef, turkey and chicken. The firm boasts 16 distribution units located across 14 Brazilian states.
Brazilian publicly held company BR Malls Participacoes S.A. Tuesday announced it had bought 49.99 per cent of CIMA Empreendimentos do Brasil S.A. The deal gives BR Malls Participacoes the option to acquire the remaining 50.01 per cent stake of CIMA Empreendimentos do Brasil S.A. CIMA Empreendimentos do Brasil S.A. holds a 100 per cent stake in Shopping Tijuca and three commercial towers that are part of the same complex located in the Tijuca neighborhood in Rio de Janeiro.
Palfinger has purchased a 91 per cent stake in Brazilian crane manufacturer Madal S.A. Palfinger; the Austrian loader crane manufacturer picked up the stake in the Brazilian crane maker with estimated revenues of $15 million. Madal S.A is as well the South American market leader in hydraulic truck cranes and other hydraulic lifting equipment.
Apogee Enterprises Inc reported it had acquired Brazilian firm Glassec Vidros de Seguranca Ltda. In its press release, Apogee Enterprises said it had acquired 100 per cent of the stock of the Brazilian firm. Glassec Vidros de Seguranca Ltda is the leading architectural glass fabricator in Brazil and its takeover will cost Apogee approximately $22 million. The deal includes the assumption of approximately $2 million in debt of the Brazilian firm.
In an effort to enhance its business offering in Brazil, Actis reported it had invested $53 million in Brazilian cleaning products manufacturer Gtex. Gtex has brands such as Urca, UFE and Amazon. With the investment, Actis will now focus on commencing a comprehensive growth strategy plan for the Brazilian firm in the Brazilian market, targeted at introducing new product lines, geographical expansion and further acquisitions.
Petrobras and its partners are to invest $3 billion in the construction of three pipelines for the transport of Ethanol from Brazilian sugarcane growing areas to local markets, as well as for export. Paulo Roberto Costa, Petrobras director for supplies told reporters in Sao Paolo the state owned oil giant is mulling the investment plans, as it seeks to bolster its Ethanol export earnings.
Banco do Brasil may announce the acquisition of a US bank before year end. A source from the state owned Brazilian bank said at a press conference the Bank is in talks with an American bank and will be making an announcement before year end. Ivan Monteiro, Banco do Brasil financial vice president said the bank is engaged in talks with the US acquisition target currently.
Emerging iron ore producer South American Ferro Metals Limited (SAFM) announced it has commenced production of iron ore from its Brazilian acquired project, the Ponto Verde Iron Ore Project. The production was possible thanks to an agreement South American Ferro Metals Limited had with Brazil’s LGA Mineracao e Siderurgia (LGA).
Canadian subsidiary of HINDALCO Industries, Novelis Inc. is keen on increasing its flat rolled aluminum capacity in Brazil by 20 per cent, reported Brazilian newspaper BL. According to the report, the increase will see Novelis Inc’s production peak at 0.25 tons by the year 2014. The investment is mainly targeted at meeting the growing strong demand in the Asian expanse, said the firm.
Brazilian media reported over the weekend that a minimum of five banks have expressed interest in purchasing a stake in Brazilian mid-size lender Panamericano. The media reports come in the wake of Panamericano’s cash challenges; emerging just days after the lender received an emergency cash boost to plug what the firm termed “accounting inconsistencies.” Panamericano has been fighting to stay afloat, with the financial bailout rescuing it from an impending collapse.
Brazilian state owned and run oil and gas firm Petroleo Brasileiro is to invest about $400 billion in the period through 2020 in the development of crude findings in the country. In a report carried by Bloomberg, the major global oil producer is believed to be mulling plans for mega investments to develop what is currently considered the Americas’ biggest crude oil discoveries in over three decades.
US based General Electric (GE) Wednesday announced it is to spend $500 million in Brazil for the expansion of its operations. In separate announcements regarding its investment plans, GE said it is planning multi-million dollar undertakings in Brazil and China, to be invested in projects in clean energy, electric transportation and smart grid development.
Magna International’s operating unit, Magna Seating announced it will expand its presence in South America with the purchase of automotive seating supplier Resil Minas. Magna International is a manufacturer of complete seating solutions and mechanisms. The acquired Brazilian entity will operate under the name Magna Seating Brazil and is expected to bolster the firm’s operations Latin America.
Avanco Resources is to raise A$20 million for the acceleration of its expansion plans for its mining projects in Brazil. The Brazil focused mineral explorer said it will be raising the finances via a placement to institutional and sophisticated investors. The money is to be put into the expansion and speed-up of its copper and nickel/platinum projects.
The Brazilian Central bank approved the acquisition of a controlling stake in Argentina's Banco Patagonia SA by Brazil's largest bank, the state-owned Banco do Brasil SA, Banco Patagonia reported last week in a statement.