Inflation closes 2019 at 4.31% and remains above target

The Extended National Consumer Price Index (IPCA) closed 2019 at 4.31%, surpassing the key target for the year, which was 4.25%, says the Brazilian Institute of Geography and Statistics (IBGE) latest report. It is the highest annual inflation since 2016, when the index stood at 6.29%. December IPCA rose 1.15%, the highest result in a December month since 2002.

Source: G1

Food retailer GPA puts petrol stations up for sale

Brazilian food retailer GPA SA has put its network of petrol stations up for sale. Sources confirmed an earlier report which said GPA may fetch up to 1 billion reais ($245 million) for the gas stations and that Banco Bradesco’s investment banking unit has the mandate. GPA currently owns 123 stores across Brazil and 72 petrol stations with the brands Ipiranga and Raizen.

Source: Reuters

Singapore sovereign fund and Pátria win largest road concession in Brazil

A consortium formed by Brazilian private equity firm Pátria Investimentos SA and Singapore’s sovereign wealth fund GIC Pte won the auction for the Piracicaba-Panorama road lot (called PiPa) in the state of Sao Paulo, Brazil’s richest. The competition encompassed 218 kilometres currently operated by the Arteris Group’s Centrovias concessionaire, whose contract expires in the first quarter of this year, as well as 1,055 kilometres operated by DER-SP.

Source: InfoMoney