President of Azul Linhas Aéreas, John Rodgerson, announced the purchase of 75 Embraer aircraft during a meeting with Brazil President, Jair Bolsonaro. With the expansion of the air fleet and the purchase of regional carrier Two Flex for R$123 million, which will add 36 new national destinations, Azul plans to reach 200 national destinations in the next three or four years.
After more than tripling last year, share offerings activity is expected to accelerate, with some bankers predicting that offerings may reach up to 200 billion reais ($48 billion). Brazilian stock sales were equivalent to 85% of all equity activity in Latin America in 2019, while Brazil’s gross domestic product is only about a third of the wider region’s.
Sao Paulo-based beef giant Minerva SA is withdrawing a planned IPO of Athena Foods in Chile amid market turmoil and economic uncertainties in Argentina. A trading debut in Chile was part of Minerva’s strategy to lower debt. Instead, the company opted to sell shares in Brazil. Athena, which holds Minerva’s operations in Argentina, Chile, Colombia, Paraguay and Uruguay, will continue as a Minerva subsidiary.