Day: June 1, 2020

Embraer will obtain $600 mn from BNDES

Embraer should obtain financing from the National Bank for Economic and Social Development (BNDES) and private banks worth $600 million to meet its demand for executive and commercial jets for the coming months, government sources under conditions of secrecy. This shows the company’s solidity and balance in the midst of the crisis that affects the airline sector.

Source: UOL Economia

Latam registers a loss of $2.1 billion

Latam reported a net loss of $2.120 billion (R$11.5 billion) in the first quarter. The value is 35 times the losses recorded in the same period of 2019, of $60 million (R$325.9 million). According to the company, the result is explained by a reduction in capital gain of $1.729 billion due to the coronavirus crisis and which, according to the company, does not affect the company’s cash.

Source: Folha

Petrobras concludes sale of seven onshore fields for $128mn

Petrobras concluded the sale of its stake in seven onshore production fields for R$676.8 million ($128 million). The fields, located in the Potiguar Basin in Rio Grande do Norte, were purchased by SPE 3R Petroleum which is a subsidiary of 3R Petroleum and Participations. In a statement, Petrobras says the operation is in line with the strategy of portfolio optimisation and better allocation of capital.

Source: Valor Investe

Private equity fund IG4 buys two hospitals for $38 mm amid pandemic

The private equity fund IG4 bought two hospitals for R$200 million ($38 million) through its recently created health company OPY Health in the midst of the coronavirus pandemic, according to sources with knowledge of the matter. The last purchase, from Delphina Rinaldi Abdel Aziz hospital, was closed on Friday. The Metropolitano hospital, in Belo Horizonte, was purchased by OPY in March.

Source: Reuters