Bankruptcy petitions jump 12.7% in 2020, says Boa Vista

Bankruptcy claims in 2020 jumped 12.7% and bankruptcies decreed rose by 1.9% compared to 2019, according to national figures from Boa Vista. Over the same period, there was also an increase in judicial recovery requests and granted recoveries by 13.4% and 11.1% respectively. In December alone, according to the survey, bankruptcy petitions rose by 38.31% and bankruptcies decreed increased by 30.4% in the annual comparison.

Source: R7

Ford has $62 mm in loans with BNDES

BNDES said it has two direct financing contracts with Ford, totalling R$335 million ($62 mm). According to the bank, the services were contracted in 2014 and 2017 and were aimed at projects to develop new products of the automaker in the country. The bank contacted the company to ask for further clarifications about the closure of the plants and is waiting for an answer to assess the impacts.

Source: Folha

Grain harvest is expected to grow 2.5% in 2021 and break a record of 260.5 million tonnes

Brazil’s grain harvest is expected to reach a record volume of 260.5 million tons in 2021, up 2.5% from 2020, the IBGE announced through the Systematic Survey of Agricultural Production (LSPA). While soybean production is expected to increase again (+6.8%), second-harvest maize harvests (-1.8%) and herbaceous cotton (-14%) are expected to fall.

Source: G1

New Fortress marks entry into gas in Brazil with acquisitions of $5 bn

New Fortress Energy announced it will buy Hygo Energy Transition and Golar LNG in a $5 billion combined deal that marks the group’s entry into Brazil’s natural gas sector. At the same time, the energy infrastructure company said it has sealed a memorandum with BR Distribuidora and CCETC Brasil Holding for potential purchase of thermal generation assets in the country.

Source: 6 Minutos

Sinqia to invest $9.3 mm in startups

Sinqia, a leading technology and innovation company for the financial market, will invest more than R$50 million ($9.3 mm) in innovation and startups through Corporate Venture Capital (CVC) funds from 2021 onwards. The company announced the launch of Torq Ventures, the company’s innovation hub and now investment hub.

Source: Money Times