Union bailout to states due to pandemic was $13.5 bn in 2020

The Union’s bailout of the states due to the pandemic of Covid-19 added up to R$ 76.9 billion ($13.5 bn) in 2020, according to data from the National Treasury. The values include direct transfers to the cash of governors (R$37 billion, $6.5 bn), as well as the recomposition of the Participation Fund of States (R$7.4 billion, $1.3 bn) and the temporary suspension of debts with the federal government (R$32.5 billion, $5.7 bn).

Source: G1 Economia

Geru and Rebel make a merger of $175 mm for the personal credit market

Geru will represent around 65% of the total and Rebel, 35%. The company is born evaluated in R$ 1 billion ($175 mm) and with a project to multiply by 10 the credit origination, from an estimated total of R$ 900 million ($157 mm) this year to more than R$ 9 billion ($1.6 bn) in 2025. The brands, however, remain separate. But together, the companies want to reach a revenue of R$ 3.4 billion ($596 mm) by the end of 2025.

Source: Exame

Energisa Borborema plans to invest $3.1 mn in 2021

With 224,000 billed customers in its concession area, which covers six municipalities in the interior of Paraíba, Energisa Borborema plans to invest R$17.9 million ($3.1 mm) this year. The amount is in line with the annual average of the last five years, when the distributor that serves six municipalities in Paraíba invested R$ 80 million ($14 mm) between 2016 and 2020.

Source: Energia Hoje