Category: Business

Information regarding the business sector

Itelligence AG completes acquisition of FH S.A. in Brazil

Global SAP leading Itelligence AG announced today that it completed the acquisition of FH S.A. Brazil, owner of the local market leading tax solution ‘Guepardo’. “With revenue of R$ 168 million (37 million Euro) in 2019, an increase of 25% over the 2018 result, FH enters 2020 with an optimistic outlook on the market and plans to achieve R$ 200 million (44 million Euro)”, Ricardo Fachin, CEO of FH says in the press release.

ADM sells palm business in Brazil

Grain trader Archer Daniels Midland Co has sold its palm business in Brazil to local player Reflorestadora Moju Acará, according to the Brazilian antitrust watchdog Cade. The deal, whose value has not been disclosed, was part of a broader global portfolio review from ADM with businesses in Brazil that also include soy, corn, wheat and cotton.

State lender Caixa picks banks for insurance unit IPO

Brazilian state lender Caixa Econômica Federal has chosen the bank syndicate that will manage the initial public offering (IPO) of its insurance unit. Morgan Stanley will lead a 10-bank syndicate that expects expect to value it at around 60 billion reais ($14.77 billion). Caixa CEO Pedro Guimaraes wants an IPO in the short term, in March or April.

Natura buys Avon and becomes world's 4th largest beauty company

The Natura Group has completed the purchase of Avon Products and the company’s board of directors approved the incorporation of the US cosmetics manufacturer, in a deal that created the world’s fourth-largest beauty group and valued its 130-year-old US rival at approximately US$2 billion. Natura &Co will now have annual gross revenues of over $10bn and a total of 40,000 associates in over 100 countries.

Banco do Brasil will exempt clients from overdraft fee in 2020

Banco do Brasil (BB) account holders will not pay the overdraft fee that will come into force in June next year. In a statement, the financial institution said it had opted to insure current and new customers throughout 2020. CMN Resolution 4765 of 27 November 2019 provides that banks can charge this type of new contracts. , from January 6th. For current ones, the fare is expected to take effect on June 1, 2020.

Brazil probe into Petrobras widened to Maersk shipping contracts

Brazilian authorities targeted Maersk and other companies for allegedly paying bribes to get an edge in securing shipping contracts with Petrobras. Federal prosecutors said that Denmark’s A.P. Moller-Maersk, the world’s largest shipping company, was involved in allegedly paying $3.4 million in bribes related to 11 shipping contracts with Petrobras, worth 592 million reais ($141.07 million).