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.
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.
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.
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 (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.
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).
Brazilian pharmaceutical company EMS is expected to offer 1.5 billion reais ($357.5 million) to acquire painkiller brand Buscopan from German company Boehringer Ingelheim and its Brazilian rival Hypera SA is also interested in the deal, one source with knowledge of the matter said.
The incorporation of Colombian Almacenes Éxito into the Pão de Açúcar Group (GPA) provides positive results on all fronts said the company’s president Peter Estermann. Over the 12 months up to September, Pão de Açúcar Group (GPA) revenues in Brazil reached R$53 billion; operations in Colombia with the Éxito Group totaled R$18 billion.
After growing its lending business in West Africa, emerging markets credit startup Migo is expanding to Brazil on a $20 million Series B funding round led by Valor Capital Group. The San Francisco based company — previously branded Mines.io — provides AI driven products to large firms so those companies can extend credit to underbanked consumers in viable ways.
Telxius has struck a deal with Telefónica Brasil (Vivo) for the acquisition of 1,909 sites in Brazil for R$ 641 million ($153 million). Under the terms of the agreement, Telxius will double its existing portfolio bringing it to a total of 3,850 sites and reinforcing its position as a one of the biggest infrastructure operators in the country.