The National Bank for Economic and Social Development (BNDES) has invited eight banks to broker the sale of part of its Petrobras portfolio shares through a public offering of secondary distribution. The operation is expected to be done by March. . The development bank owns about 19% of the preferred shares and 10% of the common shares (as voting rights) of the oil company, which today are worth about R $ 56 billion.
The federal government is considering compensatory mechanisms for a possible rise in fuel prices if the crisis involving the United States and Iran hits the international oil market any harder, said Mines and Energy Minister Bento Albuquerque after meeting with President Jair Bolsonaro. However, he practically ruled out the possibility of instituting some kind of subsidy.
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.
Former senator and two-time governor of Matto Grosso, 63-year old billionaire Blairo Maggi, has been instrumental in the growth of Brazil’s agribusiness sector. He remains a leader of the “ruralist bench”, the agribusiness lobby that dominates Congress and supports President Jair Bolsonaro. In an interview with Al Jazeera, Maggi says that it is possible to increase Brazil’s agribusiness in a sustainable way.
Nestlé SA, which aims to eliminate deforestation from its supply chain over the next three years, has stopped buying Brazilian-produced soybeans from agricultural trading firm Cargill Inc. after a review couldn’t trace the oilseeds back to specific plantations, raising concerns that they were produced on converted land.
While research is scant, evidence points toward pesticide harm to Brazil’s wildlife, including the death of 500 million bees in four Brazilian states between December 2018 and February 2019. Another report found that 40 percent of samples collected from 116 tapirs were contaminated with insecticides, herbicides and heavy metals.
Brazilian food processors are poised to boost pork and chicken exports in 2020 as Chinese demand for imports remains strong while the Asian country deals with severe disruptions in local production, an industry group said on Thursday.
Brazilian retail sales rose in October for the sixth month in a row, official figures on Wednesday showed, although the pace of growth slowed to just 0.1%, suggesting the consumer started the fourth quarter on a cautious footing. That was below the 0.3% median increase forecast in a Reuters poll of economists, and the lowest month-on-month rise since May, figures from government statistics agency IBGE showed.
Vehicle Sales totaled 2.53 million units from January to November, representing an 8.3 percent increase compared to the same period last year, says National Association of Motor. In November, the number of vehicle registrations reached 242,300, corresponding to a drop of 4.4 percent over October and a rise of 4.9 percent over November of last year.