Category: Industry

Information about Brazil’s economic sectors

BNDES invites 8 banks to broker stake in Petrobras

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.

Government studies compensation in case of oil rise

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.

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.

It is possible to increase Brazil’s agribusiness in a sustainable way, “king of soy”

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 ceases to source Cargill's Brazil soy

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.

Brazil retail sales up in October, but pace of growth almost grinds to a halt

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.