Multinational conglomerate General Electric Co. intends to proceed with its project to construct a manufacturing site near a port in Rio de Janeiro. The port is being built by LLX Logistica, which was formerly run by Brazilian petroleum titan Eike Batista.
Tags: Brazil
EchoStar ends talks with GVT on Brazilian TV joint venture
US-based EchoStar Corp. said it had ended talks with Vivendi SA's subsidiary Global Village Telecom on a proposed partnership in Brazil. The joint venture aims to provide pay TV services in the Latin American country.
Wellard shipping assets attract strong interest from Brazil and Saudi
Fremantle-based livestock export giant Wellard Group’s shipping and land division have attracted strong interests from wealthy investors in Saudi Arabia and Brazil, according to industry insiders.
Kentz expands to US through USD435 million takeover of Valerus
Ireland-based construction and engineering company Kentz has taken over US-based Valerus Field Solutions for USD435 million (EUR316 million) in a deal that will also expose Kentz to Latin American markets.
Petroperu reviving share sale plans
State-owned oil company Petroleos del Peru SA (Petroperu) is reviving plans to sell as much as 49% of its shares,according to Energy and Mines Minister Jorge Merino.
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Telecom Italia's activist investor Marco Fossati campaigned against the enforced sale of TIM Brasil. Brazil's competition regulatory body ruled earlier this week that Telecom Italia must divest its stake in the Brazilian mobile carrier.
Private equity-backed CVC Brasil Operadora e Agencia de Viagens priced its shares at BRL 16 apiece for its IPO today, below its indicated price range of BRL 18 to BRL 22.
French building materials business Materis is reportedly in an advanced stage of negotiations to sell its business unit Kerneos. Investment firm Astorg Partners will acquire Kerneos for EUR610 million.
Brazil-based antivirus startup PSafe raised USD20 million in a Series C investment round led by Qihoo 360, to be used for building the firm's technology and awareness marketing.
UK-based multinational publishing and education company Pearson reportedly agreed to buy Brazilian Grupo Multi for GBP440 million in a cash and debt assumption. Grupo Multi provides English language training to over 800,000 students in Brazil.
Brazilian oil company OGX is reportedly in talks with bondholders about a USD150 million capital infusion in the struggling firm. OGX previously reported a loss of BRL2.1 billion and filed for bankruptcy with USD4 billion in debt.
Canadian gas and oil producer Pacific Rubiales Energy Corp (PREC) announced that it has closed the acquisition of light oil and pipeline firm Petrominerales Ltd.
The Galeao airport in Rio de Janeiro was sold to Odebrecht and its partner Changi Airports International for USD8.3 billion, a value almost four times the minimum bid.
The government of Brazil divested its ownership stakes in two major airports to groups of multiple buyers as part of its strategy to improve the country's infrastructure in time for the World Cup.
