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SAO PAULO, Nov 23 (Reuters) - Brazilian bank Banco Safra acquired control of financial conglomerate Alfa for 1.03 billion reais ($192.2 million), the bank said in a statement late on Wednesday. Alfa, founded in 1925, was controlled by banker Aloysio Faria, who died in 2020. David Safra, one of the controlling shareholders in Grupo Safra, said the acquisition was an important milestone for the bank. Alfa was advised by Rothschild & Co. Safra's investment bank advised the group. ($1 = 5.3591 reais)Reporting by Tatiana Bautzer; Editing by Bradley PerrettOur Standards: The Thomson Reuters Trust Principles.
SAO PAULO, Nov 23 (Reuters) - JPMorgan Chase & Co (JPM.N) will keep growing in Latin America over the next few years as it expects the region's geopolitical outlook to improve, said Alfonso Eyzaguirre, the bank's chief executive for Latin America and Canada. He expects Latin America to profit from the changes. Latin America also stands to receive a large portion of private investment to tackle climate change, Eyzaguirre added. JPMorgan has been adding headcount and new services for corporate clients in Latin America. Brazil and Britain are the only countries apart from the United States where JPMorgan has retail banking activities.
[1/2] Brazil's former President and presidential candidate Luiz Inacio Lula da Silva and Sao Paulo Governor candidate Fernando Haddad react at an election night gathering on the day of the Brazilian presidential election run-off, in Sao Paulo, Brazil, October 30, 2022. Defeated President Jair Bolsonaro had not made public remarks more than 17 hours after the race was called. Some of his key allies have recognized publicly that Lula had won the race, easing concerns of contested election results. "There will be no transition problem, even if Bolsonaro reacts badly, most of his allies have already recognized Lula's victory". Francisco Levy, chief strategist at Empiricus Investimentos, said a favorable international reaction to Lula may help markets on the short term.
NEW YORK, Oct 24 (Reuters) - Yum Brands Inc (YUM.N) on Monday said that it reached a deal to sell its KFC restaurants in Russia to a local operator there, paving a path to fully exit the country. The restaurant operator, which also owns the Taco Bell and Pizza Hut brands, will transfer ownership of its Russian KFC locations, operating system and master franchise rights to Smart Service Ltd, which is run by existing Russian KFC franchisees Konstantin Yurievich Kotov and Andrey Eduardovich Oskolkov, Yum said in a press release. Once it is completed, Yum "will have ceased its corporate presence in Russia," the company said. In July, Yum said it transferred ownership of its Pizza Hut assets to a local Russian operator. read moreRegister now for FREE unlimited access to Reuters.com RegisterReporting by Hilary Russ; Editing by Chizu NomiyamaOur Standards: The Thomson Reuters Trust Principles.
Philip Morris and Swedish Match also declined to comment. Philip Morris last week hiked its offer for Swedish Match in an effort to win over shareholders waiting for a sweetened bid. Hedge funds, including Elliott Management Corp, have built up their stakes in Swedish Match in hopes of a higher bid. Under Swedish law, 90% of Swedish Match shareholders need to approve the offer before Nov. 4. Philip Morris is sticking to this acceptance rate.
A logo of the Atlantia Group is seen outside its headquarters in Rome, Italy August 31, 2018. REUTERS/Alessandro BianchiMILAN, Oct 24 (Reuters) - Atlantia's long-term investors, Singapore sovereign fund GIC and Italian banking foundation CRT, have tendered their shares in the takeover offer launched by the Benettons and U.S. investment fund Blackstone (BX.N), two sources close to the matter said on Monday. As of Friday, Italian bourse data showed the take-up had increased to 19.8% of the shares targeted by the offer, or around 13.2% of the group's capital. Atlantia's takeover bid will end on Nov. 11. Register now for FREE unlimited access to Reuters.com RegisterReporting by Elisa Anzolin; editing by Agnieszka FlakOur Standards: The Thomson Reuters Trust Principles.
SAO PAULO, Oct 24 (Reuters) - Brazilian pulpmaker Suzano SA (SUZB3.SA) said on Monday it reached a deal to buy Kimberly-Clark's (KMB.N) tissue paper operations in the country. In a securities filing, Suzano said the main asset included in the deal is a tissue production plant located in Sao Paulo state. A new company created by Suzano will hold the assets, as well as manufacture and distribute the tissue products, such as paper towels and napkins, it said. The firm did not disclose the value of the deal, but said that it does not have a significant impact on its indebtedness level. Register now for FREE unlimited access to Reuters.com RegisterReporting by Carolina Pulice and Peter Frontini; Editing by Isabel Woodford and Josie KaoOur Standards: The Thomson Reuters Trust Principles.
LONDON, Oct 24 (Reuters) - Three former executives at Russian online bank Tinkoff have raised $16 million to launch a fintech start-up focused on Southeast Asia and initially targeting the Philippines, they said in a statement on Monday. The trio leading the venture all left Tinkoff in the second quarter, soon after Russia's invasion of Ukraine triggered Western sanctions against Russia and after an announcement that Tinkoff's London-listed owner TCS Group Holding (TCSq.L) was planning to expand in Asia. Among the men leading the fintech start-up is George Chesakov, who was a co-founder of Tinkoff and had announced a week before the Ukraine invasion that TCS would team up with Swiss payment specialist BPC in the Philippines as part of a $200 million expansion into Asia. The other two men leading the rival venture are Pavel Fedorov, joint Tinkoff CEO in 2021-22, and Raffy Montemayor, a Filipino who will head the new business in the Philippines. Register now for FREE unlimited access to Reuters.com RegisterWriting by Kevin Liffey Editing by David GoodmanOur Standards: The Thomson Reuters Trust Principles.
RIO DE JANEIRO, Oct 23 (Reuters) - Brazilian politician Roberto Jefferson fired at police while resisting arrest ordered by the country's Supreme Court on Sunday for offending a justice, federal police said in a statement. Federal police said two officers were injured by shrapnel of a grenade thrown by the former congressman. Both went to the hospital and were later released, the statement said. Two opposition senators, Randolfe Rodrigues and Eliziane Gama had asked the Supreme Court to punish Jefferson for offending Lucia. Bolsonaro, who tried to distance himself from Jefferson, tweeted that he "condemns the statements against minister Carmem Lucia and armed resistance against the federal police".
Judge J.B. Franco de Godoi, at an appeals court, voided a previous court injunction that prevented Paper Excellence from concluding the transfer of ownership of Brazilian pulp maker Eldorado. Paper Excellence won an arbitration against Eldorado's current controlling shareholder, J&F Investimentos, which also controls meatpacker JBS SA (JBSS3.SA). But J&F went to the courts and obtained an injunction preventing the transfer of 100% of Eldorado shares to Paper Excellence. Paper Excellence will then consider how soon it can build a second unit, with an estimated capital expenditure of 10 billion reais ($1.94 billion). The Eldorado deal has been on hold for five years.
SAO PAULO, Oct 18 (Reuters) - Mercuria Energy Trading is one of three companies showing interest in registering and acquiring up to 200 million tonnes of jurisdictional carbon credits tied to the Amazon forest that are being sold by Brazil's Tocantins state, officials said. Tocantins expects the credits, generated between 2016 and 2032, to be worth up to 2 billion reais ($191 million), said state environmental official Marli Santos. Register now for FREE unlimited access to Reuters.com RegisterThe state will announce the winner on Wednesday, Tocantins said in a statement. If the deal closes and the credits are registered internationally, Tocantins said it would be the first state in the Brazilian Amazon to sell jurisdictional carbon credits. ($1 = 5.2484 reais)Register now for FREE unlimited access to Reuters.com RegisterReporting by Tatiana Bautzer Editing by Paul SimaoOur Standards: The Thomson Reuters Trust Principles.
With nearly 70 million Brazilians blacklisted by credit agency Serasa, owing 290 billion reais ($54.4 billion), debt relief is smart politics in a closely fought presidential campaign, ahead of an Oct. 30 runoff vote. Advisers say he would focus first on 95 billion reais of unpaid bills accumulated by families earning up to 3,600 reais ($676) per month. Later steps would focus on incentives to restructure bank debt, for this population. Looking to steal his thunder, right-wing incumbent Jair Bolsonaro announced a program offering a sharp discount on bank debts. But the scope is far more modest, applying to some 4 million borrowers from state bank Caixa Economica Federal, which estimated about 1 billion reais of restructuring.
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