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☆ Brazil's Localiza launches $935.5 mln share offering to expand fleet
▼ + stars: | 2023-06-16 | by ( ) www.reuters.com time to read: +1 min

SAO PAULO, June 16 (Reuters) - Brazilian car rental company Localiza (RENT3.SA) said on Friday it will launch a follow-on share offering aimed at raising as much as 4.5 billion reais ($935.51 million) to expand its car fleet and service network. The primary offering will initially comprise 60.02 million new shares, Localiza said in a securities filing, but could be increased by up to 12.5% if demand allows it. Considering its closing price of 66.64 reais per share on Thursday, the offering would total around 4 billion reais, the company said. Shares of Localiza slipped around 2% after the move was announced, making it one of the biggest fallers on Brazil's Bovespa stock index (.BVSP). ($1 = 4.8102 reais)Reporting by Gabriel Araujo; Editing by Steven Grattan, Louise Heavens and Conor HumphriesOur Standards: The Thomson Reuters Trust Principles.

Persons: Localiza, Bradesco, BTG Pactual, Gabriel Araujo, Steven Grattan, Louise Heavens, Conor Humphries Organizations: SAO PAULO, JPMorgan, UBS Brasil, Santander, Bank of America, Banco Safra, XP, Thomson Locations: Santander Brasil

SAO PAULO, Jan 12 (Reuters) - Shares in Brazilian retailer Americanas SA (AMER3.SA) fell more than 75% on Thursday after its chief executive officer resigned citing the discovery of "accounting inconsistencies" totaling 20 billion reais ($3.9 billion). Rial attributed the inconsistencies to differences in accounting for the financial cost of bank loans and debt with suppliers. The outgoing CEO said Americanas would likely need a capital increase, though noted he didn't expect a short-term impact from the inconsistencies on its cash position. Analysts at Santander and JPMorgan, who rated Americanas "Neutral" and "Underweight" respectively, also forecast a major negative reaction to the news. PwC, Americanas' auditor, declined to comment on the accounting inconsistencies referred to by Rial.

☆ Brazil's Banco Safra buys Alfa financial conglomerate for $192 mln
▼ + stars: | 2022-11-24 | by ( Tatiana Bautzer | ) www.reuters.com time to read: 1 min

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.

Joseph Safra a ajutat la conducerea și extinderea imperiului bancar și financiar al familiei sale, printre clienții acestuia numărându-se elite financiare din întreaga lume, de la Sao Paulo până la Monte Carlo sau New York. Acesta a murit de cauze naturale, potrivit unui comunicat remis de Banco Safra. Ca membru al celei mai proeminente familii evreiești de afaceri, acesta este creditat cu transformarea Banco Safra în una din cele mai sigure bănci braziliene. Safra a sosit în Brazilia ca adolescent, iar în urmă cu mai bine de 50 de ani era deja cel mai bogat om din Brazilia și bancherul cu cea mai mare avere din lume, estimată la aproape 23 de miliarde de dolari.

Persons: Joseph Safra, Sao Paulo, Banco, Safra Locations: Sao, Monte Carlo, New York, Brazilia

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