With Sale of Marfrig Shares, BNDES Starts to Wean “National Champions”

BNDES collected approximately R$2 billion from the sale of securities. For January next year, the sale of half of the institution's stake in another national champion, JBS is also on the agenda.

RIO DE JANEIRO, BRAZIL - The policy of strengthening large private Brazilian companies by means of public financing through the National Bank for Economic and Social Development (BNDES), which gave rise to the term "national champions" to those favored few, began to be dismantled officially on Tuesday, December 17th.

This was when the sale of a new issue of Marfrig shares (MRFG3) was finalized so that the development bank could sell its 34 percent stake in the . . .

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