Business news: Porto Seguro, Ambicar acquisitions; May reports on debt; Congress discusses printed ballots
RIO DE JANEIRO, BRAZIL – Below are some news important for businesses this Monday.
Porto Seguro buys 50% of ConectCar
Portoseg, a subsidiary of Porto Seguro, has signed an agreement with Ipiranga, a company of Ultra Group, to acquire 50% of the shares of the automatic toll payment company ConectCar. The value of the transaction is R$165 (US$33) million, subject to adjustment until the final settlement of the transaction.
Ambipar buys Chilean waste management company
São Paulo-based Ambipar, an environmental management company, has bought 100% of Chilean company Disal, which has been active in the collection and treatment of industrial waste for more than 40 years in Chile, Peru, and Paraguay. It is Ambipar’s 13th acquisition since going public last July. The stock has risen 60% since its debut.
Brazil’s Central Bank provides information on money and credit statistics for May
The Central Bank will issue, at 9:30 AM, a report on monetary policy and credit operations for the month of May. In April, credit to the non-financial sector amounted to R$12.3 (US$2.46) trillion (160.0% of GDP), a decrease of 1.5% for the month. Year-on-year, credit expansion grew by 14.5%.
Ministry of Finance releases May report on public debt
At 2:00 PM, the Treasury Secretariat will unveil the May edition of the monthly Federal Debt Report (DPF). The national debt decreased by 2.92% in nominal terms from March to April, to a total of R$5.089 trillion.
House committee discusses physical ballots in elections
The House Special Commission on PEC 135/19, on printed ballots for elections, meets at 3 PM to discuss the administration’s proposal to make mandatory the printing of all electronic ballots for auditing purposes. The Superior Electoral Tribunal opposes the measure, which it claims will lead to chaos similar to that in the U.S. 2020 elections.
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