Brazil

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Brazil President Dilma Rousseff Asks Hostile Congress to Pass Austerity Bills

Embattled Brazilian President Dilma Rousseff called on Congress to approve a new tax on financial transactions and other potentially unpopular bills to balance the nation’s finances and reverse a deep recession, The Wall Street Journal reported. Ms. ...

Daily Headline - global.abi.org - 02/02/2016 - 21:11 - 0 comments

Brookfield Withdraws Offer To Buy Invepar Stake, Sources Say

Brookfield Asset Management Inc has withdrawn an offer to buy the 24.4 percent stake in infrastructure company Invepar held by Brazil's Grupo OAS SA because Brookfield would not have full management control of the company, two sources with direct kn ...

Daily Headline - global.abi.org - 02/01/2016 - 20:12 - 0 comments

Brazil Court Upholds OAS Bankruptcy Plan, Paving Way For Asset Sales

A Brazilian bankruptcy court upheld a restructuring plan for embattled engineering conglomerate Grupo OAS, paving the way for a slew of asset sales aimed at helping pay over 8 billion reais ($2 billion) in liabilities. In a Thursday statement, the São Pa ...

Daily Headline - global.abi.org - 01/28/2016 - 21:08 - 0 comments

Brazil A Bright Spot For Debt Restructuring Advisors As Recession Bites Hard

Debt restructuring firms are poised to pull in record amounts of business in Brazil this year as the country's worst recession in decades and a corruption probe that has cast a shadow over dozens of companies leads to a surge in defaults, Reuters re ...

Daily Headline - global.abi.org - 01/28/2016 - 21:10 - 0 comments

Brazil Seeks Buyers For Abandoned Abengoa Transmission, Wind Projects

Brazil's Mines and Energy Ministry said on Friday it held talks this month with various investors in the transmission line and wind sectors to feel out potential interest in taking over local projects abandoned by Spain's financially distressed ...

Daily Headline - global.abi.org - 01/24/2016 - 22:48 - 0 comments

Wind Generators Look To Take Over Abengoa Brazil Transmission Lines

Power companies with wind-generation capacity could take over transmission line projects in Brazil operated by Abengoa SA after the Spanish construction group's insolvency filing halted work on the systems, Reuters reported. Candidates include group ...

Daily Headline - global.abi.org - 01/19/2016 - 19:29 - 0 comments

Brazil’s Vale Will Draw $3 Billion From Credit Lines

Brazilian mining giant Vale SA on Tuesday said it would borrow $3 billion in emergency financing, a sign of distress from the world’s largest iron-ore producer, The Wall Street Journal reported. Vale said the revolving credit line would “increase liq ...

Daily Headline - global.abi.org - 01/12/2016 - 23:51 - 0 comments

Brazil Cans Carnival As Recession Bites

Pack away the nipple tassels and dismantle the floats: carnival has been cancelled, the Financial Times reported. Towns and cities across Brazil are being forced to scrap the annual carnival parade as the country is braced for what is expected to be ...

Daily Headline - global.abi.org - 01/11/2016 - 22:23 - 0 comments

Brazilian Government Repays $14 Billion to State Banks

Brazil’s government yesterday said that it repaid $14 billion advanced to it by state-controlled institutions, effectively erasing controversial public financing operations that are at the heart of impeachment proceedings pending against President Dilma ...

Daily Headline - abi_admin - 12/31/2015 - 14:09 - 0 comments

Brazilian Government Settles $18.2 Billion Owed to State Banks

of meeting the primary budget surplus target of 0.5 percent of gross domestic product. The decision ...

Daily Headline - abi_admin - 12/30/2015 - 14:03 - 0 comments

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