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Banco Macro SA won’t move forward with a final offer to buy Banco Patagonia SA from Banco do Brasil SA after entering into exclusive talks earlier this month, according to two people with knowledge of ...
Neoenergia SA, whose takeover of a smaller rival will turn it into Brazil's No. 1 power utility by customers served, is working on a dual initial public offering in São Paulo and New York that could value it at around 35 billion reais ($11 billion), three people with direct knowledge of the plan said. The IPO could be launched around September, when the people expect Neoenergia SA to have won industry regulatory approval for Elektro Eletricidade & Serviços SA's takeover. Spain's Iberdrola SA will have 52.4 percent of Neoenergia once the takeover is completed.
Financial technology firms in Brazil are targeting lending to small- and mid-sized companies to fill a gap in the credit market left by large lenders deterred by rising delinquencies and narrow margins. Fintech firms in Brazil have been growing fast in sectors such as consumer lending and credit cards, seeking to undercut some of the highest interest rates in the world offered by traditional banks. Banco Inter and other fintechs are expanding into "bridging loans" for small businesses borrowing against their receivables from supply contracts with major companies, offering lower rates than traditional banks.