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Daily Brief

Dec 05, 2007 Issue

ArcelorMittal Moves for Remaining Brazil Stake

Brazil

Steelmaker ArcelorMittal plans to buy shares in ArcelorMittal Inox Brasil it does not already own for up to BRL3.2bn, in order to delist the unit. It will offer BRL100 pe...

Argentina to Sell More Bonars to Venezuela, Gets CAF Loan

Argentina

Argentina plans to sell $604m in 7% of 2015 Bonars to the Venezuelan government. The deal expands an existing program of the same bonds, most of which have been sold to V...

Colombia Investment Shop Buys Power Plant

M&A

Colombian holding company Colinversiones has bought the Central Termoelectrica Las Flores natural gas-fired power plant for $320m from a group of Colombian investors. It ...

Continental Appoints LatAm Head

Continental Airlines has appointed John Slater as MD, Latin America, effective January 1. He was formerly Continental's MD of distribution planning and electronic commerc...

Lamosa Makes Liquidity Push with $300m Follow-On

Mexico

Lamosa is planning to issue equity in the next year in a bid towards becoming one of Mexico's most liquid stocks, say bankers familiar with the company's plans. In Q1 200...

Lamosa Wraps up $900m Leveraged Financing

Mexico

Mexican home improvement products retailer Lamosa has wrapped up a financing package worth $900m, the proceeds of which were used acquire tile maker Porcelanite. A $675m,...

No Rating Impact from Chavez Loss

Fitch says Chavez's referendum loss will not have an immediate impact on Venezuela's ratings. "Changes in either the formulation or direction of the government's economic...

Uruguay to Fund Buyback with Cash on Hand

Uruguay plans to use excess cash on hand to fund a tender offer announced this week for global and local debt, according to a banker familiar with the issuer. It will pay...

Usiminas to Raise $3bn Through 2009

Brazil

Brazil's Usiminas plans to raise at least $3bn over the next 18-24 months to fund basic capital expenditures and manage the balance sheet, CFO Paulo Penido Pinto Marques ...