BNDES seeks to offload equity stakes

BNDES seeks to offload equity stakes

M&A Equity Project & Infrastructure Finance Loans Economy & Policy Corporate & Sovereign Strategy Debt Politics Brazil

Brazil's BNDES will sell stakes held by its private equity division BNDESPar as part of a plan to pay back BRL100bn ($27.1bn) to the government this year, a spokesperson has confirmed. BNDESPar owns some BRL100bn in shares in Brazilian companies, including the meatpacker JBS, the aircraft manufacturer Embraer and the mining company Vale, with stakes as high as 25% in some cases, according to the local investment bank BTG Pactual. The development bank will consider "price and market impact" bef

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