August 1, 2019 |
No sooner did Brazilian President Jair Bolsonaro announce his intention to sell off government companies to reduce the country’s bloated bureaucracy than private equity investors from around the world began sizing up the portfolio of state-controlled enterprises.
There’s much to choose from. Consider Serpro, which provides technology services to the government and employs 6,000. Embrapa, an agricultural researcher, does everything from developing hardy tropical seeds to finding ways to improve the health of cattle. Its staff numbers nearly 10,000. And then there’s Natex, a small company tucked away in the Amazon rainforest with just 200 workers. Its chief product: latex condoms.
In all, Br
Potential investors eye a number of state-owned enterprises