Spanish magnate makes foray into oil in Latin America
Alberto Cortina joins group of Venezuela-led investors
Spanish billionaire Alberto Cortina has made his first foray into oil, joining a group of Venezuelan and Argentine investors to demand a better buyout price for Colombian producer Pacific Rubiales Energy Corp. Cortina’s Cinainvest Holding declared in Canadian filings Monday that it owns 500,000 Pacific Rubiales shares. That would bring the stake controlled by a group led by Caracas-based investor Alejandro Betancourt to 19.18 percent. Bloomberg reports.
Mexico’s industrial output pressures growth forecast
Output was dragged down by mining and oil
Mexican industrial output unexpectedly stagnated in March compared with February, dampening growth hopes and putting pressure on the government’s forecast for a third year running. Adjusted for seasonal swings, output was flat in March month-on-month, figures from the national statistics office showed on Tuesday. Compared with the same month a year earlier, industrial production in March increased by 1.7 percent, below the survey forecast for a rise of 1.85 percent. Reuters reports.
HSBC close to choosing buyer for Brazil arm
Banks eyeing deal include Santander, Bradesco and China Construction Bank
HSBC Holdings will probably select a preferred bidder for its unprofitable Brazilian unit as early as mid-June in a sale that may raise about $4 billion, said two people with knowledge of the plan. Banks interested in the operation include Brazil’s Banco Bradesco SA and Grupo BTG Pactual, Spain’s Banco Santander, Bank of Nova Scotia from Canada, Industrial & Commercial Bank of China and China Construction Bank. Bloomberg reports.
Brazil stock exchange eyes expanding to Latin America
Bovespa purchased 8 percent stake in Chile’s exchange
BM&FBovespa, Brazil’s sole listed exchange, wants to expand further across Latin America, following the purchase of an 8 percent stake in Chile’s Bolsa de Comercio de Santiago, Chief Executive Officer Edemir Pinto said. Similar stake purchases will continue, Pinto said at an event in São Paulo. Late last year, Pinto said BM&FBovespa had plans to become a minority shareholder in bourses in Argentina, Mexico, Colombia, Chile and Peru. Reuters reports.
Brazil stock exchange eyes expanding to Latin America
Bovespa purchased 8 percent stake in Chile’s exchange
BM&FBovespa, Brazil’s sole listed exchange, wants to expand further across Latin America, following the purchase of an 8 percent stake in Chile’s Bolsa de Comercio de Santiago, Chief Executive Officer Edemir Pinto said. Similar stake purchases will continue, Pinto said at an event in São Paulo. Late last year, Pinto said BM&FBovespa had plans to become a minority shareholder in bourses in Argentina, Mexico, Colombia, Chile and Peru. Reuters reports.
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