NEWSLETTER JULY 2024
MURRAY ADVOGADOS
Entries by Gelcy Bueno
Unigel raises tone against Petrobras after court decision
Public spending watchdog sees wrongdoings in tolling contract 08/02/2024 Roberto Noronha Santos — Foto: Silvia Zamboni/Valor The discussions between Unigel and Petrobras around the natural gas used as raw material in the fertilizer factories leased by the petrochemical company took on a new shape. In a report dated Wednesday (31), the Federal Court of Accounts (TCU) concluded that there […]
Market shows mixed reactions to Central Bank’s policy decision
Short-term interest rates dip amid balanced communication; long-term rates rise on external pressures and risk premium demands 02/08/2024 Denis Ferrari — Foto: Rogerio Vieira/Valor The reception of local agents to the Central Bank’s Monetary Policy Committee (COPOM) decision was mixed. While some of the market bet on and chose to see a harsher tone in the monetary […]
Supreme Court to decide on tax cases impacting public finances by R$712bn
Key case this month addresses the exclusion of ISS from PIS/Cofins calculations 02/08/2024 Saul Tourinho — Foto: Divulgação At least 32 critical tax cases against the federal government, states, and municipalities, with a combined estimated impact of R$712 billion on public finances, are currently pending before Brazil’s Supreme Court. Three of these cases are scheduled for this month, […]
With new owner, GSI aims to double in size in 5 years in South America
Company was part of AGCO’s grains and proteins division, sold to American Industrial Partners for $700m 07/31/2024 Ricardo Marozzin — Foto: Divulgação With a new owner, GSI is set to make waves in the storage and post-harvest systems market in Brazil and other South American countries. The goal is to double in size within five years, based on the […]
Budget freeze hits R$4.5bn in infrastructure program
Ministry of Health also faced cut of R$4.4bn 07/31/2024 The federal government released the Budget and Financial Programming Decree on Tuesday night (30), detailing a freeze of R$15 billion in expenditures. The document outlines a cut of R$4.5 billion from the new Growth Acceleration Program (PAC), and a limitation of over R$1 billion on parliamentary budget amendments. […]
Court-supervised reorganization volume rises, set to hit record in 2024
Second-quarter growth reaches 10.5% over last year, reports RGF Monitor 07/31/2024 Roberta Gonzaga — Foto: Divulgação The number of companies undergoing court-supervised reorganization in Brazil is on the rise, with a record volume anticipated for this year. The increase was 10.5% in the second quarter compared to the same period in 2023, according to the RGF Judicial […]
Mover’s heirs resume agreement with CSN to sell InterCement
Third generation of founders of former Camargo Corrêa wants to keep part of CCR shares given as collateral; negotiation depends on Benjamin Steinbruch 07/30/2024 The sale of InterCement is considered crucial for the group to focus on less problematic businesses — Foto: Divulgação The controlling shareholders of Mover, the company formerly known as Camargo Corrêa, are seeking […]
Listed company M&A activity accelerates
Attractive bargains and restructuring opportunities fuel interest 07/30/2024 Felipe Thut — Foto: Celso Doni/Valor The lackluster performance of the Brazilian stock market, which has significantly reduced the market value of many companies, is expected to spur mergers and acquisitions (M&As) involving listed companies. In search of bargains, firms in need of capital restructuring are becoming prime targets. Consequently, there […]
Thefts surge in retail sector affecting supermarkets, pharmacies
Internal and external thefts of all kinds have reached highest level since 2019, causing R$11bn in losses 07/30/2024 Estimates show that in 2023, internal and external thefts accounted for 31.7% of losses, the highest level since 2019 — Foto: Hermes de Paula/Agência O Globo In mid-March, the manager of a neighborhood market in Piraí do […]