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We focus on local and international deals up to US$500 million in value across a wide range of sectors. Since the start of 2012 our partner firms have collectively completed over 230 deals, in 30 countries worldwide with an aggregate value of over US$17.5 billion.

Broadspan Capital, Mergers Alliance partner in Brazil, launches its country report, Brazil Overview, Macro and Political Landscape

20th December 2017

Brazil starts to show signs of economic recovery, but is still being slowed down by the political news front.

Key observations:


▪ After 2 years of negative economic growth, rampant inflation rate, increasing public deficit and unemployment, Brazil is finally experiencing a recovery in its main financial activity indexes.


▪ Looking forward, the economic case for Brazil is solid. Inflation is falling rapidly (accumulated inflation between January and October is at 2.7%, and the financial market projects the inflation index – IPCA – at 3.0% by year’s end), and GDP is showing signs of growth after a long period of consecutive decreases.


▪ The decreasing inflation opens space for additional cuts in the base nominal interest rate, lowering the cost of credit, relieving the cash flows of indebted companies and further boosting economic activity.

- Brazil Central Bank has cut 7.0% in the Brazilian base nominal interest rate (Selic rate) in a period of 14 months, from 14.0% in October 2016 to 7.0% in December 2017.
- Lower nominal interest rates also impact the availability of credit, which should recover its growth trajectory after a -3.5% contraction in 2016.


▪ Together with economy stabilization, labor market conditions are showing the first signs of recovery: Brazil is once again creating jobs (even though mostly in informal positions). Despite that, the Brazilian employment rate is still high and expected to be at a 12.8% level by the end of 2017.


▪ The unpredictability of the 2018 presidential elections remains a major factor preventing a faster economic recovery: in the next 11 months, the economy is likely to contribute most of the positive news, while the main source of volatility should still come from politics.

Download full report

 

BSC - Brazil Macro and Political Overview MA Logo_1.pdf
Adobe Acrobat file - 1.3 mb

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  'intro' => string 'Efic Partners advised STRACON, S.A. on the acquisition of a 60% controlling stake in Dumas Holdings Inc. ("Dumas"). 

Since 1994, Dumas has evolved from a&hellip;' (length=164)
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Stracon S.A.

Efic Partners advised STRACON, S.A. on the acquisition of a 60% controlling stake in Dumas Holdings Inc. ("Dumas").

Since 1994, Dumas has evolved from a…

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  'intro' => string 'Ethica Corporate Finance advised the shareholders of Equilibra S.r.l. on the sale of a 75% stake to Unilever, which entered the key market of ‘natural’&hellip;' (length=163)
  'display_name' => string 'Equilibra' (length=9)
Equilibra

Ethica Corporate Finance advised the shareholders of Equilibra S.r.l. on the sale of a 75% stake to Unilever, which entered the key market of ‘natural’…

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  'intro' => string 'Affentranger Associates initiated the transaction and advised the doctor-owner throughout the entire sale process. Following a short and professionally run process with a limited number&hellip;' (length=193)
  'display_name' => string 'AugenCentrum Zytglogge - Focus' (length=30)
AugenCentrum Zytglogge - Focus

Affentranger Associates initiated the transaction and advised the doctor-owner throughout the entire sale process. Following a short and professionally run process with a limited number…

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  'intro' => string 'Danfoss A/S has acquired the remote control business, currently owned by the company Ikusi. The deal value was not disclosed.
The remote control business will be&hellip;' (length=170)
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Ikusi - Telecontrol - Project Control

Danfoss A/S has acquired the remote control business, currently owned by the company Ikusi. The deal value was not disclosed.
The remote control business will be…

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Sebach

Ethica Corporate Finance advised the PE Funds (LBO France, Yarpa, HAT) owning the majority of the share capital of Ylda Group (an Italian Group including…

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  'intro' => string 'On July 3rd, 2018, Cintac S.A. subsidiary of the Chilean steel group CAP, acquired 70% of the shares of the Calaminon conglomerate for US$ 40&hellip;' (length=149)
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Cintac, S.A.

On July 3rd, 2018, Cintac S.A. subsidiary of the Chilean steel group CAP, acquired 70% of the shares of the Calaminon conglomerate for US$ 40…

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ELDU

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Pharcoterm

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  'intro' => string 'Ethica Corporate Finance advised SOCOTEC Group, a major player in TIC (Testing, Inspection, Certification), on the acquisition of 85% stake in DIMMS Group, the Italian&hellip;' (length=175)
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Socotec

Ethica Corporate Finance advised SOCOTEC Group, a major player in TIC (Testing, Inspection, Certification), on the acquisition of 85% stake in DIMMS Group, the Italian…

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  'intro' => string 'Ethica Corporate Finance advised the shareholders of Natural Point on the sale to Recordati, Italian listed company active in the pharma sector.' (length=144)
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Natural Point

Ethica Corporate Finance advised the shareholders of Natural Point on the sale to Recordati, Italian listed company active in the pharma sector.

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  'intro' => string 'Ethica Corporate Finance advised the shareholders of Finest Shoes Srl – owner of the brands “Atlantic Stars” and “Row” (another Italian brand of classy, premium&hellip;' (length=178)
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Atlantic Stars

Ethica Corporate Finance advised the shareholders of Finest Shoes Srl – owner of the brands “Atlantic Stars” and “Row” (another Italian brand of classy, premium…

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  'intro' => string 'CORPFIN (Spanish Private Equity), through a buy and build process, has acquired a majority stake (51%) in BARNA Group. In addition to this transaction, BARNA&hellip;' (length=165)
  'display_name' => string 'BARNA - Norte' (length=13)
BARNA - Norte

CORPFIN (Spanish Private Equity), through a buy and build process, has acquired a majority stake (51%) in BARNA Group. In addition to this transaction, BARNA…

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  'intro' => string 'Ethica Corporate Finance advised the family owning Gruppo Marconi in selling its core business – including the related real estate assets – to French listed&hellip;' (length=168)
  'display_name' => string 'Gruppo Marconi' (length=14)
Gruppo Marconi

Ethica Corporate Finance advised the family owning Gruppo Marconi in selling its core business – including the related real estate assets – to French listed…

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  'intro' => string 'Advised the shareholders of Independent Transition Management Limited (ITM) on the sale of the company to a highly experienced management buy-out team, as backed by&hellip;' (length=172)
  'display_name' => string 'Independent Transition Management Limited (ITM)' (length=47)
Independent Transition Management Limited (ITM)

Advised the shareholders of Independent Transition Management Limited (ITM) on the sale of the company to a highly experienced management buy-out team, as backed by…

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  'intro' => string 'Ethica Corporate Finance has been advisor to the shareholders and to the management of Nadella on its sale to ICG, a top-flight international investor acting&hellip;' (length=165)
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Nadella

Ethica Corporate Finance has been advisor to the shareholders and to the management of Nadella on its sale to ICG, a top-flight international investor acting…

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