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Financial Information Unit up and running
Financial Information Unit up and running

Financial Information Unit up and running

30 November 2001

After considerable delay, the Government has finally launched the Financial Information Unit (FIU), which will be responsible for collecting information from financial institutions and on money-laundering operations, which will then be passed on to the judicial authorities for action.

CANTV counters US$1.37-bilion takeover bid with share buyback programme
CANTV counters US$1.37-bilion takeover bid with share buyback programme

CANTV counters US$1.37-bilion takeover bid with share buyback programme

23 November 2001

Compañía Anónima Nacional Teléfonos de Venezuela (CANTV) has successfully defeated the US$1.37-billion unsolicited tender offer by the AES Corporation aimed at acquiring a controlling interest in the Venezuelan telephone company.

Irish buyer for Sursoft's software assets
Irish buyer for Sursoft's software assets

Irish buyer for Sursoft's software assets

23 November 2001

The Irish software manufacturer Trintech has purchased the sole production, distribution and marketing rights to a software package developed by the Uruguayan company Sursoft. The software is used to ensure the safety of credit card transactions over the net. The deal, worth over US$5 million, is expected to close this month.

VCP acquires interest in Aracruz Celulose
VCP acquires interest in Aracruz Celulose

VCP acquires interest in Aracruz Celulose

23 November 2001

Votorantim Celulose e Papel SA (VCP), acting through one of its affiliates, has acquired from Mondi Brazil Ltd 28 per cent of the voting interest of Aracruz Celulose SA for a consideration of US$370 million.

Grupo Santander sells two insurance companies to MetLife
Grupo Santander sells two insurance companies to MetLife

Grupo Santander sells two insurance companies to MetLife

23 November 2001

Grupo Santander has sold the Chilean life insurance companies Compañía de Seguros de Vida Santander SA and Compañía de Reaseguros de Vida Soince-Re SA to Metropolitan Life. The transaction, valued at around US$250 million, closed on November 19.

Telefónica del Perú registers second bond programme
Telefónica del Perú registers second bond programme

Telefónica del Perú registers second bond programme

23 November 2001

The US$150-million second bond programme of Telefónica del Perú has been successfully registered before the Comisión Nacional Supervisora de Empresas y Valores - CONASEV.

Mercantil buys majority stock of Holbrook subsidiary
Mercantil buys majority stock of Holbrook subsidiary

Mercantil buys majority stock of Holbrook subsidiary

23 November 2001

Mercantil Servicios Financieros has agreed to buy the majority stock of Compañía Anónima Seguros Orinoco from Holbrook Investment Corporation.

US$50-million programme for Brazilian rubber producer
US$50-million programme for Brazilian rubber producer

US$50-million programme for Brazilian rubber producer

23 November 2001

Unibanco - União de Bancos Brasileiros SA - and its affiliates have arranged a US$50-million export prepayment programme for Petroflex Indústria e Comércio SA. A producer of synthetic rubber products with annual turnover of R$800 million, Petroflex’s largest customers include Pirelli, Goodyear and Brigdestone. This is the company’s second export prepayment financing in the international market since 1999.

US$44 million finance facility for San Miguel
US$44 million finance facility for San Miguel

US$44 million finance facility for San Miguel

23 November 2001

The Argentine export company SA San Miguel has secured a US$44 million pre-export finance facility. Citibank NA, International Banking Facility, Dresdner Lateinamerika AG and Rabobank International, New York branch, acted as arrangers. The financing is secured through a first priority mortgage on certain land properties of the borrower.

Kraft Foods sells Brazilian subsidiary
Kraft Foods sells Brazilian subsidiary

Kraft Foods sells Brazilian subsidiary

23 November 2001

Kraft Foods has sold its Pilar pasta and biscuit business in Brazil to two privately-held local companies. The sale includes a manufacturing facility located in Recife, Brazil. Pilar recorded sales of US$17 million last year. The deal was closed on October 31.