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Açominas of Brazil in US$185-million public offering
Açominas of Brazil in US$185-million public offering

Açominas of Brazil in US$185-million public offering

21 December 2001

Agropecuária Senhor do Bonfim Ltda, a wholly-owned subsidiary of Banco Econômico SA - Em Liquidação Extrajudicial, has sold 17.67 per cent of the total capital stock of Aço Minas Gerais SA - Açominas. The stock, which was sold through a public offering, represents 17.67 per cent of the voting stock and 9.79 per cent of the preferred capital stock of Açominas. Gerdau Participações SA, one of the largest steel mills in Latin America, which already held an important stake in Açominas, bought the stake for R$426,550,000, approximately US$185,860,566.

Masisa buys board-making plant in Durango, Mexico
Masisa buys board-making plant in Durango, Mexico

Masisa buys board-making plant in Durango, Mexico

21 December 2001

The Chilean law firm Cariola, Diez, Pérez-Cotapos & Cía Ltda and Basham, Ringe y Correa SC of Mexico have advised Masisa, a Chilean wood board producer with plants in Chile, Argentina and Brazil, in connection with the purchase of a particleboard plant located in Durango, Mexico. The US$15-million purchase was closed on December 11.

Sociedad Concesionaria Rutas del Pacífico SA renegotiates loan
Sociedad Concesionaria Rutas del Pacífico SA renegotiates loan

Sociedad Concesionaria Rutas del Pacífico SA renegotiates loan

21 December 2001

Morales, Noguera, Valdivieso & Besa has advised Sociedad Concesionaria Rutas del Pacífico SA (RDP) in the amendment of a UF-denominated bridge loan agreement entered into by RDP and Banco Santander Chile and Santander Investment Chile Ltda. The agreement includes the negotiation of an additional US$75 million project financing for the construction of the Santiago-Valparaiso-Viña del Mar toll road, a 140-kilometer highway concession linking the major cities in Chile’s most populated area. The transaction was closed on December 14.

Deutsche Securities and Hipotecaria Nacional in Mexican bond issue
Deutsche Securities and Hipotecaria Nacional in Mexican bond issue

Deutsche Securities and Hipotecaria Nacional in Mexican bond issue

21 December 2001

Deutsche Securities, SA de CV and Hipotecaria Nacional, SA de CV have issued MX$750 million in local bonds (certificados bursátiles) in a transaction concluded on December 13. The transaction involves the securitisation of bridge loans granted by Hipotecaria Nacional to Mexican low-income housing developers.

Danish company Novo Nordisk AS in buyout agreement with Biopart
Danish company Novo Nordisk AS in buyout agreement with Biopart

Danish company Novo Nordisk AS in buyout agreement with Biopart

21 December 2001

Through its current controlling shareholder company Biopart Ltda, Novo Nordisk AS is to acquire control of the Brazilian pharmaceutical company Biobrás, which specialises in insulin production. Denmark’s Novo Nordisk is acting through its subsidiary NN Holding do Brasil Ltda. The agreement was executed on December 12.

US$100-million loan for PSEG's Peruvian subsidiary
US$100-million loan for PSEG's Peruvian subsidiary

US$100-million loan for PSEG's Peruvian subsidiary

21 December 2001

Elegia and its subsidiary Electroandes have taken out a US$100-million loan from a syndicate of banks comprising Banco de Crédito del Perú (BCP), who acted as the agent, Banco Continental, BankBoston, NA and Banco Wiese Sudameris. Elegia is a 100 per cent Peruvian subsidiary of PSEG, which recently acquired 99.67444 per cent of Electroandes. The transaction was concluded on December 12.

Fels Setal in US$90 contract with Delba Marítima
Fels Setal in US$90 contract with Delba Marítima

Fels Setal in US$90 contract with Delba Marítima

21 December 2001

Brazilian offshore and marine service shipyard Fels Setal SA has executed an agreement worth US$90 million with Delba Marítima Navegação SA for the building of three oil platform support service vessels. Fels Setal, which is controlled by Keppels Group, plans to build the ships in the Verolme Shipyard at Angra dos Reis, in the state of Rio de Janeiro, Brazil. The agreement was finalised on December 10.

IBM to service Telefónica
IBM to service Telefónica

IBM to service Telefónica

21 December 2001

Telefónica Chile has signed a US$87.3-million outsourcing agreement with IBM Chile. IBM will provide Telefónica with operational assistance and undertake maintenance of its equipment for the next five years. A similar agreement was signed between Telefónica Argentina and IBM earlier in the year.

Tozzini incorporates law firm in Brazil's northeast
Tozzini incorporates law firm in Brazil's northeast

Tozzini incorporates law firm in Brazil's northeast

21 December 2001

Tozzini, Freire, Teixeira e Silva Advogados, one of the largest law firms in Latin America, has merged with the Ceará-based firm Mota e Advogados Associados SC - Fórum Advocacia Empresarial, which has offices in the cities of Fortaleza, Recife, Natal and João Pessoa in northeastern Brazil. The merged firm will operate under the name Tozzini, Freire, Teixeira e Silva Advogados.

Competition in the cellular and long-distance telephony markets
Competition in the cellular and long-distance telephony markets

Competition in the cellular and long-distance telephony markets

21 December 2001

The Uruguayan Government has approved Decree No. 442/001 of November 13 establishing an interconnection regime governing international and cellular telephony operators.