Brazilian companies appetite for investments abroad is growing again. In February, the Brazilian Central Bank index IBD (Brazilian direct investment) hit US$ 4,2 billions. With this result, Central Bank has already revised its forecasts for the year; now they expects an annual IBD of US$ 15 billions against its previous forecast of US$ 5 billion.
The difficulties faced by companies in developed countries open space for bargains, and Brazilian companies are going shopping. Corroborating this trend is the M&A activity so far in 2010. From the first week of the year, nine deals involving large Brazilian companies were announced or rumored. The conglomerates CSN, Camargo Correa and Votorantim fighting for the Portuguese company Cimpor; Shell and Cosan became partners and Braskem’s acquired Sunoco’s polypropylene business in early February.
And let’s remember that supporting the internationalization of domestic companies is now a priority to the state bank BNDES. The bank recently opened a subsidiary in London to work as its overseas office.
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