Latest news with #LucianaMagalhaes
Yahoo
4 days ago
- Business
- Yahoo
Gol exits Chapter 11 with plans to add new routes and expand fleet
By Luciana Magalhaes SAO PAULO (Reuters) -Brazilian airline Gol formally exited its bankruptcy proceedings in the United States on Friday, setting the stage for fleet expansion and new flights and routes within Brazil and other countries, Chief Executive Officer Celso Ferrer told Reuters. In 2024, Gol became the second Brazilian airline, after Latam in 2020, to seek Chapter 11 bankruptcy protection in the United States as the sector grappled with debt burdens, a steep decline in passenger numbers during the COVID-19 pandemic, and aircraft delivery delays. Azul, a Gol competitor, filed for Chapter 11 last month. Despite Azul's financial struggles, talks over a potential partnership between the carrier and Gol are ongoing, Ferrer said. But a final deal "will only happen if it adds value and results, whether through routes or growth. If it's better for everyone," he added. Discussions regarding the business combination, which were formalized with a memorandum of understanding last January, are being managed by Abra Group, the majority investor in both Gol and Colombia's Avianca.
Yahoo
28-05-2025
- Business
- Yahoo
IG4 Capital in talks to invest in Brazil's Rio Alto Energias, say sources
By Luciana Magalhaes and Leticia Fucuchima SAO PAULO (Reuters) -A new fund managed by private equity firm IG4 Capital is in advanced talks with creditors of Brazilian renewable power company Rio Alto Energias Renovaveis to restructure and invest in its operations, two people familiar with the deal said. Rio Alto, which builds and runs solar energy projects, has a portfolio of more than 1.8 GW in assets operating or under development, but has been struggling to avoid bankruptcy court. In February, the company requested a legal order temporarily halting creditor actions, as it seeks to restructure its debt. Rio Alto and IG4 declined to comment on the matter. One person familiar with the talks said that if the deal is completed, it will represent the first investment from IG4's Fund III, which has already raised some $200 million in capital. The deal would involve restructuring about 1.5 billion reais ($260 million) of debt and injecting some 300 million reais of fresh capital, the person said. IG4 is not the only potential buyer for Rio Alto, but it is well-positioned to move ahead with the deal, according to another person with knowledge of the transaction. The firm was co-founded by Paulo Mattos, a former GP Investments executive, who was also a director at Brazilian development bank BNDES. ($1 = 5.69 Brazilian reais) Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
26-05-2025
- Automotive
- Yahoo
Scania readies 2 billion euro China hub, eyeing Asian growth
By Luciana Magalhaes SAO PAULO (Reuters) - Swedish truck brand Scania will launch its 2 billion-euro ($2.28 billion) Chinese production hub in October, its third global manufacturing base alongside facilities in Sweden and Brazil, Chief Executive Christian Levin said in an interview. The new Chinese factory will eventually reach a production capacity of 50,000 vehicles — nearly double what Scania's Brazilian plant produced last year — while boosting demand for parts made in South America, said Levin, who also runs group Traton, whose portfolio includes the brands Scania, MAN, International, and Volkswagen Truck & Bus. Scania is also kicking off a new four-year investment cycle in Brazil, which became its second hub after Sweden in the late 1950s, with 2 billion reais ($350 million) of capital spending at its local hub, based in Sao Paulo state, by 2028. Part of the investment is going to initiatives concerning clean transportation, including electrification With its main production hubs in Europe and South America, offering the same products in different geographies, Scania has been able to expand its presence in several parts of the world. "It has made us very strong in Latin America and Europe, but we are quite weak in Asia," Levin said. "If a customer in Asia wants to buy a Scania, they have to get it from Europe or Brazil, which means a wait of maybe six or seven months." Setting up in the Chinese market also gives Scania access to the next generation of transportation technology in China. "So we want to tap into that," he said. "We want to be part of the ecosystem, we want to be close to the competition." Scania's big bet on China comes amid rising trade tensions with the United States, which Levin called "detrimental to the world overall." "It goes away from the world order and from free trade as a fundamental mechanism to make the world richer and a better place to live in," he said. By contrast, Levin was optimistic about the prospects for regional trade bloc Mercosur, comprised of Brazil, Argentina, Paraguay and Uruguay, which is looking to ratify a new trade agreement with the European Union, finalized in December talks. "Now if Mercosur is really coming back, it will make us even stronger." Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Time of India
17-05-2025
- Business
- Time of India
Brazil's Patria launches data center platform with initial investment of $1 billion
By Luciana Magalhaes SAO PAULO: Brazilian investment firm Patria Investimentos on Friday announced the launch of Omnia, a hyperscale data center platform that will invest about $1 billion in its first project in the next 18 to 24 months, as cloud computing and artificial intelligence adoption accelerates in Latin America. The region, particularly Brazil , is emerging as a hub for data center investors, drawn by its abundance of renewable energy and relatively unconstrained growth prospects, standing in contrast to the more saturated markets in the U.S. and Europe. According to Felipe Pinto, Patria 's partner responsible for infrastructure investments in the region, global demand for data centers is expected to more than double by 2030, with capacity in Latin America potentially more than tripling in the next few years, requiring up to $50 billion in new funding. Patria's investment in Omnia will be channeled through one of its infrastructure funds and will focus mainly on artificial intelligence, with the firm seeking to meet the needs of major global technology players. According to Rodrigo Abreu, Patria's operating partner of digital infrastructure and Omnia's CEO, the "focus is on developing large-scale projects that cater to the world's top technology firms - a group of 10 to 15 global companies." Patria had previously created Odata, a data center firm that was acquired by U.S.-based Aligned Data Centers in 2023. Omnia will focus on Brazil, Mexico and Chile, utilizing exclusively renewable energy sources. The first campus is slated for construction in Brazil, with work expected to start in the second half of the year. The exact location of the project, however, has not been disclosed yet. According to Abreu, Brazil offers good locations in metropolitan areas and, along with the rest of Latin America, boasts a relatively favorable regulatory environment and geopolitical neutrality, making it an attractive spot for such investments.
Yahoo
16-05-2025
- Business
- Yahoo
Brazil's Patria launches data center platform with initial investment of $1 billion
By Luciana Magalhaes SAO PAULO (Reuters) -Brazilian investment firm Patria Investimentos on Friday announced the launch of Omnia, a hyperscale data center platform that will invest about $1 billion in its first project in the next 18 to 24 months, as cloud computing and artificial intelligence adoption accelerates in Latin America. The region, particularly Brazil, is emerging as a hub for data center investors, drawn by its abundance of renewable energy and relatively unconstrained growth prospects, standing in contrast to the more saturated markets in the U.S. and Europe. According to Felipe Pinto, Patria's partner responsible for infrastructure investments in the region, global demand for data centers is expected to more than double by 2030, with capacity in Latin America potentially more than tripling in the next few years, requiring up to $50 billion in new funding. Patria's investment in Omnia will be channeled through one of its infrastructure funds and will focus mainly on artificial intelligence, with the firm seeking to meet the needs of major global technology players. According to Rodrigo Abreu, Patria's operating partner of digital infrastructure and Omnia's CEO, the "focus is on developing large-scale projects that cater to the world's top technology firms - a group of 10 to 15 global companies." Patria had previously created Odata, a data center firm that was acquired by U.S.-based Aligned Data Centers in 2023. Omnia will focus on Brazil, Mexico and Chile, utilizing exclusively renewable energy sources. The first campus is slated for construction in Brazil, with work expected to start in the second half of the year. The exact location of the project, however, has not been disclosed yet. According to Abreu, Brazil offers good locations in metropolitan areas and, along with the rest of Latin America, boasts a relatively favorable regulatory environment and geopolitical neutrality, making it an attractive spot for such investments. Sign in to access your portfolio
