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/PRNewswire/ CAIXA ECONÔMICA FEDERAL ("CAIXA"), the largest Brazilian bank in terms of number of clients, loans, digital accounts and savings accounts. ....
CAIXA Cartões Announces New Company For The Prepaid Segment News provided by Share this article BRASÍLIA, Brazil, May 11, 2021 /PRNewswire/ CAIXA Cartões Holding S.A., a wholly owned subsidiary of Caixa Econômica Federal ( CAIXA or Bank ) for the electronic payment business, today announced that it has entered into an agreement to create a new company: CAIXA Cartões Pré-Pagos S.A. ( CAIXA Cartões Pré-Pagos ). The companies VR Benefícios and FLEETCOR ( VR-FLEETCOR ) were selected in a competitive process to operate prepaid businesses solutions. The new company will exclusively offer prepaid cards at CAIXA s distribution network with the use of the Bank s brand for the next 20 years. Therefore, at the transaction closing, VR-FLEETCOR will subscribe a capital increase in CAIXA Cartões Pré-Pagos of R$420 million of which R$400 million will be transferred to CAIXA, under the terms of the grant (upfront). ....
FinanceAnalysis: Bolsonaro s interventionism could be mixed blessing for state insurance IPO Carolina Mandl 5 minutes read Brazil s President Jair Bolsonaro looks on during a ceremony at the Sao Sebastiao neighbourhood in Brasilia, Brazil April 5, 2021. REUTERS/Adriano Machado The first IPO by a Brazilian state-controlled company under President Jair Bolsonaro s government has emerged as a test of whether his penchant for intervening in the running of state-run firms will dampen investor interest in the Brazilian market. The government has already slashed by a third the valuation of Caixa Seguridade, the insurance unit of state bank Caixa Economica Federal, ahead of its planned roughly $1 billion IPO. It will be the government s third such attempt to list the business, after pandemic-related delays. ....
Effects of Bolsonaro’s Intervention in Brazil’s State Insurance Firm IPO: Analysis SAO PAULO – The first IPO by a Brazilian state-controlled company under President Jair Bolsonaro’s government has emerged as a test of whether his penchant for intervening in the running of state-run firms will dampen investor interest in the Brazilian market. The government has already slashed by a third the valuation of Caixa Seguridade, the insurance unit of state bank Caixa Economica Federal, ahead of its planned roughly $1 billion IPO. It will be the government’s third such attempt to list the business, after pandemic-related delays. The IPO comes roughly two months after Bolsonaro ousted the chief executives of state lender Banco do Brasil and oil company Petrobras in separate tussles over a cost-cutting plan and oil prices. Many foreign investors dumped their shares in the days after Bolsonaro seemed to prioritize politics over shareholder returns. ....
Brazil's IPOs lose steam amid virus surge, political turmoil reuters.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from reuters.com Daily Mail and Mail on Sunday newspapers.