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Vale’s iron ore (Credit: Agência Vale)
SÃO PAULO – The corporate news starts the Christmas week less busy, despite important news, mainly about large companies on the stock market, such as Vale and Petrobras.
The mining company had its commercial license and that of its subcontracted companies suspended, by Decree No. 210, of December 18, 2020, of the Brumadinho municipality, in Minas Gerais.
Meanwhile, the state oil company starts the week attentive to the price of oil, which falls more than 5% abroad amid a new strain of coronavirus that has spread rapidly and caused the closure of much of the United Kingdom.
The Ser Educacional group concluded the purchase of an educational center in Bahia for R $ 210 million.
Check out the highlights:
The operating license of Vale and its subcontracted companies was suspended, by Decree No. 210, of December 18, 2020, of the Brumadinho City Council, in Minas Gerais, published in the Official Gazette of the Municipality this Friday (18). .
The act, signed by Mayor Avimar de Melo Barcelos, was due to the death of a worker from the company hired by Vale Verde, who worked at the Córrego do Feijão mine. He was in the cab of an excavator when a slope collapsed on the machine.
In January 2019, the Feijão stream dam, which contained around 12 million cubic meters of ore tailings, broke. The tragedy caused the death of more than 270 people and a trail with kilometers of destruction.
According to the decree, “the operation and location permits of Mineradora Vale SA and its third parties, mainly Vale Verde, are suspended for a period of seven days from the date of publication of this decree, or until the facts are clarified. of the accident that occurred on December 18, 2020 and guaranteed safety conditions for workers working on site ”.
The decision was made after a landslide at a Vale mine near the Brumadinho (MG) disaster site in 2019 buried and killed a worker on Friday, the company said in a statement.
According to Vale, the worker, who was hired by a third company, was on an excavator when he was hit by a landslide on the embankment of the Córrego do Feijão mine.
The mine has the same name as the Córrego do Feijão rural neighborhood, which is part of the Brumadinho municipality and was partially destroyed in January 2019, when a Vale tailings dam exploded, killing 270 people.
Vale said he “deeply regrets” the accident and will support the family of the deceased worker.
“The companies are supporting the authorities in responding to the case and investigating the causes of the accident,” Vale said. “On-site maintenance activities will be suspended for further studies and assessments of safety conditions.”
Businesses are keeping an eye on the oil market, with commodity prices plummeting more than 5% amid a new strain of coronavirus that has spread rapidly and caused much of the UK to shut down, as well as tighter restrictions. in all Europe. , raising fears of a slower recovery in fuel demand.
“The news of a new strain of coronavirus weighed on risk and oil. The new restrictions on mobility in Europe are not helping either, as European demand will suffer, ”said UBS analyst Giovanni Staunovo.
“Investors should be aware that the path to higher demand and higher prices will remain unstable,” he added.
In a relevant event released this Monday, the Cogna Educação holding reported that its board of directors and that of Saber, which is part of the holding company, received the resignation of the chief financial officer, Jamir Saud Marques, who “decided to take on new personal challenges.” He has worked at Cogna since 2015 and will remain in the position until January 4, 2021.
Cogna and Saber also report that their directors elected Frederico da Cunha Villa as a new member of the statutory board. Effective January 4, he will serve as Cogna’s CFO and Saber’s CFO. His last position was that of director of finance and investor relations at BRMalls.
Being educational (SEER3)
The Ser Educacional group completed the acquisition of Iaesb (Instituto Superior de Educación Superior de Barreiras), maintainer of Unifasb (Centro Universitario São Francisco de Barreiras), from Bahia, according to information from Veja magazine. The acquisition was made for R $ 210 million, of which R $ 130 million were paid in cash. The negotiation includes the purchase of the institution’s headquarters building.
For Credit Suisse, although there are many courses, it estimates that more than 60% of the income comes from the medical course. The bank says that it evaluates that the amount paid is in line with similar movements made by other companies.
Bradesco BBI reproduced data from CCR indicating that the concessionaire registered a 1% drop in the week of December 11 in the highways it manages, compared to the same period last year. Compared to the immediately preceding week, the volume remained stable.
Passenger traffic in urban mobility fell 46% compared to the previous year, with an increase of 1.5% compared to the immediately previous week. Traffic in airport concessions decreased by 54% compared to the previous year and increased by 0.8% compared to the immediately previous week.
Bradesco maintains a performance superior to the evaluation, with a target price of R $ 17, compared to the R $ 13.3 registered the previous day.
Qualicorp (QUAL3)
Credit Suisse followed Qualicorp’s annual meeting with its investors. The bank says the company has demonstrated how it is employing automation in interfacing with operators and customers and in processing contracts with beneficiaries. According to the bank, the company is using data analytics to retain customers.
The bank said it believes the company has paved the way for business effectiveness. He says he believes mergers and acquisitions are made possible by the firm’s strong cash position, but may not add as much value as organic growth.
Credit also says there are doubts about the establishment of the “market” for Qualicorp, given its complexity and mediation with operators. The bank maintains a superior performance evaluation (expected earnings above the market average) for Qualicorp, with a target price of R $ 38, compared to the R $ 34.5 registered on December 18, 2020.
Gol Linhas Aéreas Inteligentes reported on Monday that the subsidiary Gols Finance appraised a private placement of senior debt abroad for a principal amount of US $ 200 million (about R $ 1,020 million) with an interest rate of 8% per year. and expiration in 2026.
The debt is guaranteed by Gol Linhas Aéreas and Gol Linhas Aéresas Inteligentes. GOL can settle them in advance after the second anniversary of their issue.
The company claims that the private placement of the notes is the first issue within its new secured debt program. The funds will be used for guarantor working capital, for the payment of existing debts and for corporate purposes in general, says GOL.
The Abiec (Brazilian Association of Meat Exporting Industries) published a forecast that beef exports will reach 2.1 million tons in 2021, or R $ 8.8 billion, compared to 2 million tons, or R $ 8.5 billion in 2020.
The organization expects China to remain among the main buyers of the Brazilian product, especially considering that 26 units must be certified by China in Brazil. Currently, there are 37 units certified by China in Brazil.
Bradesco BBI says the 6% growth forecast does not change the way it views the sector as it is slightly above the expectation of a 5% increase for Brazilian beef exports published in October by the Department. of Agriculture of the United States. United.
Despite this, the bank says it expects protein prices to fall globally after 2021, as China is expected to continue rebuilding its pig herd. The bank maintains a higher evaluation for JBS and BRF, with a target price of R $ 33 for JBS, compared to the R $ 23.67 negotiated on December 18, and a target price of R $ 28 for BRF, compared to R $ 22.07 is trading on the same date.
Light reported that it approved a 30-day exclusivity period for Brasal Energia to negotiate, for R $ 96.4 million, the 51% stake of its subsidiary Light Energia in Guanhães Energia. The company operates the Senhora do Porto, Dores de Guanhães, Fortuna II and Jacaré PCHs.
Taesa communicated in material fact that its majority shareholders, Cemig and ISA Investimentos e Participações do Brasil, signed a modification to the shareholders’ agreement on changes in the statutes on the composition of the company’s board of directors and the change of jurisdiction, approval of the association the company or subsidiaries with other companies.
Andrade Gutierrez
Andrade Gutiérrez tries to guarantee until Tuesday (22) the adherence of investors to the proposal to postpone from four to six months the payment of interest due on December 30, related to securities issued by the company abroad. The company expected to earn R $ 5.2 billion in 2020, but the value should be R $ 3.2 billion, due to the pandemic, which affected works in Brazil and abroad, a reduction in revenues that the leads to seek to prolong payment. interest.
According to the newspaper Valor, to guarantee the agreement, the company needs the adherence of a simple majority of the investors who bought the bond, whose issuance reached US $ 480 million and expires in 2024. Company executives have been in dialogue with investors since Wednesday and stipulated a period of five business days, which ends on Tuesday, for the response.
The proposal calls for an additional 2% payment on interest of $ 22 million that will no longer be paid on December 30. Thus, the cost for the company rises from 9.5% to 11.5%.
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