Brazilian major biofuel company Atvos announced the transfer of USD 1.3 billion of its debt, thus allowing it to leave judicial recovery and pave the way for the investments of Arab fund Mubadala.
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With the presence of the Brazilian and Emirati presidents, the governor of Brazil’s state of Bahia signed a Memorandum of Understanding with a Mubadala executive for investment in green diesel and jet fuel production.
The Abu Dhabi sovereign fund will invest BRL 500 million (about USD 97.82 million) in the Brazilian company in exchange for a 31.5% stake. The FIP Agroenergia holding fund will be in charge of preparations.
The investment company from the United Arab Emirates bid to acquire control of Zamp, which owns recognized restaurant chains in Brazil.
Mubadala Capital acquired two medical schools in the state of Bahia, it said in a statement.
The Emirati fund now controls MetrôRio. The company from Rio de Janeiro was owned by the Invepar group, the majority shareholder of GRU Airport.
In the ABCC forum, the special secretary for Foreign Trade and International Affairs of the Ministry of Economy, Roberto Fendt, talked about the negotiations with Lebanon, Tunisia, and Morocco. According to him, the double taxation treaty with the UAE has just been approved.
Production is designed to cater to demand in the United Arab Emirates for N95 masks, as part of the personal protective equipment supply chain.
At the end of his mission to the UAE, Doria announced the investment from UAE funds to São Paulo-based companies expected for the next 18 months that resulted from the trip. Viação Itapemirim closed an investment of USD 500 million.
