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Â£6.8bn investment in Brazil expected by the end of 2011

Date added: 30th June, 2011 at 15:10
(view all articles from June, 2011)

Categories: Economy

Companies are expected to have $11 billion (£6.8 billion) available to invest in Brazil by the end of 2011.

This is according to the Financial Times, which noted that private equity firms are taking advantage of opportunities in the country.

President of Latin American Venture Capital Association Cate Ambrose told the news provider the nation is attractive to foreign speculators because of the similarities it has with more developed economies.

"Brazil is much closer to the European and US business culture of working with financial investors, building up the company and eventually selling it," she said.

Last year, companies invested $8.1 billion into Latin America, the information source noted, following a positive turn in the economy made when former president Luiz Inacio Lula da Silva made changes to corporate governance and the stock market.

This meant that more firms held initial public offerings, which allowed private equity companies to plough their money into the country.

Indeed, real estate developer BR Properties recently sold shares worth 690.3 million reais (£274 million), according to a Reuters report.

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