trending Market Intelligence /marketintelligence/en/news-insights/trending/z8DqwsPUAcR5ZSCavM2gdw2 content
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

Thank you for your interest in S&P Global Market Intelligence! We noticed you've identified yourself as a student. Through existing partnerships with academic institutions around the globe, it's likely you already have access to our resources. Please contact your professors, library, or administrative staff to receive your student login.

At this time we are unable to offer free trials or product demonstrations directly to students. If you discover that our solutions are not available to you, we encourage you to advocate at your university for a best-in-class learning experience that will help you long after you've completed your degree. We apologize for any inconvenience this may cause.

In This List

Report: Caixa's sale of Petrobras stake could generate more than 1B reais profit

StreetTalk – Episode 70: Banks' Liquidity Conundrum Could Fuel M&A Activity

Street Talk Episode 70 - Banks' Liquidity Conundrum Could Fuel M&A Activity

StreetTalk – Episode 69: Banks left with pockets full of cash and few places to go

Street Talk – Episode 69: Banks left with pockets full of cash and few places to go


Report: Caixa's sale of Petrobras stake could generate more than 1B reais profit

Caixa Econômica Federal could generate a profit of more than 1 billion Brazilian reais through the sale of its stake in state-run oil company Petróleo Brasileiro SA - Petrobras, Valor Econômico reported.

The bank plans to conduct the sale in early May, according to the report.

Reuters reported earlier that proceeds from the sale of Caixa's 2.3% Petrobras stake, which is valued at roughly 9 billion reais, will be used to pay off 40 billion reais in convertible bonds sold to Brazil's government.

Caixa is in the process of divesting its stakes in several companies as part of a government initiative to eliminate cross-shareholdings of state-run entities. The bank plans to launch IPOs for four of its subsidiaries, including its insurance unit, over the next 18 months. The company hopes to garner 15 billion reais from the offerings.

Caixa CEO Pedro Guimaraes recently said the bank is reaching out to investors in an attempt to sell off distressed real estate assets, consisting mostly of defaulted mortgages. The bank divested its entire 8.864% stake in reinsurer IRB-Brasil Resseguros SA earlier in March.

As of March 21, US$1 was equivalent to 3.83 Brazilian reais.