Companies

Main Event

Brazil becomes the battleground as Spain’s Telefónica and Mexico’s Telmex fight for Latin America.

Careers

On the Cheap

Black-market labor continues to plague Latin America.

Travel

Now Boarding

The low-cost airline craze lands in Bolivia.

Logistics

Pumped Up

Ethanol, from field to tank, via Brazil.

BBVA, a multinational Spanish banking group, announced the sale of 5.01% of Bradesco, a Brazilian financial institution, in a transaction valued at US$1.48 billion. The stake was sold to Cidade de Deus Companhia Comercial de Participações and Fundação Bradesco, who own the remaining controlling interest in Bradesco. The two banks have had a partnership since January 2003. BBVA also informed that it will not leave Brazil, but will establish a platform to develop its global business-oriented activities, such as services for corporate clients in Europe, the United States, Latin America and Asia.

The World Bank, a multilateral lending institution, approved a US$300 million loan in support of the Instituto Colombiano de Crédito Educativo y Estudios Técnicos, official creditor of student loans. The resources will be used to finance access to university education for low-income families. The Colombian program estimates 100,000 students to receive these types of loans, among others.

Companhia Energética do Ceará, an Endesa Brasil group company, which is a subsidiary of the Spanish company Endesa, received financing in the amount of US$221.6 million from BNDES, Brazil’s state-owned development bank. The resources will be appropriated until 2009 for the expansion, modernization and improvements of the Ceará’s state electrical system.

Embraer, a Brazilian aircraft manufacturer, signed a firm order with Finnair, a Finnish airline company, to deliver three of its 190-model jets. The aircraft have a capacity for 100 passengers in two cabins. The total value for the contract is US$112.5 million and 2010 is the expected delivery date of the first plane.

Anhanguera Educacional Participações, a Brazilian university management company, announced the acquisition of Educar, which owns various universities in the Brazilian state of Santa Catarina. The value of the sale was US$18.75 million, besides the debt payments and obligations of Educar. With the acquisition, Anhanguera increases its education centers to six units in southern Brazil.

The Inter-American Development Bank, a multilateral lending institution, approved a US$10 million loan to support a regional plan for Colombian highways. The program will help the Transportation Ministry to develop, among others, technical instruments and support in project management of roads and highways in the country.

Americatel, a U.S.-based telecommunications carrier, announced it would open a Spanish-speaking call center in Guatemala, the first of its kind. The company's investment in the center is projected to be US$4 million and will provide technical support, telemarketing and sales services to small and medium businesses in Central America. The call center will begin operations with 160 employees at the facility.

BBVA Bancomer, Mexican branch of the Spanish BBVA, launched its first BRIC fund in Mexico, which will invest in the equity markets of Brazil, Russia, India and China. With this fund, BBVA Bancomer will increase its portfolio to seven investment funds in international markets.

FTI Consulting, a global business advisory firm, announced that it has acquired TSC Brasil Limitada (TSC), Brazil’s leading systems integrator, computer forensics and IT security consultant. TSC’s clients include a number of the region’s leading companies, as well as multinationals doing business in Brazil and South America. Terms were not disclosed.

Bombadier, a Canadian aircraft manufacturer, opened a plant in the Mexican state of Querétaro. The facility will produce electrical and structural parts for airplanes. Investment terms were not disclosed.