BNDES allocated US$ 3.8 billion in two years to strengthen national companies
O Estado de S. Paulo - 05/11/2008
The Social and Economic Development Bank (BNDES) allocated at least R$ 7.7 billion (US$ 3.8 billion) for operations to strengthen and develop stronger national groups in the last two years. The operations took place with the inflow in the capital of companies and funding for companies of several sizes to make acquisitions viable. The sectors were: telecommunications, meat, pharmaceutical, aeronautical, and engineering, among others. The survey was made by the State based on the reporting of operations made by the bank in this period. The operations are usually made according to what the president of the development institution, Luciano Coutinho, himself calls "new paradigm" of nationalism. It is a model in which, according to him, unlike what happened in the past, the production of corporate development is not sought in an artificial way. Development is rather sought in strategic areas, in consistent operations, with return - and without discriminating foreign capital. That is what the bank affirms. The list of such operations includes from the billionaire inflow in the capital of Bertin, which mainly works in agribusiness and other areas, to relatively small Mectron, an aeronautical sector supplier. In 2007 alone the result of the bank's proprietary interest amounted to R$ 5.497 billion (US$ 2.85 billion). From that total, R$ 3.224 billion (US$ 1.67 billion) resulted from the sale of proprietary interest, R$ 1.407 billion (US$ 729 million) from dividends and R$ 981 million (US$ 508.3 million), from equity adjustment. In the pharmaceutical sector, one of the lines of the bank, it clearly foresees the consolidation of national groups. According to the bank, the "Profarma-Reestruturação" line involves "transactions of incorporation, acquisition and merger of companies that result in the creation of company of national control of greater size or vertical control".