Today we are going to talk about Banco Inter (BIDI11)’s entry into the US and Minerva’s expansion plans for the goat market (BEEF3).
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Interbank buys Fintech in the US
On Friday (27), Bango Inter announced its acquisition of North American USENTI. Headquartered in Manhattan Beach, a suburb of Los Angeles, the company has been operating in the forex and financial services market for 16 years and is licensed to operate as a money changer in more than 40 North American states. Digital certification, credit card debit, bill payment, etc. With over 150,000 customers, it has access to gift cards and cell phones.
Following the acquisition, Inter plans to launch financial operations in the United States, expanding its offer of financial and non-financial products to US residents and Brazilian customers.
The acquisition is a boon for Banco Inter, which enters the U.S. market at a time when it has 13 million customers, a PRL 13.3 billion debt package, shareholders PRL 8.8 billion and PRL 30 billion in assets. Inter activities (BIDI11The session rose after the acquisition announcement, closing Friday’s (27) trading session with a high of 7.06% at R $ 71.86.
The termination of the transaction is subject to verification of certain preconditions such as the finalization of the respective firm instruments and obtaining regulatory approvals in Brazil and the United States. The transaction amount has not been released.
Minerva enters the sheep market
A Minerva Foods (BEEF3), The largest beef exporter in Latin America, announced the purchase of two bakeries for lamb in Australia (Shark Lake and Great Eastern Appetizer), through a mixed control company with Saudi Salik, established in February for investment purposes.
The total investment of the joint venture in this project will be US $ 35 million, with Minerva contributing approximately $ 20 million to the acquisition of assets, the investment in the assassination and processing plants and the working capital. Minerva will hold 65% stake and Salik (Minerva’s parent company with 33.7% share capital) will hold the remaining 35%.
Australia is the world’s largest exporter of sheep / mutton, with about 67 million heads. Minerva already has a lamb protein trading activity in the country and Salik already has a farm dedicated to food security, ensuring the distribution of flocks during property growth and maturation. Thus, the acquisition will complete the sheep production chain in the region.
Currently, JPS is the absolute leader in lamb protein in the country, with about 6 million heads being slaughtered annually. Minerva, by fully maturing plants after investments, can reach 1 million heads per year in assassination capacity, earning about $ 1 billion.
The lamb division seems to be more relevant to Minerva, which already aims to extend its export operations, including focusing on Australia. The completeness of the operations already conducted in the country with Salik makes sense and the acquisition becomes strategic with the geographical diversification and expansion of the interactive market.
Although the potential results are small compared to Minerva’s total results, we see the movement positively, generating approximately $ 24 billion in revenue per year
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