Overview

This article by Shearman & Sterling reports on how Brazil’s national champions are asserting themselves on the global stage.

Brazil has long been an M&A magnet for foreign buyers looking to pick up assets in the country’s booming agribusiness, commodities and energy sectors. But new data from ANBIMA, the Brazilian association of financial and capital markets firms, suggest that in the first half of 2010 acquisitions abroad by Brazilian companies outweighed purchases of Brazilian businesses.

Of this outbound investment, 77% was aimed at European targets, possibly reflecting the relative strength of the Brazilian real, the weakness of the euro and the array of distressed assets up for sale.

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