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Article: Brazil: BNDES claims on guarantees from Brasil Ferrovias.
- Article from:
- South American Business Information
- Article date:
- October 21, 2004
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Brazil, Oct 21, 2004 (Gazeta Mercantil/SABI via COMTEX)
The national development bank BNDES (Banco Nacional de Desenvolvimento Economico e Social) is claiming on guarantees for the disbursement of R$600mil resources to the Brazilian railroad concessionaire Brasil Ferrovias. The company will have to install two auditing and financial committees and to follow orders from the management consultancy company Angra Partner. With a debt of R$1.6bil, Brasil Ferrovias will face a due diligence process. BNDES' project is supported by the majority shareholder in the company, the pension fund Previ from the employees of the Brazilian state-owned bank Banco do Brasil. Previ, ...