It has been a questionable start to the year’s equity transactions in Brazil. Two companies are marketing deals – Seabras Serviços de Petróleo and Brasil Travel – and bankers are hoping they fare well to give some much needed momentum to a market that languished in 2011.
Travel not recommended
Brasil Travel is scheduled to close first – on February 8 – but is thought of as the weaker deal. “The feedback is not great on Brasil Travel,” says one ECM banker, who is not involved in marketing either deal.
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