ANNOUNCEMENT 04 Nov 2014In November 2014, the government of Brazil announced a change in private-sector financial support.
NUMBER OF INTERVENTIONS
BNDES press release of 4 November 2014 (in Portuguese): http://www.bndes.gov.br/SiteBNDES/bndes/bndes_pt/Institucional/Sala_de_Imprensa/Noticias/2014/Todas/20141104_zenvia.html#
On 4 November 2014, the Brazilian Development Bank (BNDES) announced to finance Zenvia with 35.5 million real (USD 11.83 million) by subscribing to shares. The mobile services provider based in Porto Alegre (Rio Grande do Sul) is going to be funded by BNDESPAR, the equity branch of BNDES.
The GTA includes state guarantees and other financial incentives that are likely to affect the restructuring and performance of firms facing international competition, whether from imports, in export markets, and from foreign subsidiaries.