Topic

Mergers & acquisitions (M&A)

Acquisitions, mergers, tender offers, asset sales and significant stake changes: a radar of Brazilian corporate deals.

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Official filingCapital Markets & M&AStocksM&A

BlackRock reaches 10.075% stake in B3 through shares and ADRs

The asset manager acquired stock in B3, Brazil's securities exchange operator, accumulating 508,448,714 common shares, or 10.075% of the total equity, alongside 10,532,255 share-referenced derivative instruments, according to a filing released on October 7, 2026.

  • On October 5, 2026, BlackRock raised its aggregate stake in B3 to 508,448,714 common shares, equivalent to 10.075% of total common stock issued by the exchange operator.
  • The position includes 504,009,710 common shares and 1,479,668 ADRs representing 4,439,004 common shares, plus 10,532,255 cash-settled derivatives (0.209% of common stock).
  • BlackRock stated to the CVM, Brazil's securities regulator, that the acquisition is purely for investment, with no agreement altering corporate control or voting rights.

Sources:CVM - Documentos IPE (PDF)

Bens IndustriaisStocksM&A

American Airlines secures conditional approval to buy stake in Azul

CADE, Brazil's antitrust authority, cleared the airline to invest $100 million for an 8% equity stake under Azul's Chapter 11 bankruptcy restructuring in the United States, subject to full compliance with a merger control agreement.

  • The $100 million injection remains contingent on executing and fulfilling the antitrust authority's accord terms.

Sources:Money TimesAgência iNFRA (infraestrutura)O Globo (Economia)Poder360Valor Econômico

Capital Markets & M&AStocksM&A

Paramount Skydance completes merger to form combined entertainment giant

Chief Executive David Ellison assumed control of the newly formed Skydance following the closure of a $110 billion acquisition of Warner Bros Discovery, uniting major film studios, streaming platforms, and broadcast networks under the NYSE ticker SKYD.

  • Settlements with a coalition of U.S. states and a Hollywood writers union cleared the final regulatory and legal obstacles.
  • The combined business brings together film franchises including Mission Impossible, Harry Potter, and DC Studios alongside HBO Max and CNN.

Sources:InfoMoneyO Globo (Economia)InvestNews

Capital Markets & M&AStocksM&A

Carrefour Sells 21 Stores to Grupo Pereira in Retail Expansion

Brazil's antitrust authority, CADE, cleared SDB Comércio de Alimentos to purchase 21 retail stores from Carrefour, enabling Grupo Pereira to expand its supermarket, pharmacy, and gas station footprint in São Paulo and the Federal District. The transaction remains subject to a 15-day administrative waiting period during which competitors or CADE commissioners may appeal the decision. Technical analysis determined that horizontal market overlap remains under the 20% threshold, while vertical integration stays within the 30% limit for market foreclosure risks.

  • Grupo Pereira operates the retail network through its subsidiary SDB, which manages the Fort Atacadista cash-and-carry and Comper supermarket brands.
  • Carrefour presented the sale as an opportunity to optimize its Brazilian retail operations and asset allocation.

Sources:Valor Econômico

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