The week in five lines
- 01
Copom, the central bank's rate-setting committee, cut Brazil's benchmark Selic rate by 0.25 percentage point to 13.75% per year, marking its fifth consecutive reduction ahead of national elections.
- 02
Petrobras secured R$ 2.57 billion in diesel subsidies to offset a R$ 1 wholesale price increase as Brent crude topped $108 a barrel and fuel price lags reached 32%.
- 03
Receita Federal, Brazil's federal revenue service, scheduled voluntary B2B split payment for 2027 under tax reform, prompting corporate buyers to prepare buyer-collection mechanisms to safeguard tax credits.
- 04
Supreme Federal Court President Edson Fachin assumed the Banco Master probe involving former banker Daniel Vorcaro as BRB removed five executives over R$ 21.9 billion in transactions.
- 05
Antitrust regulator CADE cleared major M&A transactions without restrictions, including Claro's R$ 4 billion acquisition of Desktop and Globe Investimentos' takeover of Avibras.
What happened across the market
Legal & Regulatory
- Receita Federal, Brazil's federal revenue service, set the voluntary B2B split payment tax collection mechanism for 2027.
- STF President Edson Fachin assumed the inquiry into communications between Justice Alexandre de Moraes and former banker Daniel Vorcaro regarding Banco Master.
- The STJ ruled that Selic interest on compulsory reserve deposits held at the central bank is subject to PIS and Cofins taxes.
Capital Markets & M&A
- CADE, the antitrust authority, cleared Claro's R$ 4 billion acquisition of Desktop across 198 municipalities without restrictions.
- Globe Investimentos, owned by Joesley and Wesley Batista, secured CADE approval to acquire defense manufacturer Avibras's controlling entity.
- Alpargatas approved a R$ 300 million non-convertible debenture issue to refinance existing debt obligations.
Petróleo, Gás e Biocombustíveis
- Petrobras received R$ 2.57 billion in diesel economic subsidy payments from the federal government under Provisional Measure 1,358.
- Petrobras signed a 20-year agreement with Sempra to buy 0.8 million tonnes of liquefied natural gas annually from Texas.
- OceanPact and CBO Holding completed their corporate merger, creating an offshore service group with R$ 1.48 billion in share capital.
Financeiro
- Itaú Unibanco issued R$ 5 billion in Tier 2 Subordinated Financial Notes maturing in 2036 and 2037 to boost capital ratios.
- Banco de Brasília suspended five executives following an internal probe into R$ 21.9 billion in credit portfolio purchases from Banco Master.
- Investment advisory firm Apex Partners requested judicial recovery in Espírito Santo to restructure R$ 1 billion in debt liabilities.
Consumo Cíclico
- Morgan Stanley increased its equity stake in pharmacy chain Pague Menos to 5.0% of common shares.
- B3, Brazil's stock exchange, extended Marisa Lojas's deadline to restore its minimum free float requirement to December 2027.
- Combined pet retailers Petz and Cobasi projected consolidated annual revenues of R$ 7.7 billion across 520 stores.
Utilidade Pública
- Cemig elected former legal executive Marco Aurélio Vasconcelos as chief executive officer and named Alexandre Peixoto as board chairman.
- EMAE shareholders approved merging all remaining company shares into Sabesp at an exchange ratio of 1.3195 Sabesp shares per EMAE share.
- Taesa elected former Petrobras and Cemig finance director Andrea Marques de Almeida as chairwoman of its board of directors.
Macro & Fiscal Policy
- Copom, the central bank's rate-setting committee, cut the benchmark Selic rate by 25 basis points to 13.75% per year.
- B3 launched a daily U.S. dollar-denominated version of the Ibovespa index converted using London's WMR benchmark exchange rate.
- Brazilian stock index Ibovespa rose to 186,586 points as crude oil gains supported state-owned Petrobras despite presidential election poll swings.
Agribusiness & Soft Commodities
- Conab, Brazil's national supply company, raised its 2025/26 grain crop projection to a record 361.7 million metric tons.
- BASF hired four investment banks to structure the initial public offering of its Agricultural Solutions division by mid-2027.
- STJ ruled that agribusinesses processing tax-suspended soy into taxable goods like biodiesel can claim a 9.25% PIS/Cofins tax credit.
On the CVM radar this week
A selection of official filings from widely followed companies.
SOLVI ESSENCIS AMBIENTAL S.A. · Fato Relevante
Solví acquires Amplitec and Essencial for R$ 115 million enterprise value
Solví expands waste treatment capacity by up to 1,000 tonnes per day through a Rio das Pedras landfill operation in São Paulo state.
INTERNATIONAL MEAL COMPANY ALIMENTACAO S.A. · Fato Relevante
IMC denies business combination agreements with Da Vinci fund
Company clarifies media reports regarding potential transaction, stating no formal agreement has been executed.
AZEVEDO E TRAVASSOS S.A. · Fato Relevante
Azevedo & Travassos sells Verde Alagoas stake for R$ 21 million
Subsidiary Aviva Liquida sanitation asset in cash at closing, withholding R$ 600 thousand for potential operational contingencies.
IRANI PAPEL E EMBALAGEM S.A. · Fato Relevante
Irani approves 2026-2030 executive long-term incentive program
Board updates 2025 share buyback program to allow treasury shares to be delivered as executive compensation subject to shareholder approval.
CIA PARANAENSE DE ENERGIA - COPEL · Fato Relevante
Copel requests voluntary delisting of ordinary shares from Latibex
Power utility retains Banco Santander to execute delisting from Madrid's Latin American stock market while preserving B3 Novo Mercado listing.
TIM S.A. · Fato Relevante
TIM cancels 13.2 million treasury shares without capital reduction
Telecom operator cancels common shares acquired under Buyback Program 8, adjusting total capital stock to 2.38 billion shares.
TIM S.A. · Fato Relevante
TIM board approves cancellation of 13.2 million treasury shares
Share capital remains unchanged while total outstanding shares adjust to 2.38 billion following buyback execution.
EZ TEC EMPREEND. E PARTICIPACOES S.A. · Fato Relevante
EZ Tec leases Esther Towers corporate complex to Itaú Unibanco for 10 years
Agreement covers 91,400 square meters of leasable area with a 5-year extension option and staggered effectiveness per tower.
SENDAS DISTRIBUIDORA S.A. · Fato Relevante
Assaí buys 18 gas stations in São Paulo state
Wholesaler acquires Millennium entities to expand non-core services and capture higher wallet share across its retail store network.
BRAVA ENERGIA S.A. · Fato Relevante
Brava Energia terminates Potiguar onshore oil field sale to A&T and PVE
Company exercised contract termination rights after longstop date expired without buyer consortium fulfilling closing conditions.
SENDAS DISTRIBUIDORA S.A. · Fato Relevante
Assaí concludes R$ 200 million debenture buyback program
Retailer repurchased 195,201 series debentures on B3 for cancellation to reduce debt obligations.
OCEANPACT SERVICOS MARITIMOS S.A. · Fato Relevante
OceanPact completes business combination with CBO Holding
Transaction closes after B3 trading session, implementing all interdependence steps under original association agreement.
AZEVEDO & TRAVASSOS ENERGIA S.A. · Fato Relevante
Azevedo & Travassos Energia receives notice terminating Potiguar assets purchase
Brava Energia subsidiary 3R Potiguar exercised unilateral termination after longstop date deadline passed.
CBO HOLDING S.A. · Fato Relevante
CBO Holding implements corporate merger steps with OceanPact
Parties executed financial and structural closing procedures following approval by respective boards of directors.
EMAE - EMPRESA METROP.AGUAS ENERGIA S.A. · Fato Relevante
EMAE shareholders approve stock merger into Sabesp
Shareholders approved transferring remaining equity base to Sabesp in exchange for Sabesp common shares.
CIA SANEAMENTO BASICO EST SAO PAULO · Fato Relevante
Sabesp incorporates all remaining EMAE shares following shareholder vote
Water utility concludes equity consolidation steps pursuant to joint restructuring protocol signed in June 2026.
JBS S.A. · Fato Relevante
JBS executes association agreement with VIVA Holding for 50-50 leather venture
JBS will contribute 100% of JBS Couros Brasil into new entity JBS VIVA upon fulfilling precedent conditions.
ALLIANÇA SAÚDE E PARTICIPAÇÕES S.A. · Fato Relevante
Fitch maintains Alliança rating at 'RD(bra)' and withdraws coverage
Rating agency affirmed position following court confirmation of extrajudicial recovery plan in São Paulo before ending coverage.
CIELO S.A. - INSTITUIÇÃO DE PAGAMENTO · Fato Relevante
Cielo files for automatic registration of R$ 2.5 billion debenture issue
Payment processor will issue single-series unsecured debentures under CVM Resolution 160 best-efforts placement.
MARISA LOJAS S.A. · Fato Relevante
B3 grants Marisa Lojas extra time to restore share price above R$ 1.00
Exchange extended deadline after AMAR3 stock rose from R$ 0.46 to R$ 0.90 following Q2 2026 financial disclosures.
RIO ALTO ENERGIAS RENOVÁVEIS S.A. · Fato Relevante
Rio Alto files to cancel CVM Category A public company registration
Shareholders unanimously approved deregistration request with tender offer waiver to simplify corporate administration.
ONCOCLINICAS DO BRASIL SERVICOS MEDICOS S.A. · Fato Relevante
Oncoclínicas elects Maurício Hasson as CFO and Investor Relations Director
Hasson replaces Isaac Quintino following board approval, initiating transitional leadership management.
B100 S.A. · Fato Relevante
B100 clarifies media reports on Central Bank probe dismissal
Central Bank unblocked assets of former subsidiary CBSF DTVM administrators following liquidation proceedings.
ARANDU INVESTIMENTOS S.A. · Fato Relevante
Arandu Partners updates tender offer valuation report for CVM registration
Controlling shareholder submitted revised valuation report meeting regulatory requirements for complete share buyout.
Plus 72 more filing(s) from 58 company(ies) this week. Subscribers get all of them, on the day they are filed.
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