Brazil has a “For Sale” sign in its front yard.
Saddled with debt and an economic downturn, companies from builders to miners are opening their doors to bargain hunters. The government, aiming to win back investors and stave off a ratings downgrade, may back as much as 20 billion reais ($6.3 billion) in IPOs by state-run companies this year. Together, that’s set to help Brazil regain some of the momentum seen in the public offering and M&A markets late last decade, when Brazil was a darling of international investors.
The heads of two of Brazil’s largest conglomerates were detained by police as part of a widening corruption investigation at state oil company Petrobras.
