Cosan, Daycoval, Gruma, Vale: Latin America Equity Preview

The following companies may have unusual price changes in Latin American trading. Stock symbols are in parentheses and share prices reflect the previous close.

The MSCI Latin America Index fell for the third day, declining 0.1 percent to 4,523.83.

Brazil

Banco Daycoval SA (DAYC4 BS): The Brazilian lender specializing in loans to small- and mid-size companies sold $300 million of five-year debt in international markets, according to data compiled by Bloomberg. The shares added 0.8 percent to 12.35 reais.

Cosan SA Industria & Comercio (CSAN3 BS): Hedge-fund managers and other large speculators decreased their net-long position in New York sugar futures in the week ended Jan. 18, according to U.S. Commodity Futures Trading Commission data. The world’s biggest sugarcane processor dropped 2.8 percent to 26.60 reais.

JBS SA (JBSS3 BS): The Brazilian meat processor is considering a revised bid backed by Blackstone Group LP for Sara Lee Corp. after the food company received an offer from Apollo Global Management LLC, Bain Capital LLC and TPG Capital, according to people with knowledge of the matter. The bid from Apollo, Bain and TPG gets close to the $20 a share that Sara Lee’s board is seeking, said one of the people, who declined to be identified because the process is private. JBS advanced 1.6 percent to 6.90 reais.

Vale SA (VALE5 BS): The world’s biggest iron-ore exporter denied speculation it’s in talks to buy a fertilizer producer, saying the company is focused on organic growth, according to a regulatory filing. Vale, together with BHP Billiton Ltd., are the likeliest candidates to bid for Cargill Inc.’s 64 percent holding in fertilizer producer Mosaic Co., Canadian newspaper Globe and Mail reported Jan. 20 without saying where it got the information. Vale gained 0.7 percent to 52.51 reais.

Mexico

Gruma SAB (GRUMAB MM): Mexico’s largest maker of corn flour for tortillas plans to sell a 7.7 percent stake in lender Grupo Financiero Banorte SAB (GFNORTEO MM), according to a statement released late Jan. 21 to the Mexican stock exchange.

Gruma surged 7.2 percent to 26.18 pesos. Grupo Financiero Banorte, Mexico’s third-largest bank by outstanding loans, advanced 0.1 percent to 56.60 pesos.

Grupo Mexico SAB (GMEXICOB MM): Hedge-fund managers and other large speculators increased their net-long position in New York copper futures in the week ended Jan. 18, according to U.S. Commodity Futures Trading Commission data. The country’s largest mining company slipped 0.9 percent to 47.29 pesos.

To contact the reporter on this story: Jonathan J. Levin in Mexico City at jlevin20@bloomberg.net

To contact the editor responsible for this story: David Papadopoulos at dpapadopoulos@bloomberg.net

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