Ecopetrol, La Polar, Petrobras: 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 climbed 2.2 percent to 4,382.27. Peru’s market is closed for a holiday.

Brazil

Aliansce Shopping Centers SA (ALSC3) (ALSC3 BS): The Brazilian mall operator said it agreed to buy a 50 percent stake in a project of a shopping mall in Vila Velha, in the Brazilian state of Espirito Santo. The company will pay 70 million reais ($44 million) for the stake and make additional investments in the project, Aliansce said yesterday in a regulatory filing. The total investment estimated for the project is 292 million reais, the company said. The shares retreated 0.1 percent to 13.98 reais.

ALL America Latina Logistica SA (ALLL3) (ALLL3 BS): Latin America’s largest railroad company said it approved the sale of as much a 750 million reais of local bonds due in five years. The stock advanced 2.6 percent to 13.25 reais.

BR Properties SA (BRPR3) (BRPR3 BS): The company is selling as many as 40.3 million common shares for 17.15 reais in a primary offer, according to a regulatory filing yesterday. The shares fell 2 percent to 17.15 reais.

Petroleo Brasileiro SA (PETR4) (PETR4 BS): Petrobras workers started voting yesterday on whether to hold protests to pressure management of Brazil’s state-controlled oil company for higher wages. Voting will continue through July 5, union spokeswoman Alessandra Murteira said in a telephone interview from Rio de Janeiro. The protests won’t affect operations, she said. The shares gained 1.6 percent to 23.45 reais.

Chile

Empresas La Polar SA (LAPOLAR) : The department store operator under investigation for irregular consumer loans practices will meet with bondholders today to discuss waiving covenants that would accelerate prepayments. La Polar rose 17 percent to 736.51 pesos.

Colombia

Ecopetrol SA (ECOPETL) : Colombia’s largest oil company said its daily crude output reached more than 750,000 barrels on June 23. The Bogota-based company aims to produce 1 million barrels a day by 2015, Ecopetrol said yesterday in an e-mailed statement. The shares slipped 0.3 percent to 3,800 pesos.

Mexico

America Movil SAB (AMXL MM): The wireless carrier said it scored a legal victory in its bid to overturn a record $1 billion fine after Eduardo Perez Motta, president of the Federal Competition Commission, was recused from voting on an appeal of the penalty. The shares advanced 1.2 percent to 15.48 pesos.

Coca-Cola Femsa SAB (KOFL MM): Mexico’s largest soft-drink bottler agreed to pay 6.55 billion pesos ($555 million) in stock for the Coke bottling operations of Grupo Tampico SA. Closely held Grupo Tampico will get 63.5 million newly issued Coca-Cola Femsa shares valued at 103.20 pesos per share, according to an e-mailed statement yesterday. The stock slipped 0.5 percent to 109.94 pesos.

Mexichem SAB (MEXCHEM* MM): Petroleos Mexicanos, the state oil company, and Mexichem plan to invest $556 million to create a petrochemical company in a joint venture to increase production of vinyl chloride monomer. Shares of the largest maker of plastic pipes in Latin America gained 1.8 percent to 46.4 pesos.

To contact the reporter on this story: Bryan Gibel in New York at bgibel@bloomberg.net

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

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