Brazilian Stock Movers: Confab Falls; Dias Branco, Minerva Gain

The following companies are having unusual (IBOV) price changes in Sao Paulo trading. Stock symbols are in parentheses and prices are as of 12:02 p.m. local time. Preferred shares are usually the most-traded class of stock.

The Bovespa Index increased 0.1 percent to 57,782.23.

Confab (CNFB4 BS), a steel tube maker, fell 1.5 percent to 3.91 reais. Minority shareholders are seeking to block a 900 million reais ($484 million) contribution to its parent company’s acquisition of a stake in Usinas Siderurgicas de Minas Gerais SA, according to a complaint filed with Brazil’s securities regulator, Valor Economico reported. Confab is controlled by Tenaris SA, a unit of the Techint Group, which agreed to pay 5.03 billion reais for a 27.7 percent voting stake in Usiminas on Nov. 27.

M. Dias Branco (MDIA3 BS) rose 0.6 percent to 47.10 reais. The Brazilian maker of cookies and pasta said it bought Pelagio Participacoes SA and J. Brandao Comercio e Industria Ltda. for 240 million reais, according to a regulatory filing. The acquired companies produce and sell cookies, pasta and snacks under the Estrela, Pelaggio and Salsito brands, the filing said.

Minerva SA (BEEF3 BS) climbed 0.8 percent to 4.90 reais. The Brazilian meatpacker may buy back as much as 10 percent of its outstanding shares in the next year, according to a regulatory filing.

To contact the reporter on this story: Ney Hayashi in Sao Paulo at

To contact the editor responsible for this story: David Papadopoulos in New York at

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