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Brazilian Stock Movers: B2W Varejo, Cosan, Lojas Americanas, Tam

Jan. 10 (Bloomberg) -- The following companies had unusual price changes in Sao Paulo trading. Stock symbols are in parentheses. Preferred shares are usually the most-traded class of stock.

The Bovespa index rose 0.1 percent to 70,127.04.

B2W Cia. Global do Varejo (BTOW3 BS) surged 7 percent to 34.24 reais. Valor Economico reported Lojas Americanas SA, the controlling stakeholder in Brazil’s largest online retailer, plans to buy the shares it doesn’t already own. Lojas Americanas said in a regulatory filing that no decision had been made. Lojas Americanas (LAME4 BS) fell 0.8 percent to 15.53 reais.

Cosan SA Industria & Comercio (CSAN3 BS) gained 1.3 percent to 27.85 reais. The company signed a memorandum of understanding to buy Usina Zanin Acucar e Alcool Ltda. for 142 million reais ($84 million), according to a regulatory filing. Cosan, the world’s biggest sugarcane processor, will assume 236.6 million reais of debt as part of the deal.

Tam SA (TAMM4 BS) fell 1.7 percent to 38.77 reais. Brazil may cut the number of flights operated by Tam, the nation’s biggest airline by market share, due to the operator’s delays and cancelations during the holiday season, Agencia Brasil reported, citing Defense Minister Nelson Jobim.

To contact the reporter on this story: Alexander Ragir in Rio de Janeiro at aragir@bloomberg.net

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

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