Deals
Billionaire Clan From Brazil Heads to New York in Hunt for Deals
- Brazil conglomerate Votorantim is setting up a New York office
- Team to focus on opportunities in new sectors in de-risk push
Photographer: Victor J. Blue/Bloomberg
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Votorantim SA is opening an office in New York as the conglomerate owned by one of Brazil’s richest families hunts for deals to diversify its cement-to-orange juice portfolio.
The firm set aside $600 million for an initial batch of acquisitions and is starting with a five-person team scouring for opportunities in different sectors, according to Chief Financial Officer Sergio Malacrida. One area of interest is infrastructure as the U.S. embarks on $550 billion in fresh spending on roads, bridges, public transit and other projects.