B3, formerly Bovespa, will assist the BNDES in providing specialized technical advice and operational support necessary to tender the Loteria Instantânea
B3 (Brazil, Bolsa, Balcão) is the official stock exchange in Brazil. Headquartered in the city of São Paulo, it emerged under the current format after the merger of the São Paulo Stock Exchange, Commodities and Futures Exchange with the Custody and Financial Settlement Center of Securities, approved by the Brazilian Securities and Exchange Commission (CVM) and Administrative Council for Economic Defense (CADE) on March 22, 2017. The company is the 5th largest capital market and financial market in the world, with assets of 13 billion dollars.
The Court of Auditors of the Union has not yet given the required final approval, and this delay is added to the requests of the interested companies that need more time to analyze the business in order to clear their doubts and to form consortiums with other companies to predict the investment. The GMB knew that the edicts would be published at the end of November or beginning of December and approximately 60 days later (January or February 2018) could carry out the exclusive lottery bid.
The LOTEX concession process should have the announcements ready for publication in October as scheduled on the PPI (Investment Partnerships Program) website itself. The agenda of the project contemplated having an auction in December of this year, something that soon will be modified and announced of official form since the TCU will need more time than stipulated for its analyzes approval and delivery to the Ministers.
For their part, the private companies that participated in the different road shows in London, Las Vegas and Rio de Janeiro appreciated the transparency of the process carried out by the BNDES and the Ministry of Finance. However, they require more time and get answered the doubts that have arisen as they internalize more about what the business offers them.
The BNDES was designated as responsible for the execution and monitoring of the privatization process by the Council of the Program of Investment Partnerships of the Presidency of the Republic. The Ministry of Finance is also responsible for coordinating and monitoring the procedures and stages of the privatization process.
