PriceWaterhouseCoopers creates Brazil-China mergers and acquisitions unit

17 July 2007

Sao Paulo, Brazil, 17 July – International consultancy firm PriceWaterhouseCoopers opens a division on Tuesday to manage acquisitions and mergers involving companies from Brazil and China, seeking to meet rising demand from business partnerships between the two countries, media reported.

Gazeta Mercantil business daily cited PwC’s Brazilian director, Henrique Luz, as saying the initiative was in response to rapidly expanding commercial ties between the two countries.

PwC’s new Brazilian unit is called the China Desk and involves two teams: one responsible for mergers and acquisitions and the other for undertaking audits, as well as briefing Chinese companies on doing business in Brazil.

The China Desk is managed by Michela Chin Silva, a Mozambican of Chinese extraction, who will be assisted by Edwin Wong, head of the Brazil Desk in PwC’s Beijing office.

Cultural factors and increasing interest among Chinese to do business in Brazil were the main reasons behind the creation of PwC’s bilateral department, added Luz.

The Brazil-China Business Council (CEBC) estimates that two-way exchanges will surpass US$ 20 billion this year, double last year’s level and making China the second-largest commercial partner of Brazil. (macauhub)