Brazil: Unidas, controlled by SAG, is biggest Portuguese investor this year

2 April 2009

Brasilia, Brazil, 2 April – Unidas, a car hire company controlled by Portugal’s SAG – Soluções Automóveis Globais, invested US$21 million in February in Brazil, despite the world financial crisis, the Brazilian central bank said Wednesday.

With this investment, the company, which is the Brazilian fleet management market leader, with around 21,000 vehicles, tops the list of Portuguese investors in Brazil this year.

Portuguese investment in January and February of this year fell 74 percent year on year to US$52 million.

Portugal is currently in 13th place in the list of biggest investors in Brazil in 2009, accounting for 1.8 percent of total foreign investment.

The biggest investors in Brazil are the Netherlands (US$793 million), the United States (US$515 million), France (US$217 million) and Germany (US$174 million), followed by Australia, Spain, the Cayman Islands, Japan, Luxembourg, Switzerland, Panama and Bermuda.

As well as the US$21 million invested by Unidas in Brazil, Portuguese investments in Brazil in February included those from insurance broker Lazam – MDS Correctora e Administradora de Seguros and e Eapar Participações (US$8 million).

The Central Bank also slightly decreased its projection for total Foreign Direct Investment (FDI) for this year from US$30 billion to US$25 billion due to the international financial crisis.

Last year the value of those investments in Brazil totalled US$45.06 billion. (macauhub)