Latest news with #SãoPaulo
Bloomberg
a day ago
- Politics
- Bloomberg
Lula Says He's Up For Reelection If Healthy, Will Beat Far-Right
Brazilian President Luiz Inacio Lula da Silva insisted that he will run for reelection next year provided he remains healthy, pledging to block the far-right from regaining power in Latin America's largest nation. If successful in the 2026 vote, the leftist Lula would secure an unprecedented fourth term as president.
Forbes
a day ago
- Business
- Forbes
How Agentic AI Is Slowly Reshaping Financial Services At Febarban Tech
Last week, I had the extraordinary honor of keynoting at Febraban Tech 2025, the largest financial services innovation conference in Latin America. Held in São Paulo's Transamerica Expo Center, the event attracted over 58,000 attendees under the theme "The Acceleration of the Financial Sector in the Age of Intelligence." The energy in the room was electric—charged with ambition, urgency, and optimism about how AI, blockchain, and governance are reshaping financial services. Before delivering my keynote, AI First, Human Always, I attended one of the most powerful sessions of the event: the opening CEO panel, featuring the leaders of Brazil's largest banks. This discussion, moderated by Febarban president Isaac Sidney, set the tone for everything that followed. These weren't cautious executives—they were bold architects of a new era for financial services. The panel featured CEOs from Brazil's largest banks: Milton Maluhy Filho (Itaú Unibanco), Tarciana Medeiros (Banco do Brasil), Marcelo Noronha (Bradesco), Mario Leão (Santander), Carlos Vieira (Caixa Econômica Federal), and Roberto Sallouti (BTG Pactual). What united their voices was a shared focus on how banks are becoming increasingly intelligent platforms that are highly connected, predictive, and sustainable. AI strategy was central to their discussions, with the CEOs addressing how the strategic use of data and algorithms is shaping new customer experiences and optimizing operations. They discussed new business models and disruptive solutions that expand access to credit and investments. The executives also emphasized their commitment to ESG goals, detailing how banks are exercising leadership in the transition to a green economy, financing sustainable projects, implementing ESG criteria, and promoting initiatives that accelerate Brazil's economic decarbonization, especially in the context of COP 30. According to the president of Febraban, Isaac Sidney, "Artificial Intelligence is profoundly reshaping the banking sector across the entire value chain — from back-office to customer experience. This convergence allows for credit decisions with greater precision and speed, raises real-time fraud detection standards, drives hyper-personalization of products and services, and optimizes critical operational processes, freeing up human capital for strategic initiatives. At the same time, AI strengthens data governance and regulatory compliance, ensuring that innovation and security go hand in hand. Therefore, it is a structural transformation that repositions banks as intelligent digital platforms, capable of anticipating needs, generating sustainable value, and fostering financial inclusion at scale." Brazil's banks plan to invest R$ 47.8 billion in technology in 2025 alone, a 13% increase from the previous year. This isn't incremental—it's systemic transformation of the financial sector. As I took the stage to deliver the keynote that followed, I was deeply aware of the moment. My talk focused on what it truly means to lead an AI-first organization—and how to do so responsibly. AI is not just a set of tools or models. It's a mindset. And in financial services, it requires precision, ethics, and bold leadership. Banco do Brasil exemplifies this approach. Their 2021 AI Ethics Guidelines (that's right from 2021!) prioritize fairness, transparency, and privacy across the entire AI lifecycle. Most impressively, this isn't confined to compliance—it's embedded across business units with quarterly ethics reviews, mandatory bias testing, and real-time monitoring dashboards. Blockchain-based audit trails ensure every AI decision can be traced and validated. Itaú Unibanco has established AI governance committees at board and operational levels, implementing "AI impact assessments" that evaluate societal effects before production deployment. Their framework requires human oversight for high-stakes decisions like loan approvals above certain thresholds. This kind of approach stood in contrast to what I've seen in other regions, where AI governance is often bolted on after-the-fact. In Latin America, responsible AI is increasingly seen as a strategic differentiator. Governance must move from the margins to the center of every AI-first initiative. What makes Latin America so uniquely positioned to lead the next wave of innovation? Four reasons stood out in every session I attended. First, Latin America is skipping the transformation phase. While banks elsewhere struggle to retrofit AI into decades-old systems, the region's institutions are building AI-native from a clean slate—fewer legacy constraints, more openness to disruption. Second, blockchain isn't an afterthought—it's foundational. While Brazilian bank CEOs focused their main panel on AI and sustainability, blockchain commanded dedicated sessions. MIT Technology Review's CEO positioned it alongside AI as today's most impactful trend. FEBRABAN featured live tokenization demos and an entire track on "on-chain and the next step of digital assets." Third, the human element is central. Latin America's emphasis on community, trust, and relationship-building makes the region a natural fit for human-centered AI. The phrase "AI First, Human Always" isn't just a strategy here—it's a reflection of cultural values. Finally, the region is mobile-first, and by extension, agent-first. With some of the highest smartphone adoption rates globally, Latin American users are already engaging in digital ecosystems. As AI agents begin coordinating across financial products—handling transactions, customer support, and advisory—consumers here are ready for it. In many ways, they're already living in the Agent-to-Agent (A2A) economy. I saw this readiness in discussions with CIOs from Itaú, Bradesco, Banco do Brasil, BTG Pactual, and Caixa. They spoke not only of deploying GenAI tools, but of operationalizing AI agents across internal teams and customer-facing services, all supported by blockchain-verified identity and transaction systems. JP Morgan stood out as a global reference point. Their AI models detect fraud in real-time, reducing false positives by 50%. Katana Lens integrates over 800 data sources and uses 50+ machine learning models, resulting in 42% improvement in early detection. Latin America is setting its own examples. Itaú Unibanco launched its "Inteligência de Investimentos Itaú", using generative AI to provide personalized investment recommendations to clients, initially available to 10,000 customers with plans to expand to 500,000 by year-end. The bank operates over 1,000 AI models and employs more than 430 data scientists and 60 machine learning engineers. BTG Pactual partnered with Feedzai to implement AI-powered financial crime monitoring, including advanced machine learning for transaction monitoring and Pix payment system oversight. In speaking to João Marcello Dantas Leite, an Executive Officer at BTG Pactual. He told me that 'FebrabanTech 2025 hosted a series of provocative debates about the role AI will play in the financial space. With 58,000 visitors, 500 speakers and 200 panels, this was the event's 35th edition, and this time it focused on how AI will be an accelerator of the financial sector development." The bank has also moved into digital assets, launching its own dollar-backed stablecoin "BTG Dol" and operating a crypto platform for direct cryptocurrency investments. BTG leverages blockchain technology through initiatives like ReitBZ, which uses digital asset tokens to provide global investors access to Brazilian real estate opportunities. As I closed my session and spent time walking the exhibition floor, meeting entrepreneurs, data scientists, and bank executives, one message kept echoing: Latin America isn't following global trends—it's helping define them. Febraban Tech 2025 confirmed for me that we're entering a new chapter of financial services, one led by institutions that are bold enough to act, transparent enough to earn trust, and visionary enough to build AI for people—not just for performance. The journey from São Paulo has just begun. Latin America isn't following global trends—it's defining them. Financial services leaders: The question isn't whether to embrace AI-first thinking, but how quickly you can implement governance frameworks that build trust. Start with ethics, build on blockchain infrastructure, never lose sight of human impact. Technology executives: Study how blockchain and AI integration creates competitive advantage. Leading institutions aren't just adopting these technologies—they're architecting them together from the ground up. The question is: Will you be watching from the sidelines, or building the future? Did you enjoy this story Agentic AI In Financial Services? Don't miss my next one: Use the blue follow button at the top of the article near my byline to follow more of my work.
Yahoo
2 days ago
- Business
- Yahoo
PagSeguro (PAGS) Flies 12.68% Higher on Dividend Declaration
PagSeguro Digital Ltd. (NYSE:PAGS) is one of the . PagSeguro saw its share prices grow by 12.68 percent on Monday to close at $9.42 apiece as investors gobbled up stocks following the declaration of cash dividends. In a regulatory filing, PagSeguro Digital Ltd. (NYSE:PAGS) said its board of directors approved the distribution of cash dividends worth $0.12 to shareholders as of record date June 16, 2025. The dividends are payable on August 15, 2025. PagSeguro Digital Ltd. (NYSE:PAGS) said it expects to make two additional special distribution of cash dividends in the same amount for common shareholders within the next three quarters, subject to certain conditions, including market and company financial conditions. In the first quarter of the year, PagSeguro Digital Ltd. (NYSE:PAGS) said it achieved an 8.9-percent increase in net income at R$525 million from R$482 million in the same period last year. Revenues grew by 12.6 percent to R$4.85 billion from R$4.3 billion year-on-year. A businessperson standing in front of a brick-and-mortar establishment using a tablet to process an in-person payment. Looking ahead, PagSeguro Digital Ltd. (NYSE:PAGS) said it is confident to deliver and achieve its 2025 guidance, saying that the bank is 'a company recognized for its strong track record in delivering results and balancing growth with profitability despite economic cycles.' While we acknowledge the potential of PAGS as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
2 days ago
- Business
- Yahoo
Lavoro Reaches Out-of-Court Restructuring Agreement with Key Suppliers and Reports Certain Preliminary Unaudited Financial Information for Second Quarter of Fiscal 2025
Lavoro Brazil reached an agreement with its principal suppliers providing for a multi-year inventory financing framework and the extension of obligation payment terms, positioning the business unit for recovery 2Q25 preliminary unaudited1 consolidated revenue was R$2.25 billion, a decrease of 27% year-over-year, primarily due to inventory shortages in Brazil Ag Retail; preliminary unaudited consolidated gross profit decreased 28% to R$366.9 million FY2025 guidance withdrawn Management to host a conference call today, at 5:00 p.m. ET (6:00 p.m. BRT) SíO PAULO, June 18, 2025 (GLOBE NEWSWIRE) -- Lavoro Limited (Nasdaq: LVRO, LVROW) ('Lavoro', or the 'Company'), the first U.S. listed pure-play agricultural inputs retailer in Latin America, announced today that its subsidiary, Lavoro Agro Holding S.A. ('Lavoro Brazil') has reached an out-of-court restructuring agreement with a number of its principal product suppliers that provides for the extension of payment terms and secures future product supply for a muti-year period in order to help mitigate further supply chain disruption ('Agreement'). 'This Agreement reflects the trust and long-term commitment we have established with our key suppliers,' said Ruy Cunha, CEO of Lavoro. "By securing a multi-year supply agreement with transparent and standardized inventory financing terms, we are not only taking important steps toward resolving immediate product availability constraints, but also enhancing the long-term predictability of Lavoro Brazil's operations. Moreover, the extension to supplier payment obligations will provide us the flexibility to right-size Lavoro Brazil's fixed cost structure, drive operational efficiencies, and sharpen the strategic focus on its core strengths, which we believe will help ensure it emerges from this cycle as a leaner, more agile and resilient business unit.' Accordingly, Lavoro Brazil formally submitted to the Brazilian courts today an out-of-court negotiated reorganization plan ( 'EJ Plan') in connection with the Agreement. The EJ Plan, structured under Brazil's Recuperação Extrajudicial legal framework, will become binding on all eligible product suppliers upon court approval, and not just those who are parties to the initial Agreement, thereby ensuring broad-based effectiveness of the reorganization process. The principal suppliers party to the Agreement include BASF, FMC Agrícola, UPL Brasil, EuroChem, and Ourofino, and are committed to supporting Lavoro Brazil's EJ Plan. Discussions with other key suppliers are ongoing and at advanced stages but were not finalized in time for inclusion in the initial EJ Plan submission. While full ratification of the Agreement is conditional upon court approval of the EJ Plan, its supply and financing terms are already in effect, and the normal flow of inventory from these partners has resumed in the fourth fiscal quarter. ___________________________________ 1 See 'Preliminary Information below. The EJ Plan involves the product suppliers of Lavoro Brazil, and does not impact financial lenders and creditors, third-party service providers, contractors, or employees. Furthermore, the EJ Plan applies solely to Lavoro Brazil, which comprises the Brazil Ag Retail segment and includes Perterra2, a subsidiary consolidated under Crop Care. Lavoro's other subsidiaries within the segments Latam Ag Retail and Crop Care (excluding Perterra) are not included in the EJ Plan. The EJ Plan provides for an extension of supplier obligations due in FY25, rescheduling repayments over a two- to five-year period, which would improve Lavoro Brazil's financial flexibility. In addition, the EJ Plan establishes a multi-year contractual framework that would standardize inventory supply and financing terms, ensuring reliable product availability and mitigating the risk of future abrupt changes in industry-wide credit conditions that could disrupt Lavoro Brazil's operations. As context, Brazil's 2023/24 crop year was impacted by a confluence of headwinds including falling commodity and agricultural input prices, declining farmer profitability, severe droughts across key producing states, and restricted liquidity for farmers. Lavoro Brazil navigated this challenging environment by gaining market share and entered FY25 positioned to benefit from signs of market stabilization. However, as previously disclosed in the Company's 1Q25 earnings release, a sharp deterioration in inventory financing conditions, exacerbated by the judicial reorganization of a major agriculture retail competitor in Brazil, led to severe product shortages during the peak of crop planting season. This disruption materially affected Lavoro Brazil's commercial operations in November and December. Although negotiations with key suppliers in January partially alleviated bottlenecks, it became clear that the typical bilateral approach of negotiating with each supplier individually would not sufficiently resolve the product supply issue to avoid significant impacts in fiscal 2026. Lavoro management believes the EJ Plan emerged as the most effective solution to align suppliers under a standardized inventory supply and financing structure, helping ensure stability going forward. Key Details of the EJ Plan The EJ Plan restructures approximately R$2.5 billion in trade payables owed by Lavoro Brazil to its agricultural input suppliers as of the filing date. The EJ Plan categorizes suppliers into a few creditor classes, each with tailored repayment and supply obligations: General Supporting Creditors: Receive 100% of principal, with interest indexed to Brazil's inflation index (IPCA). Up to 10% of supplier claims are payable in-kind through products previously purchased and currently held in inventory by Lavoro Brazil. The remaining balance to be paid Repayment to occur in 10 equal semiannual installments from September 2025, through April 2030. Seed Supporting Creditors: Receive 100% of principal, with IPCA-indexed interest. Repayment to occur in 5 equal semiannual installments from October 2025, through September 2027. ___________________________________ 2 Perterra Trading S.A. and Perterra Distribuidora de Insumos S.A., collectively referred to as 'Perterra'. Special Supporting Creditors: Receive 100% of principal, with IPCA-indexed interest. Up to 20% of supplier claims (or up to 40% of the claim for US dollar denominated claims) are payable in-kind through products previously purchased and currently held in inventory by Lavoro Brazil. The remaining balance to be paid in 8 equal semiannual installments from September 2025, through April 2029. Small Supporting Creditors: Receive a lump-sum cash payment of up to R$50,000, with the balance (if any) discharged. Non-Supporting Creditors: Receive a single cash payment equivalent to 50% of the claim on June 2032, with IPCA-indexed interest accrued until the payment date. In parallel, the EJ Plan includes a multi-year inventory supply and financing framework with certain supporting creditor class, standardizing commercial terms and ensuring product availability through the length of the EJ Plan. The EJ Plan was filed with the São Paulo reorganization court on June 18th, 2025. Upon confirmation by the court, the EJ Plan will result in the novation of affected obligations, extinguish related judicial proceedings, and provide for the release of guarantees, and credit bureau regularization under Brazilian law. The full EJ Plan can be found on Lavoro's Investor Relations website. Impact of EJ Plan on 2Q25 Financial Disclosure and Guidance Given the complexities associated with the EJ Plan, which impacted the completion of Lavoro's financial closing procedures, Lavoro is providing certain preliminary unaudited financial information relating to revenue and gross profit for the second quarter of fiscal 2025. Lavoro remains committed to transparency and expects to provide full financial results upon completion of these procedures. As a result of these dynamics, the Company has determined it is prudent to withdraw its previously issued fiscal 2025 financial outlook at this time. 2Q25 Preliminary Unaudited Revenue and Gross Profit Financial Information3,4 2Q25 preliminary unaudited consolidated revenue was R$2.25 billion, a decrease of 27% year-over-year (y/y), primarily due to inventory shortages in Brazil Ag Retail which led to booking cancellations and indirectly impacted Crop Care revenue as well. In USD terms, revenue decreased 38% y/y to $384.4 million, including a 15% depreciation of the Brazilian real (BRL) relative to the prior year period. 2Q25 preliminary unaudited consolidated gross profit decreased 28% to R$366.9 million, with gross margins contracting 40 bps to 16.3%, driven primarily by lower distribution margins in Brazil Ag Retail and adverse product mix effect in Crop Care. In USD terms, gross profit decreased by 39% to $62.8 Ag Retail's preliminary unaudited segment revenue declined 30% y/y to R$1.84 billion in 2Q25, due to the previously mentioned product availability constraints. Preliminary unaudited segment gross margin contracted by 240bps to 11.5%. This margin compression reflects the strategic decision to prioritize long-term client relationships by fulfilling orders with equivalent or, in many cases, superior products to those that were originally ordered items but unavailable, at the expense of short-term Ag Retail preliminary unaudited segment revenue increased 4% to R$287.3 million in 2Q25, reflecting stable market conditions and the appreciation of the Colombian peso relative to the Brazilian real. Preliminary unaudited segment gross profit increased by 32% to R$64.8 million, with gross margins expanding by 480 bps to 22.6%, driven by improved margins in seeds and specialty products, and the positive effect from product category mix Care preliminary unaudited segment revenue was R$251.5 million in 2Q25, a decrease of 30% y/y, driven by two separate factors. First, Agrobiologica's sales were negatively affected by temporary, industry-wide regulatory uncertainty surrounding 'on-farm' biologicals, a situation that has since been resolved following the enactment of new legislation. Second, sales of specialty fertilizers and adjuvants from Crop Care subsidiaries Union Agro and Cromo to Lavoro Brazil were negatively affected by the cancellation of bundled purchase orders due to broader product shortages. ___________________________________ 3 Preliminary unaudited financial information presented in US dollars in throughout this release are converted using the following average period USD/BRL exchange rate: 5.841 for 2Q25, 5.546 for 1Q25, 4.955 for 2Q24, and 4.883 for 1Q24. 4 See 'Preliminary Information' below. Crop Care preliminary unaudited segment gross profit fell 53% y/y to R$59.5 million, with gross margins contracting 1,160 basis points to 23.7%. The margin compression reflected an unfavorable shift in product mix, led by weaker biological sales, as well as pressure from fixed-cost under-absorption and higher raw material costs due to the weaker BRL. Preliminary Unaudited Consolidated Results (BRL) 2Q24 2Q25 Chg. % 1H24 1H25 Chg. % (in millions of Brazilian reais) Revenue by Segment 3,065.9 2,245.5 (27%) 5,431.9 4,298.2 (21%) Brazil Ag Retail 2,619.9 1,840.7 (30%) 4,637.8 3,390.6 (27%) Latam Ag Retail 276.3 287.3 4% 600.5 624.3 4% Crop Care 360.8 251.5 (30%) 535.8 545.2 2% Intercompany eliminations (191.1) (134.0) (342.3) (261.9) Revenue by Category 3,065.9 2,245.5 (27%) 5,431.9 4,298.2 (21%) Inputs revenue 3,026.7 2,199.8 (27%) 5,166.7 4,142.9 (20%) Grains revenue 39.2 45.7 17% 265.2 155.3 (41%) Gross Profit 510.6 366.9 (28%) 803.9 688.0 (14%) Brazil Ag Retail 363.2 212.4 (42%) 539.5 401.4 (26%) Latam Ag Retail 49.2 64.8 32% 93.9 112.6 20% Crop Care 127.4 59.5 (53%) 203.3 143.7 (29%) Intercompany elim. (29.2) 30.2 (32.8) 30.3 Gross Margin 16.7% 16.3% -40 bps 14.8% 16.0% 120 bps Brazil Ag Retail 13.9% 11.5% -240 bps 11.6% 11.8% 20 bps Latam Ag Retail 17.8% 22.6% 480 bps 15.6% 18.0% 240 bps Crop Care 35.3% 23.7% -1160 bps 37.9% 26.4% -1150 bps Gross Margin (% of Inputs revenue) 16.9% 16.7% -20 bps 15.6 % 16.6% 100 bps Brazil Ag Retail 14.0% 11.7% -230 bps 12.2% 12.2% 0 bps Latam Ag Retail 18.1% 24.2% 610 bps 16.6% 19.8% 320 bps Crop Care 35.3% 23.7% -1160 bps 37.9% 26.4% -1150 bps Preliminary Unaudited Consolidated Results (USD) 2Q24 2Q25 Chg. % 1H24 1H25 Chg. % (in millions of US dollars) Revenue by Segment 618.7 384.4 (38%) 1,103.2 754.6 (32%) Brazil Ag Retail 528.7 315.1 (40%) 942.0 594.6 (37%) Latam Ag Retail 55.8 49.2 (12%) 122.2 110.0 (10%) Crop Care 72.8 43.1 (41%) 108.6 96.1 (12%) Intercompany eliminations (38.6) (22.9) (69.5) (46.0) Revenue by Category 618.7 384.4 (38%) 1,103.2 754.6 (32%) Inputs revenue 610.8 376.6 (38%) 1,049.0 727.0 (31%) Grains revenue 7.9 7.8 (1%) 54.2 27.6 (49%) Gross Profit 103.0 62.8 (39%) 163.1 120.7 (26%) Brazil Ag Retail 73.3 36.4 (50%) 109.4 70.5 (36%) Latam Ag Retail 9.9 11.1 12% 19.1 19.7 3% Crop Care 25.7 10.2 (60%) 41.2 25.4 (38%) Intercompany elim. (5.9) 5.2 (6.6) 5.2 Gross Margin 16.6% 16.3% -30 bps 14.8% 16.0% 120 bps Brazil Ag Retail 13.9% 11.5% -240 bps 11.6% 11.9% 30 bps Latam Ag Retail 17.7% 22.6% 490 bps 15.6% 17.9% 230 bps Crop Care 35.3% 23.7% -1160 bps 37.9% 26.4% -1150 bps Gross Margin (% of Inputs revenue) 16.9% 16.7% -20 bps 15.5 % 16.6% 110 bps Brazil Ag Retail 14.0% 11.7% -230 bps 12.2% 12.2% 0 bps Latam Ag Retail 18.1% 24.2% 610 bps 16.6% 19.7% 310 bps Crop Care 35.3% 23.7% -1160 bps 37.9% 26.4% -1150 bps Conference Call Details Lavoro management will host a conference call and audio webcast on June 18th, 2025, at 5:00 pm ET (6:00 pm BRT) to discuss the out-of-court restructuring agreement with its suppliers and the preliminary unaudited fiscal 2Q25 revenue and gross profit financial information. Participant numbers: 1-844-539-3703 (U.S.), 1-412-652-1273 (International) The live audio webcast will be accessible in the Events section on the Company's Investor Relations website at About Lavoro Lavoro is Brazil's largest agricultural inputs retailer and a leading producer of agricultural biological products. Lavoro's shares and warrants are listed on the Nasdaq stock exchange under the tickers "LVRO" and "LVROW." Through its comprehensive portfolio of products and services, the company empowers small and medium-size farmers to adopt the latest emerging agricultural technologies and enhance their productivity. Founded in 2017, Lavoro has a wide geographical presence across Latin America, operating in Brazil, Colombia, Uruguay, and Ecuador. Learn more about Lavoro at Reportable Segments Lavoro's reportable segments are the following: Brazil Ag Retail: comprises companies dedicated to the distribution of agricultural inputs such as crop protection, seeds, fertilizers, and specialty products, in Brazil. Latam Ag Retail: includes companies dedicated to the distribution of agricultural inputs outside Brazil (currently primarily in Colombia). Crop Care: includes companies that manufacture and distribute our own portfolio of private label specialty products (i.e., biologicals, adjuvants, specialty fertilizers, and other specialty products), and import and distribute off-patent crop protection products. Lavoro's Fiscal Year Lavoro follows the crop year, which means that its fiscal year comprises July 1st of each year, until June 30 of the following year. Given this, Lavoro's quarters have the following format:1Q – quarter starting on July 1 and ending on September 30.2Q – quarter starting on October 1 and ending on December 31.3Q – quarter starting on January 1 and ending on March 31.4Q – quarter starting on April 1 and ending on June 30. Forward-Looking Statements The contents of any website mentioned or hyperlinked in this press release are for informational purposes and the contents thereof are not part of or incorporated into this press release. Certain statements made in this press release are 'forward-looking statements' within the meaning of the 'safe harbor' provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as 'aims,' 'estimate,' 'plan,' 'guidance,' 'project,' 'forecast,' 'intend,' 'will,' 'expect,' 'anticipate,' 'believe,' 'seek,' 'target' or other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding the expectations regarding the growth of Lavoro's business and its ability to realize expected results, grow revenue from existing customers, and consummate acquisitions; opportunities, trends, and developments in the agricultural input industry, including with respect to future financial performance in the industry. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as and must not be relied on by any investor as, a guarantee, an assurance, a prediction, or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of Lavoro. These forward-looking statements are subject to a number of risks and uncertainties, including but not limited to, the outcome of any legal proceedings that may be instituted against Lavoro related to the business combination agreement or the transaction; the ability to maintain the listing of Lavoro's securities on Nasdaq; the price of Lavoro's securities may be volatile due to a variety of factors, including changes in the competitive and regulated industries in which Lavoro operates, variations in operating performance across competitors, changes in laws and regulations affecting Lavoro's business; Lavoro's inability to meet or exceed its financial projections and changes in the consolidated capital structure; changes in general economic conditions; the ability to implement business plans, forecasts, and other expectations, changes in domestic and foreign business, market, financial, political and legal conditions; the outcome of any potential litigation, government and regulatory proceedings, investigations and inquiries; costs related to being a public company and other risks and uncertainties indicated from time to time in the Annual Report on Form 20-F filed by Lavoro or in the future, including those under 'Risk Factors' therein, or Lavoro's other filings with the SEC. If any of these risks materialize or our assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that Lavoro currently believes are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect Lavoro's expectations, plans, or forecasts of future events and views as of the date of this press release. Lavoro anticipates that subsequent events and developments will cause Lavoro's assessments to change. However, while Lavoro may elect to update these forward-looking statements at some point in the future, Lavoro specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing Lavoro's assessments as of any date subsequent to the date of this press release. Accordingly, undue reliance should not be placed upon the forward-looking statements. Preliminary Information This document contains figures, financial metrics, statistics and other information that is preliminary and subject to change (the 'Preliminary Information'). The Preliminary Information has not been audited, reviewed, or compiled by any independent registered public accounting firm. This Preliminary Information is subject to ongoing review. Accordingly, no independent registered public accounting firm has expressed an opinion or any other form of assurance with respect to the Preliminary Information. During the course of finalizing such Preliminary Information, adjustments to such Preliminary Information presented herein may be identified, which may be material. Lavoro undertakes no obligation to update or revise the Preliminary Information set forth in this document as a result of new information, future events or otherwise, except as otherwise required by law. The Preliminary Information may differ from actual results. Therefore, you should not place undue reliance upon this Preliminary Information. The Preliminary Information is not a comprehensive statement of financial results, and should not be viewed as a substitute for full financial statements prepared in accordance with IFRS. In addition, the Preliminary Information is not necessarily indicative of the results to be achieved in any future period. Contact Julian Tigran Fernanda in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Bloomberg
2 days ago
- Business
- Bloomberg
Banco Master CEO Injects $364 Million, Easing Path to Takeover
Banco Master SA 's controlling shareholder agreed to inject 2 billion reais ($364 million) into the company in an effort to persuade regulators to approve a merger with Banco de Brasília SA, according to a person familiar with the matter. The capital increase by Chief Executive Officer Daniel Vorcaro is part of a plan negotiated between the companies and Brazil's central bank, the person said, asking not to be identified because the discussions are private.
