The president of BNDES, Aloisio Mercadante, said on Friday night, the 22nd, that the development bank is “recycling” its share portfolio, with the exit of shares from consolidated companies and the entry of shares from innovative companies. He stressed that, since joining the development institution, in 2023, the share portfolio has recorded a gain of R$80 billion, between the appreciation of shares and dividends.
In May, BNDES began a process of selling part of its shareholding in Petrobras and Axia Energia, according to the agency Reuters. According to a source, BNDESPar has sold, so far this month alone, around R$3 billion in Petrobras shares and more than R$500 million in Axia shares. The bank would also have sold R$280 million in Copel shares, totaling R$1.2 billion this year in sales of shares from the Paraná energy company.
“We are recycling our wallet, leaving consolidated, solid companies, to be able to invest in innovative projects of the future, mainly decarbonization, green economy, energy transition and innovation”, said Mercadante after participating in the inauguration of doctor Roberto Kalil Filho as a member of the National Academy of Medicine, in the center of Rio.
The event was attended by President Luiz Inácio Lula da Silva, Vice President Geraldo Alckmin and Minister Alexandre de Moraes, of the Federal Supreme Court (STF).
In relation to Petrobras, the executive highlighted that the company is on a very promising path, even more so with the prospects of the Equatorial Margin. He also said that the oil company “had a huge jump in market value” and “had the best result of all the oil companies in the world and became the most valued company on the stock exchange in Latin America”. However, he emphasized, BNDES is a development bank.
“Our role is to generate new opportunities, innovative projects for the future. So, we are entering artificial intelligence, digital transition, biofuels – which is another fundamental thing for the planet and for the Brazilian economy”, said Mercadante. “We have this whole hybrid mobility route – ethanol, gasoline and electric cars. We are financing the R&D of many companies,” he said, citing Embraer’s flying car.
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According to the president of BNDES, it was verified in 2023 that that time was not suitable for the sale of shares. “What we received from dividends and share appreciation gave a spectacular gain to the total portfolio. This allows us to recycle the portfolio with an extraordinary gain.”
When contacted by the report, BNDES said, in a note, that through its subsidiary BNDESPAR, it permanently examines investment and divestment opportunities in its portfolio. “In this context, BNDES maintains its strategy of divestment of mature assets, always seeking to optimize and diversify its portfolio”, reinforced the note.
“The resources will boost BNDES’ investments in new challenges for the country, such as innovation, critical minerals, digital transition, artificial intelligence, health, bio-inputs for agriculture and biofuels”, concluded the development bank.
