São Paulo and Espírito Santo, October
22, 2014—IFC, a member of the World Bank Group and the IFC African,
Latin American, and Caribbean Fund announce an equity investment of 200
million Brazilian reais (about $87 million) in Vix Logística, company of
Águia Branca Group. IFC’s investment in this growing company will help
improve the country’s competitiveness by strengthening logistics services.
IFC’s investment will help Vix Logística continue to expand its operations
and logistics projects, providing high quality services to key sectors
such as mining, steel, oil and gas and automotive.
Brazilian industries face high logistics cost because of poor infrastructure
and quality of services. According to a World Economic Forum report, these
costs can reach as much as 18 percent of Brazil’s Gross Domestic Product.
Improving transport and logistics services will enhance productivity, strengthen
local markets and increase competitiveness of exports. These are crucial
elements for long-term economic growth and sustainable development.
IFC’s equity investment will total 150 million Brazilian reais, while
that of the IFC African, Latin American, and Caribbean (ALAC) Fund will
be 50 million Brazilian reais. The IFC ALAC Fund is managed by IFC Asset
Management Company, a wholly owned subsidiary of IFC.
“Vix has been growing organically about 18 percent per year in the last
five years”, said Kaumer Chieppe, Vix’s CEO. “With IFC’s capitalization
we will haves additional strength to continue our expansion plan.”
Gabriel Goldschmidt, IFC Head for Infrastructure in Latin America and the
Caribbean, said: “We are pleased to invest in Vix Logística’s expansion
plan to help develop Brazil's logistics sector, which is instrumental for
improving the country’s competitiveness. Investing in infrastructure is
a key element for the country’s long-term sustainable growth and a top
priority for IFC in Brazil."
Sujoy Bose, Head of the IFC ALAC Fund, said: "Vix Logística has established
a solid position as an integrated logistic provider in a growing market
in Brazil. With its proven and effective capacity to provide enterprises
with solutions that make them more competitive, Vix Logística is well positioned
to address the pressing need for competitiveness in the Brazilian industrial
sector. We look forward to our partnership with the company's management
IFC has been investing about $ 2 billion per year in Brazil to help address
the country’s most urgent development challenges, including those of urbanization,
social inclusion, competitiveness and productivity, as well as management
of natural resources.
About Vix Logística
Headquartered in Espírito Santo, Vix Logística is an integrated logistics
services provider supporting the supply chain logistics of key natural
resources and industrial sectors, working with four business lines: charter
services, automotive logistics, fleet services and dedicated logistics.
Operating since 1971, Vix Logística is present in about 80 locations in
Brazil and employs over 8500 people.
IFC, a member of the World Bank Group, is the largest global development
institution focused exclusively on the private sector. Working with private
enterprises in about 100 countries, we use our capital, expertise, and
influence to help eliminate extreme poverty and boost shared prosperity.
In FY14, we provided more than $22 billion in financing to improve lives
in developing countries and tackle the most urgent challenges of development.
For more information, visit www.ifc.org
About IFC Asset Management Company
IFC Asset Management Company LLC, a wholly-owned subsidiary of IFC, invests
third-party capital, enabling outside investors to benefit from IFC’s
expertise in achieving strong equity returns, as well as positive development
impact in the countries in which it invests. It manages $6.3 billion of
capital across six investment funds. For more information, visit www.ifcamc.org
About the IFC African, Latin American and Caribbean Fund
The IFC African, Latin American, and Caribbean (ALAC) Fund is a $1 billion
investment fund that invests along with IFC in equity investments in Sub-Saharan
Africa, Latin America, and the Caribbean. It provides long-term growth
capital for private enterprises in these regions.