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Unidas, Ouro Verde plan expansion in Brazil

 Unidas, Ouro Verde plan expansion in Brazil

Brazilian vehicle leasing and fleet management companies Unidas and Ouro Verde are preparing expansion plans in Latin America’s largest vehicle market.

While the board of directors of Unidas has approved the issuance of 1 billion reais (US$210mn) in non-convertible bonds in two series, Brookfield – the parent company of Ouro Verde – has announced that it is injecting US$35mn into the company to expand its business in the Brazilian market.

Both are among the top five largest fleet management and vehicle leasing companies in Brazil. The country is home to approximately 70mn cars and light commercial vehicles (LCV). Some 15% of them (11mn vehicles) are corporate. 

Authored by: Daniel Bland