Belo Horizonte - The latest episode of the new market of cheese bread - a typical Brazilian cheese bun - promises to heat up the dispute in 1998, between the sector's two large companies, Forno de Minas and Sao Geraldo, both located in the state of Minas Gerais. By selling 51% of its capital to the Lorenz foodstuffs company, located in Blumenau, in the state of Santa Catarina, the second placed Sao Geraldo wants to begin its internationalization and increase its capital for new expansion in the domestic market. 'We are preparing to take over leadership and face globalization,' said the president of the company, Andre Luiz de Avila Martins. According to him, the sale of his company's control to Lorenz will be concluded on March 31 with a share purchase, through the simple capital increase of Sao Geraldo. The values of the agreement are expected to be announced today by Martins and by the director of market relations of Lorenz, Arthur Yuwao Uenoyama.
(Sale of Sao Geraldo heats fight for cheese bread marketshare. Gazeta Mercantil, 01/08/98. Silvio Ribas, Andrea Leonora collaborated)
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