BNDES BECOMES ‘PARTNER’ OF MESBLA AND OTHER COMPANIES THAT NO LONGER EXIST

The strategy of the National Bank for Economic and Social Development (BNDES) of selling shares in large companies that it held in its portfolio is a mantra of the current management, which began in July 2019. Since then, approximately R$ 70 billion have been sold, with highlight for billionaire operations involving Petrobras and Vale shares. In 2020, however, the bank also became a shareholder in inoperative companies, undergoing judicial recovery or bankrupt, such as Mesbla, Motoradio and Piramides Brasília.

Mesbla was a strong retail brand until the 1990s, when it went bankrupt. Motoradio was a traditional manufacturer of sound equipment for automobiles in the 1970s and 1980s. Pirâmides Brasília, a manufacturer of foam for mattresses (with the Pira Spuma brand), was active until the 1970s. Even inoperative, a company can to continue formally existing, for example, as a bankruptcy estate – and therefore to have shares.