Agrenco, BM&F, Tractebel Energia, Walmex: Latin Equity Preview

By William Freebairn and Paulo Winterstein

July 10 (Bloomberg) -- The following stocks may have significant gains or losses in Latin American markets. Symbols are in parentheses after company names, and stock prices are from the last session.

The MSCI index of Latin American shares fell 0.3 percent to 4,359.75 yesterday. Markets in Argentina and Brazil were closed yesterday for holidays.

Brazil

Agrenco Ltd. (AGEN11 BS): Noble do Brasil Ltda., the Brazilian unit of the third-largest U.S. offshore oil driller, is seeking to buy a stake in Brazilian agriculture company Agrenco on terms ``substantially equivalent'' to Louis Dreyfus & Cie.'s June 25 offer, Agrenco said yesterday in a Brazil regulatory filing. Closely held commodities trader Louis Dreyfus agreed to buy at least $33.5 million in a sale of 77.4 million or more new shares. Noble's offer is valid for seven days and includes payment to cover fines that would result from Agrenco deciding to not sell a stake to Louis Dreyfus, Agrenco said in the filing. Agrenco fell 0.7 percent to 1.40 reais.

Bovespa Holding SA (BOVH3 BS) and Bolsa de Mercadorias & Futuros-BM&F SA (BMEF3 BS): The merger between the operator of Latin America's largest stock and derivatives exchanges, respectively, was approved by regulators without restrictions, Reuters reported yesterday. Bovespa advanced 4.9 percent to 20 reais. BM&F rose 3.6 percent to 13.97 reais.

Tractebel Energia SA (TBLE3 BS): The Brazilian power generator controlled by Suez SA agreed to buy hydropower companies Tupan Energia Eletrica SA and Hidropower Energia SA for 203.9 million reais ($126.7 million) and will assume 110 million reais of the companies' debt. Tupan operates a 26.6 megawatt hydroelectric dam, and Hidropower runs a 23.7 megawatt dam, Tractebel said in a filing posted yesterday on Brazil's securities regulator Web site. Tractebel fell 1.5 percent to 22.60 reais.

Mexico

Wal-Mart de Mexico SAB (WALMEXV MM): Mexico's largest retailer said second-quarter net income rose 9 percent to 3.23 billion pesos ($313.5 million), more than the 3.19 billion peso average of five analyst estimates compiled by Bloomberg. Revenue increased 12 percent to 57.2 billion pesos, the company said in a statement e-mailed yesterday after markets closed. Walmex, as the company is known, fell 1 percent to 40.78 pesos.

To contact the reporters on this story: William Freebairn in Mexico City at wfreebairn@bloomberg.net; Paulo Winterstein in Sao Paulo at pwinterstein@bloomberg.net