Bancolombia, Cosan, MRV, Penoles, Sadia: Latin Equity Preview

Dec. 2 (Bloomberg) -- The following companies may have unusual price changes today in Latin America trading. Stock symbols are in parentheses and share prices reflect the previous close.

The MSCI Latin America Index fell 7.6 percent yesterday to 1,874.1.

Brazil

Banco Sofisa SA (SFSA4 BS): The bank controlled by Brazil’s Burmain family may buy back up to 6 percent of outstanding shares during the next year, Sofisa said yesterday. The board approved the repurchase of as many as 2.25 million preferred shares. Sofisa fell 4 percent to 3.65 reais.

Cosan SA Industria e Comercio (CSAN3 BS): The world’s biggest sugar-cane processor said it will pay $715 million to acquire Exxon Mobil Corp.’s Brazilian service stations and other fuel-distribution assets. Cosan will also take over $175 million in debt held by Esso Brasileira de Petroleo Ltda as part of the previously announced deal, it said in a regulatory filing. Cosan fell 9.8 percent to 10.10 reais.

JBS SA (JBSS3 BS) and Minerva SA (BEEF3 BS): Slowing beef exports and tight cattle supply because of the global credit crisis led JBS to put workers at three of its 23 plants on paid leave in October, while Minerva also sent workers on early vacation, Valor reported. JBS fell 7.5 percent to 4.67 reais. Minerva slipped 1 percent to 2 reais.

MRV Engenharia e Participacoes SA (MRVE3 BS): The builder of homes for low-income families said it plans to buy back as many as 7 million common shares after the stock dropped 79 percent this year. MRV intends to repurchase up to 9.3 percent of its outstanding stock over the next 365 days, the company said in a regulatory filing. MRV fell 11 percent to 8 reais.

Sadia SA (SDIA4 BS): The food company that reported a third- quarter loss on currency derivative contracts said in a regulatory filing the potential loss from dollar contracts was reduced to $966 million from $2.36 billion at the end of September. Sadia fell 8.2 percent to 3.03 reais.

Colombia

Bancolombia SA (BCOLO CB): Colombia’s biggest lender said it sold a 67 percent stake in a property in Cartagena to CMB SA for the equivalent of $9.7 million. Separately, Bancolombia said it sold $36.1 million in mortgage loans to Titularizadora Colombiana SA, which will sell securities backed by the mortgages. Bancolombia fell 2.4 percent to 11,620 pesos.

Mexico

Industrias Penoles SAB (PE&OLES* MM): Frensillo Plc, the silver unit of Penoles, said it will acquire the shares of Canadian mining company Mag Silver it doesn’t already own. A Fresnillo unit will offer $4.54 a share for the remaining 80.2 percent of Mag Silver. Penoles fell 13 percent to 100.73 pesos.