Brazil is the next world superpower,

says billionaire.
North-american Sam Zell, from Equity International, is in Brazil till
Tomorrow in search of new business opportunities

Written by Cristina Fibe / Translated by Marcos Pessanha

North-american billionaire Sam Zell, 68, is in Brazil today and tomorrow, to expand
the investments of the Equity International group in the country that he considers to be
the next “world’s superpower”.

“How much we are to invest depends on the opportunities. So far none has been
greater than our appetite for capital”, said Zell to Folha, on the phone, from Chicago.

His private equity group has stakes in five Brazilian companies, among which are
Gafisa and BR Malls which has 35 shopping centes in its portfolio currently.

An enthusiast of Brazil, Zell assigns the recognition of the country as “one of the most
appealing opportunities in the world” to President Lula. The North-American businessman
minimizes the risk of a superheated Brazilian economy. “The country is doing
very well. I would rather invest in a too hot country than in a cold country”, he said.

“We started studying Brazil 12 years ago. Since then the country’s fiscal stability
has been recognized by foreign countries.”, he praised.

“Brazil has raised the interest rates earlier than others, avoiding the hyperinflation that
haunted the country in the past.” In his view, “Brazil has always been seen as a country
with huge resources and opportunities but, in the past, did not know how to take
advantage of them.”

“In the last eight, nine years, there has been a new level of discipline, which makes
Brazil one of the most appealing opportunities for investments in the world. President
Lula focused on growth while keeping the fiscal discipline, to avoid hyperinflation.”

Zell says he believes that today “there are fewer hurdles to invest in the country”.
“Brazil is growing into a developed country.”

Source: daily Brazilian Folha de São Paulo, on 23/06/2010