B: China, Brazil strike deal to ditch dollar for trade
BARRON’S reports: China and Brazil have reached a deal to trade in their own currencies, ditching ...
By Alex Lennane
Modern Logistics, a freighter-operating Brazilian “integrated logistics” company, is looking for $200m in investments so it can expand. The company, which has four ageing 737 freighters, hired Evercore investment bank last year to find new investors to support its plan to buy more aircraft and build new distribution centres.
Based in São Paulo state, the company offers storage, air and land transport and distribution. It has a good pedigree: chief executive Gerald Lee (pictured) helped found Azul and was a vice president at JetBlue. He has also been an undercover detective.
Modern is currently backed by private equity firm DXA Investments, which has put in $50m. Modern claims to have some 100 customers, including Harley-Davidson and medical device maker Boston Scientic Corp.
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