Brazil: Lotex auction delayed for the fifth time
The committee in charge of conducting the licensing hearing of Caixa Econômica Federal's Loteria Instantânea Exclusiva (Lotex) has postponed the date once more, which has been now scheduled for May 9.
According to the National Bank for Economic and Social Development (BNDES in Portuguese), responsible for the bidding process, a new date was set to give bidders more time to clear up doubts and deliver the bids and relevant documents to take part in the auction.
Applicants will now have until May 6 to submit bids. Two days after that date, the committee will announce the names of those bidders who are fit to participate in the licensing hearing, which will take place the following day in Sao Paulo.
As reported by the Brazilian journal Globo, at the first auction, which should have taken place in June 2018, the government proposed a starting bid of BRL 1 B (USD 253.16 M). However, due to adjustments and subsequent delays, the starting bid amount was reduced to around BRL 640 M (USD 162.024 M).
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