LOS ANGELES - (Business Wire) WorldVest, Inc. (OTCBB: WOVT), a global merchant bank (“WorldVest”), announced today the incorporation of a wholly owned Brazilian operating subsidiary, WorldVest Brasil, Ltda., which will immediately assume all current WorldVest Merchant Banking and Finance initiatives within Brazil. With the recent announcement of Rio de Jianero as the home of the 2016 Olympics, combined with the country’s proven economic resiliency in the face of the global recession, WorldVest sees a significant opportunity to participate in Brazil’s growth over the next decade and beyond. Brazil’s Finance Minister, Guido Mantega, predicted that the hosting of the 2016 Olympics will spur economic growth in the coming years, saying, “It caught me by surprise and we still have to do the math. But just like the pre-salt [oil discovery] which will add 1 to 2 percent to gross domestic product in the coming years, the Olympics and World Cup will each add 1 percent. It won’t be long before we’re growing too much.”
WorldVest CEO and Chairman, Garrett K. Krause applauded the Company’s progress in Brazil saying, “With recent events such as the Olympic announcement and the $8 billion USD Banco Santander Brasil IPO, which remains both the largest IPO of 2009 worldwide and Brazil’s largest IPO in history, we are confident WorldVest is in the right place at the right time. These events serve to underscore the tremendous Banking & Finance opportunities that exist in Brazil. We are extremely pleased with the progress we have made since announcing our initial business opportunities in this market and look to Brazil to play a central role in the continued growth of WorldVest as a premier Global Merchant Bank.”
Current plans are to immediately open the initial WorldVest Brasil offices in Sao Paulo, Brazil and subsequently hire senior Brazilian executives to fill key roles managing operations and working closely with WorldVest executives in the US to execute on the ongoing Brazilian merchant banking initiatives. Among the most exciting and opportune of these initiatives is that of entering the retail consumer finance and credit card markets which have historically provided above average rates of return to those able to gain access to Brazilian retailers. As announced on August 12, 2009, WorldVest signed a strategic financial partnership with its first retail lending client while identifying a number of potential follow on lending targets, which are equally attractive and represent a significant opportunity for WorldVest and its shareholders.
About WorldVest, Inc.
WorldVest is a global merchant bank that offers not only traditional investment banking, asset management and advisory services, but also makes direct investments as a principal in select high-growth transactions on a global basis. Recognizing the disconnect that exists between the needs of companies and the limitations of traditional investment banking, private equity, and venture capital institutions, WorldVest seeks to set a new standard, emerging as a partner and solution provider where one did not previously exist.
For more information about WorldVest, Inc. please refer to the company's website at www.WorldVestGroup.com.
Forward Looking Statements:
Certain statements in this release and other written or oral statements made by or on behalf of the Company are "forward looking statements" within the meaning of the federal securities laws. Statements regarding future events and developments and our future performance, as well as management's expectations, beliefs, plans, estimates or projections relating to the future are forward-looking statements within the meaning of these laws. The forward looking statements are subject to a number of risks and uncertainties including market acceptance of the Company's services and projects and the Company's continued access to capital and other risks and uncertainties outlined in its filings with the Securities and Exchange Commission, which are incorporated herein by reference. The actual results the Company achieves may differ materially from any forward-looking statements due to such risks and uncertainties. These statements are based on our current expectations and speak only as of the date of such statements.
Investor Relations / Media:
WorldVest, Inc.
Michael Carney
Tel. (310) 277-1513
Fax. (310) 919-3116
Michael@WorldVestGroup.com
