Novo mapa dos negócios
— A crise fez as companhias se preocuparem mais em serem produtivas e grandes para ganharem mercado. Os números refletem isso: em linhas gerais, as empresas estão bem maiores em faturamento e em lucratividade. E por isso estão mais capazes de lidar com adversidades — afirma o sócio da área de fusões e aquisições da PwC Andre Castello Branco.O GLOBO encerra hoje uma série de reportagens sobre os cinco anos da quebra do banco Lehman Brothers, considerado o estopim da crise financeira global iniciada em 2008.Aquisições no exteriorAs empresas brasileiras se tornaram mais robustas não apenas nos números. Segundo Castello Branco, da PwC, houve mudanças na governança corporativa e na gestão das empresas. Um dos principais cuidados é evitar que os riscos financeiros afetem as operações. Antes da crise, não eram poucas as empresas que, para driblar os juros altos, buscavam ganhos no sempre rentável mercado financeiro. Entre as exportadoras, muitas faziam contratos de hedge ou Adiantamento de Operação de Câmbio (ACC) para se financiar lá fora a custo mais baixo e, até mesmo, financiar terceiros. As maiores perdas com operações de câmbio foram Sadia (R$ 2,5 bilhões) e Aracruz (R$ 4,646 bilhões).Desde 2008, outro fenômeno que se viu no mapa corporativo foi o crescimento e a internacionalização de empresas brasileiras, embaladas pelas oportunidades geradas pela crise. E esse movimento foi muitas vezes fomentado pelo BNDES, com a política que ficou conhecida como “a escolha de campeões nacionais”.— A crise afetou muito os mercados americano e europeu, que passaram a ser alvo de empresas brasileiras fortes. E o BNDES ajudou no fomento ao crescimento das empresas, com a ideia de formação de vencedores — diz Castello Branco.A lista de novas companhias é extensa. Os exemplos mais emblemáticos são Fibria e BRF, duas operações que tiveram origem nas perdas cambiais de Aracruz e Sadia. A lista, no entanto, é muito maior e inclui Braskem (que comprou a Quattor em 2010) e Itaú Unibanco, criado em novembro...
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