Billionaire Cisneros to Team Up With Chinese in Latin America Oil, Gold

June 17, 2011 § Leave a comment

Venezuelan billionaire Gustavo Cisneros is setting up joint ventures with Chinese banks to carry out investment in Latin American commodities industries.

“You’ll probably see in the next year or two a lot of Cisneros China or China Cisneros in Latin America and it’s going to be whatever comes, whether it’s oil, gold or big cattle operations,” Cisneros, 66, said yesterday in an interview at Bloomberg’s headquarters in New York. “They understand they don’t have the knowledge to run these businesses. They need results now and we can provide results.”

Both Cisneros and his daughter Adriana are optimistic about the outlook for their business in Latin America.

“We have the best decade of Latin America ahead of us, of course this or that happening, but the numbers objectively,” Cisneros said before being interrupted by his daughter.

“It’s our decade,” she said.

“It’s going to be fantastic,” Cisneros continued. “Any way you look at it, politically, economically, culturally, Latin America has come into its own.”

The chairman of Cisneros Group of Companies, who is relinquishing operations of the firm to his youngest daughter Adriana, said he aims to push through projects that have been delayed by state inefficiencies through partnerships in energy, agriculture and metals. Deals may take place in countries including Brazil, Colombia, Mexico and Panama, Cisneros said.

Source: Bloomberg

What benefits for China and Latin America do you see as a consequence of this new partnership?







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