Brazilian billionaire to invest in Portugal

 In Companies, Entrepreneur, News

Brazilian tycoon Rubens Menin, founder of MRV Engineering and bank Inter, and owner of CNN Brazil, has asked the Bank of Portugal for authorisation to bring an e-commerce platform and financial products to Portugal.

Menin, who is 28th on Forbes list of richest men in Brazil, has already invested €40 million in producing wines in the Douro after he bought a vineyard estate in Gouvinhas (Sabrosa) and Horta Osório Wines from the family that holds EIP – Electrcidade Industrial Portuguesa.
According to ECO, the entrepreneur from Belo Horizonte, aged 66, said he would bring Inter Shop to Portugal – a marketplace that combines online commerce and financial products and which has 25 million users in Brazil and which has also been launched in the US.
Rubens Menin, founder of MRV Engenharia, one of the largest housing developers in Brazil, and a key sponsor in football club Clube Atlético Mineiro, has an estimated worth of €1,2Bn.
He told ECO, “We have a licensing application going through the Bank of Portugal to set up an institution — it’s not quite a bank, but financial services and it is here in Portugal that we will base our European operation”.