In a brazilian game event called GameWorld 2012, in Sao Paulo, the director of Ubisoft Brasil, Bertrand Chaverot, confirmed that the sequel is set to be released later this year, will have portuguese subtitles and will cost R$ 129 (converting it would be around 70 USD). That would be R$ 30 (16 USD) more expensive than the first game (they published it here at R$ 99, which should be 54 USD, cheaper than the NA price of the game, 59 USD that is).
Earlier today, the same person said that Ubisoft Brasil would be investing R$ 500.000 (275 grand) on the Assassin's Creed III full localization (that is, portuguese-brazilian dubs and subs).