Decision on the Right in the Transaction of Divestiture of a Portion of Petrobras Distribuidora

Source: www.gulfoilandgas.com 8/24/2016, Location: South America

Petrobras announces that the Collegiate of the Brazilian Securities and Exchange Commission (CVM) disclosed today its decision, delivered at its meeting held on August 16, 2016, confirming the Company's understanding regarding the inapplicability of Article 253 of the Brazilian Corporations law, which deals with the preemptive right for the Company's shareholders in the event of sale of the shares of a wholly-owned subsidiary, in the transaction of divestiture of a portion of BR's shares.

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Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 


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