Monday, December 18, 2017

Petros sells 5.76% stake to shareholders of AmBev for R $4.52 bi

The Petros Pension Fund officials from Petrobras, concluded on Friday (15) sale of 5.76% stake in Itaúsa, Itaú Bank controller holding, for the Foundation Antonio Helena Zerrenner foundations. The operation was evaluated in R $4.5 billion.
Zerrenner foundations Foundation is one of the largest shareholders of Ambev brewery, with 10.2% of the common shares of the company. Founded in 1936, the Organization, with headquarters in São Paulo, provides philanthropic assistance free of charge in the areas of health, education and social assistance.
In a statement, the Executive Director of the Foundation, Edson De Marchi, said that the purchase of the slice of Itaúsa is part of a plan to diversify investments. "With that, the Foundation guarantees an income for costing of its perennial assistance statutory benefits," said De Marchi.
With the transaction, the Petros zeroed position in Itaúsa. The R $4.52 billion from the sale, which involved 15.27% of the voting capital of Itaúsa, Petros box. The transaction was made on offer on the brazilian stock exchange, the B3.
On Tuesday (12), Petros had announced the sale of 24.75% in FIP that corresponded to the slice of 8.53% of the pulp producer Eldorado Brazil.
The institution, second largest closed private pension fund in the country, was one of the most affected by the combination of failed investments and mismanagement in recent years, which led him to amass a billionaire hole in the accounts.
In September, the Fund announced a solving deficit R $27.7 billion, which will require additional disbursements of beneficiaries and Petrobras for 18 years.
The Fund's investment in itasa is one of the targets of investigation of internal Commission of Petros to investigate the decision-making process that led to the acquisition of the asset.
"There is a possibility of former leadership accountability processes in order to seek compensation and to defend the image of the institution, which is already underway with the support of law firm hired," said the Fund.
"The Stake sale is in line with our strategy to streamline the portfolio allocation dynamic front liabilities of the plan," said in a statement the President of Petros, Walter Mendes. "The volume of funds obtained from the sale will provide greater flexibility to seek investment opportunities most appropriate to the risk profile of the PSP, which is a mature plan, with a little investment portfolio appropriate for their actuarial commitments", explains the President of Petros, Walter Mendes, in a statement.
Already the Chief Investment Officer of Petros, Daniel Lima, said that "considering the volumes traded in the last month, the sale of this position without relevant impact on the stock price, given your low liquidity, would require about of 119 years for it to be completed".
Reuters - 15/12/2017 News Item translated automatically
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