Caixa Raises R$ 7.3 Billion With Sale of Petrobras Shares

Written by Paulo Nogueira

Published on 26/06/2019 at 16:33

Updated on 26/06/2019 at 19:06

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Decision to Divest Petrobras Shares, According to the Public Bank, Reflects a Strategy to Reduce Dependence on National Treasury Resources

The Federal Savings Bank raised R$ 7.3 billion with the sale of 241.3 million ordinary shares of Petrobras, two sources with knowledge of the matter stated this Tuesday, June 25. The shares were priced at R$ 30.25, with a 1.5% discount on the closing price today of R$ 30.70.

The decision to divest shares of the state company reflects both Caixa’s strategy to reduce its dependence on National Treasury resources and pressure from the Ministry of Economy for public banks to start repaying the funds received, which amount to R$ 40 billion in the case of Caixa.

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Petrobras Will Pay R$ 7.5 Billion to the Municipality of Itaboraí for Suspending Comperj Works

Petrobras is expected to finalize, by September of this year, a Conduct Adjustment Term (TAC) to compensate the municipality of Itaboraí for the damage caused by the suspension of the works of the Rio de Janeiro Petrochemical Complex (Comperj) in 2015.

The agreement, which is expected to be approximately R$ 7.5 billion, was announced in a public hearing held this Monday, June 24, by the Parliamentary Inquiry Commission (CPI) installed in the Legislative Assembly of the State of Rio de Janeiro (Alerj) to investigate the fiscal crisis in the state.

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Caixa Raises R$ 7.3 Billion With Sale of Petrobras Shares

Decision to Divest Petrobras Shares, According to the Public Bank, Reflects a Strategy to Reduce Dependence on National Treasury Resources

Petrobras Will Pay R$ 7.5 Billion to the Municipality of Itaboraí for Suspending Comperj Works

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Caixa Raises R$ 7.3 Billion With Sale of Petrobras Shares

Decision to Divest Petrobras Shares, According to the Public Bank, Reflects a Strategy to Reduce Dependence on National Treasury Resources

Petrobras Will Pay R$ 7.5 Billion to the Municipality of Itaboraí for Suspending Comperj Works

Seen from space, an image taken by an astronaut shows an unlikely oasis in the Saudi Arabian desert, protected by a terrain that slows the advance of sand, surrounded by green circles, remnants of an extinct lake and nearly 10,000 years of preserved history.

While the U.S. still faces limitations in deep space, China is developing unprecedented technology with strategic satellites that maintain communication with the far side of the Moon and aims for dominance by 2030.

In Botswana, a salt flat of up to 16,000 km² that was once an African megalake spends months as an absolute white desert, but during the rainy season it transforms into a shallow sea that reappears from nowhere and can be seen from space in the middle of southern Africa.

The Blood Falls of Antarctica hide a living ecosystem trapped under the ice for over 2 million years, where microbes survive without light, without oxygen, and without ever having seen the Sun.

Bavarian archaeologists unearthed a medieval skeleton that had an articulated iron hand in place of its left arm, and the discovery reveals that doctors were already creating sophisticated prosthetics over 500 years ago.

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The rise in oil prices puts Brazil in a strategic advantage and projects a trade surplus of US$ 90 billion, boosting exports and creating a highly favorable and unexpected economic scenario.