President Jair Bolsonaro Already discussing with the congressional summit how to make the idea of privatization Petrobras. The government has admitted that the operation has “entered the radar” but is difficult to implement, and the plan under analysis is to prepare a bill allowing the union to begin disposing of the company’s shares in order to lose control.
However, the government will keep the so-called “golden stake”, which will allow it to veto some of the oil company’s operations and also appoint the head of the company. Today, the federal government controls 50.5% of the common stock, which is shares with voting rights.
Given the total share capital of the company (common and preferred shares), the control group consists of the government and border which together own 36.75% of the shares.
The economic team supports Petrobras moving to Novo Mercado, bridging the gap between common and preferred stock. In the evaluation of Paulo Guedes’ team, this will indeed raise the value of the shares, which will value the company.
The government will then start selling shares for shares currently owned by BNDES and BNDESPAR. The goal will be to transform Petrobras intoa company”, with milled capital, as planned for Eletrobras. One difference is that in the case of an oil company, the union alone can own more than 10% of the shares.
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