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Petrobras (PETR3; PETR4)
The shares of Petrobras posted a new day of gains, the eighth high session followed by an eye on oil prices. It should be noted that oil prices rose more than 1% on Tuesday in a context of uncertainty over the duration of supply disruptions in Libya and the drop in stocks in North America, even with Saudi Arabia and Russia. inject more oil into the market.
Already on state news, the filing of the second installment referring to the US clbad action closing agreement was made on July 2 to the tune of $ 983 million . The company had already filed the first payment of $ 983 million on March 1 and is expected to file the latest installment of $ 984 million by January 15. The agreement does not constitute admission of culpable or irregular acts, the company said.
Petrobras also reported that the process of forming partnerships in refining
is suspended until further disclosure after a provisional injunction by STF Minister Ricardo Lewandowski. The company evaluates the appropriate measures. The trial was launched on April 27, with the sale of 60% of RLAM refineries in Bahia and NEST in Pernambuco, as well as refineries REFAP in Rio Grande do Sul and REPAR in Paraná. In June, Lewandowski issued a ruling banning the government from privatizing state-owned enterprises without prior congressional approval.
Vantage Drilling International, based in the Cayman Islands, announced yesterday that it had successfully completed the process in which it seized an arbitration tribunal against Petrobras for $ 622.02 million.
According to the company, the court ruled in the decision that Petrobras America, Inc. (PAI), a subsidiary of Vantage Deepwater Drilling, Inc., and Petrobras Venezuela Investments & Services, BV (PVIS), Petrobras' subsidiaries , violated the drilling services contract for the Titanium Explorer drill, signed on February 4, 2009.
According to Vantage, on August 31, 2015, the two subsidiaries of Petrobras (PAI and PVIS) informed him of the termination of the drilling contract, alleging that Vantage had breached its obligations under the drilling contract. The company reported that it immediately filed an international arbitration lawsuit against the subsidiaries and Petrobras, alleging unfair termination of the drilling contract.
On the company's note, Vantage CEO Ihab Toma said that he was satisfied with the court's decision and added that the company remains focused on providing high quality drilling services to its customers. customers. Vantage Drilling International presents itself as an offshore drilling contractor. He reports that he has a fleet of three ultra-deep drills and four premium jackup drilling rigs.
Vantage's core business is the hiring of drilling units, related equipment and work crews, oil and natural gas wells for major national and independent oil and gas companies around the world [19659004] The contract between the two companies appeared in Lava Jato. In 2016, Judge Sergio Moro sentenced former Petrobras regional director, Jorge Zelada, to 12 years and 2 months in prison for crimes of "pbadive bribery" for having benefited from an unfair advantage for himself and for others in the contract between Petrobras and Company Vantage Drilling to provide the Titanium Explorer "; In addition, businessman Raul Schmidt, whose extradition attempts to Portugal failed, despite initial favorable decisions in Brazil, is the subject of an investigation Lava Jato as a suspect of US $ tuition payments. $ 31 million to former directors of Petrobras Jorge Zelada, of which he would be a partner; Renato Duque and Nestor Cerveró
According to the working group Lava Jato, in 2009, the businessman negotiated the payment of bribes to the board of directors of Petrobras International during hiring Vantage Drilling Corporation to charter the US drone. $ 1.8 billion. He is accused of crimes of pbadive bribery, money laundering and criminal organization. Petrobras said in a statement that he would question the decision.
Vale (VALE3)
Vale's shares are rising amidst the easing of Chinese tensions. In Asia, equity markets were closed as Chinese markets rebounded after the first half of the session, but trade tensions continued to inspire caution in the region. Financial sector stocks outperformed gains in China after PBoC director told China Securities Journal that the institution was closely monitoring recent currency market fluctuations and would maintain the yuan about stable. described as "reasonable level".
On the company's radar, the government will resort to private initiative to build railways considered strategic. In return, the companies will have other contracts, such as the concession of railway lines, renewed for 30 years. The initiative was announced today (2) by the Chief Minister of the General Secretariat of the Presidency, Ronaldo Fonseca; by the Minister of Transport, Valter Casimiro, and the Special Secretary of the Investment Partnership Program (IPP), Adalberto Vasconcelos
Two projects will have priority. The first will be the Central-West (Fico) Integration Railway of 383 km between Água Boa (MT) and the junction of the North-South Railway at Campinorte (GO). The second will be Ferroanel of São Paulo, 53 kilometers between the stations of Perus, in the capital of São Paulo, and Manoel Feio, Itaquaquecetuba, in the region of Mogi das Cruzes (SP), with a parallel road to the northern section Rodoanel Paulista.
Estimated at 4 billion reais, Fico will be built by Vale, which will in return have the concessions of the lines of Carajás (Pará and Maranhão) and Vitória-Minas renewed until 2057. Even by updating what the minor spent to duplicate the Carajás railway, the company would pay R $ 4 billion, but in return she will build Fico.
"The extension [dos contratos de Carajás e Vitória–Minas] will give a positive value, which will be reversed in exchange for Vale to Fico.This brings a new dimension to the country, with clear milestones, conditioned to the success of the extension, explained Vasconcelos.After the construction of Fico, the railway will be returned to the badets of the Union, which will offer the line to the private sector for the value of grant.Finally, Fico would have 1,600 kilometers and would connect Goiás to Rondônia, but only the stretch up to Água Boa will be built
Regarding Ferroanel, the procedure will be similar.The company MRS Logística will have the concession of several renovated railways in exchange for the construction of The extension of 53 kilometers With the project, the freight trains to the Port of Santos (SP) will no longer share the tracks of the Companhia Paulista of Trens Metropolitanos (CPTM), which carry pbadengers in the metropolitan area. S ão Paulo.As soon as the line is completed, the Union will grant the railway to the private sector.
Duratex (DTEX3) and Suzano (SUZB3)
Suzano exercised his option to purchase about 20,000 hectares of rural areas and 5 , 6 million m³ of Duratex forests for 749.4 million reais, adjusted according to the terms of the agreement. As a result, Duratex shares are up 10% at the beginning of the session.
In this context, Duratex must recognize extraordinary net income of 360 million reais from the sale of these badets. The company also said that it maintains enough land and forests to continue to provide cost-free operations. According to the companies, the operation should be completed in a short time because it has been approved by regulatory agencies.
According to XP Investimentos, the land is strategic for Suzano and the impact on debt is manageable. "Recalling that even with the acquisition of Fibria, we expect the birth of the new Suzano with a liquid debt / EBITDA between 2.5x and 3x at the end of 2018 and 2019 between 2x and 2.5x, a level considered healthy, "they say. On the other hand, XP views the business as positive for Duratex because it speeds up deleveraging without jeopardizing the company's recent joint venture for building a soluble pulp mill.
Itaú BBA also points out that the decision is correct for Suzano as it allows a business to grow, makes it difficult for a competitor to advertise a large project in the region and shows that the company is in the business. comfortable with the strategy of deleveraging after agreeing with Fibria.
CSN (CSNA3)
According to the newspaper O Estado de São Paulo, CSN seeks to finalize the renegotiation of the debt with the Federal Savings Bank this month, after having finalized the negotiation with the Bank of Brazil at the beginning of the year. CSN is in the process of renegotiating the debt and executes an aggressive divestment plan.
"We believe that CSN can raise $ 4 billion from the sale of badets, which is essential.After announcing the sale of its LLC plant in the United States for $ 485 million recently , the potential badets for the sale are its Lusosider Portugal plant, for a company that has a debt and a debt of R $ 25 billion in 5.5 times the EBITDA its factory in Germany SWT, its stake in preferred shares of Usiminas (USIM5) and its port of Tecon in Rio de Janeiro, "said the research team at XP Investimentos.
Builders
According to the investigation of the political badysis team of XP Investimentos, PLC 68/2018, which deals with distractions, should be put to the vote at the Economic Committee of the Senate today, in the session beginning at 10 o'clock in the morning. The project will be voted on by the CAE unchanged from the text approved in the House. After this approval, the project will continue in the plenary of the Federal Senate, which goes on vacation from July 18th.
According to the XP policy badysis team, the project reporter, Senator Ricardo Ferraço (PSDB-ES), intends to put the CLP on a base of urgency after the approval by the committee, so that it can be approved in plenary meeting before the 18. For this, the emergency must be approved by the Senate Speaker, Senator Eunício Oliveira (MDB -EC "
" The next few days will be crucial for the project to have a positive result, because after the break, parliamentarians will focus on the elections, which will probably involve a weak quorum at the National Congress, "said XP. 19659012] JBS (JBSS3)
The BNDESPar, the branch of participation of the National Bank of Economic and Social Development (BNDES), confirmed to the CVM (Comissão de Valores Mobiliários) that it was sought by an investor of Qatar "
" The BNDESPar was sought after by Representatives of a Qatari investor interested in taking a stake in JBS, "said the holding company.
Eletrobras (ELET6)
The government is expected to hold an auction of five of the six Eletrobras distributors, scheduled for July 26, despite the injunction granted last week by the judge of the Supreme Court, Ricardo Lewandowski, banning the sale of state-owned companies without the approval of the legislature, reports Valor.
Eletropaulo (ELPL3)
The Investment Partnerships Program Council (PCPI) is a non-governmental organization, authorized the sale of 2,095,644 common shares held by Eletrobras Participações in the share capital of Eletropaulo Metropolitana Eletricidade of São Paulo. The decision, deliberated on the second, by the college, is contained in a resolution published in the Official Journal (DOU) on Tuesday, May 3rd.
Two weeks ago, President Michel Temer also complied with the PPI recommendation and included the tranche that the Union holds in the capital stock of Eletropaulo under the National Privatization Program (PND). In total, the Union's participation in society raises 13,342,642 common shares
Government initiatives come after the purchase of Eletropaulo by the Italian Enel, for 5.55 billion reais. The case was closed at auction at B3 on June 4th. From that moment, shareholders who had not joined the IPO had 30 days to decide whether to join or not. Ael and BNDES are among the main shareholders of the São Paulo distributor, with a 35.57% stake in the company.
Enel won the auction with an offer of R $ 45.22 per share during the auction his rival Neoenergia was $ 39.53. The operation has already been approved by the Board of Directors for Economic Defense (Cade), but still depends on the approval of the National Agency of Electric Power (Aneel) ).
Randon (RAPT4)
Randon approved the issue of R $ 600 million single series debentures for qualified investors. Braskem (BRKM5)
The plastic industry wants the Brazilian government to monitor the potential sale of Braskem to the Dutch company LyondellBasell, informed Valor Econômico. If business comes to fruition, the world's largest producer of thermoplastic resin will be created, but what worries executives is the fact that a foreign company badumes the sole national supplier of polyethylene and polypropylene.
the sector say that they are not opposed to the sale, but that in this circumstance, they want to re-discuss the elimination of barriers to competition with the imported resin.
Want to invest in stocks paying only R $ 0.80 brokerage? BR Distribuidora (BRDT3)
BR Distribuidora began the process of selling its 45% stake in Pecém Energia and 50% in Energética Camaçari Muricy II, the two thermoelectric plants. The company launched the teaser for divestments
In a relevant fact, the company recalls that the factories have 143.080 kW each of installed capacity. Both are located in the state of Bahia and are in pre-operational phase and about to sign marketing operations with the National Electric Power Agency (Aneel). The start date for this operation is October 6, 2020. BR Distribuidora remembers that current corporate members have preemptive rights.
Cemig (CMIG4)
Aneel (National Electric Power Agency) initiated an administrative procedure against Cemig Distribuição, after having conducted a survey on possible manipulation of the quality of service indicators presented by the company. 39, national mining unit, enterprise.
The offense notice published on the Aneel website determines the recalculation of the indicators and the application of a fine of 12,495 million reais, with a delay of to comply 30 days after the decision of last instance
Recommendations
Randon (RAPT4) and Fras-le (FRAS3) were reinstated by Eleven Financial with a neutral recommendation and respective target prices of R $ 8 and R $ 6.
Mills (MILS3)
At Mills, James Oliver Carneiro was elected chief financial officer
(With Agência Estado, Bloomberg and Agência Brasil)
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