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Sovereign Wealth Funds Briefing - Categorized | Compliance/Regulation/Legal, Fund Management/Administration

Brazil approves sovereign fund

Posted on 10 September 2010

From Dow Jones: Brazil’s federal sovereign wealth fund and the BNDES and Caixa Economica Federal state-controlled banks will be allowed to participate in the planned capitalization of state-controlled oil company Petroleo Brasileiro later this month, according to a decree published by government in the country’s federal register Thursday.
Under the decree, BNDES National Development Bank and the Caixa Economica Federal savings and loan bank will be allowed to sell or exchange up to 217,395,982 common shares of Petrobras, as the company is known, with the country’s sovereign wealth fund, which is managed by the state-controlled Banco do Brasil………………………………………Full Article: Source


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