The AP1, the largest fund of Sweden’s pension, will initiate proceedings against us because the Brazilian was not revealed on their balance sheets the actual situation of the company and overestimated its assets.
One of the largest pension funds in Europe announced this Monday, April 6, which will process Petrobras, following the example of US investors who already prosecutions against the Brazilian oil company, advances the Financial Times.
The action will be carried out by the AP1, the largest fund of Swedish pensions, which claims that Petrobras did not disclose on their balance sheets the actual position of the company overstated its assets.
The AP1, a pension fund of 30 billion dollars, held by December, 3.7 million in Petrobras assets. However, if US investors have teamed up to launch a process in the courts against the company, the Swedes announced that will open a separate case.
“We intend to have our own lawsuit against the company “said a fund spokesman told the Financial Times.
According to the same publication,” dozens of funds “opened proceedings against us since December. . In February, were consolidated in a single action, led by the USS, a UK pension fund, which has lost 84 million dollars from the turmoil in Petrobras
The Brazilian company is involved in an investigation – known by Lava Jet -. which seeks to determine the extent to which some executives and politicians linked to the oil required payments to construction companies in exchange for the award of contracts
According to the indictment, several Petrobras suppliers have paid bribes to executives and the politicians of the ruling coalition led by the Labour Party of President Dilma Rousseff, in order to get contracts worth billions of dollars. The PT has, however, refuted all charges.
In early February, the executive president of Petrobras, Grace Foster, and five directors of the company, presented his resignation.
At least five companies involved in Operation Lava jet or listed by Petrobras in syndication now total 15 billion reais (about 4.36 billion euros) in debt restructuring. According to the Estado, this value can almost double with the expectation that soon, Schahin Oil and Gas (with a debt of EUR 4 million) is also part bankruptcy protection.
The shares of oil Brazil have been heavily penalized since November last year. In 2014, accumulated a devaluation of 43%. This year, managed to recover 6%.
No comments:
Post a Comment