Petro Rio S.A. ADR fka HRPTY

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http://www.infomoney.com.br/hrt/noticia/3293614/misterio-desvendado-venda-super-lote-hrt-foi-feita-pela-discovery


Mystery unveiled : selling super batch of HRT was taken by Discovery ; question changes
However , another question is pending : this is who bought large lot of shares; if JG Petrochem , the clause will be triggered to be a takeover of the company

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By Lara Rizério
| 9:08 a.m. | 16/04/2014
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SAO PAULO - On Monday , the sale of a super block of shares of HRT Participações em Petróleo ( HRTP3 ) corresponding to 20 % of the capital of the company drew the attention of the market. Among the " suspects " to participate in the operation, were JG Petrochem and Discovery , the only ones who could negotiate size and amount of shares that have been involved in disputes within the company .

According to the position of the last January 31 , JG Petrochem owned 19.25% stake in the share capital of the company - or about 57.27 million shares - while Discovery has a share of 17.71 % , or 52.67 million of roles HRTP3 . But today, in a statement sent to market, the mystery was unraveled : HRT reported that the Discovery received correspondence stating that she sold the shares and now holds approximately 0.16 % of the share capital of the company , with 462.7 thousand papers , signaling that she was a big seller in session Monday.

However , another question is pending : for whom Discovery sold the shares ? If for JG Petrochem , Nelson Tanure the company would have a higher share to 20 % in the HRT , which triggers the clause of " poison pill " . Who raises its stake to above that amount must extend the offer to the minority shareholders and thus achieve the delisting, [color=red][/color]which could represent a turning point for the current situation of the company .
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It is noteworthy that , in late January , JG Petrochem , Nelson Tanure , and Discovery entered into a transaction agreement to end the dispute among themselves as shareholders . The two companies competed with each other; a week before ending the dispute, JG Petrochem opened request to initiate arbitration for the Discovery and other group companies recognize that exceeded the limit of 20 % stake in the oil without making a takeover bid .