Petro Rio S.A. ADR fka HRPTY

[Northsun0]

Posted on SH Re: Nelson Tanure

From what I glean, J.G. Summit is a back door for a Brazilian named Tanure to get involved in this squabble. He has taken over a couple of distressed Brazilian companies from what I know. He is somehow involved with these purchases by J.G.Summit.
I also understand that he plays hardball.


And here it is

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Lauro Jardim
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Gabriel Mascarenhas and Thiago Prado
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Thursday, January 16, 2014
16:27 \ Economics
Changes in HRT
Tanure: oil exploration

Greater influence on the board

The oil company HRT have from today a new balance of power - and she leans to the side of Nelson Tanure.

Besides having increased its shareholding in the company, Tanure managed to elect some names linked him to the board of directors, in a meeting that just ended. They are, Haroldo Lima, former director general of the ANP, Hélio Costa and Peter Grossi.

The American Discovery Fund, another substantial shareholder, failed to elect any appointed to the board.

Marcio Mello, founder of HRT, left the council into acting assembled with Tanure strategy.

By Lauro Jardim