The American background PointState Capital now holds 5.16% stake in Hi, announced the Brazilian operator, where Pharol is the largest shareholder at the market.
The entry based fund in New York occurs after spending holds 34,500,000 common shares of Hi through the ownership of 6.9 million American Depositary Receipts (ADR).
“the PointState reports which currently does not intend to change the company’s controlling group, and does not currently intend to influence the company’s management “, reports Hi in a statement. More, the fund stresses that “is not part of any agreement governing the exercise of voting rights or the purchase and sale of securities issued by the company.”
The background is replaced by a qualified position at a time when the asset manager Bridge, which is on the Brazilian businessman Nelson Tanure, came forward with a request to convene an extraordinary general meeting to remove five of the current directors, appointed by the Pharol, which with 27.2% is the largest shareholder of the company.
With the Bridge would be the bottom OntarioTeacher’sPensionPlan pensions that already went public to say who sold position in Hi and will not participate in any board change movement. But source connected to Nelson Tanure said the economic value of the Canadian pension fund would have sold its stake to PointState background, it is not clear what position it would take in this dispute.
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