ABRAPP publicly supports the Brazilian Takeover Panel

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On June 3, ABRAPP, the Brazilian association of closed pension funds and offering employer-sponsored retirement plans, sent a supportive letter to the Brazilian Takeover Panel (CAF) –inspired by the English Takeover Panel — congratulating the entity’s initiative. In the previous month, Aberdeen Asset Management, the UK’s largest third-party asset manager, submitted a similar letter to CAF, in which the asset manager recommended Brazilian companies to adhere to the association.
About CAF
The Brazilian Takeover Panel (CAF) results from a new effort towards the self-regulation of the market to establish, in Brazil, a private association that gathers specialization, promptness and accuracy in ensuring equitable conditions among shareholders in tender offers, takeovers, mergers of shares, and mergers and split-ups with takeovers involving Brazilian listed companies, provided these companies are willing to adhere to the panel.
CAF is supported by the Association of Capital Market Investors (AMEC), the Brazilian Financial and Capital Markets Association (ANBIMA), the Securities, Commodities and Futures Exchange (BM&FBOVESPA) and the Brazilian Institute of Corporate Governance (IBGC) that, in turn, operate as sponsoring associations of CAF’s Supporters Association (ACAF), a non-profit association that provides CAF with technical and administrative support.
Click here to access ABRAPP’s letter
For additional information about CAF, please visit www.cafbrasil.org.br