CAF website is now live
The Brazilian Takeover Panel – CAF (“Comitê de Aquisições e Fusões”) – has just launched its site. The site provides readers with access to information about the entity’s members, technical team, its agreement with CVM (Brazilian Security and Exchange Commission) and its Code of Self-Regulation. To access it, please visit http://www.cafbrasil.org.br/
The Brazilian Takeover Panel results from a new effort towards the self-regulation of the market to establish, in Brazil, an entity that gathers specialization, promptness and accuracy in decisions related to public tender offers and corporate restructurings that involve Brazilian publicly-traded companies. The self-regulation model chosen by CAF is voluntary, what means that companies decide, on a public and formal basis, to submit to the body.
CAF counts on the support of the Association of Capital Market Investors (Amec), the Brazilian Financial and Capital Markets Association (Anbima), BM&FBOVESPA and the Brazilian Institute of Corporate Governance (IBGC), which operate as sponsoring entities of CAF’s Supporters Association (ACAF) that, in turn, provides CAF with technical supporting services.
On August 27th, 2013, CVM and ACAF signed an agreement according to which there will be the presumption of legitimacy of public offerings subject to registration with CVM and corporate restructurings involving related parties that follow the procedures established by CAF’s Code of Self-Regulation.
