Petrobras Council (PETR4) votes today on Prates appointment, Cielo (CIEL3) kicks off budget season, and JBS (JBSS3) denies fraud allegations

The corporate radar this Thursday (26) carries the vote to nominate Senator Jean Paul Prates (PT-RN) to the presidency of Petrobras (PETR4;PETR3).

Cielo (CIEL3), in turn, will release its financial statements for the fourth quarter after the markets close. According to Refinitiv’s consensus, Cielo is expected to deliver revenue of BRL 2.94 billion in the fourth quarter, earnings before interest, taxes, amortization and depreciation (Ebitda) of BRL 1.18 billion and net income of BRL 441.2 million of R$.

Read more: Check out the results calendar for the 4th quarter 2022 of the Brazilian Stock Exchange

JBS (JBSS3), in turn, denied alleged allegations of defrauding the company’s creditors after the media reports.

Banco do Brasil (BBAS3) informs that José Ricardo Sasseron has been appointed to fill the position of Vice President of Corporate Governance and Sustainability.

BTG (BPAC11) overturned the decision in court and retained the BRL 1.2 billion block from Americanas (AMER3).

Check out more highlights:

The Petrobras (PETR3;PETR4) board will review the nomination of Senator Jean Paul Prates (PT-RN) as president of the company this Thursday, at 9 am.

Ibovespa today: live market movement this Thursday

Prates has more than 25 years of experience in the oil, natural gas, biofuels, renewable energy and natural resources industries, which has been positively reported by market agents, as he is qualified to fill the important position. But your performance as owner of companies operating in the energy sector must also go through the necessary checks.

In response to questions from Brazil’s Securities and Exchange Commission (CVM), JBS (JBSS3) denied alleged fraud allegations involving the company’s creditors. The issue arose from an article in the Valor Econômico newspaper, dated January 24, entitled “The courts oblige JBS to pay the debts of the slaughterhouse”.

According to the publication, two recent court rulings recognized JBS as the successor to financially struggling slaughterhouses. One was issued by the Superior Court of Justice (STJ) and the other by the Court of Justice of Mato Grosso do Sul (TJMS). In both cases, the rulings underline that the acquisitions were made in a “disguised” manner so as not to face the liabilities of a judicial recovery process or the extinction of the acquired companies, Valor said.

The slaughterhouse confirmed the existence of the lawsuits mentioned in the Valor article, which are ongoing and do not have a final and unappealable decision, and in both cases the decisions were promptly challenged by the company at the time.

“The company also specifies that it does not share the opinions brought by the lawyer of one of the parties involved in the disputes, since the interviewee obviously created the narrative that it was convenient for him to present to the communication vehicle”, reads a note.

The company states that it has chosen not to provide clarifications to the communication vehicle, as it reserves the right not to comment on the case, in order not to anticipate any information or strategy on the process still under discussion.

For JBS, commenting on ongoing trials only creates confusion for investors, as there is no final decision that materializes risks and can be used to make fully informed decisions, and may weaken positions in the file, as disputes remain unsettled legal.

Bank of Brazil (BBAS3)

Banco do Brasil (BBAS3) informs that José Ricardo Sasseron has been appointed to fill the position of Vice President of Corporate Governance and Sustainability.

Sasseron was a career employee at Banco do Brasil for 32 years and was Director of Security at Previ (Caixa de Previdência dos Trabalhadores do Banco do Brasil), between 2006 and 2012, as well as having been a Deliberative Director of the institution between 2004 and 2006.

He was a member of the Board of Directors of Vale, from 2008 to 2012, and of Fras-le, from 2013 to 2017. He was a member of the CNPC (National Council of Complementary Pensions), from 2011 to 2014, and President of the National Association of Funds Pension and Beneficiaries of Self-managed Health Plans (AVAPAR), from 2001 to 2010.

BTG Pactual (BPAC11) yesterday obtained an injunction in the Superior Court of Justice (STJ) to maintain the freeze of R$ 1.2 billion of funds withheld by Americanas (AMER3), according to a decision signed by Minister Og Fernandes.

The bank filed an appeal with the STJ on Tuesday evening, after the Rio de Janeiro Court of Justice overturned an injunction that allowed the bank to keep the money frozen.

In a statement after questions from B3 and the Securities and Exchange Commission (CVM), Oi (OIBR3;OIBR4) signaled it did not know the reasons behind the significant rise in the stock in recent trading sessions, with emphasis on stock ON, which is more liquid

On the eve, ON shares rose by 22.83% and, this Wednesday (25th), assets rose by 34.62%, accumulating gains of 65.35% in just two days, going from R$ 1.27 to R$ $2.10; on Friday (20th), the maximum was already 16.36%.

PN shares, on the other hand, had a less significant but nonetheless significant rise of 14.80% last Tuesday and 19.95% this Wednesday, going from R$ 3.58 to R$ 4.93 in two sessions of trading, or an increase of 37.71%. On Friday, the high was 7.65%.

“In this regard, Oi specifies that there are no relevant facts or acts which, in its opinion, could justify possible atypical fluctuations in the number of contracts and the quantity traded of the company’s shares, in addition to those already widely disclosed to the market”, underlined the company.

Energisa (ENGI11) reported that total energy consumption increased by 0.8% in December compared to the previous year.

Pay Less (PGMN3)

Pague Menos (PGMN3) reported that openings reached 61 stores in the fourth quarter of 2022, ending 2022 with 1,646 stores in the country.

In the year’s cumulative result, 118 units were opened, two fewer than the company forecast.

These two remaining stores had their opening postponed to January.

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