Important companies, with decades of experience, are reaching the end of an era and saying goodbye to a relevant position. After being snapped up by giants in their business segments, companies end a cycle and ask for the cancellation of their publicly traded registration.
Between January and March, five important companies started the process that goes through a request to the Securities and Exchange Commission (CVM). Among them, an important can manufacturer visited the kitchen of the Brazilian, the country’s oldest private bank and construction company.
Below, see four SAs that recently asked the CVM to cancel their registration as a publicly traded company.
Companies that requested cancellation of publicly traded registration
A Dommo Energia was acquired by PRIO (PRIO3) – ex-Petro Rio -, in the second half of last year. Already incorporated by the parent company, the company requested the cancellation of the registration as a publicly-held company in category A last week.
Furthermore, Dommo, which belonged to the entrepreneur Eike Batista with the name of OGX, also left the B3where it had its shares listed.
After 70 years of history, the Metalográfica Iguaçu (M. Iguaçu) changed ownership in November 2021, when it was acquired by CSN (CSNA3).
CSN bought the company from Paraná to continue with its food can manufacturing business. For years, the company produced the brand’s tomato paste cans. Elephant.
Last month, the company’s AGE announced that it had started the process to request the cancellation of the registration with the CVM and also the listing of M. Iguaçu on the B3, where it had trading of common and preferred shares.
Riva Incorporadora has asked the CVM to cancel the category A registration after the process was approved at an extraordinary general meeting (AGE), held in December last year.
The company explained that the request is due to the aim of adapting the company to the purpose and prospects for the coming years. As a result, a public offering of shares (OPA) was waived.
Riva is a subsidiary of the construction company Directional (DIRR3) and considered carrying out an initial public offering (IPO) in 2020.
Who also announced that he will start the process to request the cancellation was the Besa Bankthe old one Economic Bank.
The financial institution was acquired by BTG Pactual in October last year after leaving the judicial recovery process and changing its name.
Besa carried out a unified public offer for the acquisition (OPA) of common and preferred shares by BTG. With that, the next step is to move forward with the process to request the cancellation of your registration as a publicly traded company.
The Bahian bank went bankrupt in the mid-1990s and, until that moment, was the oldest private bank in Brazil. It was founded in 1834, in Salvador.
Source: Moneytimes
I am an author and journalist with a focus on market news. I have worked for a global news website for the past two years, writing articles on a range of topics relating to the stock market. My work has been published in international publications and I have delivered talks at both academic institutions and business conferences around the world.
