Central Bank of Norway reduces stake in Raízen to below 5%

Norges Bank, Norway's central bank and manager of the Norwegian sovereign wealth fund, reduced its shareholding in Raízen, one of the largest energy and biofuels companies in Brazil. According to a statement released by the company this Tuesday (7), the institution now manages 60.68 million preferred shares of the company, equivalent to 4.47% of the total of this type of paper.

Before the operation, Norges Bank held 81 million preferred shares in Raízen, a stake equivalent to 5.96% of the shares issued by the company. With the reduction, the institution no longer exceeds the 5% shareholding limit.

The movement was communicated by Raízen to the market in compliance with the rules of the CVM (Securities Commission), which determine the disclosure of relevant changes in the shareholding composition of publicly-held companies.

According to the document sent by Norges Bank, the participation is exclusively investment in nature. The reduction of the position does not change the control or administrative structure of Raízen, and the institution reported that it does not have other securities or derivatives linked to the company's shares.

Norges Bank Investment Management manages Norway's sovereign wealth fund, considered one of the largest institutional investors in the world, with stakes in thousands of global companies. The institution invests resources from the country's oil and gas revenues in international financial assets.

https://stories.cnnbrasil.com.br/economia/industria-de-biocombustiveis-propoe-quadruplicar-producao-ate-2035/

Source: CNN