Petrobras – Investor Relations

Petrobras

Investor Relations

Deliberations of the Extraordinary General Meeting on August 30, 2005


PETRÓLEO BRASILEIRO S.A. - PETROBRAS

Public Company

PRESS RELEASE

Extraordinary General Meeting

 


The Extraordinary General Meeting held on August 30, 2005 at 3:00 p.m. in the auditorium of the Company’s registered offices located at Avenida República do Chile 65, 1st floor in the city and state of Rio de Janeiro, deliberated and approved the following:

I. Approval of the “PROTOCOL AND JUSTIFICATION OF THE OPERATION FOR THE PARTIAL AND DISPROPORTIONAL SPINNING OFF OF DOWNSTREAM PARTICIPAÇÕES LTDA AND THE INCORPORATION OF THE DIVESTED PORTION BY PETRÓLEO BRASILEIRO S.A. - PETROBRAS”, dated July 31 2005;

II. Ratification of the nomination of ERNST & YOUNG, Auditores Independentes S/S for appraising the assets to be spun off and subsequently incorporated;

III. Approval of the Valuation Report of the spun off portion to be incorporated by PETROBRAS;

IV. Approval of the partial and disproportional spinning off of DOWNSTREAM PARTICIPAÇÕES LTDA, followed by the incorporation of the assets of the divested part of PETRÓLEO BRASILEIRO S.A. – PETROBRAS, according to the protocol and justification to which item “I” above refers;

V. Authorization for the Executive Board to practice all necessary acts for the execution of the partial and disproportional spinning off of DOWNSTREAM PARTICIPAÇÕES LTDA, followed by the incorporation of the assets of the divested part of PETRÓLEO BRASILEIRO S.A. – PETROBRAS, and

VI. Election as a member of the Board of Directors Mr. José Sergio Gabrielli Azevedo, in order to finish a mandate and in substitution of Mr. José Eduardo de Barros Dutra.  

 

 

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