CMN Resolution No. 3250 - Authorizes Brazilian investments abroad through international share contribution via equity transfer or swap

RESOLUTION NO. 003250

Authorizes Brazilian investments abroad through the realization of an international share contribution, by means of the transfer or swap of equity participation held by individuals or legal entities resident, domiciled, or headquartered in Brazil, resulting from the sale of voting control of a Brazilian company.

The CENTRAL BANK OF BRAZIL, in accordance with Article 9 of Law No. 4,595, of December 31, 1964, makes public that the MONETARY COUNCIL, in a session held on December 16, 2004, based on Articles 4, items V and XXXI, and 57 of the aforementioned Law, and on Law No. 6,404, of December 15, 1976,

RESOLVED:

Article 1. Authorize individuals or legal entities resident, domiciled, or headquartered in Brazil to make investments abroad through international share contribution or other assets, by means of the transfer or swap of equity participation held in a Brazilian company, for equity participation in a foreign company, in the event of a public offer for the alienation of shares of a Brazilian open company, whether existing or to be issued, traded or not on a stock exchange, resulting from the sale of voting control provided for in the legislation and regulations in force.

Article 2. The Central Bank of Brazil and the Securities and Exchange Commission, within their respective areas of competence, may adopt the measures and issue the complementary norms necessary for the regulation and execution of the provisions of this Resolution.

Article 3. This Resolution enters into force on the date of its publication.

Brasília, December 16, 2004.

Henrique de Campos Meirelles
President