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PBR » Topics » g.2) Exercise of option to purchase shares of EVML Leasing Co.

This excerpt taken from the PBR 6-K filed Aug 21, 2007.

g.2) Exercise of option to purchase shares of EVML Leasing Co.

On June 18, 2007, for US$ 123 million (equivalent to R$ 234.278 thousand) and on the recommendation of Petrobras, Braspetro Oil Company (BOC) exercised its option to purchase all the shares of EVM Leasing Co., the owner of the assets, financed by the investors and financiers of the EVM project financing, in light of the conclusion of the financing structure and other contractual obligations of the project settled by Petrobras.

In the financial statements of Petrobras, the assets and liabilities of EVM were consolidated, as required under the terms of CVM Instruction No. 408/2004. In June 2007, EVM became a direct holding of BOC, which holds 100% of its voting capital, fully paid-up, and its consolidation was in compliance with CVM Instruction No. 247/96.

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