The first companies to adhere to CAF
BM&FBOVESPA S.A. and Azul are the two first companies to sign the Term of Intention to Adhere to the Self-regulation Code of the Brazilian Takeover Panel (Comitê de Aquisições e Fusões – CAF).
The announcement was made on January 21st, during a ceremony held at Anbima headquarters, and counted on the presence of Mr. Nelson Eizirik, President of CAF; Mr. João Nogueira Batista, Executive Director of CAF; Mr. Edemir Pinto, President of BM&FBOVESPA; Mr. David Neeleman, CEO of Azul; in addition to the CEOs of CAF supporting entities: Mr. Mauro Rodrigues da Cunha, from the Association of Capital Market Investors (AMEC); Ms. Denise Pavarina, from the Association of Entities of the Financial and Capital Markets (ANBIMA) and Ms. Sandra Guerra, from the Brazilian Institute of Corporate Governance (IBGC).
The Brazilian Takeover Panel (CAF) started operating in the second semester of 2013 with the objective of ensuring the compliance of equitable conditions in public tender offers and corporate restructurings involving Brazilian publicly-traded companies that, based on a voluntary self-regulatory model, decide to submit to the body.
CAF is comprised of a judging commission headed by the jurist Mr. Nelson Eizirik and formed by other 10 members from the financial and capital markets, who are responsible for applying and updating the CAF’s Self-Regulation Code, document that includes principles and additional rules to those already set forth by the law and by the Brazilian Securities and Exchange Commission (CVM) aimed to close eventual gaps in tender offers and corporate restructurings.
The Brazilian Takeover Panel has the institutional support of the Brazilian Securities and Exchange Commission’s members and of the International Finance Corporation’s members (IFC).
CEO of Amec, Mauro Rodrigues da Cunha, delivers CAF certificate to the President of BM&F Bovespa, Edemir Pinto
