Maha’s acquisition of shares in 3R Petroleum is conducted in two steps. In the first step, Maha has entered into, with a financial institution, a derivative instrument (equity linked note), which provides Maha with an economic exposure to 11,999,248 shares representing 5% (five percent) of the capital stock of 3R Petroleum. Subsequently and as a second step, the purpose is to replace the derivative instrument with a direct equity interest.
“This represents a strategically motivated, long-term investment on our part. The management and the board of directors in Maha have been intimately involved in the founding and early growth of 3R Petroleum. Consequently, we possess a profound understanding of the value residing within 3R Petroleum's assets. Maha's investment strategy in 3R Petroleum outlines the initiation of a consolidation plan within the Brazilian onshore segment, followed by the separation of 3R Petroleum's offshore assets,” says
Our strategic objectives are detailed in the attached Letter.
Maha will present the investment at a webcasted presentation tomorrow,
Link to webcast: https://itau.zoom.us/webinar/register/WN_-wS3DktbTPS-CLp9RoMCUQ
About 3R Petroleum
3R Petroleum (RRRP3:SAO) is a publicly traded Brazilian oil and gas company, listed on B3 (
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