Bloomberg News

Petrobras Finance Directors Cleared in Regulatory Probe

February 28, 2012

Brazil’s securities regulator, known as CVM, cleared Petroleo Brasileiro SA (PETR4) Chief Financial Officer Almir Barbassa and two former directors after investigating their role in helping to manage a fund at Banco do Brasil where Petrobras was the only investor.

Luciana Dias, a director at the CVM, announced the decision at a public hearing in Rio de Janeiro today.

To contact the reporter on this story: Rodrigo Orihuela in Rio de Janeiro at rorihuela@bloomberg.net

To contact the editor responsible for this story: Peter Millard at pmillard1@bloomberg.net


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