Sete Brasil shareholders may file for bankruptcy -sources

Banco Bradesco

19/02/2016 22:38

SAO PAULO, Feb 19 (Reuters) - Shareholders of Sete Brasil 
Participações SA may file for bankruptcy protection if Brazilian 
state-controlled oil producer Petróleo Brasileiro SA, the rig 
builder's sole client, fails to present a final long-term lease 
contract in a week's time, two sources with direct knowledge of 
the matter said on Friday. 
    Petrobras  PETR4.SA , as the oil company is known, asked for 
seven days to deliver a proposal to rent Sete Brasil's rigs, 
shareholders were told at a meeting that took place earlier in 
the day, said the sources, who asked for anonymity to speak 
freely about the issue.  
    The message was delivered by Sete Brasil Chief Executive 
Officer Luiz Carneiro to shareholders, the sources said, adding 
that it contained no specific proposals. Shareholders in Sete 
Brasil, including pension fund Previ and Grupo BTG Pactual SA 
 BBTG11.SA , want to put the ailing Brazilian rig builder into 
creditor protection to force Petrobras to sign a long-term rig 
leasing contract. 
     
 
 (Reporting by Guillermo Parra-Bernal; Editing by Andrew Hay) 
 ((guillermo.parra@thomsonreuters.com; +55-11-5644-7714; 
+55-119-8346-7153; Reuters Messaging: 
guillermo.parra.thomsonreuters.com@reuters.net)) 
 
Keywords: BRAZIL CORRUPTION/PETROBRAS SETE BRASIL