Brazil's Petros Takes 10% of Totvs

Brazil's Petros Takes 10% of Totvs

Brazil Funds

Petros, the employee pension fund for Brazil’s oil company Petrobras, has purchased a 10% stake in Brazilian software company, Totvs, a leading software supplier in Latin America. Petros says it now owns slightly more than 16 million shares of the software provider, but noted it has no intention of using its ownership to change the company’s management. Totvs declined to comment, while Petros did not answer several requests for comment. In recent months Petros has been involved in several acquis

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