Petro Rio S.A. (BOVESPA:PRIO3) entered into an agreement to acquire additional 29.21% stake in BrasOil do Brasil from Fundo Brascan de petróleo, gás e energia - FIP, fund of BRKB DTVM, Investment Arm on December 30, 2016. On February 10, 2017, after the end of the terms for the exercise of tag along rights for the remaining shareholders of BrasOil do Brasil, they informed of the complete adherence to the conditions already agreed upon for the acquisition. Upon completion of the transaction Petro Rio S.A. will hold 100% stake in BrasOil do Brasil. The closing is subject to certain conditions precedent, among which, the approval by the investment committee of Fundo Brascan and the period for exercise of the right of first offer and tag along by the remaining investors of BrasOil, additional to the analysis of the transaction by the competent regulatory bodies, as deemed necessary. The closing of transaction is subject to certain conditions precedent, and the analysis of the transaction by the competent regulatory bodies, as necessary. On February 24, 2017, the Brazilian Antitrust Authority (CADE) approved the transaction. Petro Rio shareholders approves the transaction on March 7, 2017.