CVM to judge Oncoclínicas tender offer appeal on August 25

The Brazilian Securities and Exchange Commission (CVM) has scheduled a judgment for August 25 to review an appeal regarding Oncoclínicas (ONCO3). The case centers on whether a mandatory tender offer (OPA) should have been triggered following a reorganization of the Josephina funds and the involvement of Centaurus Capital.

While the CVM technical area previously ruled that no new acquisition occurred—arguing the move merely reorganized existing economic interests held by Centaurus—minority shareholders are contesting this decision. They argue the reorganization altered economic control and necessitates a public offer to other investors.

The matter has also drawn scrutiny from the Civil Police of São Paulo. An investigation has led to the indictment of Felipe Guerra Acosta and Natan Lima Reinig, identified as representatives of Goldman Sachs, as authorities question the validity of the claim that Centaurus already held the participation in question.